Form 8404 - Interest Charge On Disc-Related Deferred Tax Liability
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18404
Interest Charge on DISC-Related
OMB No. 1545-0939
Deferred Tax Liability
Form
2015
File Form 8404 separately from your income tax return. See Where to file below.
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Department of the Treasury
Information about Form 8404 and its instructions is at
Internal Revenue Service
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Name of shareholder
A Check applicable box to
B Shareholder’s identifying
show type of taxpayer:
number
Address (number, street, room, suite, or P.O. box number)
Corporation
Individual
C IC-DISC’s identifying
number
City or town, state or province, country, and ZIP or foreign postal code
Trust or
Decedent’s estate
D Shareholder’s tax year for which interest charge is required to be paid (see instructions) E Name of IC-DISC
Note: See line-by-line instructions.
1
Taxable income or loss on tax return (actual or estimated) .
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Deferred DISC income from line 10, Part III, Schedule K (Form 1120-IC-DISC) .
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Section 995(f)(2) adjustments to line 1 income or loss
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4
Combine lines 1, 2, and 3. If zero or less, do not file this form
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4
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Tax liability on line 4 amount
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Tax liability per return (actual or estimated) .
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DISC-related deferred tax liability. Subtract line 6 from line 5 .
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Base period T-bill rate factor
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9
Interest charge due. Multiply line 7 by line 8. (See Paying the interest charge below.)
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9
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge
and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
Sign
Here
Signature and Title (if any)
Date
Print/Type preparer’s name
Preparer’s signature
Date
PTIN
Paid
Check
if
self-employed
Preparer
Use Only
Firm’s name
Firm’s EIN
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Firm’s address
Phone no.
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Future Developments
Where to file. File Form 8404 at the following
on the tax year of deductibility. For other
address.
filers, this interest is not deductible.
For the latest information about developments
Department of the Treasury
Amended Form 8404. You are required to file
related to Form 8404 and its instructions,
Internal Revenue Service
an amended Form 8404 only if the amount of
such as legislation enacted after they were
Cincinnati, OH 45999
the DISC-related deferred tax liability (line 7)
published, go to
changes as a result of audit adjustments,
Paying the interest charge. You must pay
General Instructions
changes you make by the filing of an
the interest charge shown on line 9 by the
amended return, or if estimates were used on
date your federal income tax for the tax year
Section references are to the Internal Revenue
your original Form 8404 and changes were
is required to be paid. For individuals, the
Code unless otherwise noted.
made to these estimates when you filed your
interest is due on the 15th day of the 4th
tax return. See Proposed Regulations section
Purpose of form. Shareholders of Interest
month following the close of the tax year. For
1.995(f)-1(j)(4) for details.
Charge Domestic International Sales
corporations, the interest is due on the 15th
Corporations (IC-DISCs) use Form 8404 to
day of the 3rd month following the close of
Specific Instructions
figure and report their interest owed on
the tax year.
DISC-related deferred tax liability.
Attach a check or money order made
Name and address. Enter the name and
Who must file. You must file Form 8404 if (a)
payable to “United States Treasury” for the
address as shown on your tax return from
you are a shareholder of an IC-DISC, (b) the
full amount of the interest charge. Do not
which the income or loss on line 1 of Form
IC-DISC reports deferred DISC income to you
combine the interest charge with any other
8404 is obtained. If the return is a joint return,
on line 10, Part III of Schedule K (Form
tax or interest due. Write your identification
also enter your spouse’s name as shown on
1120-IC-DISC), and (c) the addition of this
number and “Form 8404—Interest Due” on
Form 1040.
income would result in increased taxable
your payment.
Item A—Type of taxpayer. Check the
income if it were included on your tax return
If the interest charge is not paid by the due
applicable box to indicate your status as a
for the tax year.
date, interest, compounded daily, at the rate
taxpayer.
When to file. File Form 8404 by the due date
specified under section 6621, will be imposed
Partnerships and S corporations distribute
of your federal income tax return (excluding
on the amount of unpaid interest from the due
their share of deferred DISC income to
extensions) for your tax year that ends with or
date until the date the interest is paid.
partners and shareholders, and the partners
includes the IC-DISC’s tax year end.
Payment of estimated tax is not required for
and shareholders complete Form 8404.
For example, you are a fiscal year
the interest charge. See Proposed
Item B—Shareholder’s identifying number.
corporation with a July 1, 2015, to June 30,
Regulations section 1.995(f)-1(j)(3) for other
Individuals must enter their social security
2016, tax year and you are a shareholder in an
details.
number. Other filers must enter their employer
IC-DISC with a July 1, 2015, to June 30, 2016,
For corporations (other than
identification number.
tax year that reports deferred DISC income to
S corporations), the annual interest charge is
Item C—IC-DISC’s identifying number.
you for its tax year ending June 30, 2016.
deductible as an interest expense for the tax
Enter the identifying number of the IC-DISC
Because your tax year ends with the
year it is paid or accrued. See Proposed
from the Schedule K (Form 1120-IC-DISC) on
IC-DISC’s tax year, you are required to file
Regulations section 1.995(f)-1(j)(2) for details
which the deferred DISC income was reported
Form 8404 on or before September 15, 2016
to you. If income is reported to you from more
(2
/
months after your tax year ends).
1
2
8404
For Privacy Act and Paperwork Reduction Act Notice, see page 2.
Form
(2015)
Cat. No. 62423Z
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