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IRS Form 8886-T Disclosure by Tax Exempt Entity Regarding Prohibited Tax Shelter Transaction
What Is IRS Form 8886-T?
This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury on December 1, 2019. Check the official IRS-issued instructions before completing and submitting the form.
FAQ
Q: What is IRS Form 8886-T?
A: IRS Form 8886-T is a form used by tax-exempt entities to disclose information about prohibited tax shelter transactions.
Q: Who is required to file IRS Form 8886-T?
A: Tax-exempt entities that have engaged in prohibited tax shelter transactions are required to file IRS Form 8886-T.
Q: What is a prohibited tax shelter transaction?
A: A prohibited tax shelter transaction is a transaction that the IRS has determined to be an abusive tax avoidance transaction.
Q: What information needs to be disclosed on IRS Form 8886-T?
A: IRS Form 8886-T requires tax-exempt entities to disclose specific details about the prohibited tax shelter transaction, including the parties involved and the tax benefits received.
Q: When is IRS Form 8886-T due?
A: IRS Form 8886-T is generally due on the date the tax return for the tax year in which the transaction occurred is due.
Q: What are the consequences of not filing IRS Form 8886-T?
A: Failure to file IRS Form 8886-T can result in penalties and additional tax liabilities for the tax-exempt entity.
Q: Is IRS Form 8886-T required for all tax-exempt entities?
A: No, IRS Form 8886-T is only required for tax-exempt entities that have engaged in prohibited tax shelter transactions.
Form Details:
- A 1-page form available for download in PDF;
- Actual and valid for filing 2023 taxes;
- Editable, printable, and free;
- Fill out the form in our online filing application.
Download a fillable version of IRS Form 8886-T through the link below or browse more documents in our library of IRS Forms.
