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IRS Form 8839 – Qualified Adoption Expenses – Adopting a child is a joyful milestone, but the costs—averaging $30,000–$50,000 for domestic adoptions and up to $60,000 for international—can strain finances. Enter the Adoption Tax Credit, a powerful federal incentive that offsets qualified expenses dollar-for-dollar. For tax year 2025 (filed in 2026), the maximum credit rises to $17,280 per eligible child, with up to $5,000 refundable under recent expansions from the One Big Beautiful Bill Act (OBBBA). This makes it more accessible for lower-income families.

IRS Form 8839, “Qualified Adoption Expenses,” is the essential tool to calculate and claim this credit, plus exclude employer-provided benefits from income. Whether pursuing domestic, foster, or international adoption, this nonrefundable (mostly) credit—phased out above $259,190 MAGI—can deliver significant relief. In this SEO-optimized guide, learn eligibility, limits, step-by-step filing, and tips to maximize your refund. Always consult IRS.gov/Form8839 for the latest.

 

What Is IRS Form 8839?

Form 8839 helps taxpayers compute the Adoption Credit (claimed on Schedule 3, Form 1040, line 6c) and exclude up to $17,280 in employer-sponsored adoption assistance from gross income (Form 1040, line 1). It’s for adoptions of eligible children under age 18 (or incapable of self-care) finalized in 2025, or expenses paid in prior years for ongoing efforts.

Key features for 2025:

• Credit Type: Partially refundable (up to $5,000; remainder nonrefundable, carries forward 5 years).
• Maximum Benefit: $17,280 per child (inflation-adjusted; up from $16,810 in 2024).
• Employer Exclusion: Up to $17,280 tax-free; subtract from credit-eligible expenses.

File with your 2025 return by April 15, 2026 (or October 15 extended). Even unsuccessful adoptions qualify if expenses were for a specific child.

Who Qualifies for the Adoption Tax Credit in 2025?

Eligibility hinges on the child, expenses, and your income. Married couples must file jointly; single filers and heads of household qualify.

Eligible Child Criteria

• Under 18 at adoption finalization.
• U.S. citizen/resident or foreign resident (Hague Convention rules apply for international).
• Special Needs: State-determined (e.g., foster subsidies); full $17,280 credit even without expenses.

Qualified Expenses Table (2025)

Expense Type	Eligible?	Examples/Notes
Adoption Fees	Yes	Agency fees, matching services.
Court/Attorney Costs	Yes	Legal representation, filings.
Travel/Lodging	Yes	Required trips (e.g., international pickup).
Medical (Pre-Adoption)	Yes	Exams, immunizations.
Post-Adoption Fees	No	Only if for finalization.
Surrogacy/Gamete	No	Not adoption-related.
Tuition/School	No	Ongoing education.

Expenses must be “reasonable and necessary” for legal adoption; reimbursements (e.g., employer) reduce credit base.

Income Phaseout Table (Tax Year 2025)

MAGI Range	Credit Available
$0 – $259,190	Full ($17,280)
$259,191 – $299,190	Partial (phased out)
Over $299,190	None

*MAGI: Adjusted gross income + exclusions/add-backs (e.g., foreign income). Special needs: Full credit regardless of income/expenses.

When Is Form 8839 Due in 2026?

Attach to your 2025 Form 1040 by April 15, 2026. Extensions (Form 4868) push to October 15, 2026, but pay any owed tax by April to avoid penalties. Claim expenses in the year paid (up to finalization year); carryforwards from 2020 expire after 2025.

IRS Form 8839 Download and Printable

Download and Print: IRS Form 8839

Key 2025–2026 Adoption Tax Deadlines Table

Action	Deadline
Expenses Paid (Claim Year)	2025 (filed 2026)
Form 8839 Filing	April 15, 2026
Extension Request	April 15, 2026
Amended Return (Prior Years)	3 years from original

How to Complete IRS Form 8839: Step-by-Step (2025 Form)

Use the 2025 draft form; report per child (up to 3 lines in Part I). Gather receipts, finalization decrees, and Form W-2 (employer benefits in box 12, code T). Complete Part III (exclusions) before Part II (credit).

Part I: Information on Child

• Line 1: Child’s name, SSN/ATIN/ITIN, relationship, months eligible, special needs (yes/no), finalization year, U.S./foreign child.
• Columns (a)–(h): Track per child; enter prior-year credits on line 3.

Part II: Adoption Credit

1. Line 2: $17,280 max per child (prorate if shared adoption).
2. Line 3: Prior credits claimed (from last Form 8839).
3. Line 4: Line 2 minus line 3.
4. Line 5: Qualified expenses (total paid; subtract employer reimbursements from Part III).
5. Line 6: Smaller of line 4 or 5.
6. Lines 7–10: Total eligible credit before phaseout.
7. Line 11–16: MAGI phaseout (use worksheet; subtract $40,000 range over threshold).
8. Line 17: Tentative credit (line 10 minus phaseout).
9. Line 18–28: Carryforward worksheet (5-year limit; apply to tax liability on Form 1040).

Part III: Employer-Provided Adoption Benefits

• Line 19–28: Report benefits received (W-2 code T); exclude up to $17,280 (phased out same as credit); taxable excess on Form 1040, line 8.

Pro Tip: For foreign adoptions, finality is Hague decree or U.S. re-adoption year. Use ATIN (Form W-7A) if no SSN yet; paper-file if needed.

E-Filing Form 8839

E-file with your 1040 via IRS Free File, TurboTax, or H&R Block—mandatory for most (10+ forms). Software auto-calculates phaseouts; attach PDFs of decrees/receipts if audited.

Recent Changes to Form 8839 for 2025 Filings

• Credit Increase: $17,280 max (from $16,810); $5,000 refundable (new under OBBBA).
• Phaseout Adjustment: Starts at $259,190 MAGI (up from $252,150).
• Refundability: First $5,000 cash back even if no tax owed (indexed post-2025).
• No Major Form Tweaks: Aligns with Rev. Proc. 2024-40; special needs full credit intact.

Penalties for Errors on Form 8839

• Late Filing: 5% monthly on unpaid tax (max 25%).
• Inaccurate Claims: 20% accuracy penalty; audits common for international/special needs.
• No TIN: Return rejected; $290 penalty per return.

Amend with Form 1040-X within 3 years; reasonable cause waives.

Best Practices for Maximizing Form 8839 in 2025

• Document Everything: Retain receipts/decrees 7 years; use adoption agency summaries.
• Employer Check: Ask HR for benefits (up to $17,280 exclusion + credit on remainder).
• Carryforward Strategy: Apply oldest first; track via IRS worksheet.
• Special Needs Tip: Confirm state determination for full credit sans expenses.
• Software/Pros: TurboTax guides; CPA for complex international cases.
• State Credits: Stack with federal (e.g., CA up to $2,500).

Conclusion: Unlock Up to $17,280 with Form 8839 in 2025

The Adoption Tax Credit via IRS Form 8839 transforms adoption costs into savings, with $17,280 max and $5,000 refundable for 2025—easing the journey for 135,000+ annual U.S. adoptions. Start tracking expenses now for your April 15, 2026, filing.

Download the 2025 form/instructions at IRS.gov/Form8839. For help, call 800-829-1040 or consult Pub. 968. Build your family—claim your credit.

Last updated: December 2025. Verify IRS sources for advice.

 

IRS Form 1040 (Schedule H) – Household Employment Taxes – Hiring a nanny, housekeeper, or caregiver? You’re not just providing a service—you’re an employer under IRS rules. IRS Form 1040 Schedule H, “Household Employment Taxes,” is the key form for reporting and paying federal taxes on wages paid to household employees. Often called “nanny taxes,” these include Social Security, Medicare, federal unemployment (FUTA), and withheld income taxes. For tax year 2025, thresholds rise slightly, and with the Social Security wage base at $176,100, accurate filing avoids penalties up to 25% of unpaid taxes.

This SEO-optimized guide covers Schedule H filing requirements for 2025, who qualifies, step-by-step instructions, state considerations, and updates. Whether you’re a busy parent or homeowner, stay compliant with IRS Publication 926. Download the 2025 form at IRS.gov/ScheduleH.

 

What Is IRS Schedule H (Form 1040)?

Schedule H calculates and reports household employment taxes if you pay cash wages to domestic workers like nannies, au pairs, housekeepers, gardeners, or senior caregivers. It’s attached to your Form 1040, 1040-SR, 1040-NR, 1040-SS, or 1041. The form covers:

• FICA Taxes: Social Security (6.2% each for employer/employee) and Medicare (1.45% each).
• FUTA Tax: Federal unemployment (6% on first $7,000, often reduced to 0.6% with state credit).
• Withheld Federal Income Tax: Optional, but reportable if done.

No separate quarterly filings like business employers—pay annually with your return. For 2025, the form removes outdated COVID-19 sick leave credit lines. Total taxes from line 27 go to Schedule 2 (Form 1040), line 9.

Who Must File Schedule H in 2025?

You’re a household employer if you control what, when, and how work is done in/around your home. File if any apply for 2025 wages:

• Paid $2,800+ cash wages to one household employee (up from $2,700 in 2024).
• Paid $1,000+ total cash wages to all household employees in any calendar quarter of 2024 or 2025 (triggers FUTA).
• Withheld federal income tax from a household employee’s wages.

Household Employee vs. Independent Contractor Table (2025)

Role/Example	Likely Household Employee?	Why?
Full-time nanny	Yes	You control schedule, duties.
Occasional babysitter	No (if < $2,800 total)	Below threshold; self-scheduled.
Live-in au pair	Yes	Room/board counts as wages.
Gardener (you direct)	Yes	Control over methods.
Freelance cleaner (sets own hours)	No	Independent business.

