Information about Form 8752, Required Payment or Refund Under Section 7519, including recent updates, related forms and instructions on how to file. Partnerships and S corporations use Form 8752 to figure and report the payment required under section 7519 or to obtain a refund of net prior year payments.

2020年4月2日 · Fiscal-year tax filers should be aware that the Section 7519 required payments were not extended under IRS Notice 2020-18. Section 7519 payments are required for all partnerships and S corporations that have made an election under Section 444 to have a tax year other than the required year.

In the case of a partnership, net income shall be the amount (not below zero) determined by taking into account the aggregate amount of the partnership’s items described in section 702 (a) (other than credits and tax-exempt income).

Purpose of form. Partnerships and S corporations use Form 8752 to figure and report the payment required under section 7519 or to obtain a refund of net prior year payments. Section 7519 payments are required of any partnership or S corporation that has elected under section 444 to have a tax year other than a required tax year.

An alternative to using a permitted year is provided by two Code sections dealing with fiscal years—Secs. 444 and 7519. Sec. 444 allows an S corporation to elect to use a fiscal year if it meets certain criteria. Sec. 7519 states that the entity must make required payments if it elects a fiscal year under Sec. 444.

As further explained below, § 7519 compensates the government for the lost time value of money when taxes are deferred under § 444. To maintain a valid § 444 election, a partnership or an S corporation is obligated to make the required payments imposed by § 7519. The entity must both file a Form 8752, Required Payment or Refund Under

Partnerships and S corporations use Form 8752 to figure and report the payment required under section 7519 or to obtain a refund of net prior year payments. Section 7519 payments are required of any partnership or S corporation that has elected under section 444 to have a tax year other than a required tax year.

§7519. Required payments for entities electing not to have required taxable year (a) General rule. This section applies to a partnership or S corporation for any taxable year, if-(1) an election under section 444 is in effect for the taxable year, and

Required Payments For Entities Electing Not To Have Required Taxable Year. This section applies to a partnership or S corporation for any taxable year, if-- an election under section 444 is in effect for the taxable year, and. the required payment determined under subsection (b) for such taxable year (or any preceding taxable year) exceeds $500.

2023年8月27日 · Sec. 7519 Required payments for entities electing not to have required taxable year