File the consents with the same service center where you filed Form 4876-A. Consent by transferee shareholder. Supplemental Form 4876-A. If between the date ownership changes it must file a supplemental Form 4876-A with SUPPLEMENTAL written across the top of the form. The form must be filed within the first 90 days of the tax year the election takes effect. When To File If it is the corporation s first tax year complete and file Form 4876-A within 90 days after the beginning made during the...90-day period immediately preceding the first day of that tax year. For Paperwork Reduction Act Notice see page 2. Cat. No. 62075X Form 4876-A Rev. 9-2016 Page 2 Future Developments For the latest information about developments related to Forms 4876-A and 1120-IC-DISC such as legislation enacted after they were published go to www.irs.gov/form1120icdisc. General Instructions Section references are to the Internal Revenue Code unless otherwise noted. Purpose of Form A corporation files Form...4876-A to elect to be treated as an interest charge domestic international sales corporation IC-DISC. Separate statement. Any shareholder who does not sign the consent in Part II of Form 4876-A must sign a separate consent statement for the election to be valid. The statement must say I shareholder s name a shareholder of corporation s name consent to the election of corporation s name to be treated as an IC-DISC. For a corporation or partnership an officer or partner who is authorized to sign...the other returns may sign the consent for the IC-DISC election. A foreign person s consent may be signed by any individual who would be authorized to sign if the person were a U.S. person. Extension. Normally the consents must be attached to Form 4876-A. For all others it is the employer identification number. Signature. Form 4876-A must be signed by the president vice president treasurer assistant treasurer chief accounting officer or other officer such as tax officer authorized to sign for...the IC-DISC treatment will be valid only if all Part II or a separate statement as described below. Form 4876-A Rev. September 2016 Department of the Treasury Internal Revenue Service Part I Information Election To Be Treated as an Interest Charge DISC OMB No. 1545-0123 about Form 1120-IC-DISC and its separate instructions is at www.irs.gov/form1120icdisc. The corporation named below elects to be treated as an interest charge domestic international sales corporation IC-DISC for income tax...purposes. All of the corporation s shareholders must consent to this election* Name of corporation A Employer identification number Number street and room or suite no. or P. O. box if mail is not delivered to street address B Principal business classification see instructions City or town state and ZIP code C Tax year of IC-DISC Must use tax year of shareholder or shareholder group with the highest percentage of voting power see instructions. Enter ending month and day F Date corporation began...doing business E Election is to take effect for the tax year beginning month day year G Name and address including ZIP code of each shareholder or expected shareholder at the beginning of the tax year the election takes effect and when the election is filed* D Name of person who may be called for information optional Telephone number Ha Number of shares of stock held on first day held on date of year of election consent is made I Identifying number Total* Enter total shares for all shareholders...include shares of shareholders listed on any attachments.
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Instructions and Help about IRS 4876-A
How to edit IRS 4876-A
How to fill out IRS 4876-A
Instructions and Help about IRS 4876-A
How to edit IRS 4876-A
To edit the IRS 4876-A form, first ensure you have the latest version of the form downloaded from the official IRS website. Use a PDF editor such as pdfFiller to make changes as needed. This tool allows users to fill, edit, and sign the form electronically, streamlining the process of preparing the document.
How to fill out IRS 4876-A
Filling out the IRS 4876-A form involves several key steps. First, gather all necessary information regarding the tax years in question and the corresponding details about the asset involved. Next, accurately complete each section of the form, ensuring that all entries are correct and legible. Finally, review the completed form for any errors before submitting.
Latest updates to IRS 4876-A
Latest updates to IRS 4876-A
Stay informed about updates to IRS 4876-A by regularly checking the official IRS website. Changes may include new regulations, deadlines, or revised instructions that could impact the filing process.
All You Need to Know About IRS 4876-A
What is IRS 4876-A?
What is the purpose of this form?
Who needs the form?
When am I exempt from filling out this form?
Components of the form
What are the penalties for not issuing the form?
What information do you need when you file the form?
Is the form accompanied by other forms?
