File Form 966 within 30 days after the any of its stock. If the resolution or plan is amended or supplemented after Form 966 is filed file another Form 966 within 30 days after the amendment or supplement is adopted. The additional form will be sufficient if the date the earlier form was filed is entered on line 11 and a certified copy of the amendment or supplement is attached. Include all information required by Form 966 that was not given in the earlier form. File Form 966 with the Internal...Revenue Service Center where the corporation is required to file its income tax return. Distribution of property. Exempt organizations are not required to file Form 966. These organizations should see the Instructions for Form 990 or 990-PF. When and where to file. President Signature of officer Title Instructions Who must file. A corporation must file Form 966 if it adopts a resolution or plan to dissolve the corporation or liquidate any of its stock. 12/31/98 1120-L 1120-IC-DISC Other Date...resolution or plan of complete or partial liquidation was adopted final tax year Yes No consolidated return was filed Common Total number of shares outstanding at time of adoption of plan of liquidation Date s of any amendments to plan of dissolution Section of the Code under which the corporation is to be dissolved or liquidated If this return concerns an amendment or supplement to a resolution or plan enter the date the previous Form 966 was filed Preferred Attach a certified copy of the...resolution or plan and all amendments or supplements not previously filed. Under penalties of perjury I declare that I have examined this return including accompanying schedules and statements and to the best of my knowledge and belief it is true correct and complete. Form Corporate Dissolution or Liquidation Rev* August 1998 Please type or print Name of corporation Employer identification number Buffco Inc* 88-8888888 Number street and room or suite no. If a P. O. box number see instructions...below. Check type of return 1 Maple St* City or town state and ZIP code Amherst NY 14222 Date incorporated 3/1/90 OMB No* 1545-0041 Required under section 6043 a of the Internal Revenue Code Department of the Treasury Internal Revenue Service Place incorporated Amherst NY Service Center where corporation filed its immediately preceding tax return Andover MA Type of liquidation Last month day and year of immediately preceding tax year Complete 7c Name of common parent of common parent N/A 1120S...6/3/99 Partial 7b Was corporation s final tax return filed as part of a consolidated income tax return If Yes complete 7c 7d and 7e. A corporation must recognize gain or loss on the distribution of its assets in the complete liquidation of its stock. For purposes of determining gain or loss the distributed assets are valued at fair market value. Exceptions to this rule apply to liquidation of a subsidiary and to a distribution that is made pursuant to a plan of reorganization* Address. Include...the suite room or other unit number after the street address. If mail is not delivered to the street address and the corporation has a P.
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How to fill out IRS 966
To fill out IRS 966 accurately, follow these steps:
01
Download the form from the IRS website or access it through pdfFiller.
02
Provide the name and address of the corporation in the appropriate fields.
03
Indicate the applicable tax year for which the form is being filed.
04
Complete any additional sections as required, including the signature of an authorized officer.
Always double-check your entries for accuracy and completeness to avoid delays in processing.
About IRS previous version
What is IRS 966?
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?
About IRS previous version
What is IRS 966?
IRS 966, officially titled the “Corporate Dissolution or Liquidation” form, is utilized by corporations that wish to formally dissolve or liquidate their business. This document must be submitted to the IRS to comply with legal tax reporting requirements.
What is the purpose of this form?
The purpose of IRS 966 is to report the dissolution, liquidation, or cessation of business activities of a corporation. Filing this form ensures that the IRS has a record of the corporation's decision to dissolve and helps prevent future tax liabilities associated with the entity.
Who needs the form?
Corporations that decide to dissolve or liquidate must file IRS 966. This includes C corporations and S corporations. If the business structure changes or if there are plans to cease operations, this form is necessary for compliance.
When am I exempt from filling out this form?
You may be exempt from filling out IRS 966 if you are a sole proprietorship or partnership, as this form is specifically designed for corporations. Additionally, certain entities may not be required to file if they meet specific criteria outlined by the IRS; however, generally speaking, corporations must submit the form when ceasing operations.
Components of the form
IRS 966 comprises several key sections, including the corporation's name, address, and the date of dissolution or liquidation. Additionally, it requires the signature of an authorized corporate officer, reaffirming the accuracy of the information provided.
What are the penalties for not issuing the form?
If a corporation fails to file IRS 966 when required, it may face penalties such as fines or delays in the processing of any final tax returns. The IRS may also impose additional fees if tax liabilities are not properly reported upon dissolution.
What information do you need when you file the form?
When filing IRS 966, you will need the corporation's legal name, address, employer identification number (EIN), and the date of dissolution or liquidation. Additionally, the form requires the signature of the authorized corporate officer and may need accompanying documentation, if applicable.
Is the form accompanied by other forms?
IRS 966 is typically filed in conjunction with other forms, such as the final tax return for the corporation. Depending on the specifics of the dissolution or liquidation, additional forms may also be necessary to ensure full compliance with IRS requirements.
Where do I send the form?
The completed IRS 966 should be sent to the address specified in the form’s instructions. Typically, this will be the address of the IRS service center that processes corporate filings. Use pdfFiller to securely submit the form or to print it for mailing.
FAQ about IRS 966
What should I do if I need to correct a mistake after submitting IRS 966?
If you need to correct a mistake on your IRS 966 after submission, you can file an amended form using the same process as initially filed. Make sure to clearly indicate that it is an amended submission. Keep documentation of your changes and any correspondence regarding the amendment.
How can I track the status of my IRS 966 submission?
To track your IRS 966 submission, you can use the IRS online tools for checking the status of your filed forms. Be aware of common e-file rejection codes; resolving these quickly can help avoid delays in processing. If your form is rejected, follow the specific instructions provided to correct and resubmit.
Are electronic signatures acceptable on IRS 966 submissions?
Yes, electronic signatures are acceptable when submitting your IRS 966 online, as long as they meet the IRS's standards for security and authenticity. Ensure that your filing software complies with IRS requirements for e-signatures to ensure acceptance.
What should I do if I receive a notice from the IRS regarding my submitted form?
If you receive a notice from the IRS concerning your submitted IRS 966, read it carefully to understand what is required. Typically, you may need to provide additional documentation or clarification. Promptly gather the necessary information and respond in accordance with the instructions provided in the notice.
What common errors should I be aware of when filing IRS 966?
Common errors when filing IRS 966 include omissions of required information and using incorrect entity details. To avoid these issues, cross-check all entries for accuracy and completeness before submission. It is also beneficial to review IRS guidelines to ensure you meet all necessary criteria.
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