Exceptions: Wages to your spouse, child under 21, or parent aren’t subject to FICA/FUTA. Non-cash payments (e.g., groceries) generally don’t count as wages.

Even if no Form 1040 is required, file Schedule H standalone by April 15, 2026.

2025 Thresholds and Tax Rates for Household Employment

Key updates: Social Security wage base rises to $176,100 (from $168,600); FICA threshold to $2,800; FUTA unchanged at 0.6% effective rate (6% gross, 5.4% credit).

2025 Household Tax Rates Table

Tax Type	Employer Rate	Employee Rate (Withheld)	Wage Base/Limit	Threshold to Apply
Social Security (FICA)	6.2%	6.2%	$176,100	$2,800 per employee
Medicare (FICA)	1.45%	1.45%	Unlimited	$2,800 per employee
Additional Medicare	0.9% (if wages >$200K single)	N/A (employer only)	Unlimited	$2,800 per employee
FUTA	6% (0.6% net)	0%	$7,000	$1,000/quarter total

*Total FICA: 15.3% (7.65% each). FUTA credit reduces if state taxes unpaid or in credit reduction states (e.g., CA: 1.2% effective). State UI varies (e.g., CA: up to 6.2% on first $7,000).

Cash wages include checks, direct deposits; exclude employer-paid insurance premiums.

When Is Schedule H Due in 2026?

Attach to your 2025 Form 1040: April 15, 2026 (or October 15 with Form 4868 extension). No separate payment—taxes are due with your return. If no return required, mail Schedule H alone.

For W-2s: Issue to employees by January 31, 2026; file with SSA by February 2, 2026.

IRS Form 1040 (Schedule H) Download and Printable

Download and Print: IRS Form 1040 (Schedule H)

Key 2025 Household Tax Deadlines Table

Action	Deadline
New hire reporting (if state-required)	20 days from hire
W-2 to employee	Jan. 31, 2026
W-2/W-3 to SSA	Feb. 2, 2026
Schedule H with 1040	April 15, 2026
State UI payment (if applicable)	Varies by state

How to Complete Schedule H (Form 1040): Step-by-Step (2025 Form)

Use the 2025 draft form; report in U.S. dollars. Gather pay records, Form W-4 (for withholding), and state UI info. Sequence: Part I (FICA), Part II (FUTA), Part III (Totals).

Part I: Social Security, Medicare, and Federal Income Taxes

• Lines 1–2: Employee details (name, SSN, address—if multiple, attach list).
• Line 3: Total cash wages (exclude non-cash; cap Social Security at $176,100/employee).
• Line 4: Social Security wages (line 3 or $176,100 max).
• Line 5: Medicare wages (line 3; unlimited).
• Line 6: Additional Medicare withholding (0.9% on line 5 excess over $200K single/$250K joint).
• Line 7: Federal income tax withheld (per W-4).
• Line 8: Total FICA + income tax (add lines 2, 4, 6, 7).

Part II: Federal Unemployment (FUTA) Tax

• Line 9: Check if $1,000+ in any 2024/2025 quarter.
• Line 10: FUTA wages ($7,000 max/employee).
• Line 11: State contributions paid timely (for credit).
• Line 12: Credit rate (5.4% max; reduce for credit states).
• Lines 13–26: Calculate gross FUTA (6% × line 10), credit (line 11 × line 12), net FUTA (line 13 – credit).

Part III: Total Household Employment Taxes

• Line 27: Add line 8 + net FUTA (to Schedule 2, line 9).

Pro Tip: Use IRS Worksheet in Pub. 926 for multi-employee totals. E-file via tax software; paper mail to IRS address on Form 1040 instructions.

E-Filing and Payment for Schedule H

E-file with your 1040 via IRS Free File, TurboTax, or H&R Block—mandatory if 10+ W-2s. Pay via direct debit or check (note “2025 Form 1040 Schedule H”). No quarterly deposits for households.

Recent Changes to Schedule H for 2025 Filings

• Threshold Increase: FICA to $2,800 (from $2,700); FUTA quarter check includes 2025.
• Wage Base: Social Security $176,100 (up $7,500).
• FUTA Credit Reductions: CA (1.2% effective), CT/NY/Virgin Islands higher; 49 states + DC at full 5.4% credit.
• No Sick Leave Credit: Removed post-2023.
• State UI: Varies; e.g., CA ETT 0.1%, SDI 1.2% (no wage limit).

Monitor IRS.gov for final 2025 form (draft as of Dec. 2025).

Penalties for Late or Incomplete Schedule H Filing

• Failure to File/Pay: 5% per month (max 25%) on unpaid taxes.
• Late W-2: $60–$660 per form.
• Unreported Wages: 1.5%–25% underpayment.
• Interest: ~7% compounded daily.

Reasonable cause (e.g., first-time error) may waive; amend with Form 1040-X.

Best Practices for Schedule H Compliance in 2025

• Track Quarterly: Use apps like HomePay for wage logs.
• Get EIN: Apply via Form SS-4 if needed (free).
• Issue W-2s: By Jan. 31; include FICA in boxes 3–6.
• State Check: Contact agency (e.g., CA EDD for UI-HA form); some require annual filing.
• Software: TurboTax auto-calculates; consult CPA for multi-state.
• New Hires: Report to state within 20 days if required.

Proactive compliance builds employee benefits eligibility (e.g., Social Security credits).

Conclusion: Master Nanny Taxes with Schedule H in 2025

IRS Schedule H ensures fair funding for Social Security and unemployment while protecting your household. With $2,800 thresholds and $176,100 wage base, 2025 filings (due April 2026) demand precise records—avoid penalties by starting now.

Download Pub. 926 and forms at IRS.gov/Pub926. Questions? Call IRS at 800-829-1040. Compliant hiring: Peace of mind for your home.

Last updated: December 2025. Consult IRS or a tax pro for advice.

 

IRS Form 8404 – Interest Charge on DISC-Related Deferred Tax Liability – Exporting U.S. goods can unlock powerful tax incentives, but with benefits come compliance hurdles. For shareholders of Interest Charge Domestic International Sales Corporations (IC-DISCs), IRS Form 8404 calculates the mandatory annual interest charge on deferred tax liability from untaxed export commissions. This charge—often 5% or more of the deferred amount—ensures the tax deferral isn’t interest-free, but it’s a small price for the 50% commission deduction under Section 993.

As we head into the 2025 filing season for tax year 2024, accurate Form 8404 preparation is critical to avoid late-payment interest at 7% (compounded daily). This SEO-optimized guide covers eligibility, deadlines, line-by-line instructions, and updates based on the latest IRS data. Download the 2024 Form 8404 at IRS.gov/Form8404.

What Is IRS Form 8404?

Form 8404, “Interest Charge on DISC-Related Deferred Tax Liability,” is used by IC-DISC shareholders to compute and report an interest payment on deferred taxes from qualified export income. Under IRC Section 995(f), IC-DISCs defer tax on 50% of commissions, creating a “deferred tax liability.” The form multiplies this liability by the base period T-bill rate factor (5.053% for 2024) to determine the charge.

Unlike a tax return, Form 8404 is filed separately and requires payment by the income tax due date. C corporations deduct the charge as a business expense; individuals and others cannot. For 2024, the form uses a precise daily-compounded factor for leap years (366 days), simplifying calculations.

Who Must File Form 8404 in 2025?

Every IC-DISC shareholder must file if the IC-DISC reports deferred DISC income to them on Schedule K (Form 1120-IC-DISC), line 10, Part III—even if the amount is zero or negative (though no form is needed if the net on line 4 ≤ $0). This includes:

• Individuals, corporations, trusts, and estates with direct or indirect IC-DISC ownership.
• Nonresident aliens with U.S.-sourced deferred income.
• Pass-through entities (e.g., S corps, partnerships) that allocate deferred income to owners.

No filing if there’s no deferred income or the IC-DISC revokes election. Amended Form 8404 is required for audit changes or estimate corrections.

Who Files Form 8404? Quick Eligibility Table (Tax Year 2024)

Shareholder Type	Deferred Income Reported?	File Form 8404?
C Corporation	Yes	Yes
Individual	Yes	Yes
Trust/Estate	Yes	Yes
No Deferred Income	N/A	No

When Is Form 8404 Due in 2025?

File Form 8404 by the due date of your federal income tax return (excluding extensions) for the tax year ending with or including the IC-DISC’s year-end. Pay the interest charge by your income tax payment due date. No automatic extension for filing or payment—use Form 7004 only if it extends your main return (rare for individuals).

For calendar-year filers (IC-DISC year ends Dec. 31, 2024): April 15, 2025. Fiscal-year example: July 31, 2025, end means November 15, 2025.

Key 2025 Form 8404 Deadlines Table

Tax Year End	Filer Type	Filing & Payment Due Date
Dec. 31, 2024	Individual/C Corp	April 15, 2025
July 31, 2025	C Corp	November 15, 2025
Dec. 31, 2024	Partnership (allocating to owners)	Varies by owner

Notes: Weekends/holidays shift to next business day. Mail separately to IRS, Kansas City, MO 64999.

IRS Form 8404 Download and Printable

Download and Print: IRS Form 8404

How to Complete IRS Form 8404: Step-by-Step (2024 Form for 2025 Filings)

The 2024 form is a simple two-pager. Gather your tax return, IC-DISC Schedule K, and T-bill factor (0.050531976 for 366-day 2024). Report in U.S. dollars; round to whole numbers.

