IRS 8804 2022-2025 free printable template

Form8804(Rev. November 2022) Department of the Treasury Internal Revenue ServiceAnnual Return for Partnership Withholding Tax (Section 1446)OMB No. 15450123Attach Form(s) 8804C and 8805. Go to www.irs.gov/Form8804

How to fill out 8804 annual fill form

How to fill out IRS 8804

1. Gather necessary information, including the partnership's name, address, and Employer Identification Number (EIN).
2. Determine the total income for the partnership and any applicable deductions.
3. Fill out Part I of IRS 8804, providing details about the partnership and the total income related to the Unrelated Business Taxable Income (UBTI).
4. Calculate the tax owed on any effectively connected income as specified in Part II.
5. Complete Part III, which includes listing the names and identifying numbers of all partners.
6. Report any withholding tax, if applicable, in Part IV.
7. Verify all calculations and ensure that the form is signed by an authorized member of the partnership.
8. Submit the completed form by the due date, including any required payment.

Who needs IRS 8804?

1. Partnerships that have effectively connected income that is subject to U.S. taxation need to file IRS 8804.
2. Foreign partnerships with partners who are not U.S. citizens or residents that have income from U.S. sources.
3. Those partnerships that have withheld taxes for their foreign partners must also file this form.

People Also Ask about 8804 1446 form

Do I need to fill out form 8858?

Who Needs to File Form 8858? You will need to file Form 8858 if you are the owner of a foreign entity that is considered a disregarded entity for US income tax purposes.

How do I report a disregarded entity on 1040?

As a disregarded entity, you report your total business income, expenses, and profits on the Schedule C, which you file with your Form 1040: U.S. Individual Income Tax Return. The information from the Schedule C is added to line 12 of Schedule 1: Additional Income and Adjustments to Income.

Can you electronically file form 8804?

Answer. No. The IRS supports electronic filing only for Form 1065 and related forms and schedules and the extension Form 7004. Any forms that are filed to the IRS separately from Form 1065, such as Form 8804, are not included in the electronic file and, therefore, must be filed on paper.

What is the penalty for filing form 8804?

Form 8804 Penalties 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. The penalty will not apply if the partnership can show reasonable cause for filing late.

Who is required to file form 8804?

If a partnership with a foreign partner has income that is effectively connected with a US business or trade, it must report a partnership withholding tax. This is done by filing Form 8804 and Form 8805.

What is the IRS form for disregarded entity?

An eligible entity uses Form 8832 to elect how it will be classified for federal tax purposes, as: A corporation. A partnership. An entity disregarded as separate from its owner.

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What is IRS 8804?

IRS Form 8804 is a tax form used by partnerships to report their share of effectively connected income and to pay the withholding tax on behalf of foreign partners.

Who is required to file IRS 8804?

Partnerships with foreign partners are required to file IRS Form 8804 if they have effectively connected income and must withhold taxes on behalf of those partners.

How to fill out IRS 8804?

To fill out IRS Form 8804, partnerships must provide information about their income, the distribution of income to partners, and the amount of taxes withheld from foreign partners.

What is the purpose of IRS 8804?

The purpose of IRS Form 8804 is to ensure proper assessment and payment of taxes on effectively connected income allocated to foreign partners in a partnership.

What information must be reported on IRS 8804?

IRS Form 8804 requires reporting of the partnership's name, address, EIN, the total effectively connected taxable income, the number of foreign partners, and the amount of tax withheld.