Definition and Purpose of the 2014 Form 8879-PE
The 2014 Form 8879-PE is an IRS document formally known as the e-file Signature Authorization for Form 1065. This form is specifically intended for partnerships structured as general partners or limited liability company (LLC) member managers. Its primary function is to authorize the electronic filing of the partnership’s income tax return. By signing this form, individuals can provide the necessary electronic signature, which allows the partnership's return to be submitted to the IRS using a personal identification number (PIN).
- Use Case: This form serves as a digital replacement for a traditional signature, streamlining the process for partnerships to comply with IRS requirements while ensuring efficient filing.
- Retention Requirement: It is crucial for the electronic return originator (ERO) to retain the signed Form 8879-PE and not submit it to the IRS unless specifically requested. This ensures that the ERO maintains a record of authorization in compliance with IRS regulations.
Partnerships often utilize the 2014 Form 8879-PE to facilitate quicker processing of their tax returns while adhering to electronic filing mandates.
How to Use the 2014 Form 8879-PE
Using the 2014 Form 8879-PE involves several structured steps that ensure compliance with the IRS e-filing requirements. The user must complete the form accurately and securely.
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Gather Required Information: Before filling out the form, ensure that all information regarding the partnership, such as the partnership name, address, Employer Identification Number (EIN), and the preparer's information, is readily available.
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Complete the Form: The individual responsible for signing must fill out the required sections, which typically include:
- Identification Section: Partnership details, including name and EIN.
- Signature Authorization: The selected PIN for filing.
- Responsibilities Declaration: Confirm understanding of the roles and responsibilities associated with the form signing.
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Review and Sign: Once completed, the designated partners or managers should review all entered details for accuracy before signing. The authorization can be given digitally through a secured method.
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Retain a Copy: After the form is signed, the ERO needs to keep a copy for record-keeping purposes while preparing for any potential inquiries from the IRS.
Following these steps ensures that the partnership complies with federal regulations while efficiently handling tax obligations.
Important Elements of the 2014 Form 8879-PE
Understanding the critical components of the 2014 Form 8879-PE is essential for compliance and successful filing. The form encompasses several key sections that facilitate a structured approach to electronic filing.
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Return Information: This section provides details about the partnership's income tax return, including totals and any relevant specific entries from Form 1065.
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Declaration: Signers must declare that the information provided is accurate, affirming their understanding of their responsibilities.
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Signature Authorization: A unique PIN that acts as the electronic signature, allowing the IRS to authenticate and process the e-filed return swiftly.
This structured design not only aids in accurate completion but also enhances clarity and user understanding, pivotal in legal scenarios.
Filing Deadlines for the 2014 Form 8879-PE
Timely submission of the 2014 Form 8879-PE is crucial to avoid penalties and compliance issues. Here are the essential deadlines associated with this form:
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Annual Tax Filing: The deadline for filing the partnership's Form 1065 typically falls on March 15. Therefore, Form 8879-PE should be completed and signed prior to this date.
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Extension Requests: If additional time is needed, partnerships can file Form 7004 to request a six-month extension, which will extend the filing deadline to September 15. However, Form 8879-PE must still be signed and retained in accordance with the original deadline.
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Amendments: In the event of needing to amend a partnership return, Form 8879-PE must be re-issued and signed again by the partners, following similar deadlines and requirements for the amended submission.
Understanding these deadlines helps partnerships remain compliant and ensures timely handling of their tax obligations.
Who Typically Uses the 2014 Form 8879-PE?
The 2014 Form 8879-PE is mainly utilized by specific business structures involving partnerships and their authorized representatives. The typical users include:
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General Partners: Individuals who hold a general partnership role, actively managing the partnership's business and operations, often handling tax filings.
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LLC Member Managers: Those designated within an LLC structure who are responsible for the partnership’s tax returns, ensuring compliance with IRS regulations.
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Electronic Return Originators (EROs): Tax professionals or firms that prepare and file tax returns on behalf of partnerships. They must have accurate authorization from the partnership’s authorized signers to submit the e-filed Form 1065.
This form streamlines the filing process for these users while ensuring that all parties are legally compliant with the IRS e-filing guidelines.
