For tax year 2023, Form 3800 is undergoing a major IRS rewrite that expands the form to 8 pages. This form is still in development, pending a future release. Form 1120S and 1065 filers that require Form 3800 may want to consider filing extensions.
New for tax year 2023:
- Pre-filing registration requirement. If you intend to make an elective payment election and/or a transfer election on Form 3800, you must complete a pre-filing registration before you file your tax return.
- Elective payment election. Beginning with tax year 2023, certain applicable entities and electing taxpayers can elect to treat certain IRA 2022 business credits as elective payments. Certain eligible taxpayers can elect to treat CHIPS 2022 credits as elective payments. Any overpayments may result in refunds.
- Transferring credits. Taxpayers may make an election to transfer all or a portion of certain IRA 2022 credits.
- See IRS instructions for 3800 for more information.
Select the links below to see solutions for frequently asked questions concerning Form 3800 in a Fiduciary return.