Form 720-TO – Terminal Operator Report
Form 720-TO, also known as the Terminal Operator Report, is an IRS form used by terminal operators to report the removal of taxable fuel from a terminal. This form is a key component of federal excise tax compliance.
Form 720-CS – Carrier Summary Report (previously listed under excise tax)
Form 720-CS, the Carrier Summary Report, is an IRS form used to report certain fuel excise tax liabilities by carriers, especially those involved in air or sea transportation. It's crucial for those dealing with taxable fuel to understand this form to remain compliant.
Form 8928 – Return of Excise Taxes Under Chapter 43 of the Internal Revenue Code
Form 8928 is used to report and pay excise taxes related to certain retirement plans and tax-exempt organizations. It's crucial for ensuring compliance with IRS rules regarding these entities.
Form 1099-CAP – Changes in Corporate Control and Capital Structure
Form 1099-CAP reports significant changes in corporate ownership or structure. Understanding it is crucial for shareholders when these changes occur.
Form 1120-SF – Settlement Funds Return
Form 1120-SF is a tax return used by settlement funds to report their income and deductions to the IRS. It's essential for these funds to understand their obligations under tax law.
Form 2553 – Election by a Small Business Corporation
Form 2553 is the IRS document that a small business uses to elect to be taxed as an S corporation. This election can have significant tax implications for business owners.
Form 8838-P – Notice of Consent to Extend the Time for Assessment of Taxes Related to a Partnership or S Corporation
Form 8838-P is an IRS document used to extend the period the IRS has to assess taxes related to a partnership or S corporation. It’s basically a time extension agreement between the IRS and the business owners.
Form 8834 – Qualified Electric Vehicle Credit
Form 8834 is how you claim the tax credit for buying a new qualified electric vehicle. This credit can significantly lower your tax bill, so it's worth understanding.
Form 8912 – Energy Efficient Building Deduction Reporting
Form 8912 is used to report the energy-efficient commercial building deduction. This form helps those who make energy-saving improvements to their commercial property get a tax break.
Form 706-GS(D) – Generation-Skipping Transfer Tax Return for Distributions
Form 706-GS(D) is used to report and pay generation-skipping transfer (GST) tax on certain distributions. It helps ensure that wealth isn't passed down through generations without being taxed.