Form 8831 - Excise Taxes On Excess Inclusions Of Remic Residual Interests Page 4

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Form 8831 (Rev. 12-2013)
You can apply for a PTIN online or by
rate under section 1274(d)(1) that would
determine the amount of taxes you owe
filing Form W-12, IRS Paid Preparer Tax
apply to a debt instrument issued on the
as imposed by section 860E. Section
Identification Number (PTIN) Application
date the disqualified organization
6011 requires you to provide the
and Renewal. For more information
acquired the residual interest and with a
requested information if the tax is
about applying for a PTIN online, visit the
term that ends on the last day of the last
applicable to you. Section 6109 requires
IRS website at
quarter in which excess inclusions are
you to provide your identification
expected to accrue for the interest.
number. Routine uses of this information
Interest and Penalties
include giving it to the Department of
The REMIC must furnish the
Justice for civil and criminal litigation and
Interest. Interest is charged on taxes
information needed to figure the amount
to cities, states, and the District of
not paid by the due date. Interest is also
on line 4 upon your request. The
Columbia, and U.S. commonwealths and
charged on certain penalties. The
information must be furnished within 60
possessions for use in administering
interest charged is figured at a rate
days of the request. The REMIC may
their tax laws. We may also disclose this
determined under section 6621.
charge a fee for this information.
information to other countries under a
Late filing penalty. Generally, a penalty
Line 6. Enter the amounts reported on
tax treaty, to federal and state agencies
of 5% a month or part of a month, up to
Schedule Q (Form 1066), Quarterly
to enforce federal nontax criminal laws,
a maximum of 25%, is imposed on the
Notice to Residual Interest Holder of
or to federal law enforcement and
net amount of tax due if the excise tax
REMIC Taxable Income or Net Loss
intelligence agencies to combat
return is not filed when due.
Allocation, line 2c, to the disqualified
terrorism. If you fail to provide this
organization for the period it held the
information in a timely manner, you may
Late payment penalty. Generally, the
residual interest.
be subject to penalties.
penalty for not paying tax when due is
of 1% of the unpaid tax, up to a
Part II
You are not required to provide the
maximum of 25%, for each month or
information requested on a form that is
Line 9. Enter the amounts reported on
part of a month the tax remains unpaid.
subject to the Paperwork Reduction Act
Schedule Q (Form 1066), line 2c, for the
unless the form displays a valid OMB
Specific Instructions
tax year of the pass-through entity that
control number. Books or records
are allocable to all disqualified
relating to a form or its instructions must
Name and Address
organizations that held an interest in the
be retained as long as their contents
may become material in the
Enter the name shown on your most
administration of any internal revenue
Line 10. In general, deduct the amount
recently filed federal income tax return.
law. Generally, tax returns and return
on line 10 to figure the ordinary income
Include the suite, room, apartment, or
information are confidential, as required
of the pass-through entity. For example,
other unit number after the street
by section 6103.
a real estate investment trust deducts
address. If the Post Office does not
the tax to figure its real estate
The time needed to complete and file
deliver mail to the street address and
investment trust taxable income under
this form will vary depending on
you have a P.O. box, show the box
section 857(b)(2). However, an electing
individual circumstances. The estimated
number instead of the street address.
large partnership excludes the amount
average time is: Recordkeeping, 4 hr.,
Identifying Number
subject to tax (line 9) instead of
32 min.; Learning about the law or the
deducting the tax (line 10) from its
form, 1 hr., 29 min.; Preparing,
If you are an individual, enter your social
copying, assembling, and sending the
security number. Other filers, enter your
form to the IRS, 1 hr., 37 min.
Part III
employer identification number.
If you have comments concerning the
Part I
Line 12. If you filed Form 7004, enter
accuracy of these time estimates or
the amount paid, if any, when you filed
suggestions for making this form
Line 4. The excess inclusions expected
that form.
simpler, we would be happy to hear
to accrue must be determined as of the
from you. You can send comments to:
Line 13. You must pay the full amount
date the residual interest is transferred
reported on line 13. You may make your
and must be based on events that have
Internal Revenue Service
payment using the Electronic Federal
occurred up to the time of the transfer,
Tax Forms and Publications Division
Tax Payment System (EFTPS). To do so
the prepayment and reinvestment
1111 Constitution Ave. NW, IR-6526
you must be enrolled in EFTPS. To enroll
assumptions adopted under section
Washington, DC 20224
in or get more information about EFTPS,
1272(a)(6) (or that would have been
Do not send the tax form to this
adopted if the REMIC’s regular interests
address. Instead, see Where To File,
had been issued with original issue
You may also send us a check or
earlier. We respond to many letters by
discount), and any required or permitted
money order. If so, make your check or
telephone. Therefore, it would be helpful
clean-up calls, or required qualified
money order payable to “United States
if you would include your daytime phone
liquidation provided under the REMIC’s
Treasury.” Write your name, address,
number, including the area code, in your
organizational documents.
identifying number, and “Form 8831” on
correspondence. Although we cannot
the check or money order.
The present value of the excess
respond individually to each comment
inclusions expected to accrue is
received, we do appreciate your
Line 14. The IRS will refund the amount
determined by discounting all remaining
feedback and will consider your
on line 14 if you owe no other taxes.
excess inclusions expected to accrue on
comments as we revise our tax
Privacy Act and Paperwork Reduction
the residual interest from the end of
Act Notice. We ask for the information
each calendar quarter in which those
on this form to carry out the internal
inclusions are expected to accrue to the
revenue laws of the United States. We
date the disqualified organization
need it to figure and collect the right
acquired the residual interest. The
amount of tax. This form is used to
discount rate to be used in this
computation is the applicable federal


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