2011 Form 3834 -- Interest Computation Under the Look-Back: Fill out & sign online

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What is Form 3834?

Use form FTB 3834, Interest Computation Under the Look-Back Method for Completed Long-Term Contracts, to compute the interest due, or to be refunded using the look-back method under IRC Section 460(b)(2), on certain long-term contracts entered into after February 28, 1986, that are accounted for under either the

What is the lookback calculation form?

The IRS uses Form 8697 to figure the interest due or to be refunded under the look-back method of section 460(b)(2) on certain long-term contracts that are accounted for under either the percentage of completion method or the percentage of completion-capitalized cost method.

What is Form 8697?

Forms 8697 show an amount on the line for interest you owe, file an amended income tax return.

What is Form 8866?

Forms 8866 show interest you owe, file an amended income tax return following the filing instructions, earlier, and the amended return instructions for your tax return.

What is the look-back method for the IRS?

Under this look-back method, taxpayers are required to pay interest for any deferral of tax liability resulting from the underestimation of the total contract price or the overestimation of total contract costs.

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