If the resolution or plan is amended or supplemented after Form 966 is filed file another Form 966 within 30 days after the amendment or supplement is adopted. The additional form will be sufficient if the date the earlier form was filed is entered on line 11 and a certified copy of the amendment or supplement is attached. Include all information required by Form 966 that was not given in the earlier form. Who Must File A corporation or a farmer s cooperative must file Form 966 if it adopts a...resolution or plan to dissolve the Exempt organizations and qualified subchapter S subsidiaries should not file Form 966. For purposes of determining gain or loss the Cat. No. 17053B Form 966 Rev. 10-2016 Page 2 distributed assets are valued at fair market value. Corporate Dissolution or Liquidation Please type or print Form Rev. October 2016 Department of the Treasury Internal Revenue Service Name of corporation OMB No. 1545-0123 Required under section 6043 a of the Internal Revenue Code...Information about Form 966 and its instructions is at www.irs.gov/form966. Foreign corporations that are not required to file Form 1120-F U.S. Income Tax Return of a Foreign Corporation or any other U.S. tax return are generally not required to file Form 966. Exceptions to this rule apply to a liquidation of a subsidiary and to a distribution that is made according to a plan of reorganization. Foreign Corporations 966 if required under section 6043 a. Preferred Section of the Code under which...the corporation is to be dissolved or liquidated. If this form concerns an amendment or supplement to a resolution or plan enter the date the previous Form 966 was filed. Signature of officer Date Title Instructions When To File Section references are to the Internal Revenue Code unless otherwise noted. File Form 966 within 30 days after the resolution or plan is adopted to dissolve the corporation or liquidate any of its stock. Exempt organizations should see the instructions for Form 990...Return of Organization Exempt From Income Tax or Form 990-PF Return of Private Foundation or Section 4947 a 1 Trust Treated as Private Foundation. Subchapter S subsidiaries should see Form 8869 Qualified Subchapter S Subsidiary Election. CAUTION Do not file Form 966 for a deemed liquidation such as a section 338 election or an election to be treated as a disregarded entity under Regulations section 301. Employer identification number Number street and room or suite no. If a P. O. box number see...instructions. Check type of return Date incorporated 2 Place incorporated Service Center where corporation filed its immediately preceding tax return 7c Name of common parent Complete Partial 7a Last month day and year of final tax year immediately preceding tax year 7b of common parent 1120S Other Date resolution or plan of complete or partial liquidation was adopted Type of liquidation 1120-L 1120-IC-DISC City or town state and ZIP code 7e Was corporation s final tax return filed as part of a...consolidated income tax return If Yes complete 7c 7d and 7e.
pdfFiller is not affiliated with IRS
Get, Create, Make, and Sign IRS 966
Edit your IRS 966 online
Type text, complete fillable fields, insert images, highlight or blackout data for discretion, add comments, and more.
Add your legally-binding signature
Draw or type your signature, upload a signature image, or capture it with your digital camera.
Share your form instantly
Email, fax, or share your IRS 966 via URL. You can also download, print, or export forms to your preferred cloud storage service.
Instructions and Help about IRS 966
How to edit IRS 966
How to fill out IRS 966
Instructions and Help about IRS 966
How to edit IRS 966
You can edit IRS 966 using the convenience offered by online tools like pdfFiller. Locate the IRS 966 form on the pdfFiller platform, and use the editing features to input or modify required data. Make sure to save your changes before submitting.
How to fill out IRS 966
To fill out IRS 966 correctly, first download the official form from the IRS website or access it through pdfFiller. Follow these steps:
01
Provide your corporation's name and Employer Identification Number (EIN).
02
Enter the date of your dissolution or liquidation.
03
Complete the required information about your assets and liabilities.
04
Sign and date the form before submission.
Latest updates to IRS 966
Latest updates to IRS 966
Stay informed about any changes to the IRS 966 form by regularly checking the IRS website or resources like pdfFiller. Updates may include changes in filing procedures or form revisions, ensuring compliance with tax laws.
All You Need to Know About IRS 966
What is IRS 966?
What is the purpose of this form?
Who needs the form?
When am I exempt from filling out this form?
Components of the form
Due date
What payments and purchases are reported?
How many copies of the form should I complete?
What are the penalties for not issuing the form?
What information do you need when you file the form?
Is the form accompanied by other forms?
Where do I send the form?
All You Need to Know About IRS 966
What is IRS 966?