Where do I send the form?
All You Need to Know About IRS 4876-A
What is IRS 4876-A?
IRS 4876-A is a tax form used primarily for reporting certain transactions related to specific asset transfers. It serves as a declaration to inform the IRS of transfers that may affect tax obligations, ensuring compliance with federal tax laws.
What is the purpose of this form?
The purpose of IRS 4876-A is to report specific asset transfers for tax purposes. It helps the IRS maintain accurate financial records and ensures that taxpayers fulfill their reporting obligations. Accurate completion of this form is essential for avoiding penalties related to non-disclosure of taxable events.
Who needs the form?
Individuals and businesses engaged in qualifying asset transfers may need to complete IRS 4876-A. This includes entities that transfer real property or certain other assets that could have tax implications. If you are unsure whether you need to file this form, consult with a tax professional.
When am I exempt from filling out this form?
Exemptions from filing IRS 4876-A may apply to specific categories of transfers that do not impact tax liabilities, such as transfers between certain family members or non-taxable exchanges. Review IRS guidelines to determine eligibility for exemption.
Components of the form
IRS 4876-A consists of several sections detailing the nature of the asset transfer, the parties involved, and any relevant tax identification numbers. Each component of the form requires accurate information to ensure compliance and to facilitate IRS processing.
What are the penalties for not issuing the form?
Failure to file IRS 4876-A when required can result in significant penalties, including fines and additional tax liabilities. The IRS imposes penalties to encourage compliance and accurate reporting, so it is essential to adhere to filing requirements.
What information do you need when you file the form?
When filing IRS 4876-A, gather essential information such as taxpayer identification numbers, details of the asset being transferred, and any prior IRS correspondence related to the transaction. This information is crucial for accurate reporting and to avoid delays in processing.
Is the form accompanied by other forms?
IRS 4876-A may need to be submitted alongside other related tax forms or documents, depending on the nature of the transaction being reported. Review IRS guidelines to determine if additional documentation is necessary for your specific situation.
Where do I send the form?
After completing IRS 4876-A, send it to the address specified in the form’s instructions. This is typically the IRS service center corresponding to your location or the office handling the type of transaction being reported. Ensure that you send it via a method that provides confirmation of receipt.
FAQ about IRS 4876-A
What should you do if you realize there’s an error after submitting IRS 4876-A?
If you discover an error after submitting IRS 4876-A, you should submit an amended form to correct the mistakes. Ensure that you clearly indicate the changes made to avoid confusion. Keep a copy of the amended filing for your records and verify that the IRS acknowledges receipt of the corrected form.
How can you verify the status of your IRS 4876-A submission?
You can verify the status of your IRS 4876-A submission by checking the IRS online portal or by calling the IRS helpline for updates. Have your submission details on hand to facilitate the inquiry. Tracking your submission helps ensure that you stay informed about any processing issues or requirements.
Are e-signatures acceptable for IRS 4876-A filings?
Yes, e-signatures are acceptable for IRS 4876-A filings, making the submission process more convenient. Ensure that your e-signature is compliant with IRS standards to avoid any potential rejections. Retain confirmation of your e-filing as proof for your records.
What should you do if you get a notice from the IRS after filing IRS 4876-A?
If you receive a notice from the IRS after filing IRS 4876-A, carefully review the letter for specific instructions or issues raised. Prepare any necessary documentation to respond adequately and ensure that you meet any deadlines mentioned in the notice. If needed, seek assistance from a tax professional to handle the situation effectively.
What common errors occur when filing IRS 4876-A and how can you avoid them?
Common errors when filing IRS 4876-A include incorrect entry of payment amounts and missing signatures. To avoid these mistakes, double-check all entries before submission and ensure that all required information is provided and accurate. Utilizing software that checks for common errors can also help streamline the filing process.
Use this catalog to find any type of IRS forms. We've gathered all of them under this section uncategorized to help you to find a proper form faster. Once you spot it on this list, have a look at the versions and schedules you might need as attachments. All returns are available for 2016 and for previous fiscal years.
