Get the free Form 8718 - IRS - irs

8718 Form (Rev. April 1994) Department of the Treasury Internal Revenue Service For IRS Use Only User Fee for Exempt Organization Determination Letter Request Control number Attach this form to determination

How to fill out form 8718 - irs

How to fill out form 8718 - irs:

1. Start by downloading form 8718 from the official IRS website or obtain a physical copy from your local IRS office.
2. Read the instructions carefully before beginning to fill out the form. Make sure you understand all the requirements and necessary information.
3. Provide your taxpayer identification number (TIN) at the top of the form. This could be your social security number (SSN), employer identification number (EIN), or individual taxpayer identification number (ITIN), depending on your circumstances.
4. Fill in your name, address, city, state, and zip code in the designated fields.
5. Indicate the type of business entity or tax-exempt organization that you represent.
6. There may be specific questions or sections on the form that require you to provide additional information. Ensure that you answer all the relevant questions accurately and completely.
7. Calculate and enter the proper amounts in the various sections of the form as instructed. This may include tax amounts, penalties, interest, or other fees.
8. Double-check all the information you have entered on the form to avoid any errors or omissions. Review it for accuracy and completeness.
9. Sign and date the form in the appropriate places.
10. Lastly, submit the completed form 8718 to the IRS according to the instructions provided, either by mail or electronically, depending on the filing method you have chosen.

Who needs form 8718 - irs:

1. Taxpayers who are making installment payments to the IRS for certain taxes, penalties, or interest owed.
2. Individuals or entities requesting a reduced user fee for certain installment agreements or installment payment requests.
3. Taxpayers who are applying for a streamlined offer in compromise, which is a settlement option for individuals who are unable to pay their tax debt in full.
4. Qualified tax-exempt organizations that need to request an installment agreement for their unpaid balance.
5. Taxpayers who are applying for an extension of time to pay certain taxes or penalties in installments.
6. Individuals or entities seeking to modify or reinstate an existing installment agreement with the IRS.
7. Taxpayers who are making a payment of tax or penalty using the electronic funds withdrawal method.

Note: The specific criteria and eligibility requirements for using form 8718 may vary depending on the individual's or organization's circumstances. It is advisable to consult the instructions provided with the form or seek professional tax advice if you are unsure about whether you need to file form 8718.

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What is form 8718 - irs?

Form 8718 is a payment voucher for corporate tax extensions. It is used by corporations to make tax payments when requesting an extension of time to file their tax return.

Who is required to file form 8718 - irs?

Corporations that need additional time to file their tax return must file form 8718 to request an extension. It is not required for individuals or partnerships.

How to fill out form 8718 - irs?

To fill out form 8718, you need to provide your business information, estimate your total tax liability, and calculate any payments made. Then, you can submit the form along with your payment to the IRS.

What is the purpose of form 8718 - irs?

The purpose of form 8718 is to request an extension of time to file a corporate tax return. It ensures that the taxpayer can make a payment towards their estimated tax liability while getting more time to prepare and file the actual return.

What information must be reported on form 8718 - irs?

Form 8718 requires information such as the taxpayer's name, identification number, and contact information. It also asks for the estimated total tax liability and any tax payments made. Additionally, the form may require the taxpayer to provide the reason for the extension request.