Heading

• Item A: Check filer type (individual, corporation, etc.).
• Item B: Your SSN/EIN.
• Item C: IC-DISC EIN.
• Item D: Tax year (e.g., 2024).

Lines 1–9: Interest Charge Calculation

1. Line 1: Taxable income/loss from your return (Form 1040 line 15 or 1120 line 30; actual or estimated).
2. Line 2: Deferred DISC income from Schedule K, line 10.
3. Line 3: Net Section 996 carryback/carryover adjustments (usually $0; see instructions for NOLs).
4. Line 4: Sum lines 1–3 (if ≤ $0, stop—no form needed).
5. Line 5: Tax liability on line 4 amount (recompute return including deferred income; use tax tables/rates).
6. Line 6: Actual tax liability from your return.
7. Line 7: Deferred tax liability (line 5 – line 6).
8. Line 8: Base period T-bill rate factor (0.050531976 for 2024; printed on form).
9. Line 9: Interest due (line 7 × line 8).

Pro Tip: For short/52-53 week years, adjust the factor using IRS tables in Rev. Rul. 2024-27. Software like TurboTax Business automates recomputation.

Recent Changes to Form 8404 for 2025 Filings

The 2024 form (filed in 2025) is unchanged structurally, but key updates include:

• T-Bill Factor: 5.053% for 2024 (from average 1-year Treasury rates ending Sept. 30, 2024; per Rev. Rul. 2024-27).
• Interest Rates: Underpayment rate remains 7% (Q2 2025 onward; compounded daily on late payments).
• No Major Revisions: As of August 2025, no changes per IRS review; monitor for post-draft legislation.

Penalties for Late or Incomplete Form 8404 Filing

Missing the deadline triggers:

• Late Payment Interest: 7% compounded daily on unpaid line 9 amount (Section 6601; starts from income tax due date).
• Failure-to-Pay Penalty: 0.5% per month (max 25%) on unpaid interest.
• Failure-to-File Penalty: If treated as a return, 5% per month (max 25%), but IRS typically assesses only interest/penalties—no minimum for >60 days late.

Reasonable cause (e.g., illness) may waive; request abatement with documentation. Late amendments avoid further accrual if filed promptly.

Best Practices for Form 8404 Compliance in 2025

• Prepare Early: Recompute tax with deferred income during return drafting; tie to IC-DISC K-1.
• Separate Submission: Mail Form 8404 and payment (check to “United States Treasury,” note “Form 8404-Interest Due” and EIN) to Kansas City—don’t attach to 1040/1120.
• Track Factors: Bookmark IRS Rev. Ruls. for annual T-bill updates.
• Use Tools: Export software (e.g., Thomson Reuters) or CPAs for multi-shareholder IC-DISCs.
• Retain Records: Keep 3+ years of computations, K-1s, and proofs of payment.

For C corps, deduct line 9 on Form 1120, line 17—boosting after-tax savings.

Conclusion: Streamline IC-DISC Compliance with Form 8404 in 2025

IRS Form 8404 is the linchpin of IC-DISC tax deferral, balancing export incentives with a modest interest charge (e.g., ~$530 on $10,500 deferred tax). With April 15, 2025, deadlines for most filers, review your IC-DISC K-1 now to avoid 7% compounding interest.

Access the form and Rev. Rul. 2024-27 at IRS.gov/Form8404. For complex setups, consult a tax pro at 800-829-1040. File on time—export smarter, not harder.

Last updated: December 2025. Always verify with IRS sources for personalized advice.

 

IRS Form 8853 – Archer MSAs and Long-Term Care Insurance Contracts – Navigating tax-advantaged health savings and insurance can save you thousands, but IRS rules are strict. IRS Form 8853 is your key tool for reporting contributions to Archer Medical Savings Accounts (MSAs), distributions from Archer or Medicare Advantage MSAs, and taxable benefits from long-term care (LTC) insurance. For tax year 2024 (filed in 2025), this form ensures compliance while maximizing deductions—especially with new clarifications on qualifying medical expenses like condoms.

Whether you’re self-employed with an Archer MSA or receiving LTC per diem benefits, this SEO-optimized guide breaks down Form 8853 filing requirements for 2025, eligibility, limits, step-by-step instructions, and updates. Download the official 2024 form at IRS.gov/Form8853.

 

What Is IRS Form 8853?

Form 8853, “Archer MSAs and Long-Term Care Insurance Contracts,” attaches to Form 1040, 1040-SR, or 1040-NR. It serves three main purposes:

• Archer MSA Reporting (Sections A & B): Tracks contributions (deductible on Schedule 1, line 13), distributions (taxable on Schedule 1, line 8e), and penalties (e.g., 20% on non-qualified withdrawals).
• LTC Insurance (Section C): Calculates taxable per diem or reimbursement benefits exceeding limits, reported on Schedule 1, line 8z.

Archer MSAs—pilot-program accounts from the 1990s paired with high-deductible health plans (HDHPs)—are rare today, mostly for pre-2007 participants. Medicare Advantage MSAs offer similar benefits for Medicare enrollees. LTC reporting prevents double-dipping on tax-free benefits.

File even if you have no taxable income—just distributions trigger it.

Who Must File Form 8853 in 2025?

You (or your spouse, if joint) must file if any apply for 2024:

• Made/employer made Archer MSA contributions.
• Acquired an Archer/Medicare Advantage MSA from a decedent.
• Received Archer/Medicare Advantage MSA distributions (use Form 1099-SA).
• Received LTC per diem/accelerated death benefits (Form 1099-LTC).

No filing if only employer contributions (W-2 code R) without personal activity, but track for deductions. Self-employed? Deduct 100% of premiums (up to limits) on Schedule 1, line 17.

2025 Deadlines for Form 8853

Attach to your 2024 return: April 15, 2025 (or October 15 with extension via Form 4868). Archer contributions for 2024 can be made until April 15, 2025. LTC benefits are reported in the year received.

Tax Year Event	Deadline
2024 Contributions (Archer MSA)	April 15, 2025
Form 1040/8853 Filing	April 15, 2025
Extension (Form 4868)	October 15, 2025

Archer MSA Contribution and Deduction Limits for 2025

Archer MSAs require an HDHP: $2,800–$4,150 deductible (self-only) or $5,550–$8,300 (family) for 2024 (filed 2025). Contributions are 65% (self) or 75% (family) of deductible, capped by earned income from the HDHP employer.

No new Archer MSAs since 2007; existing ones roll over tax-free. Medicare Advantage MSAs: Up to 1/2 HDHP deductible, max $3,900 (2024).

2024 HDHP Limits Table (Filed in 2025)

Coverage Type	Minimum Deductible	Maximum Deductible
Self-Only	$2,800	$4,150
Family	$5,550	$8,300

Long-Term Care Insurance Limits for 2025

Qualified LTC premiums count as medical expenses (Schedule A) if >7.5% AGI. Deduct up to age-based caps; per diem benefits tax-free up to $420/day (2025) or actual costs (whichever greater). Excess is taxable.

Self-employed deduct 100% (up to limit) above-the-line. State credits (e.g., 20% in some) add value.

2025 LTC Premium Deduction Limits Table

Age (End of 2024)	Maximum Deductible Premium
40 or under	$480
41–50	$900
51–60	$1,800
61–70	$4,810
71+	$6,020

*Per couple: Double if both qualify. Source: Rev. Proc. 2024-40.

IRS Form 8853 Download and Printable

Download and Print: IRS Form 8853

How to Complete IRS Form 8853: Step-by-Step (2024 Form)

Use 2024 form for 2025 filings. Joint filers: Separate sections per spouse if needed; combine on “controlling” form. Gather Forms 1099-SA (distributions), 5498-SA (contributions), 1099-LTC (benefits).

Section A: Archer MSA Contributions & Deductions

1. Line 1: Employer contributions (W-2, box 12, code R).
2. Line 2: Your contributions (Jan 1–Apr 15, 2025, for 2024).
3. Line 3: Limitation—65%/75% of HDHP deductible (use monthly worksheet if partial year).
4. Line 4: Compensation from HDHP employer.
5. Line 5: Deduction = smallest of lines 1–4 (to Schedule 1, line 13).

Section A: Archer MSA Distributions

6a–6c: Total distributions (1099-SA, box 1); code (box 2); spouse total. 7: Unreimbursed qualified expenses (Pub. 502; keep receipts). 8: Taxable amount (6c – 7); to Schedule 1, line 8e. 9: 20% penalty on non-qualified (line 8 × 0.20, exceptions for death/disability); to Schedule 2, line 8.

Section B: Medicare Advantage MSA Distributions

10–13b: Similar to Archer; 50% penalty on non-qualified (line 13a × 0.50, to Schedule 2, line 17f).

Section C: LTC Insurance Contracts

14–26: Policyholder info; per diem/reimbursement amounts (1099-LTC); subtract actual costs or $420/day limit; excess taxable on line 26 (Schedule 1, line 8z).

Pro Tip: Use accrual method for expenses; rollovers (1099-SA code 2) aren’t taxable.

Recent Changes to Form 8853 for 2025 Filings

• Medical Expense Expansion: Condoms qualify as reimbursable (Notice 2024-71).
• LTC Per Diem: $420/day (up from $410).
• Premium Caps: Increased across ages (e.g., 71+: $6,020 vs. $5,880).
• No Archer Changes: Limits tied to HDHP; no new accounts.

Check IRS.gov for post-draft updates.

