Form 8453, also known as the U.S. Individual Income Tax Transmittal for an IRS e-file Return, is a crucial form used when electronically filing federal tax returns with the Internal Revenue Service (IRS).
The primary purpose of Form 8453 is to serve as a transmittal document that validates and authenticates the electronic submission of certain forms or schedules that cannot be e-filed as attachments.
Key features of Form 8453 include providing a signature option for taxpayers who e-file their tax returns, allowing them to verify their identity and agreement with the information submitted electronically.
When filing taxes electronically, taxpayers are required to complete and submit Form 8453 along with any supporting documents that cannot be e-filed. Failure to submit this form can result in the rejection of the electronic tax return by the IRS.
Non-compliance with the requirements of Form 8453 can lead to penalties such as the IRS rejecting the tax return, delays in processing refunds, or potential audit triggers due to missing or incomplete documentation.
Form 8453 plays a critical role in tax resolution and financial compliance by ensuring the accuracy and authenticity of electronically filed tax returns. It helps combat fraud and identity theft by requiring taxpayers to confirm their submission and provide necessary documentation securely.