Form 976: Claim for Deficiency Dividends Deductions by a Personal Holding Company, Regulated Investment Company, or Real Estate Investment Trust
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Form 976: Claim for Deficiency Dividends Deductions by a Personal Holding Company, Regulated Investment Company, or Real Estate Investment Trust

Adoptive parents and legal guardians need to complete Form 976, Application for Taxpayer Identification Number for Pending U.S. Adoptions, in order to obtain a Taxpayer Identification Number (TIN) for a child currently being adopted by a U.S. citizen or resident alien. This TIN is required to report income and claim tax benefits.

What is Form 976?

Form 976 is an essential tool for those in the process of adopting a child in the United States. This form is required for the application of a Taxpayer Identification Number (TIN) for the child, which is needed for the reporting of income and the claiming of tax advantages for the child. In order to complete the form, the adoptive parent(s) or legal guardian(s) must sign it and submit it with a copy of the child鈥檚 birth certificate, adoption decree, or other legal document that verifies the relationship and identity of the child.

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IRS Form 976 – Who Needs to Fill It Out?

IRS Form 976 is meant for adoptive parents or legal guardians of a child in the process of being adopted by a U.S. citizen or resident alien. It must be accompanied by a copy of the child鈥檚 birth certificate, adoption decree, or other legal document that establishes the child鈥檚 identity and relationship to the adoptive parent(s). Additionally, Form 976 is used to apply for a TIN for the child, which can be used to report income and claim tax benefits.

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Step-by-Step: Form 976 Instructions For Filling Out the Document

Form 976 must be completed and signed by the adoptive parent(s) or legal guardian(s). Supporting documents, such as a copy of the child’s birth certificate, adoption decree, or other legal document that establishes the child’s identity and relationship to the adoptive parent(s) or legal guardian(s), must be included. The purpose of Form 976 is to apply for a Taxpayer Identification Number (TIN) for a child going through the adoption process by a U.S. citizen or resident alien. This TIN is used for the purpose of reporting income and claiming tax benefits for the child.

Information Required for Form 976 Details
Adoptive Parent Information Name, Social Security Number, and more
Child’s Information Name, Date of Birth, and more
Supporting Documents Copy of the child’s birth certificate, adoption decree, and more

Do You Need to File Form 976 Each Year?

No, Form 976 does not need to be filed every year. This form is a one-time application for a Taxpayer Identification Number that is used to report income and claim tax benefits for the child who is in the process of being adopted. The form must be completed and signed by the adopting parent(s) or legal guardian(s) and accompanied by a copy of the child’s birth certificate, adoption decree, or other legal document.

Download the official IRS Form 976 PDF

On the official IRS website, you will find a link to download Form 976. 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 976

Sources:

https://www.irs.gov/forms-pubs/about-form-976

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