Get 8970 Tax Form

If an employer withholds certain federal taxes, such as social security tax or Medicare tax from the employee's income, the same must be reported on Form 941. Additionally, employers are also required to pay the employer's share of the social security and Medicare tax on Form 941.

Wouldn't a Roth IRA be included in the IRD exception to requirements for listing on Schedule A of Form 8971? No, because IRS Letter Rulings and Revenue Rulings indicate that an investment in a contract is not IRD.

If a taxpayer opts to paper file a tax return, or the return is unable to be e-filed, the preparer must include a Form 8948, Preparer Explanation for Not Filing Electronically, with the paper filed submission.

Executors of estates filing Form 8971 are required to complete a Schedule A for each beneficiary that acquired (or is expected to acquire) property from the estate. You will need a copy of the Form 706 or Form 706-NA filed by the estate of the decedent to complete this schedule.

If someone else enrolled a member of your family in Marketplace health insurance coverage with APTC and you claim the family member on your tax return, you are required to complete Form 8962 and attach it to your return.

Form 8962 is a form you must file with your federal income tax return for a year if you received an advanced premium tax credit through the Marketplace during that year.

In general, it is very important to file your federal tax return with Form 8962 for any year you received an advanced premium tax credit. If you don't file Form 8962, the IRS will call this a failure to reconcile, and you could be prevented from applying for Marketplace premium tax credits in the future.

Form 8948 is used only by specified tax return preparers (defined below) to explain why a particular return is being filed on paper. A specified tax return preparer may be required by law to electronically file (e-file) certain covered returns (defined below).