Do You Want a Tax Refund of IRS Penalties? File Form 843 Now

How To Fill Form 843 Correctly

To fill the Form 843 correctly, you requires basic information such as name, address, Social Security number, tax period, and return type. Here is the step by step guide to fill the Form 843:

Line 1

Start by entering the tax period for which you are making the claim for refund or request for abatement.

Line 3

Next, check the right box to show the type of fees or tax which you are claiming for refund. For example, if you’re claiming relates to a penalty, interest, or addition to tax, check the box to indicate the type of tax to which the request abatement or claim relates.

Line 4

Now, if you are requesting an abatement or a refund of an assessed penalty, enter the applicable Internal Revenue Code (IRC) section. Mostly, you can find the IRC section on the Notice of Assessment you received from the IRS.

Line 5

Let’s move to next line which indicate the type of fee or return. Check the second box on line 5a. On line 5b, enter the date of payment if the penalty or addition to tax has been paid.

Line 6

Check the appropriate box to show the type of fee or return, if any, to which your claim or request relates. Check the box labeled “1040” to indicate other individual income tax returns (such as Form 1040A or Form 1040EZ).

Line 7

In this line you need to indicate the reason for the request for abatement or refund following are the options you can select from:

1. Interest was assessed as a result of IRS errors or delays.
2. A penalty or addition to tax was the result of erroneous written advice from the IRS.
3. Reasonable cause or other reason allowed under the law can be shown.
4. None of the above reasons apply.

Check according to the reason you are filing Form 843.

Line 8

Finally, you need to explain why you believe this claim or request should be allowed and show how you computed the amount shown on line 2.

How Black Ink Experts Helps You Filing The Claim?

Is Form 843 the right form for your situation? Curious if you’re likely to get penalty relief or a tax refund? Want help filing the form? Although most of it is straightforward, the part where you need to explain the refund and its calculation can be challenging.

At Black Ink Accounting, we understand the complexity of the taxation rules and regulations. Our experts are here you to assist you when you seek help with claiming refunds and request for abatement.

Conclusion

In summary, Form 843 is a vital tool for taxpayers seeking to address overpayments, seek refunds, or dispute incorrect IRS penalties and interest. By understanding how to fill out the form correctly and knowing who is eligible to file it, taxpayers can effectively navigate the complexities of the tax system. If you need guidance or assistance, consider consulting a tax professional to ensure your claim is handled accurately and efficiently.

FAQs

1: What is Form 843 used for?

Form 843 is used to request a refund of assessed taxes or to ask for an abatement of penalties and interest due to IRS errors.

2: Who can file Form 843?

Individual taxpayers or their authorized representatives can file Form 843 for various tax-related reasons.

3: Can I use Form 843 to appeal an IRS decision?

Form 843 is not meant for appealing decisions. It’s specifically for requesting refunds or abatement of penalties and interest.

4: How many times can I file Form 843?

You must file a separate Form 843 for each type of tax or fee and for each tax year.

5: What information do I need to complete Form 843?

You will need your name, address, Social Security number, tax period, and details about the type of tax or fee in question.

6: Is there a deadline for filing Form 843?

Yes, generally, you should file Form 843 within three years from the date you paid the tax to claim a refund.

7: What should I do if my refund request is denied?

If your request is denied, you may want to seek advice from a tax professional to explore your options for further action or appeal.