Federal Credit for Prior Year Minimum Tax - Corporations
Extracted from PDF file 2019-federal-form-8827.pdf, last modified January 2020
Credit for Prior Year Minimum Tax - CorporationsForm 8827 Credit for Prior Year Minimum Tax—Corporations Department of the Treasury Internal Revenue Service ▶ 2019 ▶ Attach to the corporation’s tax return. Go to www.irs.gov/Form8827 for the latest information. Employer identification number Name 1 2 3 4 5a OMB No. 1545-0123 1 2 3 4 Minimum tax credit carryforward from 2018. Enter the amount from line 9 of the 2018 Form 8827 . . Enter the corporation’s 2019 regular income tax liability minus allowable tax credits (see instructions) Enter the refundable minimum tax credit (see instructions) . . . . . . . . . . . . . . . Add lines 2 and 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . Enter the smaller of line 1 or line 4. If the corporation had a post-1986 ownership change or has pre-acquisition excess credits, see instructions . . . . . . . . . . . . . . . . . . 5a b Current year minimum tax credit. Enter the smaller of line 1 or line 2 here and on Form 1120, Schedule J, Part I, line 5d (or the applicable line of your return). If the corporation had a post-1986 ownership change or has pre-acquisition excess credits, see instructions. If you made an entry on line 3, go to line 5c. Otherwise, skip line 5c . . . . . . . . . . . . . . . . . . . . . 5b c 6 Subtract line 5b from line 5a. This is the current year refundable minimum tax credit. Include this amount on Form 1120, Schedule J, Part III, line 20c (or the applicable line of your return) . . . . Minimum tax credit carryforward to 2020. Subtract line 5a from line 1. Keep a record of this amount to carry forward and use in future years . . . . . . . . . . . . . . . . . . . 5c 6 Instructions Who Should File Line 3 Section references are to the Internal Revenue Code unless otherwise noted. Form 8827 should be filed by corporations that had a minimum tax credit carryover from 2018 to 2019. Purpose of Form Line 2 The minimum tax credit limitation is increased by the AMT refundable credit amount. The portion of the credit treated as refundable is 50% of the excess of minimum tax credits available over the 2019 regular tax liability. Complete the Worksheet for Calculating the Refundable Minimum Tax Credit Amount, later in the instructions. Enter the amount from line 4 of the worksheet on Form 8827, line 3. Corporations use Form 8827 to figure the minimum tax credit, if any, for AMT incurred in prior tax years, the refundable AMT credit amount, and to figure any minimum tax credit carryforward. Enter the corporation’s 2019 regular income tax liability, as defined in section 26(b), minus any credits allowed under Chapter 1, Subchapter A, Part IV, subparts B, D, E, and F of the Internal Revenue Code (for example, if filing Form 1120, subtract any credits on Schedule J, Part I, lines 5a through 5c, from the amount on Schedule J, Part I, line 2). For Paperwork Reduction Act Notice, see instructions. Cat. No. 13008K Note: A corporation with a short tax year (less than 12 months) must prorate the refundable credit based on the number of days in their tax year. See section 53(e)(4). Form 8827 (2019) Page 2 Form 8827 (2019) Worksheet for Calculating the Refundable Minimum Tax Credit Amount. See instructions. Keep for your records. 1 Minimum tax credit carryforward from 2018. Enter the amount from line 9 of the 2018 Form 8827 . . 1 2 Enter the corporation’s 2019 regular tax minus allowable credits (see instructions for Form 8827, line 2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Subtract line 2 from line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Refundable minimum tax credit. Multiply line 3 by 50% (0.50). Enter this amount on Form 8827, line 3 4 Line 5 If the corporation had a post-1986 ownership change (as defined in section 382(g)), there may be a limit on the amount of pre-change minimum tax credits that can be applied against the corporation’s tax for any tax year ending after the ownership change. See section 383 and the related regulations. To figure the amount of the pre-change credit, the corporation must allocate the credit for the change year between the pre-change period and the post-change period. The corporation must use the same method of allocation (ratable allocation or closing-of-the-books) for purposes of sections 382 and 383. See Regulations section 1.382-6 for details. Also, there may be a limit on the use of pre-acquisition excess credits of one corporation to offset the tax attributable to recognized built-in gains of another corporation. See section 384 for details. If either limit applies, attach a computation of the allowable minimum tax credit, enter the amount on lines 5a and 5b, and write “Sec. 383” or “Sec. 384” on the dotted line to the left of the line 5a and 5b entry spaces. Paperwork Reduction Act Notice. We ask for the information on this form to carry out the Internal Revenue laws of the United States. You are required to give us the information. We need it to ensure that you are complying with these laws and to allow us to figure and collect the right amount of tax. You are not required to provide the information requested on a form that is subject to the Paperwork Reduction Act unless the form displays a valid OMB control number. Books or records relating to a form or its instructions must be retained as long as their contents may become material in the administration of any Internal Revenue law. Generally, tax returns and return information are confidential, as required by section 6103. The time needed to complete and file this form will vary depending on individual circumstances. The estimated burden for business taxpayers filing this form is approved under OMB control number 1545-0123 and is included in the estimates shown in the instructions for their business income tax return. If you have comments concerning the accuracy of these time estimates, or suggestions for making this form simpler, we would be happy to hear from you. See the instructions for the tax return with which this form is filed.
2019 Form 8827
More about the Federal Form 8827 Corporate Income Tax Tax Credit
Corporations use this form to figure the minimum tax credit, if any, for alternative minimum tax (AMT) incurred in prior tax years and to figure any minimum tax credit carry forward.
We last updated the Credit for Prior Year Minimum Tax - Corporations in February 2020, and the latest form we have available is for tax year 2019. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Federal Internal Revenue Service. You can print other Federal tax forms here.
Other Federal Corporate Income Tax Forms:
The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal Form 8827 from the Internal Revenue Service in February 2020.
Form 8827 is a Federal Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Federal Form 8827
We have a total of eight past-year versions of Form 8827 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
While we do our best to keep our list of Federal Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.