What is Form 8979?
Form 8979 is essential for partnerships needing to update their designated tax representative with the IRS. This form allows partnerships to revoke, resign, or appoint a new partnership representative responsible for handling tax matters. Accurate completion and submission of Form 8979 ensure the IRS has the correct information regarding who manages the partnership's tax responsibilities. Neglecting this important step can result in penalties and legal complications, making it vital for partnerships to stay compliant with IRS regulations.
What is Form 8979 used for?
Form 8979 is important for managing partnership representatives. It is used for the following purposes:
- Revoking a partnership representative or designated individual
- Resigning as a partnership representative or designated individual
- Designating a new partnership representative where none is in effect
- Changing the partnership representative due to IRS notifications or administrative adjustments
How to fill out Form 8979?
- 1
Check the box in Part I to indicate if you're revoking, resigning, or designating a partnership representative.
- 2
Enter the partnership’s name, address, EIN, and tax year ending date.
- 3
Check the boxes to revoke the current representative and appoint a successor if needed.
- 4
Verify that both the partnership representative and designated individual have a U.S. street address, phone number, and TIN.
- 5
Mail or fax Form 8979 to the IRS point of contact as required.
Who is required to fill out Form 8979?
Partnerships and their representatives are responsible for completing Form 8979. This includes those revoking or resigning as a partnership representative, or designating a new representative.
After the form is completed, it is submitted by the partnership representative or designated individual to the IRS for specific situations, ensuring compliance with tax regulations.
When is Form 8979 not required?
Form 8979 isn't required if the partnership hasn't received IRS notification to make a change, such as Letters 2205-D, 5893, or 5893-A. It's also unnecessary if the partnership opted out of Bipartisan Budget Act procedures or has fewer than 100 partners without direct partners that are partnerships, trusts, or disregarded entities.
When is Form 8979 due?
The deadline for Form 8979 is typically by the end of the partnership's tax year. It is due when the IRS issues specific notices, such as Letter 2205-D, Letter 5893, or Letter 5893-A, or with an administrative adjustment request for reasons other than revocation. Ensure timely submission to avoid penalties.
How to get a blank Form 8979?
To get a blank Form 8979, simply visit our website. The Internal Revenue Service (IRS) issues this form, and we have a blank version pre-loaded in our editor, ready for you to fill out. Remember, our platform helps with filling and downloading but not filing forms.
How to sign Form 8979?
To sign Form 8979, you must provide a handwritten signature in the designated sections, along with the date. The official instructions do not accept electronic or digital signatures, so ensure you complete this step manually. After filling out the form using PDF Guru, download it for your records. Remember to check for the latest updates regarding any changes to the signing process. PDF Guru assists with filling out and downloading the form, but it does not support submission.
Where to file Form 8979?
To submit Form 8979, send it directly to your IRS point of contact, like a revenue agent or appeals officer. You can choose to mail or fax the form.
If you're filing it with an administrative adjustment request, follow the specific AAR submission guidelines. For more details, check the IRS website.
