Glossary

Form 8275-R – Regulation Disclosure Statement

What is Form 8275-R – Regulation Disclosure Statement?

Form 8275-R, also known as the Regulation Disclosure Statement, is an IRS form that taxpayers use to disclose positions taken on their tax return that go against a specific Treasury regulation. By using Form 8275-R, taxpayers can avoid certain penalties if the IRS later disagrees with their interpretation of a regulation.

0:00 0:00

100

Related Concepts and Terms

Understanding Form 8275-R also involves familiarity with other tax concepts:

Substantial Understatement Penalty: This is the penalty you’re trying to avoid by using Form 8275-R.
Reasonable Basis: This is the legal standard for when you can avoid penalties when disclosing a position on Form 8275-R. You must have a reasonable basis for why your position is correct, and it can’t be frivolous.
Treasury Regulations: The very rules you are disclosing you are not following to the letter of the law.
Tax Court: If the IRS disagrees with your interpretation of the law, you may end up in Tax Court, which is a court that specializes in tax matters.

Recommended for You

CP223 Penalty for Missing Tax Payments

The CP223 notice informs taxpayers of penalties due to missed tax payments, outlining any additional tax liabilities and necessary corrective actions.

Warehouse Optimization Studies Deduction

Warehouse Optimization Studies Deduction allows businesses to deduct expenses related to improving warehouse efficiency, subject to specific compliance requirements.

Lien Holder

A lien holder is a party that has a legal right or interest in another's property, usually until a debt owed by the property owner is satisfied.

CP182 Penalty for Incorrect Bank Information

The CP182 penalty is levied by the IRS for providing incorrect bank information, especially regarding tax refunds or payments. Learn its implications and how to avoid it.

Revenue Officer Assistance

Revenue Officer Assistance provides guidance to taxpayers in resolving complex tax issues and ensuring compliance with IRS regulations.

Disaster Relief EV Integration Credit

The Disaster Relief EV Integration Credit is a tax incentive facilitating the integration of electric vehicles for disaster relief purposes. It aims to support eco-friendly disaster management solutions.

Form 433-A – Collection Information Statement for Wage Earners and Self-Employed Individuals (highlighted under collection strategies)

Form 433-A - Collection Information Statement for Wage Earners and Self-Employed Individuals is a vital document for tax compliance.

Dependent Exemption

A dependent exemption was a way to reduce your taxable income for each qualifying child or relative you supported. This deduction has been replaced by the child tax credit, but understanding it helps put the current tax system in perspective.

Multi-Jurisdictional Tax Liens

Multi-Jurisdictional Tax Liens involve claims by multiple taxing authorities against a taxpayer's assets due to unpaid taxes. They require careful management to resolve.

Coastal Workforce Electrification Job Credit

The Coastal Workforce Electrification Job Credit incentivizes clean energy projects and supports local jobs in coastal areas through tax benefits.

EV Public Fleet Transition Credit

The EV Public Fleet Transition Credit incentivizes public fleets to switch to electric vehicles, aiming to reduce emissions and promote sustainability.

Business Payment Waiver Approval Form

The Business Payment Waiver Approval Form is essential for businesses seeking a waiver of penalties or fees related to tax payments, ensuring tax compliance and financial stability.

Payment Method Change

Discover the tax-related aspects of changing payment methods, including compliance requirements and potential penalties.

Asset Liquidation

Asset Liquidation refers to converting assets into cash to satisfy debts or liabilities, a vital step in tax and financial compliance.

Statewide Recycling Credit

The Statewide Recycling Credit is a tax credit initiative aimed at encouraging recycling efforts through financial incentives.

Real Estate Tax Compliance Bonds

Real Estate Tax Compliance Bonds are financial instruments designed to ensure compliance with real estate tax obligations and protect against potential defaults.

Loss from Unusable Inventory Deduction

The Loss from Unusable Inventory Deduction allows businesses to claim tax deductions for inventory that is no longer sellable, helping reduce tax liability.

Translation Tools for Export Markets Deduction

The Translation Tools for Export Markets Deduction allows businesses to deduct expenses related to translating materials for foreign market expansion, promoting growth and easing compliance.

Small Business Renewable Job Development Credit

The Small Business Renewable Job Development Credit focuses on incentivizing small businesses to create jobs within the renewable energy sector, offering tax credits for eligible developments.

Professional Influencer Marketing Fees Deduction

Professional Influencer Marketing Fees Deduction allows influencers to deduct expenses incurred during marketing, ensuring tax efficiency.