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Form 872 online Chattanooga Tennessee: What You Should Know
This extended statute of limitations, is called the Statute of Limitations. With Form 872, all the tax debt is waived and the tax can be assessed without any further action upon the taxpayer. A Form 872 must usually be completed and filed prior to filing your tax return, even if you have paid all your tax payments. (Taxpayers should complete Form 8872 if a delinquent tax is pending.) If a taxpayer owes less than 100 of tax in the current year, but has a statute of limitations on payment of tax and has not received a tax refund for the tax year, the taxpayer may file Form 872 form in order to extend the time to assess the delinquent tax, as described in the Taxpayer Statute Exception in IRS Publication 16, Form 872. Why is Form 872 so Important? There are several reasons that a taxpayer may want to use a Form 872 and then need to file a tax return. The tax debt may have been forgiven. The taxpayer may need to file a tax return because of an audit of a potential claim of “unearned income” or a tax refund. The taxpayer does not know where his/her tax return has been accepted. How to use Form 872 online. (1) Fill out the form (on screen), then click the 'submit' button and file your tax return to the next 5 business days. (For your convenience, you may save your completed tax return) (2) After your tax return is approved, you will receive a notification from the IRS informing you that it has reviewed your tax account on your tax return and has received additional information or additional information that requires further review. (For example, if more information regarding the nature of a potential tax liability is received after the expiration of the 5 business day period, that would require more detailed review during the 30-day period preceding the close of the 15 business day period or the 60-day period preceding the close of the 30-day period.) (3) If the Taxpayer Statute Exception is applicable, you will soon receive a letter from the IRS providing you with additional information on the tax exception. You may then schedule an appointment with your certified representative to discuss the matter. (For your convenience, a pre-screened agent may be identified at the front of the line.
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