The title of Form 982 is "Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment)." It is used to exclude income from the cancellation of debt under bankruptcy, insolvency or other sections of the U.S. Tax Code, according to Internal Revenue Service Publication 4681.
When a debt is cancelled or forgiven for less than its full amount, the debtor is treated as having income and may have to pay tax on it. Under some circumstances, this income can be excluded from taxation. If the taxpayer excludes income from cancelled debt, he may be required to adjust other tax attributes such as certain credits, losses or basis of assets. Form 982 is used to report this as well.Learn More
The correct address depends where the business is located and whether payment is included. Businesses located in the eastern half of the country send everything to Cincinnati, Ohio. Those in the western half send forms alone to Odgen, Utah, and forms with payment to Hartford, Conn.Full Answer >
The general mailing address for IRS Form 941 is the Internal Revenue Service, P.O. Box 409101, Ogden, UT 84409, according to the Internal Revenue Service. For specific addresses, individuals mailing from most states east of the Mississippi River should send Form 941 to the Internal Revenue Service in Cincinnati, Ohio.Full Answer >
As of 2014, eight different IRS Service Centers receive 1040 forms filed by taxpayers and tax professionals, including addresses in Missouri, Texas, California, Kentucky, North Carolina, Ohio and Connecticut. Residents who file Form 1040 send this document to a particular service center based on the state in which they live. Street addresses are not needed on envelopes.Full Answer >
The Internal Revenue Service (IRS) Form 147c is not a form that taxpayers have to file. Rather, it is a form or letter the IRS supplies to taxpayers upon request. Form 147c confirms a business owner's taxpayer identification number (TIN) or employer identification number (EIN) with the business name.Full Answer >