Instructions For Signing Form 870-P printable pdf download

INSTRUCTIONS FOR SIGNING FORM 870-P

1. Sign the agreement if you wish to agree to the partnership items as shown on the attached Schedule

of Adjustments. The execution and filing of this offer will expedite the adjustment of tax liability.

2. If a JOINT RETURN OF A HUSBAND AND WIFE was filed and both spouses intend to agree, both

spouses should sign Form 870-P. One spouse may sign as agent for the other if acting under a

power of attorney, which, if not previously filed, must accompany this form. The IRS may accept the

signature of only one spouse at its discretion. However, the agreement will only be binding on the

signing spouse.

3. If the taxpayer is a corporation, the agreement must be signed with the corporate name followed by

the signature and title of the officer authorized to sign Form 870-P.

4. Your attorney or agent may sign for you if this action is specifically authorized by a power of

attorney, which if not previously filed, must accompany this form.

5. If this offer is signed by a trust, the agreement must be signed with the trust name, followed by the

signature and title of the person authorized to sign on behalf of the trust.

6. For a partner who is a member of a consolidated group, the agreement should be signed by a

currently authorized officer of the corporation who was the common parent corporation of the

consolidated group for the relevant consolidated return year(s). The common parent corporation

signs the agreement in its own name. The signature and title of a current officer of the common

parent corporation, who is authorized to bind the common parent corporation, should be displayed

in the signature block. See Treas. Reg. § 1.1502-77A(a).

7. If the Tax Matters Partner signs this offer, please include the title with the signature.

8. For a Tax Matters Partner who is a subsidiary corporation in a consolidated group, a currently

authorized officer of the corporation who was the common parent corporation of the consolidated

group for such consolidated return year should sign the agreement on behalf of the Tax Matters

Partner. The signature and title of a current officer of the common parent corporation, who is

authorized to bind the common parent corporation, should be displayed in the signature block.

See Treas. Reg. § 1.1502-77A(a). An authorized officer for the subsidiary corporation should also

sign if it, as the Tax Matters Partner, is binding non-notice partners under the agreement.

NOTE: The submission of this offer by you and the acceptance of the offer for the Commissioner may

result in an additional tax liability to you plus interest as provided by law. If the result is a decrease in

tax, the amount of the decrease will be sent to you with interest as provided by law.

870-P

Catalog Number 61175O

Form

(Rev. 6-2006)

Instructions For Signing Form 870-P