Jun 21, 2024 · Use this form to report and pay the 40% excise tax imposed under Internal Revenue Code section 5891 on the factoring discount of a structured settlement factoring transaction. File a separate Form 8876 for each date on which you received structured settlement payment rights in one or more structured settlement factoring transactions.

File Form 8876 by the 90th day following the receipt of structured settlement payment rights in a structured settlement factoring transaction. If you need more time, file Form 7004, Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns, by the due date of Form 8876. Form 7004 does not

Form 8879 is used to authorize the electronic filing (e-file) of original and amended returns. Use this Form 8879 (Rev. January 2021) to authorize e-file of your Form 1040, 1040-SR, 1040-NR, 1040-SS, or 1040-X, for tax years beginning with 2019. Purpose of Form Form 8879 is the declaration document and signature authorization for an e-filed return

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General Instructions Purpose of Form Use Form 8876 to report and pay the 40% excise tax imposed under section 5891 on the factoring discount of a structured settlement factoring transaction. File a separate Form 8876 for each date on which you received structured settlement payment rights in one or more structured settlement factoring transactions.

May 23, 2003 · [1] The IRS has released new Form 8876, Excise Tax on Structured Settlement Factoring Transactions. Use Form 8876 to report and pay the 40% excise tax imposed under section 5891 on the factoring discount. [2] You can obtain Form 8876 by telephone or by using IRS electronic information services.

Form 8876 is used to report and pay the 40% excise tax imposed under section 5891 on the factoring discount of a structured settlement factoring transaction. The latest form for Excise Tax on Structured Settlement Factoring Transactions …

Mar 31, 2025 · IRS Form 8876 is used to report and pay the 40% excise tax. Exceptions to the tax requirement exist. To qualify for an exception, purchasers have to follow specific rules, which include obtaining court approval.

Feb 13, 2019 · Form Number: 8876. Abstract: Form 8876 is used to report structured settlement transactions and pay the applicable excise tax. Current Actions: There are no changes in the paperwork burden previously approved by OMB. Type of Review: Extension of a currently approved collection.

Use Form 8876 to report and pay the 40% excise tax imposed under section 5891 on the factoring discount of a structured settlement factoring transaction. File a separate Form 8876 for each date on which you received structured settlement payment rights in one or more structured settlement factoring transactions. General Instructions