Penalties for Errors on Form 8853

• Excess Contributions: 6% excise tax (Form 5329).
• Non-Qualified Distributions: 20% (Archer) or 50% (Medicare) additional tax.
• LTC Excess: Taxable as ordinary income.
• Late Filing: 5% monthly on unpaid tax (up to 25%).

Reasonable cause waives; amend with Form 1040-X.

Best Practices for Form 8853 in 2025

• Track Monthly: Verify HDHP coverage for Archer limits.
• Retain Records: 1099s, receipts (3+ years); actual LTC costs beat per diem caps.
• Software Help: TurboTax/H&R Block auto-populates from W-2/1099s.
• Self-Employed Tip: Deduct LTC premiums fully (up to limit) without itemizing.
• Consult Pros: For decedents or complex LTC, see a CPA.

Maximize via Pub. 502 for expenses.

Conclusion: Optimize Your Health Tax Breaks with Form 8853 in 2025

IRS Form 8853 unlocks deductions for rare Archer MSAs and essential LTC coverage, potentially saving $1,000+ via limits like $6,020 premiums (71+). With April 15, 2025, looming, gather docs now—especially post-2024 expansions.

Download at IRS.gov/Form8853; call 800-829-1040 for help. File accurately: Health savings today, bigger refunds tomorrow.

Last updated: December 2025. Verify IRS sources for advice.

 

IRS Form 1120-F (Schedule P) – List of Foreign Partner’s Interests in Partnerships – Foreign corporations doing business in the U.S. through partnerships must disclose their ownership stakes annually to the IRS. Schedule P (Form 1120-F) — “List of Foreign Partner Interests in Partnerships” — is the required attachment that reports every U.S. or foreign partnership in which the foreign corporation is a direct or indirect partner.

For tax year 2024 (filed in 2025), every foreign corporation filing Form 1120-F must attach a complete Schedule P, even if it has no effectively connected income (ECI) or no current-year activity in the partnership. The IRS uses Schedule P to track Section 1446 withholding, transfer pricing, BEAT, GILTI, Subpart F, and treaty claims. Non-compliance triggers automatic $25,000+ penalties.

This SEO-optimized guide covers 2025 Schedule P filing requirements, deadlines, line-by-line instructions, common mistakes, and penalty avoidance strategies. Sources: 2024 Form 1120-F Instructions, Treas. Reg. §1.6038B-2, and IRS LB&I campaigns (updated through December 2025).

 

What Is Schedule P (Form 1120-F)?

Schedule P is a mandatory transparency schedule added in 2017 and significantly expanded in 2020. It requires foreign corporations to list:

• Direct and indirect interests in U.S. and foreign partnerships
• Partner-level capital and profits percentages
• Section 1446 withholding amounts paid or credited
• Transfers of partnership interests during the year (triggers Form 8865 if ≥10%)

Failure to file a complete and accurate Schedule P results in a $25,000 penalty per partnership not listed (Section 6038C), with no reasonable-cause exception in most cases.

IRS Form 1120-F (Schedule P) Download and Printable

Download and Print: IRS Form 1120-F (Schedule P)

Who Must File Schedule P in 2025?

You must attach Schedule P to Form 1120-F if the foreign corporation:

Situation	Schedule P Required?
Files Form 1120-F (protective or income return)	YES — always
Owns any direct or indirect partnership interest	YES
Tiered partnerships (CFC → foreign partnership → U.S. partnership)	YES — list every level
Interest dropped to 0% during the year	YES — still report
No ECI and files protective 1120-F only	YES — still mandatory
Interest <10% and no Form 8865 required	YES — Schedule P still required

Only exception: A foreign corporation that never held any partnership interest (direct, indirect, or constructive) during the entire tax year may skip Schedule P.

2025 Filing Deadlines for Schedule P (Form 1120-F)

Tax Year End	Original Due Date (1120-F)	Automatic 6-Month Extension (Form 7004)
Dec 31, 2024	March 17, 2025	September 15, 2025
Fiscal year example: June 30, 2025	September 15, 2025	March 16, 2026

Warning: Extensions extend filing but not the $25,000 penalty clock if Schedule P must be complete when filed.

How to Complete Schedule P (Form 1120-F) – Line-by-Line (2024 Form, used in 2025)

Top of Schedule P

• Name and EIN of the foreign corporation (same as Form 1120-F)
• Check box if this is an amended Schedule P

Part I – List of All Partnerships (Columns a–i)

Report every partnership (U.S. or foreign) in which the corporation held any interest during the year:

Column	What to Enter
(a)	Partnership name
(b) U.S. EIN (or “Applied For” or foreign tax ID if no EIN)
(c) Check if U.S. partnership
(d) Check if foreign partnership
(e) Check if transfer of interest occurred (≥10% → also triggers Form 8865)
(f) Beginning % of profits interest
(g) Beginning % of capital interest
(h) Ending % of profits interest
(i) Ending % of capital interest

Part II – Section 1446 Withholding on ECTI (U.S. Partnerships Only)

For each U.S. partnership listed in Part I:

Column	What to Enter
(a) Partnership name & EIN (same as Part I)
(b) Amount of ECTI allocable to the foreign corporation
(c) Section 1446 tax paid by partnership on your behalf
(d) Section 1446 tax credited to you on Form 8805

Part III – Transfers of Partnership Interests

Only complete if you checked column (e) in Part I (≥10% transfer → also file Form 8865).

Common Mistakes That Trigger $25,000+ Penalties

1. Omitting tiered partnerships (e.g., CFC owns foreign holding company that owns U.S. LLC)
2. Leaving Schedule P blank on protective returns
3. Using “Various” or “Multiple” instead of listing each partnership
4. Failing to update beginning/ending percentages after mid-year transfers
5. Not attaching Schedule P when no Form 8805 received (still required)

2025 Updates and Recent IRS Enforcement

• Penalty Inflation Adjustment: $25,000 → $28,000 per omitted partnership beginning 2025 (IR-2024-312).
• LB&I Campaign: Active IRS campaign targeting missing Schedule P on protective 1120-F returns (2023–2026).
• E-Filing: Schedule P is now part of mandatory electronic 1120-F filing (MeF) for all corporations with assets ≥$10M or 250+ returns.
• Coordination with Form 5472: If the partnership is a 25%-foreign-owned disregarded entity, also file Form 5472.

Penalty Table – Schedule P Non-Compliance

Violation	Penalty per Partnership	Reasonable Cause Relief?
Failure to file complete Schedule P	$28,000	Rarely granted
Continued failure after IRS notice	+$28,000 every 30 days	No
Willful failure	Up to 100% of tax due	No

Best Practices to Avoid Penalties in 2025

• Maintain a master partnership tracker updated quarterly with % changes
• Attach Schedule P even on protective 1120-F returns
• Use tax software that auto-populates Schedule P from K-1s and internal records
• File Form 8865 and Schedule P for ≥10% transfers (they are not duplicates)
• Keep proof of mailing (certified mail or e-file acknowledgment)

Conclusion: Don’t Risk $28,000+ Penalties – File Schedule P in 2025

Schedule P (Form 1120-F) is no longer optional — the IRS treats it as a core transparency requirement for every foreign corporation filing Form 1120-F. Missing even one partnership triggers an automatic $28,000 penalty with almost no relief.

Download the 2024 Schedule P and instructions at IRS.gov/Form1120F
E-Filing is mandatory for most filers in 2025 — use approved providers like Thomson Reuters ONESOURCE, Vertex, or TaxAct Business.

File accurately by March 17, 2025 (or extended deadline), and keep your foreign corporation compliant.

Last updated: December 2025 | Sources: IRS Form 1120-F Instructions (2024), Treas. Reg. §1.6038-3, IR-2024-312, IRS LB&I Campaign 2023-08

 

IRS Form 8804 (Schedule A) – Penalty for Underpayment of Estimated Section 1446 Tax by Partnerships – Partnerships with foreign partners navigating U.S. tax compliance face unique withholding obligations under Section 1446. If your partnership allocates effectively connected taxable income (ECTI) to non-U.S. partners, IRS Form 8804 Schedule A calculates any penalty for underpaying estimated withholding taxes. This underpayment penalty, akin to corporate estimated tax penalties under Section 6655, ensures timely payments to avoid IRS interest and additions to tax.

For tax year 2024 (filed in 2025), partnerships must attach Schedule A to Form 8804 if the total Section 1446 tax exceeds $500, even if no penalty is due—especially when using alternative methods like annualized income or adjusted seasonal installments. This SEO-optimized guide covers Form 8804 Schedule A filing requirements, due dates, step-by-step instructions, and strategies to minimize penalties. Download the latest forms at IRS.gov/Form8804.

 

What Is IRS Form 8804 Schedule A?

Schedule A (Form 8804), titled “Penalty for Underpayment of Estimated Section 1446 Tax by Partnerships,” determines if your partnership owes an underpayment penalty on quarterly estimated withholding taxes. Section 1446 requires partnerships to withhold tax on ECTI allocable to foreign partners at rates up to 37% (non-corporate) or 21% (corporate), paid via Form 8813 installments.

The schedule compares required installments (25% of the lesser of current-year tax or prior-year safe harbor) against actual payments. If shortfalls occur, penalties accrue at the federal short-term rate plus 3% (under Section 6621), compounded daily. No penalty applies if total Section 1446 tax on Form 8804, line 5f, is under $500.

For 2024 filings, the form integrates updates from final regulations, including safe harbor exceptions for short tax years and coordination with Form 8804-C certifications.

