IRS Form 8918 Material Advisor Disclosure Statement

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Instructions for IRS Form 8918 Material Advisor Disclosure Statement

What Is IRS Form 8918?

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, 2011. Check the official IRS-issued instructions before completing and submitting the form.

FAQ

Q: What is IRS Form 8918?
A: IRS Form 8918 is the Material Advisor Disclosure Statement.

Q: Who needs to file IRS Form 8918?
A: Material advisors who provide certain reportable transactions and have a duty to disclose the transactions to the IRS.

Q: What is the purpose of filing IRS Form 8918?
A: The purpose of filing IRS Form 8918 is to disclose reportable transactions to the IRS and provide information on material advisors involved in these transactions.

Q: What are reportable transactions?
A: Reportable transactions are certain types of transactions that the IRS requires taxpayers to disclose.

Q: Who is considered a material advisor?
A: A material advisor is a person who provides material aid or assistance in organizing, managing, promoting, or selling any reportable transaction, and who directly or indirectly derives gross income from the transaction.

Q: What information is required on IRS Form 8918?
A: IRS Form 8918 requires information about the material advisor, the reportable transaction, and any applicable penalties.

Q: When is the deadline to file IRS Form 8918?
A: The deadline to file IRS Form 8918 is generally the same as the deadline for filing the tax return for the calendar year in which the material advisor first acted as a material advisor with respect to the reportable transaction.