Get the free Schedule A (Form 8804)

If the partnership qualifies for and uses the exception under Regulations section 1. 1446-3 b 3 ii to switch to the standard option annualization method during the tax year the partnership should include on line 2 the total of all Attach a schedule that explains the computation. Part III. Figuring the Line 6. Enter the estimated tax payments made by the partnership for its tax year as indicated below. Include any overpayment from line 13 of the p...

How to fill out schedule a form 8804

How to fill out Schedule A (Form 8804)

1. Obtain Schedule A (Form 8804) from the IRS website or tax preparation software.
2. Fill in the identifying information including the name, address, and EIN of the partnership.
3. Enter the total effectively connected income of the partnership for the year.
4. Calculate the total withholding tax credit using the applicable tax rates.
5. Include any other necessary adjustments or deductions specific to the partnership.
6. Review the filled form for accuracy and ensure all required fields are completed.
7. Sign and date the form where indicated, certifying that the information provided is correct.
8. Submit Schedule A along with Form 8804, along with any payment due, by the tax deadline.

Who needs Schedule A (Form 8804)?

1. Partnerships that have effectively connected income with U.S. sources and have withholding obligations need to fill out Schedule A (Form 8804).
2. Foreign partnerships or entities that are required to report their income and taxes withheld on distributions to partners.

People Also Ask about

What is the difference between form 8804 and 1042?

Both report on the U.S. income of foreign persons. However, Forms 1042 and 1042-S report passive income, while Forms 8804 and 8805 report partnership income.

What is the penalty for not filing form 8804?

If Form 8804 is not filed on time, the penalty is usually 5% of the unpaid tax for each month the return is late, up to a maximum of 25% of the unpaid tax.

What is the penalty for failing to file form 8804?

Form 8804 penalties A penalty may be imposed for failure to file Form 8804 when due (including extensions). The penalty for not filing Form 8804 when due is usually 5% of the unpaid tax for each month or part of a month the return is late, but not more than 25% of the unpaid tax.

Is there an extension for 8804?

If you need more time, you can file Form 7004 to request an extension of time to file Form 8804. Note. Filing a Form 7004 doesn't extend the time for payment of tax. File on or before the 15th day of the 4th, 6th, 9th, and 12th months of the partnership's tax year for U.S. income tax purposes.

Do I need to file form 8804?

Who must file IRS Forms 8804 and 8805? Any partnership that has foreign partners with income connected to U.S. business activities is required to file Form 8804 and a separate Form 8805 for each foreign partner.

Can form 8804 be filed electronically?

Any forms filed to the IRS separately from Form 1065, such as Form 8804, aren't included in the electronic file and need to be filed on paper.

What is the penalty for a US person who fails to accurately file form 8938?

If you do not file a correct and complete Form 8938 within 90 days after the IRS mails you a notice of the failure to file, you may be subject to an additional penalty of $10,000 for each 30-day period (or part of a period) during which you continue to fail to file Form 8938 after the 90-day period has expired.

For pdfFiller’s FAQs

What is Schedule A (Form 8804)?

Schedule A (Form 8804) is a tax form used by partnerships to report the partnership's income, deductions, and other tax-related information for purposes of calculating and reporting the partnership's tax liability.

Who is required to file Schedule A (Form 8804)?

Partnerships that have a tax liability under the Foreign Partner Withholding Tax rules are required to file Schedule A (Form 8804). This includes partnerships with foreign partners that are subject to U.S. tax on certain income.

How to fill out Schedule A (Form 8804)?

To fill out Schedule A (Form 8804), partnerships should provide necessary details including the partnership's name, address, and Employer Identification Number (EIN), as well as information related to each foreign partner and the income allocated to them. The form should be completed according to the IRS instructions.

What is the purpose of Schedule A (Form 8804)?

The purpose of Schedule A (Form 8804) is to assist the IRS in tracking and ensuring the correct withholding of taxes for foreign partners in a partnership, thus ensuring compliance with U.S. tax obligations.

What information must be reported on Schedule A (Form 8804)?

Schedule A (Form 8804) requires reporting information such as the name and taxpayer identification number of the partnership, details of foreign partners, amounts of income allocated to foreign partners, and any applicable withholding tax amounts.