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How to use or fill out Form 8892 (Rev 12-2008) Application for Automatic Extension of Time To File Form 709 and/or Payment with our platform
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In Part I, provide your identification details: enter your first name, last name, social security number, and address. Ensure all information is typed or printed clearly.
Move to Part II to request an automatic extension. Check the designated box if you are applying for a 6-month extension to file Form 709 without extending your individual income tax return.
If applicable, complete Part III for payment of gift tax. Fill in the calendar year for which you are making a payment and the amounts due for gift and GST taxes.
Review all entries for accuracy before saving or printing the completed form. Keep a copy for your records.
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Fill out Form 8892 (Rev 12-2008) Application for Automatic Extension of Time To File Form 709 andor Payment o online It's free
The IRS will start accepting Form 709 - Gift Tax Return in June of 2025. This will be available to electronically file in our system beginning in Tax Year 2025. Any returns that need filed for Tax year 2024, will need to be paper filed.
Is there an extension for Form 709?
More In Forms and Instructions Use Form 8892 to: To request an automatic 6-month extension of time to file Form 709, when you are not applying for an extension of time to file your individual income tax return using Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return.
What is the application for automatic extension of time to file?
Use Form 4868 to apply for 6 more months (4 if out of the country (defined later under Taxpayers who are out of the country) and a U.S. citizen or resident) to file Form 1040, 1040-SR, 1040-NR, or 1040-SS. Gift and generation-skipping transfer (GST) tax return (Form 709 or 709-NA).
How long do you have to file Form 709?
Generally, you must file the Form 709 no earlier than January 1, but not later than April 15, of the year after the gift was made. If April 15 falls on a Saturday, Sunday, or legal holiday, Form 709 is due on the next business day.
What happens if you dont file Form 709?
But if you dont file your gift tax return on time, you could be penalized up to 100% of the tax amount. The IRS requires that you file Form 709, which is the tool the IRS uses to track lifetime gifting.
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How long does the IRS have to challenge a gift tax return?
When you disclose the value of your gift on a gift tax return, Form 709 , it triggers a three-year statute of limitations. This means the IRS has three years to audit your gift, after which they typically can no longer challenge the reported value of the gifts, unless there is substantial omission or fraud.
How to avoid filing form 709?
Typically, a Form 709 will not need to be filed to record gifts to a spouse. Gifts to a spouse are not subject to federal gift tax provided that the spouse is a U.S. citizen. Between U.S. citizen spouses, gifts of both present and future interests qualify for the unlimited marital deduction.
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