Fillable Form 8932 - Credit For Employer Differential Wage Payments (Page 2 of 2) in pdf

Form 8932 (Rev. 12-2017)

Page

Disallowance for Failure To Comply With

If the cooperative is subject to the passive activity

rules, include on line 3 any Form 8932 credit from passive

Employment or Reemployment Rights of

activities disallowed for prior years and carried forward to

Members of the Reserve Components of the

this year. Complete Form 8810, Corporate Passive

Armed Forces of the United States

Activity Loss and Credit Limitations, to determine the

allowed credit that must be allocated to patrons. For

No credit will be allowed to a taxpayer for:

details, see the Instructions for Form 8810.

• Any tax year in which the taxpayer is under a final order,

Estates and trusts. Allocate the credit for employer

judgment, or other process issued or required by a

differential wage payments on line 4 between the estate

district court of the United States under section 4323 of

or trust and the beneficiaries in the same proportion as

title 38 of the United States Code with respect to a

income was allocated and enter the beneficiaries' share

violation of chapter 43 of title 38; and

on line 5.

• The 2 succeeding tax years.

If the estate or trust is subject to the passive activity

rules, include on line 3 any Form 8932 credit from passive

Specific Instructions

activities disallowed for prior years and carried forward to

this year. Complete Form 8582-CR, Passive Activity

Line 1

Credit Limitations, to determine the allowed credit that

Enter the total amount of eligible differential wage

must be allocated between the estate or trust and the

payments made to qualified employees during the tax

beneficiaries. For details, see the Instructions for Form

year. Do not include more than $20,000 of payments for

8582-CR.

any employee.

Line 2

Paperwork Reduction Act Notice. We ask for the

information on this form to carry out the Internal Revenue

Generally, you must reduce your deduction for salaries

laws of the United States. You are required to give us the

and wages by the amount on line 2, even if you cannot

information. We need it to ensure that you are complying

take the full credit this year because of the tax liability

with these laws and to allow us to figure and collect the

limit. If you capitalized any costs on which you figured the

right amount of tax.

credit, reduce the amount capitalized by the credit

attributable to these costs.

You are not required to provide the information

requested on a form that is subject to the Paperwork

Line 3

Reduction Act unless the form displays a valid OMB

Enter total credits for employer differential wage

control number. Books or records relating to a form or its

payments from:

instructions must be retained as long as their contents

may become material in the administration of any Internal

• Schedule K-1 (Form 1065), Partner's Share of Income,

Revenue law. Generally, tax returns and return

Deductions, Credits, etc., box 15 (code P);

information are confidential, as required by section 6103.

• Schedule K-1 (Form 1120S), Shareholder's Share of

The time needed to complete and file this form will vary

Income, Deductions, Credits, etc., box 13 (code P);

depending on individual circumstances. The estimated

• Schedule K-1 (Form 1041), Beneficiary's Share of

burden for individual and business taxpayers filing this

Income, Deductions, Credits, etc., box 13 (code Q); or

form is approved under OMB control number 1545-0074

• Form 1099-PATR, Taxable Distributions Received From

and 1545-0123 and is included in the estimates shown in

Cooperatives, box 10, or other notice of credit allocation.

the instructions for their individual and business income

tax return. The estimated burden for all other taxpayers

Partnerships, S corporations, cooperatives, estates,

who file this form is shown below.

and trusts report the above credits on line 3. All other

filers figuring a separate credit on earlier lines also report

Recordkeeping . . . . . . . . . . 1 hr., 54 min.

the above credits on line 3. All others not using earlier

Learning about the

lines to figure a separate credit can report the above

law or the form . . . . . . . . . . . .

30 min.

credits directly on Form 3800, Part III, line 1w.

Preparing and sending the form

Line 5

to the IRS . . . . . . . . . . . . . .

33 min.

Cooperatives. A cooperative described in section

If you have comments concerning the accuracy of

1381(a) must allocate to its patrons the credit in excess

these time estimates or suggestions for making this form

of its tax liability limit. Therefore, to figure the unused

simpler, we would be happy to hear from you. See the

amount of the credit allocated to patrons, the

instructions for the tax return with which this form is filed.

cooperative must first figure its tax liability. While any

excess is allocated to patrons, any credit recapture

applies as if the cooperative had claimed the credit.

Form 8932 - Credit For Employer Differential Wage Payments Page 2

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