Who Must File Schedule A (Form 8804)?

Schedule A is required for partnerships filing Form 8804 that have ECTI allocable to foreign partners. Attach it to Form 8804 if:

• Total Section 1446 tax ≥ $500, regardless of penalty amount.
• Using annualized income installment method (Part IV) or adjusted seasonal method (Part V).
• Prior-year safe harbor is elected but doesn’t fully offset underpayments.

Who Qualifies as a Foreign Partner?

• Nonresident aliens, foreign corporations, or foreign partnerships/trusts with U.S.-sourced ECTI.
• Excludes U.S. residents or partners with valid treaty claims reducing withholding (via Form 8804-C).

Publicly traded partnerships (PTPs) follow modified rules but still file if applicable. Even if no tax is due (e.g., after Form 8804-C adjustments), file if gross ECTI exists. Failure to withhold or report triggers personal liability for the withholding agent.

When Is Schedule A (Form 8804) Due in 2025?

Form 8804 (with attached Schedule A) is due by the 15th day of the 3rd month after the partnership’s tax year ends—for calendar-year 2024, that’s March 17, 2025 (adjusted for weekend). All-foreign-partner partnerships get until the 15th day of the 6th month (June 16, 2025).

Estimated payments via Form 8813 are quarterly: 15th day of the 4th, 6th, 9th, and 12th months (April 15, June 16, September 15, 2025; January 15, 2026).

Key 2025 Deadlines Table for Section 1446

Event	Calendar-Year 2024 Due Date	Fiscal-Year Example (Ends 6/30/2025)
Q1 Installment (Form 8813)	April 15, 2025	October 15, 2025
Q2 Installment (Form 8813)	June 16, 2025	December 15, 2025
Q3 Installment (Form 8813)	September 15, 2025	March 16, 2026
Q4 Installment (Form 8813)	January 15, 2026	June 15, 2026
Form 8804 & Schedule A Filing	March 17, 2025	September 15, 2025
Extension (Form 7004)	March 17, 2025 (6 months)	September 15, 2025 (6 months)

*Notes: Weekends/holidays shift to next business day. Form 7004 extends filing but not payments—pay 100% by original due date to avoid penalties.

IRS Form 8804 (Schedule A) Download and Printable

Download and Print: IRS Form 8804 (Schedule A)

How to Complete Schedule A (Form 8804): Step-by-Step Guide

Use the 2024 Schedule A for tax years ending in 2024. Report in U.S. dollars; attach to Form 8804. The IRS may compute the penalty if you don’t file Schedule A, but proactive calculation often reduces it via alternative methods.

Part I: Required Installments

1. Line 1: Total Section 1446 tax from Form 8804, line 5f.
2. Line 2: Prior-year safe harbor—100% of 2023 tax (or 110% if gross receipts > $1M), ignoring Form 8804-C reductions. Use if ≥50% of current-year tax.
3. Line 3: Smaller of lines 1 or 2.
4. Lines 4a–4d: 25% of line 3 per quarter (adjust for short years).
5. Lines 5–6: Enter actual payments (including overpayments credited from prior year).
6. Line 7: Required installment—smaller of line 4 or cumulative payments.

Part II: Underpayment Calculation

• Line 9: Cumulative required minus payments—if positive, underpayment exists.
• Line 10: Shortfall period start (installment due date).
• Line 11: Days late.
• Line 12: Underpayment amount × days × penalty rate (e.g., 8% annualized for Q1 2025).

Parts III–V: Alternative Methods (If Applicable)

• Part III: Standard method.
• Part IV: Annualized income—annualizes ECTI for uneven income (e.g., Q1: 4/12 of year).
• Part V: Adjusted seasonal—for businesses with seasonal patterns (e.g., 22.5% Q1 if prior years show low early income).

Pro Tip: Use Form 8804-W worksheet for installments. Sequence: Complete Form 8804 first, then Schedule A. Software like TurboTax Business automates calculations.

Recent Changes to Schedule A (Form 8804) for 2025 Filings

The 2024 form (filed in 2025) incorporates:

• Penalty Rate Update: Federal short-term rate +3% (8% as of Q1 2025; quarterly adjustments via IRS Notice).
• Safe Harbor Refinement: Prior-year tax must be ≥50% of current; short years (<4 months) exempt from installments.
• Form 8804-C Integration: Enhanced reductions for certified partner deductions/losses.
• E-Filing Push: While paper allowed, electronic via MeF recommended for accuracy.

No major legislative shifts for 2025; monitor IRS.gov for post-draft updates.

Penalties for Late or Incomplete Schedule A Filing

Underpayments trigger:

• Addition to Tax (Section 6655): Penalty rate on shortfall × days late (max 25% equivalent).
• Failure-to-Pay: 0.5% per month on unpaid Form 8804 balance (up to 25%).
• Late Filing: 5% per month on unpaid tax (up to 25%); minimum $485 if >60 days late.
• Interest: Compounded daily at underpayment rate.

Reasonable cause (e.g., first-time abatement) waives penalties—attach statement. Non-compliance risks personal liability for partners.

Best Practices for Schedule A (Form 8804) Compliance in 2025

• Quarterly Monitoring: Use Form 8804-W to project ECTI and adjust payments—catch-up underpayments immediately.
• Leverage Safe Harbors: Pay 100%/110% of prior-year tax to avoid calculations.
• Certify Adjustments: Obtain Form 8804-C from partners early to reduce withholding.
• Software & Pros: Tools like Drake Tax or a CPA handle annualization complexities.
• Recordkeeping: Retain 3+ years of ECTI allocations, payments, and notifications (to partners within 10 days of installments).
• E-Pay: Use EFTPS for installments to ensure timely crediting.

Proactive filing minimizes audits and builds compliance confidence.

Conclusion: Avoid Section 1446 Penalties with Schedule A in 2025

IRS Form 8804 Schedule A is your partnership’s shield against underpayment penalties, ensuring Section 1446 withholding on foreign partners’ ECTI stays compliant. With the March 17, 2025, deadline for calendar-year filers, review installments now—extensions via Form 7004 don’t delay payments.

Access the 2024 form and instructions at IRS.gov/Form8804. For guidance, call the IRS International Hotline at 267-941-1000. Master Schedule A, and focus on growth, not IRS notices.

Last updated: December 2025. Consult official IRS sources or a tax advisor for personalized advice.

 

IRS Form 990 – Return of Organization Exempt From Income Tax – Tax-exempt organizations, from charities to political groups, play a crucial role in society by advancing public good without federal income tax liability. However, maintaining that status requires transparency through annual reporting. Enter IRS Form 990, the “Return of Organization Exempt From Income Tax,” which details finances, governance, and activities for public scrutiny and IRS compliance. For tax year 2024 (filed in 2025), accurate filing is more important than ever amid heightened IRS audits and e-filing mandates.

This SEO-optimized guide covers Form 990 filing requirements for 2025, including who must file, deadlines, step-by-step instructions, and penalties. Whether you’re a nonprofit leader or board member, use this resource to ensure compliance. Always consult IRS.gov for the latest updates.

 

What Is IRS Form 990?

IRS Form 990 is the annual information return required under Internal Revenue Code Section 6033 for most tax-exempt organizations under Section 501(a), Section 527 political organizations, and certain nonexempt charitable trusts. It reports:

• Financial data: Revenue, expenses, assets, and liabilities.
• Program accomplishments: Mission impact and service descriptions.
• Governance: Board structure, policies, and compensation.
• Compliance: Related-party transactions, lobbying, and foreign activities.

Unlike a tax return, Form 990 doesn’t calculate taxes but validates exempt status and promotes accountability. It’s publicly available (except Schedule B contributor details), fostering donor trust and enabling grant eligibility. For 2024 filings, the form emphasizes GAAP-aligned reporting and Schedule O narratives for clarity.

Smaller organizations may file Form 990-EZ (gross receipts < $200,000 and assets < $500,000) or Form 990-N (e-Postcard for receipts ≤ $50,000), while private foundations use Form 990-PF.

Who Must File Form 990 in 2025?

Most tax-exempt entities must file annually, but the form varies by size and type. Exceptions include churches, integrated auxiliaries, certain religious orders, state colleges, and governmental units.

Form 990 Filing Thresholds Table (Tax Year 2024)

Gross Receipts	Total Assets	Form Required
Normally ≤ $50,000	N/A	Form 990-N (e-Postcard; no extension available)
< $200,000	< $500,000	Form 990-EZ or Form 990
≥ $200,000	≥ $500,000	Form 990 (full)
Any (private foundations)	Any	Form 990-PF
Unrelated business income ≥ $1,000	N/A	Form 990-T (in addition)

• Required Filers: 501(c) organizations (e.g., charities, trade associations), 527 political groups, 4947(a)(1) trusts. Even without a determination letter, qualifying entities file.
• Group Returns: Central organizations can file for subordinates (up to 25/year; aggregate data).
• Foreign Organizations: File if U.S.-sourced gross receipts ≥ $50,000.
• Disregarded Entities: Report on parent’s Form 990 (use parent’s EIN except for employment taxes).

Failure to file for three consecutive years triggers automatic revocation of exempt status.

When Is Form 990 Due in 2025?

The deadline for Form 990 is the 15th day of the 5th month after your fiscal year ends. For calendar-year organizations (ending December 31, 2024), that’s May 15, 2025. Fiscal-year filers adjust accordingly—e.g., June 30, 2024, end means November 15, 2024 (adjusted for weekends/holidays).

