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Federal Free Printable Form 8923 (Rev. February 2018) for 2020 Federal Mine Rescue Team Training Credit

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Mine Rescue Team Training Credit
Form 8923 (Rev. February 2018)

Caution: The form, instruction, or publication you are looking for begins on the next page. But first see the important information below. This form, instruction, or publication is being revised to reflect legislation enacted December 20, 2019. The updated revision will be posted here as soon as possible. We apologize for the delay and inconvenience. The most recently issued final revision begins on the next page, but, again, is being updated to reflect recent legislation. Early release drafts of forms and instructions (and some pubs) are posted before the final release at IRS.gov/DraftForms (note that they remain there after the final release is. The most recently issued final revision of forms, instructions, and publications is posted at www.irs.gov/LatestForms and at www.irs.gov/AllForms, which has revisions for all years each form, instruction, or pub has been issued. Almost every form and publication has a page on IRS.gov with a friendly shortcut. For example, the Form 1040 page is at IRS.gov/Form1040; the Pub. 501 page is at IRS.gov/Pub501; the Form W-4 page is at IRS.gov/W4; and the Schedule A (Form 1040 or 1040-SR) page is at IRS.gov/ScheduleA. (If typing in a link above instead of clicking on it, be sure to type the link into the address bar of your browser, not a Search box.) Note that instructions and publications are available from these pages in PDF for printing, HTML for viewing online, and in many cases, in eBook format for mobile viewing (see www.irs.gov/eBook for more details). If you wish, you can submit comments to the IRS about draft or final forms, instructions, or publications at IRS.gov/FormComments. We cannot respond to all comments due to the high volume we receive and may not be able to consider many suggestions until the subsequent revision of the product. All information about all forms, instructions, and pubs is at IRS.gov/Forms. Form 8923 (Rev. February 2018) Department of the Treasury Internal Revenue Service Name(s) shown on return 1 Mine Rescue Team Training Credit OMB No. 1545-0123 Attach to your tax return. ▶ Go to www.irs.gov/Form8923 for the latest information. ▶ Identifying number Total training program costs of qualified mine rescue team employees paid or incurred during the tax year (up to $50,000 per qualified employee) . . . . . . . . . . . . . . . . 1 2 Multiply line 1 by 20% (0.20). See instructions for the adjustment you must make . . . . . 2 3 Mine rescue team training credit from partnerships and S corporations (see instructions) . . . . 3 4 Add lines 2 and 3. Partnerships and S corporations, report this amount on Schedule K. All others, report this amount on Form 3800, Part III, line 1u . . . . . . . . . . . . . . . . . 4 For Paperwork Reduction Act Notice, see instructions. Cat. No. 37735E . Form 8923 (Rev. 2-2018) Page 2 Form 8923 (Rev. 2-2018) General Instructions Specific Instructions Section references are to the Internal Revenue Code unless otherwise noted. Line 2 For the latest information about developments related to Form 8923 and its instructions, such as legislation enacted after they were published, go to www.irs.gov/Form8923. In general, you must reduce your allowable training program costs by the amount on line 2. This is required even if you cannot take the full credit this year and must carry part of it back or forward. If you capitalized any costs included on line 1, reduce the amount capitalized by the credit on line 2 attributable to these costs. Purpose of Form Line 3 Taxpayers who employ individuals as miners in U.S. underground mines use Form 8923 to claim the mine rescue team training credit. This credit applies to training program costs paid or incurred for qualified mine rescue team employees. This credit expired for tax years beginning after 2017. To find out if the mine rescue team training credit is extended beyond 2017, go to www.irs.gov/Form8923. Enter the total mine rescue team training credit from: Future Developments Definitions Training program costs. Taxpayers who employ individuals as miners in U.S. underground mines can claim a credit of 20% of the training program costs paid or incurred during the tax year for training of qualified mine rescue team employees. The maximum amount of training program costs that may be taken into account annually for each qualified employee is $50,000. The training costs include wages paid or incurred while the qualified employee is attending a training program. Qualified employee. A qualified mine rescue team employee is any full-time employee of the taxpayer who is a miner eligible to serve for more than 6 months of the year as a mine rescue team member. The employee must have completed, at a minimum, an initial 20-hour course of instruction, as prescribed by the Mine Safety and Health Administration's Office of Educational Policy and Development, or received at least 40 hours of refresher training in such instruction. See 30 CFR section 49.8 for refresher training requirements. Wages. Wages qualifying for the credit generally have the same meaning as wages subject to the Federal Unemployment Tax Act (FUTA), but without regard to any dollar limit. • Schedule K-1 (Form 1065), Partner’s Share of Income, Deductions, Credits, etc., box 15 (code P); or • Schedule K-1 (1120S), Shareholder’s Share of Income, Deductions, Credits, etc., box 13 (code P). Partnerships and S corporations must always report the above credit on line 3. All other filers can report the above credits directly on Form 3800, Part III, line 1u, and do not need to file this form. 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.
Extracted from PDF file 2019-federal-form-8923.pdf, last modified January 2020

More about the Federal Form 8923 Other Tax Credit TY 2019

We last updated the Mine Rescue Team Training Credit in February 2020, so this is the latest version of Form 8923, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form 8923 directly from TaxFormFinder. You can print other Federal tax forms here.

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Form Sources:

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 8923 from the Internal Revenue Service in February 2020.

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Form 8923 is a Federal Other 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.

Historical Past-Year Versions of Federal Form 8923

We have a total of seven past-year versions of Form 8923 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:

2019 Form 8923

Form 8923 (Rev. February 2018)

2018 Form 8923

Form 8923 (Rev. February 2018)

2017 Form 8923

Form 8923 (Rev. January 2016)

2016 Form 8923

Form 8923 (Rev. January 2016)

Mine Rescue Team Training Credit 2015 Form 8923

Form 8923 (Rev. January 2016)

Mine Rescue Team Training Credit 2012 Form 8923

Form 8923 (Rev. December 2012)

Mine Rescue Team Training Credit 2011 Form 8923

Form 8923 (Rev. December 2010)

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