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This version of the form is not currently in use and is provided for reference only. Download this version of
IRS Form 8991
for the current year.
IRS Form 8991 Tax on Base Erosion Payments of Taxpayers With Substantial Gross Receipts
What Is IRS Form 8991?
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, 2020. Check the official IRS-issued instructions before completing and submitting the form.
FAQ
Q: What is IRS Form 8991?
A: IRS Form 8991 is a form used to calculate and report the tax on base erosion payments of taxpayers with substantial gross receipts.
Q: Who needs to file IRS Form 8991?
A: Taxpayers with substantial gross receipts who have made base erosion payments must file IRS Form 8991.
Q: What are base erosion payments?
A: Base erosion payments refer to certain payments made by a taxpayer to foreign related parties that may be used to reduce the taxpayer's US taxable income.
Q: What is the purpose of IRS Form 8991?
A: The purpose of IRS Form 8991 is to calculate and report the tax due on base erosion payments and to provide relevant information to the IRS.
Q: Is filing IRS Form 8991 mandatory?
A: Yes, filing IRS Form 8991 is mandatory for taxpayers with substantial gross receipts who have made base erosion payments.
Q: When is the deadline for filing IRS Form 8991?
A: The deadline for filing IRS Form 8991 is usually the same as the deadline for filing the taxpayer's federal income tax return.
Q: What should I do if I need help filling out IRS Form 8991?
A: If you need help filling out IRS Form 8991, you can consult a tax professional or seek assistance from the IRS.
Q: Are there any penalties for not filing IRS Form 8991?
A: Yes, there may be penalties for not filing IRS Form 8991, including potential monetary fines.
Q: Can I e-file IRS Form 8991?
A: As of now, e-filing IRS Form 8991 is not allowed. It must be filed in paper format.
Form Details:
- A 7-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 8991 through the link below or browse more documents in our library of IRS Forms.
Download IRS Form 8991 Tax on Base Erosion Payments of Taxpayers With Substantial Gross Receipts
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