Key 2025 Filing Deadlines Table (Tax Year 2024)

Fiscal Year End	Original Due Date	Extended Due Date (Form 8868)
December 31, 2024	May 15, 2025	November 17, 2025
March 31, 2025	August 15, 2025	February 17, 2026
June 30, 2025	November 17, 2025	May 15, 2026
September 30, 2025	February 17, 2026	August 15, 2026

Notes: Holidays/weekends shift to the next business day. Form 990-N has no extension but no late penalty.

IRS Form 990 Download and Printable

Download and Print: IRS Form 990

Extensions and Amendments

• Automatic 6-Month Extension: File Form 8868 by the original due date—no reason needed. This extends filing but not payment of any unrelated business income tax (Form 990-T).
• Amended Returns: Check “Amended return” in the heading and refile the full form with corrections. Attach an explanation on Schedule O. Late amendments can reinstate revoked status via streamlined procedures.

How to Complete IRS Form 990: Step-by-Step Guide

The 2024 Form 990 (for 2025 filings) includes Parts I–XII, plus schedules triggered by Part IV checkboxes. All filers complete Schedule O for narratives. Use accrual or cash method consistently; report in U.S. dollars, rounded to whole numbers. Attach financial statements if audited.

Essential Sections and Line Highlights

1. Heading (Items A–M): EIN, name/address (check change boxes), fiscal period, officer contact, gross receipts/assets, exempt status (e.g., 501(c)(3)), website, formation year/state.
2. Part I: Summary: Mission statement; key metrics (revenue $ from contributions/program services; expenses; net assets; employees/volunteers).
3. Part III: Program Service Accomplishments: Top 3 programs by expense (description, grants, revenue; NAICS codes); total from Part IX, line 25, column (B).
4. Part IV: Checklist of Required Schedules: Yes/No for 38 items (e.g., Schedule A for public charity; B for contributors >$5,000/2%; J for exec comp >$150,000).
5. Part V: Statements Regarding Other IRS Filings: Number of 1099s/W-2s filed; foreign accounts (FBAR); excess benefits/loans; contributions.
6. Part VI: Governance: Board size/independence; policies (conflicts, whistleblower); compensation process; public disclosure.
7. Part VII: Compensation: Officers/directors/key employees (>$150,000); top contractors (>$100,000); reportable (W-2 box 1/5 or 1099-NEC box 1) vs. other comp.
8. Part VIII: Statement of Revenue: Contributions (lines 1a–1h); program revenue (2a–2e); investments (3–5); other (6–12). Columns: total/program/unrelated/tax-exempt.
9. Part IX: Statement of Functional Expenses: By type (grants/compensation/fees) and function (program/management/fundraising). Total from line 25.
10. Part X: Balance Sheet: Assets/liabilities/net assets (beginning/end of year; unrestricted/temporarily/permanently restricted).
11. Part XI: Reconciliation of Net Assets: Net income per books; adjustments (e.g., unrealized gains).
12. Part XII: Financial Statements and Reporting: Accounting method; audited FS; tax return preparer.

Pro Tip: Sequence: Schedules first (e.g., R for related orgs), then Parts VII–XII, V–VI, III, I. Use software for calculations; retain records 3+ years.

E-Filing Requirements for Form 990

Mandatory e-filing applies to all Form 990 series returns for tax years beginning July 1, 2019, or later (Taxpayer First Act). Use IRS-approved providers (e.g., Tax990, ExpressTaxExempt). Paper filings are rejected unless waived (rare). Benefits: Faster processing (2–4 weeks), error checks, and electronic signatures. File via MeF system; attach PDFs for audits/statements.

Recent Changes to Form 990 for 2025 Filings

The 2024 form (filed in 2025) is largely unchanged, but note:

• Inflation-Adjusted Penalties: Late filing minimum now $20/day (up to $12,000 or 5% of receipts); $120/day for large orgs (>$1.2M receipts, up to $60,000).
• Schedule A Updates: For short years starting 2024, adjust public support test years (e.g., 2020–2024 instead of 2019–2023).
• E-Filing Enforcement: Stricter rejection of incomplete returns (Letters 2694C–2696C).
• No Major Overhauls: Core structure stable; monitor for post-2024 legislation (e.g., via IRS.gov/Form990).

Penalties for Late or Incomplete Form 990 Filing

Non-compliance erodes trust and costs dearly:

• Late Filing (Section 6651): $20/day (small orgs) or $120/day (large), max $12,000/$60,000 or 5% of gross receipts.
• Incomplete/Inaccurate: Same as late; IRS may return via Letter 2694C (10 days to correct).
• Responsible Person: $10/day, up to $5,000 per return.
• Revocation: Automatic after 3 years non-filing—reinstate via Form 1023/1024 or streamlined late filing.
• Other: Willful failure ($5,000+); public inspection violations ($20/day, max $10,000).

Request abatement for reasonable cause (e.g., disaster) with documentation. State penalties may add fees.

Best Practices for Form 990 Compliance in 2025

• Start Early: Gather FS, board minutes, and comp data by Q4 2024.
• Use Tools: E-file with Tax990 or TurboTax Nonprofit for auto-calcs and audits.
• Board Review: Approve draft; document policy compliance.
• Public Disclosure: Post on GuideStar/Website; respond to requests within 30 days.
• Seek Expertise: CPA for complex schedules (e.g., J for exec pay, F for international).
• Track Thresholds: Monitor receipts/assets quarterly to confirm form type.

Compliance isn’t just regulatory—it’s a trust-builder for stakeholders.

Conclusion: File Your Form 990 On Time in 2025

IRS Form 990 is the transparency lifeline for tax-exempt organizations, ensuring accountability while safeguarding your status. With the May 15, 2025, deadline for calendar-year filers, prioritize e-filing via Form 8868 if needed to avoid penalties up to $60,000.

Download the 2024 form/instructions at IRS.gov/Form990. For help, contact the Exempt Organizations hotline at 877-829-5500. Compliant filing lets your mission shine—without IRS shadows.

Last updated: December 2025. Verify with official IRS sources for tailored advice.

 

IRS Form 1120-REIT – U.S. Income Tax Return for Real Estate Investment Trusts – In the booming real estate sector, Real Estate Investment Trusts (REITs) offer investors diversified exposure to properties like apartments, offices, and data centers—often with attractive yields. But to maintain tax advantages, REITs must file IRS Form 1120-REIT, the “U.S. Income Tax Return for Real Estate Investment Trusts.” If you’re a REIT manager searching for “Form 1120-REIT instructions 2025,” a compliance officer reviewing “REIT distribution requirements 2025,” or an investor auditing “REIT tax filing deadlines,” this SEO-optimized guide provides the essentials. We’ll break down eligibility, step-by-step filing, and 2025 updates like escalated late-filing penalties (up to $510 minimum), helping you ensure 90%+ taxable income distributions and avoid excise taxes under Section 4981.

Sourced from the IRS’s 2024 instructions (applicable to 2025 returns) and draft Form 1120-REIT (Rev. Dec. 2024), this resource aligns with Subchapter M rules. With the March 17, 2026, deadline for calendar-year REITs, accurate filing preserves pass-through status and shields against corporate-level taxes. Let’s invest in compliance.

 

What Is IRS Form 1120-REIT?

Form 1120-REIT is the annual federal tax return for domestic REITs electing treatment under IRC Section 856, enabling them to report real estate income, deductions, credits, and tax liability while claiming a dividends-paid deduction to pass through earnings to shareholders. This form calculates REIT taxable income (RTI), verifies compliance with income/asset tests, and computes taxes on undistributed income or built-in gains.

Key components:

• Pass-Through Mechanism: Distribute 90%+ of RTI to avoid 21% corporate tax; shareholders report dividends on personal returns.
• Schedules: J (tax computation), K (other info), L (balance sheet), M-1 (reconciliation), and attachments like Schedule D for capital gains.
• Excise Tax Tie-In: Links to Form 8612 for the 4% excise on undistributed income if short of 95% of RTI + 97% of capital gains.

For 2025, filers use the 2024 form, incorporating vehicle lease inclusion amounts from Pub. 463. This return isn’t optional—even dormant REITs file to maintain status, potentially saving millions in entity-level taxes through proper distributions.

Who Must File IRS Form 1120-REIT in 2025?

Any domestic corporation, trust, or association electing REIT status must file Form 1120-REIT annually, regardless of income. Election is made via timely filing; once made, it’s irrevocable without IRS consent.

Eligible Entities

Entity Type	Filing Obligation	Key Notes
Equity/Mortgage REITs	Required	Must meet 75%/95% income tests, 75% asset test, and 100+ shareholders.
Hybrid REITs (mixed assets)	Required	Report via Schedules; attach diversification statements.
Controlled Subsidiaries	Parent files consolidated	Use Form 851; subsidiaries report on Schedule K.
Foreign REITs with U.S. Assets	Required if U.S. income	File for effectively connected income; attach Form 1118.
Terminating REITs	Final return marked	Check Item E; attach Form 966.

Exclusions: Non-REIT real estate corps file Form 1120; private REITs still qualify if tests met. E-filing mandatory for 10+ returns annually.

