Instructions for IRS Form 8898 Statement for Individuals Who Begin or End Bona Fide Residence in a U.S. Possession

IRS Form 8898 Statement for Individuals Who Begin or End Bona Fide Residence in a U.S. Possession

This document contains official instructions for IRS Form 8898 , Statement for Individuals Who Begin or End Bona Fide Residence in a U.S. Possession - 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 8898 is available for download through this link.

FAQ

Q: What is IRS Form 8898?
A: IRS Form 8898 is a statement for individuals who begin or end bona fide residence in a U.S. possession.

Q: What is a bona fide residence in a U.S. possession?
A: Bona fide residence in a U.S. possession refers to living in a U.S. territory or possession with the intention of making it your true and permanent home.

Q: Who needs to file IRS Form 8898?
A: Individuals who begin or end bona fide residence in a U.S. possession during the tax year need to file IRS Form 8898.

Q: What information is required on IRS Form 8898?
A: IRS Form 8898 requires information about the individual's residency status, the U.S. possession they are residing in, and the dates of residency.

Q: When is the deadline to file IRS Form 8898?
A: The deadline to file IRS Form 8898 is usually the same as the federal income tax return deadline, which is April 15th.

Q: Are there any penalties for not filing IRS Form 8898?
A: Yes, there may be penalties for not filing IRS Form 8898 or for filing it late. It is important to comply with the filing requirements.

Q: Can I file IRS Form 8898 electronically?
A: Yes, IRS Form 8898 can be filed electronically if you are using IRS-approved software or working with a tax professional.

Q: Do I need to attach any supporting documents with IRS Form 8898?
A: There is no requirement to attach supporting documents, but it is important to keep them for your records in case of an audit.

Q: Can I get an extension to file IRS Form 8898?
A: Yes, you can get an extension to file IRS Form 8898 by filing Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return.