Get the free form 8752

Amended Return. To correct an error in a Form 8752 already filed file an amended Form 8752 and write AMENDED RETURN across the top. Specific Instructions Address. Do not file Form 8752 for a personal service corporation as defined in Temporary Regulations section 1. For applicable election years beginning in 1997 Form 8752 must be filed and the required payment made on or before May 15 1998. Line 12 Refund of net prior year payments. made before ...

How to fill out form 8752

How to fill out form 8752:

1. Gather all the necessary information and documents, such as your personal details, tax identification number, and information about your investment activities.
2. Start by filling out the header section of the form, which includes your name, address, and taxpayer identification number.
3. Move on to Part I of the form, where you will provide details about your involvement in a partnership or an S corporation.
4. In Part II, you will need to disclose information about your interest in certain entities, such as foreign partnerships or controlled foreign corporations.
5. Complete Part III if you have any investment activities that may generate passive foreign investment company (PFIC) income.
6. If you meet the criteria for being a "qualified electing fund" (QEF) or a "mark-to-market" taxpayer, you will have to fill out Part IV accordingly.
7. Review your filled-out form 8752, ensuring that all the information is accurate and complete.
8. Sign and date the form before submitting it to the appropriate tax authority.

Who needs form 8752:

1. Partners of a partnership or shareholders of an S corporation who wish to elect to be taxed on their share of certain income related to qualified foreign corporations at the corporate tax rate.
2. Individuals with an interest in foreign partnerships or controlled foreign corporations.
3. Taxpayers with investments generating PFIC income.
4. Taxpayers who meet the requirements to be considered a QEF or a mark-to-market taxpayer.

Please note that it is always advisable to consult with a tax professional or refer to the official instructions provided by the tax authority to ensure accurate completion of form 8752.

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What is form 8752?

Form 8752 is a tax form used by taxpayers to request an automatic extension of time to file their return for personal holding companies or personal service corporations.

Who is required to file form 8752?

Any taxpayer who operates a personal holding company or personal service corporation and needs additional time to file their tax return must file form 8752.

How to fill out form 8752?

To fill out form 8752, taxpayers must provide their identifying information, estimate their tax liability, and explain why they need an extension of time to file. They must also sign and date the form.

What is the purpose of form 8752?

The purpose of form 8752 is to allow taxpayers who operate a personal holding company or personal service corporation to request more time to file their tax return and avoid penalties for late filing.

What information must be reported on form 8752?

On form 8752, taxpayers must report their name, address, EIN, estimated income, and taxes due, as well as provide an explanation for why they are requesting an extension of time to file.