Recent Changes to IRS Form 1120-REIT for Tax Year 2025

The IRS’s 2024 instructions (Rev. Dec. 2024) apply to 2025 filings, with the draft 2025 form available but not required until finalized. No major redesigns, but enhancements focus on penalties and compliance:

• Penalty Increase: For returns due in 2025, the minimum late-filing penalty (>60 days) rises to the smaller of tax due or $510 (from $485), up to 25% of unpaid tax.
• E-Filing Expansion: Mandatory for REITs filing 10+ returns in 2024; supports Modernized e-File (MeF) for faster processing.
• Vehicle Lease Rules: Deduction reductions for terms ≥30 days; inclusion amounts published in early 2025 Internal Revenue Bulletin.
• Distribution No Changes: 90% RTI requirement holds; 4% excise on shortfalls unchanged.
• Post-Release Tweaks: No specific 1120-REIT updates in IRS changes log as of December 2025, but monitor for Section 199A pass-through deductions (20% on qualified REIT dividends, extended post-2025 via OBBBA).

Fiscal REITs use 2024 form for years ending in 2025.

IRS Form 1120-REIT Download and Printable

Download and Print: IRS Form 1120-REIT

Step-by-Step Guide: How to Complete IRS Form 1120-REIT for 2025

Use the 2024 form for 2025; e-file via MeF. Gather financials, shareholder distributions, and asset valuations. Based on 2024 instructions:

Header & Basic Info

• Item A: Year of REIT election.
• Item B: Establishment date.
• Item C: EIN; check for short year.
• Item D: Total assets (year-end).
• Item E: Amended/final return.

Part I: Real Estate Investment Trust Income

• Lines 1-3: Gross rents, other rents, interest from mortgages.
• Lines 4-8: Deductions (interest, taxes, depreciation via Form 4562).
• Line 9: RTI before NOL/dividends-paid.
• Line 10: NOL deduction.
• Line 11: RTI (usually $0 after 90%+ distribution).

Example: $10M rents (Line 1) – $3M expenses (Line 8) = $7M RTI; $6.3M distributed = $0 taxable (Line 11).

Part II: Tax on Termination/Deficiency Dividends

• Lines 1-3: For failure to qualify; tax at 21%.

Schedule J: Tax Computation

• Lines 1-5: RTI tax (Line 11 × 21%).
• Lines 6-12: Credits (Form 3800), alternative minimum, base erosion (Form 8991).
• Lines 13-22: Payments, penalties (Form 2220), refund/due.

Schedule K: Other Information

• Report QOF (Form 8996), controlled groups, 5% owners.

Schedules L & M-1

• L: Balance sheet (book value; quarterly asset tests).
• M-1: Book-to-tax reconciliation.

Filing

• Due: 15th day of 3rd month after year-end (March 17, 2026, calendar); extend via Form 7004 (6 months, pay estimates).
• Where: E-file or mail to Ogden, UT.
• Attachments: Schedule D, Form 2438 (undistributed gains), diversification statement.

Common Mistakes to Avoid When Filing Form 1120-REIT

REIT audits focus on tests and distributions—avoid these:

Mistake	Why It Happens	How to Fix It
Under-Distributing RTI	Miscalculating 90% threshold	Use worksheets; declare January dividends for spillover.
Asset Test Errors	Quarterly lapses in 75% real estate	Value assets at FMV; attach quarterly schedules.
Late E-Filing	Ignoring 10+ return rule	Mandate MeF; monitor via IRS account.
Excise Oversight	Shortfall without Form 8612	Distribute 95%+; elect deficiency dividends.
Income Test Failures	Non-qualifying rents >5%	Segregate TRS income; audit gross rents.

Retain records 7 years; amend via Form 1120X.

Why File Form 1120-REIT Accurately? Real-World Benefits for 2025

A $500M REIT distributing $45M RTI avoids ~$9.45M corporate tax (21% rate), passing savings to shareholders. With 2025’s penalty hikes, timely filing prevents $510+ fines, while proper tests sustain 90%+ yields amid market volatility.

Final Thoughts: Ensure REIT Compliance with Form 1120-REIT in 2025

IRS Form 1120-REIT is vital for tax-efficient real estate investing, but 2025’s e-filing mandates and penalties underscore precision in distributions and tests. Master RTI calculations and quarterly compliance to thrive.

Download the 2024 form/instructions from IRS.gov and consult a REIT tax specialist. For more, explore Pub. 542. Questions on “REIT excise tax 2025“? Comment below!

This article is informational only—not tax advice. Consult a qualified professional for your REIT’s situation.

 

IRS Form 8396 – Mortgage Interest Credit – Owning a home is a milestone, but mortgage interest can strain budgets—especially for first-time buyers. What if you could turn part of that interest into a direct tax credit, reducing your federal bill dollar-for-dollar up to $2,000 annually? IRS Form 8396, the “Mortgage Interest Credit,” makes it possible for eligible homeowners holding a qualified Mortgage Credit Certificate (MCC). If you’re a new buyer searching for “Form 8396 instructions 2025,” a refinancing homeowner wondering about “MCC credit carryforward rules,” or a moderate-income family exploring “mortgage interest tax credit eligibility 2025,” this SEO-optimized guide is your roadmap.

Sourced from the IRS’s official 2025 draft Form 8396 (released August 28, 2025) and instructions, plus Pub. 936 updates, we’ll cover who qualifies, recent tweaks like permanent mortgage deduction caps under the One Big Beautiful Bill Act (OBBBA), and how to file by April 15, 2026. This nonrefundable credit—capped at 20-50% of your certified mortgage interest—could save you thousands over the loan’s life, but it requires reducing your Schedule A deduction. Let’s make homeownership more affordable.

 

What Is IRS Form 8396?

Form 8396 lets holders of a qualified MCC claim a nonrefundable credit for a percentage (typically 20-50%) of mortgage interest paid on their principal residence. Issued by state or local housing finance agencies (HFAs) under IRS-approved programs, the MCC converts part of your interest into a credit, easing the tax burden for low- to moderate-income buyers. Unlike the mortgage interest deduction (which reduces taxable income), this credit directly offsets your tax liability.

For 2025, the form calculates your current-year credit (Part I) and carryforward (Part II), with a $2,000 annual cap. Attach it to Form 1040 or 1040-SR, and report the credit on Schedule 3, Line 5d. If you itemize, subtract the Line 3 amount from your Schedule A interest deduction—even for carried-forward portions. Refinancing? A reissued MCC keeps the benefit alive, but separate calculations apply if rates differ.

This credit, established under IRC Section 25, supports affordable housing without refunds—unused amounts carry forward indefinitely. With home prices rising, it’s a vital tool for 2025 buyers.

Who Is Eligible for the Mortgage Interest Credit on Form 8396 in 2025?

Eligibility hinges on holding a valid MCC and meeting program rules—no MCC means no credit. Programs vary by state, but federal guidelines apply.

Key Requirements

Criterion	2025 Details	Notes
MCC Issuance	From state/local HFA under qualified program	First-time buyers or targeted area purchasers; income ≤ area median (e.g., $70K-$100K family of 4, varies by location).
Residence Use	Principal home; no rentals/vacations	Must live there; exceptions for military/veterans.
Mortgage Type	Acquisition debt only; no related-party loans	Certified indebtedness ≤ $750K (post-2017 loans); interest from Form 1098.
Income Limits	Per HFA; moderate-income focus	E.g., Louisiana: ≤$70K family of 2; check state HFA.
Purchase Price Caps	Varies by area	E.g., $312K in some LA zones; no cap if targeted area.

Exclusions: MCCs from non-qualified programs; homes not used as main residence; refinances without reissuance. Veterans/military may waive first-time buyer rules.

Recent Changes to IRS Form 8396 for Tax Year 2025

The IRS released the 2025 draft Form 8396 on August 28, 2025, with no structural overhauls but alignments to OBBBA and inflation tweaks. Key updates:

• Permanent Deduction Caps: OBBBA locks the $750K mortgage interest deduction limit (post-Dec. 15, 2017 loans) beyond 2025—no sunset.
• PMI as Deductible Interest: Starting 2026, PMI counts as qualified interest (OBBBA); impacts 2025 refinances.
• $2,000 Cap Holds: No inflation adjustment; 20%+ rates capped at $2,000; allocate for co-owners.
• Refinance Reporting: Attach statement for split-year calculations if MCC rates change.
• Program Availability: Some states (e.g., TX) paused standalone MCCs; bundled with DPA where funds allow.

No major rate changes; e-file preferred.

IRS Form 8396 Download and Printable

Download and Print: IRS Form 8396

Step-by-Step Guide: How to Complete IRS Form 8396 for 2025

Gather your MCC, Form 1098, and prior-year Form 8396. Use the 2025 draft; attach to your return. Based on IRS instructions:

Preparation

• Confirm MCC details: Issuer, rate (Line 2), certified amount.
• Calculate certified interest (Line 1): From 1098, prorated if co-owned.

Part I: Current Year Mortgage Interest Credit (Lines 1-9)

• Line 1: Certified indebtedness interest paid (share if co-owned).
• Line 2: MCC credit rate (e.g., 20%).
• Line 3: Multiply Line 1 × Line 2; cap at $2,000 if >20%.
• Line 4: Carryforward from 2024 Form 8396, Line 17.
• Line 5: Add Lines 3 + 4.
• Line 6: Total available (Line 5).
• Line 7: Tax liability limit (from Credit Limit Worksheet: smaller of tax or credits).
• Line 8: Current credit = smaller of Line 6 or 7.
• Line 9: Enter on Schedule 3, Line 5d.

Example: $10,000 interest (Line 1) × 20% (Line 2) = $2,000 (Line 3, capped). +$500 carryforward (Line 4) = $2,500 (Line 6). If tax = $1,800 (Line 7), credit = $1,800 (Line 8).

Part II: Credit Carryforward to 2026 (Lines 10-17)

• Line 10: Line 6 amount.
• Line 11: Larger of Line 8 or other limits.
• Line 12-17: Subtract used credit; remainder carries to 2026.

