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Form 8886-T

  1. Country USA
  2. Language English
  3. Activity Taxes
  4. Department Internal Revenue Service
Form 8886-T

Disclosure by Tax-Exempt Entity Regarding Prohibited Tax Shelter Transaction

Rev. December 2019

Form 8886-T is a tax disclosure form for tax-exempt entities to report prohibited tax shelter transactions. Entities include those described in sections 501(c), 501(d), and others. Transactions may be listed or confidential, with potential contractual protection. Listed transactions must be identified. Other parties' details are required. Signature of authorized official is necessary.

Instructions

  • Form 8886-T Instructions - Instructions for Form 8886-T, Disclosure by Tax-Exempt Entity Regarding Prohibited Tax Shelter Transaction
FAQ
  • What information must be provided in line 1 of Form 8886-T?

    Check the box which indicates the type of tax-exempt entity that is a party to a prohibited tax shelter transaction.

  • Who must sign Form 8886-T for a non-plan tax-exempt entity?

    The director, trustee, officer, or other official authorized to sign for the non-plan tax-exempt entity must sign Form 8886-T.

  • What must be provided on line 3 of Form 8886-T if a listed transaction is reported?

    A brief identifying description of the listed transaction and identification of the notice, revenue ruling, regulation, or other published guidance that identified the listed transaction.

  • What type of tax-exempt entity is reporting a prohibited tax shelter transaction on Form 8886-T?

    The tax-exempt entity that is a party to a prohibited tax shelter transaction reports the transaction on Form 8886-T.

  • What is a listed transaction?

    A listed transaction is a tax shelter transaction identified in published guidance from the Internal Revenue Service (IRS) as having potential for tax avoidance or evasion. These transactions are often complex and may involve multiple parties.

  • What information must be reported on line 2 of Form 8886-T?

    Check the box for all categories that apply to the transaction being reported. Report more than one category only if the transactions are materially different.

  • Who must sign Form 8886-T for a plan tax-exempt entity?

    The entity manager of the plan tax-exempt entity must sign Form 8886-T.

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ABOUT

Tax forms

Form 8886-T 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.

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