File Form 8689 only if the spouse with the higher AGI is not a bona fide resident of the USVI for the entire tax year. Instructions Purpose of form. Use Form 8689 to figure the amount of U.S. tax allocable to the U.S. Virgin Islands USVI. To take the credit you must complete Form 8689 and attach it to your Form 1040 or 1040-SR. Add line 41 and line 46 of Form 8689 and include the amount in the total on Penalty for Failure To Furnish Information If you became or ceased to be a bona fide resident...of a Statement for Individuals Who Begin or End Bona Fide Residence in a U.S. Territory. For Paperwork Reduction Act Notice see your tax return instructions. Cat. No. 64603D Form 8689 2024 This page left blank intentionally Section references are to the Internal Revenue Code unless otherwise noted. Future Developments For the latest information about developments related to Form 8689 and its instructions such as legislation enacted after they were published go to www.irs.gov/Form8689. O. Box...1303 Charlotte NC 28201-1303 USA. File a signed copy of your tax return with all attachments forms and schedules including Form 8689 with the Virgin Islands Bureau of Internal Revenue 6115 Estate Smith Bay Suite 225 St. Thomas VI 00802. Where to file. You must file identical tax returns with the United States and the USVI. If you are not enclosing a check or money order file your original tax return including Form 8689 with the Department of the Treasury Internal Revenue Service Austin TX...73301-0215 USA. Send your Form 1040-X to the USVI at the address for the Virgin Islands Bureau of Internal Revenue under Where to file earlier. Form Department of the Treasury Internal Revenue Service Allocation of Individual Income Tax to the U*S* Virgin Islands OMB No* 1545-0074 Attach to Form 1040 or 1040-SR* Go to www*irs*gov/Form8689 for the latest information* Attachment Sequence No* 869 Your social security number Name s shown on Form 1040 or 1040-SR your tax return Part I. Adjusted Gross...Income From the USVI Allocation of Tax to the USVI Enter the amount from the total tax line on your tax return. Enter total of certain amounts from your tax return* See instructions on page 4 for amount to enter. Subtract line 32 from line 31 Divide line 30 above by line 34. Enter the result as a decimal rounded to at least 3 places. Do not enter more than 1. 000 Multiply line 33 by line 35. This is your tax allocated to the USVI. Educator expenses Certain business expenses of reservists...performing artists and fee-basis government officials Health savings account deduction Moving expenses for members of the armed forces. Deductible part of self-employment tax. Self-employed SEP SIMPLE and qualified plans. Penalty on early withdrawal of savings. IRA deduction. Student loan interest deduction. Reserved for future use. Add lines 17 through 28. Income From the U*S* Virgin Islands USVI Wages salaries tips etc*. Taxable interest. Ordinary dividends. Taxable refunds credits or offsets...of local USVI income taxes.
pdfFiller is not affiliated with IRS
Get, Create, Make, and Sign IRS 8689
Edit your IRS 8689 online
Type text, complete fillable fields, insert images, highlight or blackout data for discretion, add comments, and more.
Add your legally-binding signature
Draw or type your signature, upload a signature image, or capture it with your digital camera.
Share your form instantly
Email, fax, or share your IRS 8689 via URL. You can also download, print, or export forms to your preferred cloud storage service.
Instructions and Help about IRS 8689
How to edit IRS 8689
How to fill out IRS 8689
Instructions and Help about IRS 8689
How to edit IRS 8689
Editing the IRS 8689 form can be done using tools designed for forms management. Using pdfFiller, users can easily fill in, change, or correct entries in the form before submission. The software allows for adjustments to be made in a user-friendly environment, ensuring compliance with IRS requirements.
How to fill out IRS 8689
Filling out the IRS 8689 form requires careful attention to detail. Start by clearly printing or typing your information in the designated fields. Ensure that you check for accuracy, especially with your taxpayer identification number and the amounts being reported. Reference the IRS instructions for specific guidance on required information and format.
Latest updates to IRS 8689
Latest updates to IRS 8689
Stay informed about any changes to IRS 8689 by regularly checking the IRS website or subscribing to tax updates. Changes may include revisions to filing instructions or updates in tax law pertinent to the form.
About IRS 8 previous version
What is IRS 8689?
What is the purpose of this form?
Who needs the form?
When am I exempt from filling out this form?
Components of the form
Due date
What payments and purchases are reported?
How many copies of the form should I complete?
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 8 previous version
What is IRS 8689?
IRS 8689, officially known as "Application for Entering into an Installment Agreement," is a tax form utilized by taxpayers who wish to request a payment plan when they owe tax debts. This form enables individuals to express their financial inability to pay all taxes due upfront, offering an avenue for manageable repayment over time.
What is the purpose of this form?
