IRS 8879-PE Explained
What is IRS 8879-PE?
The IRS 8879-PE form is a declaration for electronic filing of partnership returns. It is primarily used by partnerships and their tax preparers to authenticate the submission of their tax returns electronically. By using this form, partnerships confirm that their returns have been completed and that the information provided is accurate. This form is crucial for ensuring compliance with IRS regulations regarding electronic filing for partnerships.
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Purpose of IRS 8879-PE
The IRS 8879-PE serves significant purposes in the electronic filing process for partnerships. Firstly, it allows tax professionals to e-file partnership tax returns while maintaining compliance with IRS standards. The form provides authorization for the preparer to file the return electronically on behalf of the partnership. Additionally, it helps streamline the filing process and reduces the potential for errors, ensuring that tax returns are filed accurately and promptly.
Where is IRS 8879-PE used and by whom?
This form is commonly used by partnerships, which can include small businesses, joint ventures, and other business entities structured as partnerships. The typical users are tax professionals who prepare partnership tax returns on behalf of these entities. In specific scenarios, the following groups may utilize IRS 8879-PE:
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1.Partnerships looking to file Form 1065 (U.S. Return of Partnership Income) electronically.
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2.Tax professionals handling partnership filings for their clients.
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3.Accountants needing to obtain authorization from partnerships to file returns on their behalf.
Step-by-step: how to fill out IRS 8879-PE
Filling out the IRS 8879-PE involves several straightforward steps. Here is a section-by-section guide:
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1.Part I - Partnership Information: Enter the name of the partnership, the partnership’s Employer Identification Number (EIN), and the address.
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2.Part II - Preparer Information: Input the name, signature, and other relevant details of the preparer.
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3.Part III - Declaration: The authorized partner must sign and date this section to confirm the accuracy of the information.
Users can complete the IRS 8879-PE easily with pdfFiller, which allows for seamless editing, e-signatures, and collaboration on the document.
Who is required to complete IRS 8879-PE?
Entities that need to submit the IRS 8879-PE include all partnerships that choose to file their returns electronically. This requirement applies to partnerships regardless of their size, provided they are utilizing a tax professional to file their partnership returns. Failure to use this form when electronically filing can lead to complications with the IRS.
Information you need to complete IRS 8879-PE
To complete the IRS 8879-PE, you will need the following information:
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1.Name of the partnership
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2.Employer Identification Number (EIN)
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3.Partnership address
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4.Name of the tax preparer
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5.Preparer’s contact information
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6.Signature of the partner authorizing e-filing
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7.Date of signing
How to submit IRS 8879-PE
To submit the IRS 8879-PE, you can follow these common channels:
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1.Electronic submission through a tax preparation software, often directly done by the tax professional.
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2.Filing via secure IRS systems that accept electronic tax forms.
Ensure that the form is submitted alongside the partnership tax return on or before the filing deadline, which is usually the 15th day of the third month following the end of the partnership's tax year.
When to update or refile IRS 8879-PE
There are specific events that may necessitate updating or refiling the IRS 8879-PE. These include:
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1.Change of partnership address
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2.Modification of partnership structure
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3.Changes to the authorized partner or tax preparer
If any of these changes occur after the form has been filed, a new form should be completed and submitted to ensure updated authorization.
What happens if you don’t file IRS 8879-PE?
Failing to file IRS 8879-PE, or filing it incorrectly, can have serious consequences. Potential issues include:
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1.Rejection of the electronically filed partnership tax return.
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2.Increased scrutiny or penalties from the IRS for non-compliance.
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3.Delays in processing refunds, if applicable.
To avoid complications, it is critical to ensure that this form is completed and filed correctly along with the partnership's tax return on time.
Fill out IRS 8879-PE online
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Frequently Asked Questions About the IRS 8879-PE
What is the IRS 8879-PE form?
The IRS 8879-PE form is an important document used by partnerships and multi-member LLCs to authorize an electronic signature for their tax return submission. Understanding how to properly fill out the IRS 8879-PE ensures that your return is filed correctly and on time. Using pdfFiller, you can easily create, edit, and manage your IRS 8879-PE form online.
Who needs to fill out the IRS 8879-PE?
Any partnership or multi-member LLC that chooses to file their tax return electronically must fill out the IRS 8879-PE form. This requirement helps streamline the e-filing process and ensures that you have proper authorization. Utilizing pdfFiller, you can efficiently complete the IRS 8879-PE and ensure compliance with IRS regulations.
How do I electronically sign the IRS 8879-PE?
To electronically sign the IRS 8879-PE, you simply need to complete the form and follow the signing instructions provided. By using pdfFiller, you can add your electronic signature directly to the IRS 8879-PE without the need for printing. This not only saves time but also ensures your form is filed electronically and securely.
Can I amend my IRS 8879-PE form after submission?
If you need to amend your IRS 8879-PE form after submission, you can do so by filing an amended return accompanied by a new IRS 8879-PE if necessary. However, if the electronic filing is already completed, the amendment process may require additional steps. pdfFiller offers tools to help you manage and amend your IRS 8879-PE and related documents seamlessly.
What happens if I don't submit the IRS 8879-PE?
Failing to submit the IRS 8879-PE form can result in your tax return being rejected by the IRS. This is because the form serves as your electronic signature authorization. Therefore, it's crucial to ensure that your IRS 8879-PE is completed and submitted properly when e-filing your tax return.
How can I access the IRS 8879-PE form online?
You can easily access the IRS 8879-PE form online through the IRS website or by using document management platforms like pdfFiller. With pdfFiller, you can quickly find, fill out, and manage your IRS 8879-PE form from anywhere, making tax season more manageable. The platform ensures that you have all necessary features at your fingertips.
What information is required on the IRS 8879-PE?
The IRS 8879-PE requires specific information, including the partnership's name, address, and EIN, as well as the names and signatures of the authorized representatives. Ensuring accuracy in filling out these details is essential to prevent complications with the IRS. pdfFiller allows you to enter this information easily and accurately for your IRS 8879-PE form.
How does the IRS 8879-PE relate to electronic filing?
The IRS 8879-PE form is directly related to electronic filing as it serves as authorization for filing a partnership's tax return electronically. This form enables the IRS to verify that the responsible individuals approve the submitted information. pdfFiller streamlines this process, allowing you to complete the IRS 8879-PE swiftly and file your return with confidence.
Are there penalties for incorrectly filling out the IRS 8879-PE?
Yes, incorrect information on the IRS 8879-PE can lead to filing penalties and potentially delay your tax return processing. It is vital to review the form for accuracy before submission to avoid complications with the IRS. Using pdfFiller provides built-in checks that can help ensure your IRS 8879-PE is filled out correctly.
Where can I find help for completing the IRS 8879-PE?
For assistance in completing the IRS 8879-PE, you can find guidance on the IRS website or leverage online resources like pdfFiller. The platform offers tutorials and customer support to aid you in correctly filling out your forms. This can help demystify the process and ensure your IRS 8879-PE is completed correctly.
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