Get the free Form 872

This form is used by taxpayers to consent to extend the time for the Internal Revenue Service to assess federal tax due for specified tax periods. It includes provisions for taxpayers to file claims

How to fill out form 872

How to fill out Form 872

1. Obtain Form 872 from the IRS website or your tax professional.
2. Fill in your name, address, and taxpayer identification number (TIN) in the designated fields.
3. Indicate the type of tax return for which you are requesting an extension on the IRS tax return line.
4. Specify the tax year for which the extension applies in the appropriate space.
5. Review the agreement section, ensuring you understand the terms and conditions.
6. Sign and date the form to validate your agreement.
7. Submit the completed form to the IRS address specified in the form instructions.

Who needs Form 872?

1. Taxpayers who want to extend the time for the IRS to assess additional tax liability.
2. Individuals or businesses needing extra time to resolve issues regarding tax filings.
3. Tax professionals representing clients who require an extension of the assessment period.

People Also Ask about

What if my current address is different from my W2?

What should I do if the address on my W-2 is different than the mailing address on my tax return? Use the address shown on your W-2 for entering your W-2 information. It doesn't matter if it's different than the mailing address you will use on your tax return.

What do I do if I have the wrong address on my tax return?

To correct the address for an Individual (1040) return, fill out the IRS Change of Address Form 8822. To correct a Business address, fill out the IRS Change of Address Form 8822-B.

How long does the IRS have to assess a deficiency?

The IRS can usually assess tax, by law, within 3 years after your return was due, including extensions, or – if you filed late – within 3 years after we received your return, whichever is later. This time period is called the Assessment Statute Expiration Date (ASED).

Can I submit form 8822-b online?

Going forward, organizations must report changes in the “responsible party” within 60 days. The form is not difficult and a sample is available (click here). Currently the form cannot be filed electronically. The instructions for the Form 8822-B provide the following guidance.

What is the purpose of the IRS form 872?

What is Form 872? Form 872 is a simple form invoice in which the Taxpayer agrees to extend the statute of limitations through the following year (usually), to allow the IRS sufficient time to work the case. They are commonplace in nearly all VDP cases.

What is the purpose of form 870?

Form 870 and Form 870-AD are used in the settlement of non-docketed cases in Tax Appeals. The basic Form 870 is typically used where a mutual concession settlement is not involved, or if there is a mutual concession settlement, the amount of the settlement is not significant enough to use a Form 870-AD.

What form do I need to change my address with the IRS?

You can use Form 8822 to notify the Internal Revenue Service if you changed your home mailing address. If this change also affects the mailing address for your children who filed income tax returns, complete and file a separate Form 8822 for each child.

Can form 8822b be electronically signed?

Submitting Form 8822-B to the IRS Currently, the IRS doesn't allow business owners to file Form 8822-B electronically. This means you can only do so by mail.

For pdfFiller’s FAQs

What is Form 872?

Form 872 is a contractual agreement used by taxpayers to extend the time for the IRS to assess additional tax. This form allows the IRS to evaluate and audit tax returns beyond the usual three-year statute of limitations.

Who is required to file Form 872?

Typically, any taxpayer who wishes to extend the time for assessing tax liability may file Form 872. This includes individuals, businesses, and organizations if they are under audit or if further review of their tax returns is necessary.

How to fill out Form 872?

To fill out Form 872, taxpayers must provide their name, address, and relevant tax information. They should indicate the type of tax, the tax periods in question, and sign the form to make it valid. It's advisable to consult a tax professional to ensure proper completion.

What is the purpose of Form 872?

The purpose of Form 872 is to legally extend the timeframe in which the IRS can audit and assess additional taxes on a taxpayer’s return. This helps ensure that both the taxpayer and the IRS have adequate time to resolve any tax issues.

What information must be reported on Form 872?

The information required on Form 872 includes the taxpayer's name, address, identification number, the type of tax, the periods covered by the extension, and signatures of authorized individuals. Additional instructions may be provided based on specific tax situations.