What are the penalties for not filing or incorrectly filing Form 8804-W?

Penalties for failing to file or incorrectly filing Form 8804-W include underpayment of taxes, failure-to-file penalties, and interest on late payments. The partnership may also be subject to fines and possible legal action.

What information does a partnership need to complete Form 8804-W?

A partnership needs information about the real property sale, including the purchase price, selling price, gain or loss, and the installment payments schedule. Additionally, it may need information related to state and local taxes, certified partner-level items, and reductions for foreign tax credits.

When is Form 8804-W due?

Form 8804-W must be filed with the IRS Service Center where the partnership files its annual income tax return within 20 days after the sale of the real property. The first installment payment is typically due within 180 days after the close of the sale.

Who must file Form 8804-W?

A partnership that has sold real property to a foreign person under FIRPTA must file Form 8804-W. The partnership is also responsible for withholding and paying the required installments to the IRS.

What are the required installments for Form 8804-W?

The required installments for Form 8804-W depend on the gain recognized from the real property sale, the installment payment schedule, and any applicable reductions. The partnership must determine the amount of each installment payment and when it is due.

Form 8804-W

Fill out this form

Chat with document

Create Web Form

Installment Payments of Section 1446 Tax for Partnerships

Rev. 2024

This text provides instructions for completing Form 8804-W, which is used to calculate required installment payments under the Foreign Investment in Real Property Tax Act (FIRPTA). The form includes Part I for taxpayers electing to apply the annualized income method and Part II for taxpayers not making this election. Part III applies if the taxpayer has previously made an election but later revokes it. Instructions are provided for completing each part of the form, as well as for calculating applicable percentages and required installment payments.

Instructions

Form 8804-W Instructions - Instructions for Form 8804-W (WORKSHEET), Installment Payments of Section 1446 Tax for Partnerships

Search tags

FAQ

What are the penalties for not filing or incorrectly filing Form 8804-W?
Penalties for failing to file or incorrectly filing Form 8804-W include underpayment of taxes, failure-to-file penalties, and interest on late payments. The partnership may also be subject to fines and possible legal action.
What is Form 8804-W used for?
Form 8804-W is used by a partnership to calculate and report installment sales of real property under the Foreign Investment in Real Property Tax Act (FIRPTA). It determines the amount and timing of required installments to be paid or withheld.
What information does a partnership need to complete Form 8804-W?
A partnership needs information about the real property sale, including the purchase price, selling price, gain or loss, and the installment payments schedule. Additionally, it may need information related to state and local taxes, certified partner-level items, and reductions for foreign tax credits.
When is Form 8804-W due?
Form 8804-W must be filed with the IRS Service Center where the partnership files its annual income tax return within 20 days after the sale of the real property. The first installment payment is typically due within 180 days after the close of the sale.
Who must file Form 8804-W?
A partnership that has sold real property to a foreign person under FIRPTA must file Form 8804-W. The partnership is also responsible for withholding and paying the required installments to the IRS.
What are the required installments for Form 8804-W?
The required installments for Form 8804-W depend on the gain recognized from the real property sale, the installment payment schedule, and any applicable reductions. The partnership must determine the amount of each installment payment and when it is due.

HOW TO

How to fill out Form 8804-W for free, online in 3 easy steps:

1
Open form template in editor
Click on the “Get this template” button.
2
Fill out Form 8804-W
Wait a moment and you will be redirected to our online PDF Filler app.
3
Download file
Download your completed Form 8804-W for free. You can also save it to a cloud storage.

ABOUT

Tax forms

Form 8804-W is one of Tax forms that are documents used to report income, deductions, and tax liability to the relevant tax authority. These forms are an essential part of the tax filing process and are used to ensure individuals and businesses comply with tax laws and accurately calculate their tax obligations.

The specific tax forms required can vary depending on factors such as an individual's filing status, sources of income, and the country's tax laws. However, here are some common types of tax forms:

Individual Income Tax Forms: These forms, such as the 1040 series in the United States, are used by individuals to report their income, claim deductions and credits, and calculate their tax liability.

Business Tax Forms: Businesses, including sole proprietorships, partnerships, corporations, and self-employed individuals, may have to file various forms to report their income, expenses, and taxes owed. Examples include Schedule C (Profit or Loss from Business) and Form 1120 (U.S. Corporation Income Tax Return).

Employment Tax Forms: Employers are required to report employee wages and withhold and remit payroll taxes. Forms such as W-2 (Wage and Tax Statement) and 941 (Employer's Quarterly Federal Tax Return) are used for this purpose.

Investment and Retirement Account Forms: These forms are used to report investment income, capital gains, and losses, as well as contributions and distributions from retirement accounts. Examples include Form 1099-DIV (Dividends and Distributions) and Form 5498 (IRA Contribution Information).

Estate and Gift Tax Forms: When a person passes away or makes significant gifts, specific forms such as Form 706 (United States Estate (and Generation-Skipping Transfer) Tax Return) and Form 709 (United States Gift (and Generation-Skipping Transfer) Tax Return) are used to report and calculate any applicable estate or gift taxes.

It is important to note that tax laws and forms can change over time, so individuals and businesses should consult the relevant tax authority or seek professional tax advice to ensure compliance with the current requirements.

FEATURES

PDF Filler

The easiest way to fill Form 8804-W online

Quickly fill out Form 8804-W
Looking for a way to quickly fill Form 8804-W online? With our online free PDF form filler, you’ll know how to how to edit and fill this pdf document in less than a minute.
Easy to use online PDF editor
Fed up with printing out PDF files so you can edit them, before rescanning and sending them back? Edit PDF documents for free online. Use our online pdf editor to save time and paper.
Great tools, all platforms
Wondering how to fill in Form 8804-W on a Mac, or maybe how to use a PDF filler free? Our online PDF tools work on all platforms.
Secure file storage
Completed "Form 8804-W" files are stored in a secured database managed by Amazon Cloud hosting. You can delete your files from our system anytime. In any case, these files are automatically deleted after 24 hours.
Chat with Form 8804-W
Chat with "Form 8804-W" on Chatize that is a free PDF reader assistant. Ask questions and get answers from "Form 8804-W". Just click on Chat With Document button above.

Products

Docs

Websites

About