Filing Tips

• Reduce Schedule A: Subtract Line 3 from interest deduction.
• Due: April 15, 2026; extend via Form 4868.
• E-File/Mail: IRS Free File or to your service center.

Common Mistakes to Avoid When Filing Form 8396

Maximize your credit without IRS notices—here’s a quick table:

Mistake	Why It Happens	How to Fix It
Forgetting Schedule A Reduction	Over-deducting interest	Subtract Line 3 amount; applies even to carryforwards.
Wrong Certified Interest	Using full 1098 amount	Prorate for certified debt/share; exclude points.
Ignoring Refinance Split	Single calc for changed rates	Attach statement with prorated Lines 1-3.
Missing Carryforward	No prior form	Use Line 17 from last year; track annually.
Capping Errors	Exceeding $2,000	Limit Line 3; allocate for co-owners.

Retain MCC/1098 for 3+ years.

Why Claim the Mortgage Interest Credit? Real-World Impact for 2025

A family with a 20% MCC rate and $12,000 annual interest claims $2,000 credit—slashing taxes by that amount, per IRS examples. Over 30 years, that’s $60,000+ in savings, boosting affordability amid 2025’s steady rates. With OBBBA’s permanent caps, it’s a stable benefit for moderate-income buyers.

Final Thoughts: Maximize Your 2025 Savings with IRS Form 8396

IRS Form 8396 transforms mortgage interest into real relief for MCC holders, but eligibility and reductions demand care—especially post-refinance. Check your state’s HFA for programs and file accurately to carry forward unused credits.

Download the 2025 draft from IRS.gov and consult a tax pro for personalized math. For more, explore Pub. 936. Questions on “MCC refinance 2025“? Comment below!

This article is informational only—not tax advice. Consult a qualified professional for your situation.

 

IRS Form 8966 – FATCA Report – In an increasingly interconnected global economy, ensuring compliance with the Foreign Account Tax Compliance Act (FATCA) is non-negotiable for foreign financial institutions (FFIs), withholding agents, and other entities holding U.S. accounts. IRS Form 8966, the “FATCA Report,” is the cornerstone tool for reporting U.S. account holders, substantial U.S. owners of passive non-financial foreign entities (NFFEs), and related details to the IRS—helping combat offshore tax evasion while avoiding 30% withholding on U.S.-source payments. If you’re a compliance officer searching for “Form 8966 instructions 2025,” a FFI executive navigating “FATCA certification deadline 2025,” or a tax advisor tackling “Model 2 IGA reporting updates,” this SEO-optimized guide equips you with everything needed for seamless filing.

Sourced from the IRS’s official 2024 instructions (applicable to 2025 filings, due March 31, 2026) and recent guidance like Notice 2025-50, we’ll cover eligibility, step-by-step completion, and 2025-specific changes such as enhanced penalties and TIN relief extensions. With FATCA certifications due July 1, 2025, for the 2024 period, missing deadlines could cost up to $50,000 per violation—don’t let non-compliance derail your operations. Let’s demystify Form 8966 for tax year 2025.

 

What Is IRS Form 8966?

Form 8966 is the IRS-mandated report under FATCA (IRC Chapter 4) for disclosing information on U.S. reportable accounts, substantial U.S. owners (25%+ ownership) of passive NFFEs, specified U.S. persons holding equity/debt in owner-documented FFIs (ODFFIs), and pooled account data for certain FFIs. This electronic or paper form (five parts) ensures the IRS receives details like account balances, income, and taxpayer identification numbers (TINs), facilitating automatic exchange of information via intergovernmental agreements (IGAs).

Key purposes:

• Prevent Tax Evasion: Tracks U.S. persons’ foreign assets to ensure worldwide income reporting.
• Avoid Withholding: Compliant FFIs dodge 30% FATCA withholding on withholdable payments (e.g., U.S. dividends, interest).
• IGA Alignment: Supports Model 1 (report to local authority) and Model 2 (direct to IRS) frameworks.

For 2025, filers use the 2024 form version (Rev. Dec. 2024), with submissions via the International Data Exchange Service (IDES). It’s not for U.S. taxpayers (they file Form 8938); instead, it’s FFIs’ responsibility. Non-filers risk GIIN revocation and penalties starting at $10,000.

Who Must File IRS Form 8966 in 2025?

Form 8966 is required for entities under FATCA’s Chapter 4 status, excluding those solely under Model 1 IGAs (they report locally). File a separate form per U.S. owner, account, or pool.

Eligible Filers

Filer Type	Filing Requirement	Key Notes
Participating FFIs (PFFIs)	Required for U.S. accounts	Report individual accounts >$50K (preexisting) or $0 (new); pooled for non-U.S.
Reporting Model 2 FFIs	Required for U.S. accounts and non-consenting pools	Direct IRS filing; align with IGA dates
Sponsoring Entities	Required for Sponsored FFIs/NFFEs	Report on behalf of sponsored entities
Direct Reporting NFFEs	Required for substantial U.S. owners	Per passive NFFE with 25%+ U.S. ownership
Withholding Agents	Required for ODFFIs	Report specified U.S. persons’ interests

Exclusions: Model 1 FFIs (local reporting); U.S. branches of FFIs (use Form 1042-S). Thresholds: No minimum account value for new accounts post-2014.

IRS Form 8966 Download and Printable

Download and Print: IRS Form 8966

Recent Changes to IRS Form 8966 for 2025

The IRS’s 2024 instructions (Rev. Dec. 2024) apply to 2025 filings, with no form redesign but procedural and penalty updates amid global enforcement:

• Filing Deadline Confirmation: For 2025 calendar year, due March 31, 2026; automatic 90-day extension via Form 8809-I.
• Certification Deadline: FATCA Responsible Officer certifications for 2024 period due July 1, 2025; new login via Login.gov/ID.me.
• TIN Relief Extensions: France extends U.S. TIN relief to 2027; deadlines shifted to July 15, 2025, for some IGAs.
• Penalty Enhancements: Late filings within 30 days: $60; after August 1: $330; intentional: $660 per return. Up to $50,000 for errors/delays; higher scrutiny on high-volume filers.
• Digital Asset Expansion: FY2025 Greenbook proposes digital brokers report substantial foreign owners of passive entities holding crypto, raising $3.49B (2025-2034).
• Global Alignment: OECD/CRS updates broaden scope; Switzerland/Finland deadlines June 30/January 31, 2025.

No post-release changes to Form 8966 per IRS updates as of November 2025.

Step-by-Step Guide: How to Complete IRS Form 8966 for 2025

Use the 2024 form; e-file via IDES (Pub. 5124). Gather GIIN, account data, and TINs. Complete only relevant parts.

Part I: Filer Information

• Line 1a: Name, address, country.
• Line 1b: Chapter 4 status (e.g., PFFI: 01; Model 2: 02).
• Line 1c: GIIN; optional 3-digit ID for paper filers.

Part II: Reporting Financial Institution Identifying Information

• For Sponsored/Direct Reporting NFFEs: Entity name, GIIN, filer category.

Part III: Specified U.S. Person

• For ODFFIs: U.S. person’s name, address, TIN, account balance, income.

Part IV: Substantial U.S. Owners of Passive NFFEs

• Owner details: Name, address, TIN, ownership %; separate form per owner.

Part V: Pooled Reporting Information

• For FFIs: Aggregate U.S./non-U.S. accounts by pool (e.g., $0-$50K, >$1M); number of accounts, total value, gross dividends/interest.

Example: A PFFI with 100 U.S. accounts ($0-$50K pool, total $2M balance, $50K dividends): Enter pool code 01, 100 accounts, $2M value, $50K income on Part V.

Filing

• Due: March 31, 2026; extend to June 30 via Form 8809-I (mail to Austin, TX).
• E-File: Mandatory for >250 forms; paper to Ogden, UT.
• Corrections: Amended returns with “Corrected” box checked.

Common Mistakes to Avoid When Filing Form 8966

FATCA audits are rising—sidestep these with diligence:

Mistake	Why It Happens	How to Fix It
Missing GIIN/TIN	Incomplete due diligence	Validate via IRS FFI List; use relief if unavailable.
Incorrect Pooling	Misclassifying accounts	Follow Part V codes; aggregate only permitted pools.
Late Certification	Forgetting July 1, 2025, deadline	Use Login.gov; certify annually for compliance.
Paper Filing Errors	No 3-digit ID	Assign unique number per form.
Ignoring Digital Assets	Overlooking Greenbook proposal	Prepare for 2025 broker reporting on crypto entities.

Retain records 6 years; amend promptly.

Why File Form 8966 Accurately? Real-World Impact for 2025

A mid-sized FFI with 1,000 U.S. accounts avoids $300K+ in withholding by compliant reporting, per IRS estimates. With 2025’s TIN extensions and penalty hikes, precision prevents GIIN loss and fines up to $50K—vital amid OECD/CRS expansions.

Final Thoughts: Achieve FATCA Compliance with Form 8966 in 2025

IRS Form 8966 is your gateway to FATCA adherence, but 2025’s deadlines (March 31, 2026, filing; July 1, 2025, certification) and global tweaks demand proactive steps. By mastering filer categories, pooling, and extensions, you’ll safeguard operations.

Download the 2024 form/instructions from IRS.gov and consult a FATCA specialist. For more, explore Pub. 5118 or our Form 8938 guide. Questions on “FATCA penalties 2025“? Comment below!

This article is informational only—not tax advice. Consult a qualified professional for your situation.