2010-2025 Form

What is the Form 966

Form 966 is a tax document used by corporations in the United States to formally dissolve or liquidate their business. This form notifies the Internal Revenue Service (IRS) of the corporation's intention to cease operations and provides essential information regarding the dissolution process. It is crucial for ensuring that all tax obligations are settled before the business is officially closed.

How to use the Form 966

To use Form 966, a corporation must fill out the required sections accurately, providing details such as the corporation's name, address, and Employer Identification Number (EIN). The form must be signed by an authorized officer of the corporation, confirming that the information provided is correct. Once completed, it should be submitted to the IRS as part of the dissolution process, ensuring that the corporation's tax responsibilities are addressed.

Steps to complete the Form 966

Completing Form 966 involves several key steps:

• Gather necessary information about the corporation, including its legal name, address, and EIN.
• Fill out the form, ensuring that all required fields are completed accurately.
• Obtain the signature of an authorized officer, verifying the accuracy of the information provided.
• Submit the completed form to the IRS, along with any required documentation related to the dissolution.

Legal use of the Form 966

The legal use of Form 966 is essential for corporations wishing to dissolve their business in compliance with IRS regulations. Proper completion and submission of this form help prevent future tax liabilities and ensure that the dissolution process is recognized legally. Failure to file the form correctly may result in penalties or complications during the dissolution process.

Filing Deadlines / Important Dates

Corporations must be aware of specific filing deadlines when submitting Form 966. Generally, the form should be filed within thirty days after the resolution to dissolve the corporation has been adopted. Adhering to this timeline is crucial to avoid potential penalties and ensure that the dissolution is processed smoothly.

Required Documents

When filing Form 966, corporations may need to provide additional documentation to support their dissolution. This can include:

• A copy of the resolution or plan of liquidation adopted by the corporation.
• Any relevant tax returns or documents that demonstrate compliance with tax obligations.
• Additional forms that may be required by state authorities, depending on the jurisdiction.

Form Submission Methods

Form 966 can be submitted to the IRS through various methods. Corporations may choose to file the form electronically or via traditional mail. It is important to check the latest IRS guidelines for any updates on submission methods and to ensure that the form is sent to the correct address based on the corporation's location.