Rev. March 2021
Form 5884 is a tax form revised in March 2021, issued by the Department of the Treasury and Internal Revenue Service. The form is used to claim the work opportunity credit for employers based on wages paid to employees certified as members of targeted groups. The form includes instructions and can be found on IRS.gov. Employers are required to report qualified first-year and second-year wages for employees who meet certain hours worked conditions, and calculate the corresponding percentage-based credit. Employers may also claim a work opportunity credit from partnerships, S corporations, cooperatives, estates, and trusts. The form contains instructions on reporting the amount for cooperatives, estates, and trusts, and for partnerships and S corporations.
The estimated burden for recordkeeping for individual and business taxpayers filing Form 5884 is 3 hours and 6 minutes.
The estimated burden for preparing and sending Form 5884 to the IRS is 2 hours and 34 minutes.
Form 8582-CR is used to determine the allowed credit that must be allocated between an estate or trust and its beneficiaries. It is used to comply with the passive activity rules.
Form 8810 is used to determine the allowed credit that must be allocated to patrons by a cooperative. It is used to comply with the passive activity rules.
The estimated burden for learning about the law or the form for individual and business taxpayers filing Form 5884 is 1 hour and 15 minutes.
Form 5884 is one of Tax forms that are documents used to report information related to taxes to the relevant tax authority. There are various types of tax forms, including federal, state, and local tax forms, which can vary depending on the taxpayer's circumstances and location.
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