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Form 8876 (Rev April 2003 ) - IRS - irs

Form 8876 (Rev April 2003 ) - IRS - irs-2025

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Form 8876 is used to report and pay a 40% excise tax on the factoring discount of structured settlement transactions, as mandated by section 5891 of the Internal Revenue Code. The form requires details about the structured settlement payment rights being acquired, including total amounts and any taxes paid. It outlines who must file, when to file, and provides instructions for completing the form, including penalties for late filing or payment. Additionally, it defines key terms related to structured settlements and includes privacy notices regarding information collection.

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What is the IRS Revenue Procedure 2003 51?

This revenue procedure sets forth guidelines for use by taxpayers and Internal Revenue Service personnel in making fair market value determinations for inventory items acquired when a taxpayer purchases the assets of a business for a lump sum or a corporation acquires the stock of another corporation and makes an

How do I download forms from the IRS?

Tax forms and publications Downloading from IRS Forms Publications page. Picking up copies at an IRS Taxpayer Assistance Center. Going to the IRS Small Business and Self-Employed Tax Center page. Requesting copies by phone 800-TAX-FORM (800-829-3676).

What is the difference between a revenue ruling and a revenue procedure?

It is also published in the Internal Revenue Bulletin. While a revenue ruling generally states an IRS position, a revenue procedure provides return filing or other instructions concerning an IRS position.

How do I get past tax forms from the IRS?

Online is the fastest and easiest way to get your transcript. All transcript types are also available by mail by submitting Form 4506-T, Request for Transcript of Tax Return. Additionally, Form 4506-T-EZ, Short Form Request for Individual Tax Return Transcript can be used to request just a tax return transcript.

How does the IRS determine fair market value?

ing to the IRS, its the price that property would sell for on the open market. This is the price that would be agreed upon between a willing buyer and a willing seller. Neither would be required to act, and both would have reasonable knowledge of the relevant facts.

What is IRS form 8876?

Use Form 8876 to report and pay the 40% excise tax imposed under section 5891 on the factoring discount of a structured settlement factoring transaction. File a separate Form 8876 for each date on which you received structured settlement payment rights in one or more structured settlement factoring transactions.

What is revenue procedure 2003 53?

Proc. 2003-53. Sample inter vivos charitable remainder annuity trust (CRAT) for one measuring life. This procedure contains a sample declaration of trust that meets the requirements under section 664 of the Code and 1.664-2 of the regulations for an inter vivos charitable remainder annuity trust for one measuring life.

What is the IRS revenue procedure?

A revenue procedure is an official statement of a procedure published in the Bulletin that either affects the rights or duties of taxpayers or other members of the public under the Internal Revenue Code and related statutes, treaties, and regulations or, although not necessarily affecting the rights and duties of the

Form 8876 (Rev April 2003 ) - IRS - irs-2025

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