Form 3520 – Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts
Form 3520 is an IRS form used to report certain transactions with foreign trusts and large gifts received from foreign persons. It ensures transparency in financial dealings with international connections.
Form 8938 – Statement of Specified Foreign Financial Assets (previously listed but critical here)
Form 8938 is an IRS form used to report specified foreign financial assets. If you have significant assets held outside the U.S., this form might be relevant to you.
Form 1139 – Corporation Application for Tentative Refund
Form 1139 is a way for corporations to quickly get a refund of taxes they overpaid, particularly due to net operating losses or other specific situations. It allows for a faster process than amending a prior year's return.
Form 1045 – Application for Tentative Refund
Form 1045 is used to quickly claim a refund when you have a business loss or certain credits that can be carried back to previous tax years. It offers a faster refund than amending your original tax return.
Form 2350 – Application for Extension of Time to File U.S. Income Tax Return (noted earlier for expatriates)
Form 2350 is an IRS form specifically for U.S. citizens and residents living abroad who need extra time to file their federal income tax return. It allows qualifying taxpayers to request an automatic extension beyond the usual April deadline.
Form 7004 – Application for Automatic Extension of Time to File Certain Business Income Tax Returns
Form 7004 is an IRS form that businesses use to request an automatic extension of time to file certain income tax returns. It gives you more breathing room without penalty (but doesn't extend the payment deadline!).
Form 8844 – Empowerment Zone Employment Credit
Form 8844 is used by businesses to claim the Empowerment Zone Employment Credit, which is designed to incentivize hiring and operating within designated economically distressed areas. This credit can help reduce your tax burden if you meet certain criteria.
Form 8941 – Credit for Small Employer Health Insurance Premiums (reiterated under small business tax relief)
Form 8941 is used by eligible small employers to claim a tax credit for contributions they make towards their employees' health insurance premiums, helping to make healthcare more affordable. This credit is designed to help small businesses provide health benefits to their employees.
Form 2210 – Underpayment of Estimated Tax by Individuals, Estates, and Trusts
Form 2210 is used to determine if you owe a penalty for not paying enough taxes throughout the year through withholdings or estimated tax payments. It applies to individuals, estates, and trusts who don't meet the IRS's minimum tax payment requirements.
Form 843 – Claim for Refund and Request for Abatement (mentioned previously under relief but critical here)
Form 843 is used to request a refund of overpaid taxes or to ask the IRS to reduce or eliminate a tax penalty or interest. It's a key tool for correcting tax issues and seeking relief.