The purpose of IRS 8689 is to establish a formal request for an installment agreement with the IRS. By submitting this form, taxpayers can propose a schedule for paying off their tax liabilities, which can alleviate financial pressure and help them avoid penalties associated with immediate full payment requirements.
Who needs the form?
Taxpayers who find themselves unable to pay their tax bill in full at the time of filing should consider completing IRS 8689. This includes individuals and entities facing financial hardship as well as those who might have underpaid their taxes due to unforeseen circumstances. It is essential for them to file this form to communicate their situation to the IRS effectively.
When am I exempt from filling out this form?
Taxpayers may be exempt from filing IRS 8689 if they can pay their tax liabilities in full by the due date. Additionally, those who have no tax balance due or are not required to file a tax return for the year may also forgo completing this form. Understanding your tax status is key to determining the necessity of filing IRS 8689.
Components of the form
The IRS 8689 form consists of several key components, including personal identification information, details regarding the amount owed, proposed payment amounts, and payment frequency. Each section must be filled out accurately to ensure that the request for an installment agreement is processed smoothly.
Due date
The due date for IRS 8689 typically aligns with the tax payment deadlines for the year in question. Taxpayers should submit the form as soon as they realize they will not meet their tax obligations, ideally before the tax filing deadline to avoid penalties. However, specific deadlines can vary based on individual circumstances, so it's important to verify current IRS guidelines.
What payments and purchases are reported?
IRS 8689 requires reporting of all tax liabilities owed to the IRS, including income taxes, self-employment taxes, and additional penalties or interest accrued. Taxpayers must ensure they include any and all amounts owed to avoid complications with their installment agreement proposal.
How many copies of the form should I complete?
Taxpayers should generally complete one copy of IRS 8689 for submission. However, it's advisable to keep a copy for personal records. Retaining a duplicate can be beneficial for tracking purposes and for reference in case of any disputes or clarifications needed in the future.
What are the penalties for not issuing the form?
Failing to issue IRS 8689 when necessary can result in the accrual of additional penalties and interest on the unpaid tax balance. The IRS may initiate collection actions, including wage garnishments or bank levies, against taxpayers who do not communicate their payment difficulties. Filing the form provides a protective measure for taxpayers seeking assistance.
What information do you need when you file the form?
When filing IRS 8689, you will need your Social Security number (or Employer Identification Number), details of your taxable income, the total amount owed, and proposed installment payment amounts. Accurate financial disclosure is crucial, as it informs the IRS of your ability to pay and helps facilitate the approval of your installment agreement.
Is the form accompanied by other forms?
IRS 8689 may need to be submitted alongside other supporting documentation, depending on your specific situation. Taxpayers may have to provide copies of their most recent tax returns and any relevant schedules if requested by the IRS. Always check for additional documentation requirements to ensure complete submissions.
Where do I send the form?
IRS 8689 should be sent to the address specified in the instructions accompanying the form. Typically, this may vary based on the location of the taxpayer and their tax filing status. It is essential to confirm the correct mailing address provided in the IRS instructions to avoid delays in processing your request.
FAQ about IRS 8689
What should I do if I notice an error after submitting the IRS 8689?
If you discover an error after submitting the IRS 8689, you will need to file an amended version of the form. Be sure to clearly indicate the corrections made and include any necessary supporting documentation. This ensures proper processing and helps prevent potential complications with your submission.
How can I verify the status of my IRS 8689 submission?
To check the status of your IRS 8689 submission, you can utilize the IRS 'Where's My Refund?' tool on their website. Be sure to have your pertinent information ready, as this will help you navigate the system efficiently. It’s important to note that processing times may vary, so patience is sometimes necessary.
What should I keep in mind regarding data security when submitting the IRS 8689 electronically?
When e-filing the IRS 8689, it's crucial to ensure that your internet connection is secure and that you are using a reputable software program. Additionally, keep your sensitive personal information, like Social Security numbers, confidential. Regularly updating your passwords can also help safeguard your data.
What steps must nonresidents take when filing the IRS 8689?
Nonresidents filing the IRS 8689 should ensure they provide accurate details concerning their foreign status and any applicable treaties that might affect their obligations. It’s essential to understand the specific regulations that pertain to foreign payees, including how income sourced in the U.S. is treated.
How can I address a notice I received about my IRS 8689 submission?
If you receive a notice regarding your IRS 8689 submission, carefully read the correspondence for instructions on how to respond. Gather the documentation requested and make sure to submit any responses within the deadlines specified. Properly addressing notices can help clarify any issues and ensure your submission is processed correctly.
Use this catalog to find any type of IRS forms. We've gathered all of them under this section uncategorized to help you to find a proper form faster. Once you spot it on this list, have a look at the versions and schedules you might need as attachments. All returns are available for 2016 and for previous fiscal years.
