PDF
Word
This version of the form is not currently in use and is provided for reference only. Download this version of
Instructions for IRS Form 8991
for the current year.
Instructions for IRS Form 8991 Tax on Base Erosion Payments of Taxpayers With Substantial Gross Receipts
This document contains official instructions for IRS Form 8991 , Tax on Base Erosion Payments of Taxpayers With Substantial Gross Receipts - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury. An up-to-date fillable IRS Form 8991 is available for download through this link.
FAQ
Q: What is IRS Form 8991?
A: IRS Form 8991 is a tax form used to calculate the tax on base erosion payments of taxpayers with substantial gross receipts.
Q: Who needs to file IRS Form 8991?
A: Taxpayers with substantial gross receipts who made payments to foreign related parties that result in base erosion payments need to file IRS Form 8991.
Q: What are base erosion payments?
A: Base erosion payments refer to payments made to foreign related parties that may erode the US tax base.
Q: What is the purpose of IRS Form 8991?
A: The purpose of IRS Form 8991 is to calculate the tax liability on base erosion payments and determine the applicable percentage of the modified taxable income.
Q: When is the deadline to file IRS Form 8991?
A: The deadline to file IRS Form 8991 is generally the same as the taxpayer's annual income tax return, which is typically April 15th of the following year.
Q: Are there any penalties for not filing IRS Form 8991?
A: Yes, there may be penalties for failing to file IRS Form 8991, including potential interest charges on any tax owed.
Q: Is there any assistance available for completing IRS Form 8991?
A: Yes, the IRS provides instructions and guidance for completing IRS Form 8991, and taxpayers may also seek the assistance of a tax professional.
Q: Can IRS Form 8991 be filed electronically?
A: Yes, IRS Form 8991 can be filed electronically using approved tax software or through the IRS e-file system.
Q: Can I amend my IRS Form 8991 if I made a mistake?
A: Yes, if you made a mistake on the original IRS Form 8991, you can file an amended form by submitting IRS Form 8991-X.
Instruction Details:
- This 9-page document is available for download in PDF;
- Actual and applicable for filing 2023 taxes;
- Complete, printable, and free.
Download your copy of the instructions by clicking the link below or browse hundreds of other forms in our library of IRS-released tax documents.
Download Instructions for IRS Form 8991 Tax on Base Erosion Payments of Taxpayers With Substantial Gross Receipts
1
2
3
4
5
6
7
8
9