IRS 966, titled "Corporate Dissolution or Liquidation," is a tax form used by corporations to inform the IRS of their dissolution or liquidation. This form is essential for properly reporting the end of a corporation’s operations to ensure compliance with tax obligations.
What is the purpose of this form?
The purpose of IRS 966 is to officially notify the IRS about a corporation's decision to dissolve or liquidate. Filing this form is crucial for fulfilling tax responsibilities and initiating proper accounting procedures for the corporation's closure.
Who needs the form?
Any corporation that has decided to dissolve or undergo liquidation must file IRS 966. This includes both domestic corporations and certain foreign corporations that elect to be treated as domestic for U.S. tax purposes. It is important to file the form to avoid potential penalties.
When am I exempt from filling out this form?
You may be exempt from filing IRS 966 if your corporation undergoes a merger with another corporation and no additional tax reporting is required. Businesses that cease operations without formal dissolution procedures also may not need to file the form. Always consult a tax professional for clarity on exemptions.
Components of the form
The IRS 966 form consists of several key sections, including:
01
Corporate name and EIN.
02
Date of dissolution or liquidation.
03
Details on the corporation's assets and liabilities.
04
Signature of an authorized officer.
These components ensure that all necessary information regarding the corporation's closure is properly documented.
Due date
The due date for filing IRS 966 is typically within 30 days after the corporation's dissolution or liquidation date. Filing the form timely helps prevent penalties and ensures compliance with IRS guidelines.
What payments and purchases are reported?
IRS 966 itself does not report payments or purchases; however, it signals the need for associated tax filings that might involve reporting any remaining assets or liabilities. After completion, corporations need to settle any outstanding taxes and document final distributions.
How many copies of the form should I complete?
You should complete and submit the original IRS 966 form to the IRS. It is advisable to keep a copy for your records. If other tax forms are due upon dissolution, ensure those are also appropriately submitted.
What are the penalties for not issuing the form?
Failing to issue IRS 966 when required may lead to penalties, including monetary fines and potential issues with the IRS regarding the corporation's tax status. Further, it may complicate the final settlement of the corporation's tax obligations.
What information do you need when you file the form?
When filing IRS 966, you will need the corporation's name, EIN, the date of dissolution or liquidation, details regarding assets, and liabilities. Ensure that this information is accurate and complete to avoid delays or issues with the submission.
Is the form accompanied by other forms?
IRS 966 might not need to be accompanied by other forms when filed alone. However, upon dissolution, you may need to submit other tax-related forms depending on the corporation's circumstances, such as final income tax returns. Confirm with a tax advisor for specific requirements.
Where do I send the form?
Send the completed IRS 966 form to the address specified by the IRS for corporate filings, which is typically included in the instructions on the form. The submission method may vary; consult the IRS website or a tax professional for the latest guidelines.
FAQ about IRS 966
What should I do if I realize I made a mistake on my IRS 966 after filing?
If you discover an error on your filed IRS 966, you should file an amended version as soon as possible. It's essential to accurately indicate the changes and provide a clear explanation of the adjustments. This ensures that the IRS has the correct information on record.
How can I verify that my IRS 966 has been received and processed?
To confirm the receipt and processing status of your IRS 966, you can check directly on the IRS website or via their toll-free hotline. You may need to provide your personal information for verification, as well as details about the form submission.
What are common errors when filing the IRS 966 and how can I avoid them?
Common mistakes when filing the IRS 966 include incorrect data entry, missing signatures, and not following submission guidelines carefully. To avoid these errors, double-check all information for accuracy and ensure you've adhered to all instructions provided by the IRS.
Are electronic signatures accepted for IRS 966 submissions?
Yes, electronic signatures are acceptable for IRS 966 submissions if you are filing online. Ensure that your e-filing software supports this feature, as it complies with IRS regulations regarding electronic submissions.
What should I do if I receive an IRS notice after filing my IRS 966?
If you receive an IRS notice or letter after submitting your IRS 966, carefully review the document for specific instructions. Follow the guidelines provided, gather any necessary documentation, and respond promptly to address any issues raised.
See what our users say
Read user feedback and try pdfFiller to explore all its benefits for yourself
calling to see when you input information are you able to calculate as well.
Anonymous Customer
Not interested at this time. Will follow up later.
Use this catalog to find any type of IRS forms. We've gathered all of them under this section uncategorized to help you to find a proper form faster. Once you spot it on this list, have a look at the versions and schedules you might need as attachments. All returns are available for 2016 and for previous fiscal years.
