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Federal Free Printable Form 973 (Rev. November 2016) for 2024 Federal Corporation Claim for Deduction for Consent Dividends

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Corporation Claim for Deduction for Consent Dividends
Form 973 (Rev. November 2016)

Form 973 Corporation Claim for Deduction for Consent Dividends (Rev. November 2016) Department of the Treasury Internal Revenue Service ▶ Information For tax year beginning , 20 , and ending , 20 . Employer identification number Name of corporation Class of stock OMB No. 1545-0123 (Under Section 561 of the Internal Revenue Code) about Form 973 and its instructions is at www.irs.gov/form973. Number of shares outstanding on first day of tax year Number of shares outstanding on last day of tax year Description of dividend rights Actual distributions per share made in tax year* * If a distribution was not made on all shares of any class, describe any unequal treatment: Describe any other changes in outstanding stock during the tax year: (Use more sheets if necessary.) For Paperwork Reduction Act Notice, see back of form. Cat. No. 17059P Form 973 (Rev. 11-2016) Form 973 (Rev. 11-2016) Page 2 If any stock outstanding on the last day of the tax year is entitled to cumulative dividends, show the amount for earlier years unpaid at the beginning of the tax year. Give the class or classes of stock involved. (Use more sheets if necessary.) Instructions Section references are to the Internal Revenue Code unless otherwise noted. Purpose of form. Form 973 is filed by a corporation claiming a consent dividend deduction under section 565. Who may file. The consent dividend provisions apply to corporations that reasonably believe that they are subject to the accumulated earnings tax, personal holding companies, foreign personal holding companies, regulated investment companies, and real estate investment trusts. Limitations. A consent dividend deduction may only be taken as to the amount stated on Form(s) 972 (see below), for “consent stock” (as defined in section 565(f)(1)), which is not a “preferential dividend” (as defined in section 562(c)), and which would constitute a “dividend” (as defined in section 316) if actually paid. How to file. Attach Form 973 to the corporation’s income tax return for the tax year the corporation claims the consent dividend deduction. For each shareholder who agreed to treat the consent dividend as a taxable dividend, the corporation must also attach to its income tax return either the signed Form 972, Consent of Shareholder To Include Specific Amount in Gross Income, or an unsigned Form 972 with the same information stated on the signed Form 972. If the corporation submits an unsigned Form 972, it must retain the original, signed Form 972 in its records. Nonresident aliens and foreign shareholders. If the corporation receives a Form 972 from a nonresident alien or other foreign shareholder, the corporation must pay any withholding tax it would have withheld if the dividend had been actually paid (see Regulations section 1.565-5(a) and sections 1441 and 1442). Use the following forms to report and send the tax withheld. • Form 1042, Annual Withholding Tax Return for U.S. Source Income of Foreign Persons; • Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding; and • Form 1042-T, Annual Summary and Transmittal of Forms 1042-S. See the instructions for these forms for more detailed information on filing and transmitting the payment. 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 content 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. You can write to the Internal Revenue Service at the address listed in the instructions of the tax return with which this form is filed.
Extracted from PDF file 2023-federal-form-973.pdf, last modified November 2016

More about the Federal Form 973 Corporate Income Tax Tax Return TY 2023

We last updated the Corporation Claim for Deduction for Consent Dividends in February 2024, so this is the latest version of Form 973, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 973 directly from TaxFormFinder. You can print other Federal tax forms here.

Other Federal Corporate Income Tax Forms:

TaxFormFinder has an additional 774 Federal income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form 1040 U.S. Individual Income Tax Return
1040 (Schedule B) Interest and Ordinary Dividends
Form W-3 Transmittal of Wage and Tax Statements
Form 1096 Annual Summary and Transmittal of U.S. Information Returns
Form 1120-H U.S. Income Tax Return for Homeowners Associations

Download all  tax forms View all 775 Federal Income Tax Forms

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 973 from the Internal Revenue Service in February 2024.

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Form 973 is a Federal Corporate Income Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.

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 973

We have a total of eleven past-year versions of Form 973 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:

2023 Form 973

Form 973 (Rev. November 2016)

2022 Form 973

Form 973 (Rev. November 2016)

2021 Form 973

Form 973 (Rev. November 2016)

2020 Form 973

Form 973 (Rev. November 2016)

2019 Form 973

Form 973 (Rev. November 2016)

2018 Form 973

Form 973 (Rev. November 2016)

2017 Form 973

Form 973 (Rev. November 2016)

2016 Form 973

Form 973 (Rev. November 2016)

Corporation Claim for Deduction for Consent Dividends 2015 Form 973

Form 973 (Rev. December 2003)

Corporation Claim for Deduction for Consent Dividends 2012 Form 973

Form 973 (Rev. December 2003)

Corporation Claim for Deduction for Consent Dividends 2011 Form 973

Form 973 (Rev. December 2003)

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