2022 Form 8404. Interest Charge on DISC-Related Deferred Tax Liability-2025

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Form 8404 is used by shareholders of Interest Charge Domestic International Sales Corporations (IC-DISCs) to calculate and report the interest owed on DISC-related deferred tax liabilities. The form must be filed separately from the income tax return, and it includes instructions for determining taxable income, deferred DISC income, and necessary adjustments. It outlines filing deadlines, payment procedures for the interest charge, and specific computation rules. Additionally, it provides guidance on how to amend the form if there are changes in the deferred tax liability.

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Click 'Get Form' to open it in the editor.
Select the applicable box under Item A to indicate your taxpayer type: Corporation, Individual, Trust, or Decedent’s estate.
Enter the shareholder’s identifying number in Item B. Individuals should use their Social Security Number, while other filers must provide their Employer Identification Number.
In Item C, input the IC-DISC’s identifying number from Schedule K (Form 1120-IC-DISC). If multiple IC-DISCs are involved, list each one accordingly.
Fill out Item D with the tax year for which the interest charge is calculated.
Complete lines 1 through 9 as per the instructions provided on the form. Ensure you calculate your taxable income accurately and include any necessary adjustments.
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See more 2022 Form 8404. Interest Charge on DISC-Related Deferred Tax Liability versions

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Versions	Form popularity	Fillable & printable
2023	4.4 Satisfied (48 Votes)
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2021	4.8 Satisfied (80 Votes)
2020	4.4 Satisfied (36 Votes)
2019	4.4 Satisfied (113 Votes)
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2012	4 Satisfied (39 Votes)
2010	4.4 Satisfied (37 Votes)

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What tax form is used for CD interest?

When youve earned at least $10 in CD interest for the year, banks are required by law to report this information to the IRS and will provide you with Form 1099-INT by January 31 for your tax records. If you have multiple CD accounts, you will receive a copy of the form for each account.

What is an example of an interest bearing liability?

The four examples of interest-bearing liabilities that are commonly found in balance sheet are contract payable, bonds payable, notes payable and mortgage payable. The common characteristics they share are: Each of this liability is generally high in amount and few of them affect adversely.

Is deferred tax liability an interest bearing liability?

This should theoretically not affect the perception of users, as there is no change in current or future cash flows - deferred tax is a non-interest bearing liability - but in practice those who glance rather than study may docHub the wrong conclusion.

What is the IRS form 8404?

Purpose of form. Shareholders of Interest Charge Domestic International Sales Corporations (IC-DISCs) use Form 8404 to figure and report their interest owed on DISC-related deferred tax liability.

What should deferred tax liabilities be classified as?

45-4 In a classified statement of financial position, an entity shall classify deferred tax liabilities and assets as noncurrent amounts.

8404 2022

Form 8404 instructions Form 8404 extension 2023 Form 8404 Form 8404 2024 Form 8804 form 4876-a 1120 IC DISC Instructions base period t-bill rate factor

Is deferred tax interest bearing?

Deferred income taxes. Other non-interest-bearing liabilities, which are typically not broken down in the Notes to the Financial Statements.

What kind of liability is deferred tax?

IAS 12 defines a deferred tax liability as being the amount of income tax payable in future periods in respect of taxable temporary differences. So, in simple terms, deferred tax is tax that is payable in the future.

What is the interest charge disc?

The Interest Charge Domestic International Sales Corporation (IC-DISC) offers docHub Federal income tax savings for making or distributing US products for export. The IC-DISC was originally created by Congress to promote export sales by allowing companies to defer income, with interest charged on the deferred tax.