SIMPLE. FAST. ACCURATE
Support Center > Knowledge base> Article: Form 8275 - Disclosure Statement

Form 8275 - Disclosure Statement

Article ID: 58975 Print
Question
Form 8275 - Disclosure Statement

Answer

Form 8275 is used by taxpayers and tax return preparers to disclose items or positions, except those taken contrary to a regulation, that are not otherwise adequately disclosed on a tax return to avoid certain penalties. The form is filed to avoid the portions of the accuracy-related penalty due to disregard of rules or to a substantial understatement of income tax for non-tax shelter items if the return position has a reasonable basis. It can also be used for disclosures relating to the economic substance penalty and the preparer penalties for tax understatements due to unreasonable positions or disregard of rules.

 

Who Should File

Form 8275 is filed by individuals, corporations, pass-through entities, and tax return preparers. If you are disclosing a position taken contrary to a regulation, use Form 8275-R, Regulation Disclosure Statement, instead of Form 8275.


related articles

Article Details
Views: 1895 Created on: Jun 15, 2013
Date updated: Dec 05, 2019
Posted in: Miscellaneous

Poor Outstanding