Form 8838-P - Consent To Extend The Time To Assess Tax Pursuant To The Gain Deferral Method

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8838-P

Consent To Extend the Time To Assess Tax

OMB No. 1545-1668

Pursuant to the Gain Deferral Method (Section 721(c))

Form

(December 2017)

Attach to your income tax return.

▶

Attachment

Department of the Treasury

146

Go to for the latest information.

Sequence No.

▶

Internal Revenue Service

Name(s) of consenting taxpayer(s)

Identifying number (see instructions)

Social security number of spouse (only if a joint income tax

return was filed)

Number, street, and room or suite no. If a P.O. box, see instructions.

City or town, state or province, country, and ZIP or foreign postal code

The taxpayer(s) listed above and the Commissioner of the IRS, according to the regulations under section 721(c), agree to the

following.

1 a For gain deferral contributions, the amount of any federal income tax due on the gain realized, but not recognized, upon the contribution described on line 5,

below, on any income tax return made by or for the above taxpayer(s) for the tax year ended

month

day

year

may be assessed at any time on or before

(see instructions); and

month

day

year

The amount of any federal income tax due as a result of the allocation of book and tax items with respect to the section 721(c)

property described on line 5, below, on any income tax return made by or for the above taxpayer(s) for the tax year

ended

may be assessed at any time on or

month

day

year

before

(see instructions).

month

day

year

b For contributions not subject to the gain deferral method, the amount of any federal income tax due on the gain recognized

upon the contribution described on line 5, below, on any income tax return made by or for the above taxpayer(s) for the tax year

ended

may be assessed at any time on or

month

day

year

before

(see instructions).

month

day

year

This consent establishes an extended period for assessing tax. The expiration of the extended period may be suspended or

otherwise affected by the operation of law in the same manner as the original period. For example, if a notice of deficiency in

tax covered by this consent is issued, the period for assessing tax won’t end prior to the end of the suspension period

provided for by section 6503(a), plus any time that remains in the assessment period, as extended, at the time the suspension

takes effect. Under no circumstances will this consent reduce the period of time otherwise provided by law for making an assessment.

The consenting taxpayer(s) may file a claim for credit or refund for the tax assessed by reason of this consent within 6 months

after the period ends for assessing tax established by this consent.

The amount of any deficiency assessment covered by this consent will be limited to the amount of any federal income tax due

on the gain realized, whether or not recognized, on the contribution described on line 5 (and as applicable, the federal income

tax due as a result of the allocation of book and tax items with respect to the section 721(c) property) including any penalties,

additions to tax, and interest attributable to it and consequential changes to other items based on that adjustment.

Complete the following information (see instructions).

a Date of contribution

b Description of the section 721(c) property

c Name of section 721(c) partnership (as defined in Temporary Regulations section 1.721(c)-1T(b)(14)) and identifying number, if any

Under penalties of perjury, I declare that I have examined this consent, including accompanying statements and schedules, and to the best of my knowledge and belief, it’s

true, correct, and complete. A signed consent, properly completed in accordance with this form and its instructions, is deemed to have been executed by the Commissioner

of the IRS.

Signature of consenting taxpayer (see instructions)

Date

Signature of spouse (complete only if a joint return is filed)

Taxpayer’s representative sign here

Date

Corporate officer(s) sign here

Date

8838-P

For Paperwork Reduction Act Notice, see the instructions.

Form

(12-2017)