Form 8827: Credit for Prior Year Minimum Tax - Corporations
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Form 8827: Credit for Prior Year Minimum Tax – Corporations

Form 8827 allows employers to claim a credit for providing child care facilities and services to their employees. The credit is calculated based on the amount of qualified expenses paid or incurred by the employer and is limited to 25% of the expenses. For employers to take advantage of the credit, Form 8827 must be completed and attached to their income tax return for the respective taxable year.

What is Form 8827?

Form 8827 enables employers to claim a credit for providing child care facilities and services to their employees. The available credit is based on the amount of qualified expenses that have been paid or incurred by the employer to provide these services. The maximum credit amount is 25% of the qualified expenses paid or incurred. The form must be submitted and attached to the employer’s income tax return for the same taxable year in which the expenses were paid or incurred.

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IRS Form 8827 – Who Needs to Fill It Out?

Form 8827 must be completed by employers who provide child care facilities and services for their employees. It allows them to claim the credit for employer-provided child care facilities and services, which is based on the amount of qualified expenses paid or incurred by the employer for the provision of such services. The credit has a limit of 25% of the qualified expenses paid or incurred and is available only for the taxable year in which the expenses are paid or incurred. Form 8827 and its instructions must be completed in full and attached to the employer’s income tax return.

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Step-by-Step: Form 8827 Instructions For Filling Out the Document

Complete Form 8827 and attach it to the employer’s income tax return for the respective taxable year. Provide all the required information and ensure the Form is completed in full. This package provides instructions for employers to help them claim the credit for employer-provided child care facilities and services. The credit is available based on the expenses paid or incurred by the employer and is limited to 25% of the qualified expenses. The credit is available for the taxable year in which expenses are paid or incurred.

Below, we present a table that will help you understand how to fill out Form 8827.

Information Required for Form 8827 Details
Complete Form 8827 Attach it to the employer’s income tax return for the respective taxable year.
Credit for Employer-Provided Child Care Facilities Available based on expenses paid or incurred by the employer, limited to 25% of qualified expenses.

Do You Need to File Form 8827 Each Year?

Yes. Forms 8827 must be completed and filed with the employer’s income tax return each year in order to claim the credit for employer-provided child care facilities and services. All required information must be provided in full and the form must be attached to the return for the year in which the expenses were paid or incurred. This package includes Form 8827 as well as its instructions to help employers claim the credit.

Download the official IRS Form 8827 PDF

On the official IRS website, you will find a link to download Form 8827. However, to make it easier for you, we are providing the link in our article, which comes directly from the official irs.gov website! Click to download: Form 8827

Sources:

https://www.irs.gov/forms-pubs/about-form-8827

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