Rev. November 2018
Form 8697 instructions for computing interest on underpayments or overpayments of alternative minimum tax (AMT) and regular tax for prior years due to differences between actual contract prices and estimated prices. This form is used when a taxpayer has had income from contracts that were not completed until after February 1986, and the reported amounts were based on estimated prices instead of actual prices.
If you do not provide the required information, you may forfeit any refund of interest otherwise owed to you and/or be subject to penalties.
The Department of Justice represents the federal government in civil and criminal litigation. If you need legal assistance, you should contact a private attorney.
You may file a complaint with the National Taxpayer Advocate by mail, email, or phone. The contact information is available on their website at <https://www.taxadvocate.irs.gov/contact-us/>.
The look-back method computes interest based on the total amount of underpayments or overpayments of tax during the applicable redetermination year. It allows taxpayers to avoid double interest charges by taking into account both prior and subsequent periods of time.
The Paperwork Reduction Act requires federal agencies to evaluate the burden imposed on the public by the collection of information, and to minimize that burden whenever possible.
Tax returns and return information are confidential, as required by section 6103. If you do not provide your identifying number, you may be subject to penalties.
You may contact the Privacy Act Office at the Department of Health and Human Services, or visit their website at <https://www.hhs.gov/privacy/index.html> for information on your rights under the Privacy Act.
Form 8697 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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