IRS Form 843

Form 843 is an IRS form used for requesting a refund or abatement of taxes. It is filed by taxpayers who have overpaid taxes, received excessive refunds, or need to request a tax credit. The form must be filled out in full and signed by the taxpayer or their authorized representative.

The information needed to fill out the form includes the taxpayer's name, address, Social Security Number, and the tax year for which the refund or abatement is being claimed. Additional information, such as the amount of the refund or tax credit being claimed, must also be included.

Once the form is submitted, the IRS will review the claim and process the refund or abatement as soon as possible.

Failing to file Form 843 accurately and in a timely manner can result in a penalty of up to 25% of the amount of the refund being claimed. Additionally, the IRS may impose a penalty for failure to pay tax when due, even if the taxpayer is due a refund. The penalty for this is usually 0.5% of the unpaid tax per month, up to 25% of the unpaid tax. It is important to ensure that the form is filled out accurately and in a timely manner to avoid any penalties.

Submitting Form 843 can help taxpayers get a refund of taxes, penalties, and interest that they have overpaid or been incorrectly charged. It can also help taxpayers receive credit for taxes that were paid on time but not credited. Additionally, filing Form 843 can help taxpayers avoid any penalties for failure to pay taxes when due.