This version of the form is not currently in use and is provided for reference only. Download this version of Instructions for IRS Form 8886 for the current year.
This document contains official instructions for IRS Form 8886 , Reportable Transaction Disclosure Statement - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury. An up-to-date fillable IRS Form 8886 is available for download through this link.
Q: What is IRS Form 8886?
A: IRS Form 8886 is the Reportable Transaction Disclosure Statement.
Q: Who needs to file IRS Form 8886?
A: Taxpayers who have participated in certain reportable transactions are required to file IRS Form 8886.
Q: What is a reportable transaction?
A: A reportable transaction is a transaction that the IRS has identified as potentially abusive tax avoidance.
Q: When is IRS Form 8886 due?
A: IRS Form 8886 is generally due on the original due date of the taxpayer's income tax return, including extensions.
Q: What information is required on IRS Form 8886?
A: IRS Form 8886 requires taxpayers to disclose specific details about the reportable transaction they participated in.
Q: What are the consequences of not filing IRS Form 8886?
A: Failure to file IRS Form 8886 can result in significant penalties and the disallowance of certain tax benefits.
Instruction Details:
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