That elects to be treated as an IC-DISC. The corporation must be organized under the laws of a state or the District of Columbia and meet the following tests: At least 95% of its gross receipts during the tax year are qualified export receipts. At the end of the tax year, the adjusted basis of its qualified export assets is at least 95% of the sum of the adjusted basis of all its assets. It has only one class of stock, and its outstanding stock has a par or stated value of at least.
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How to fill out the IRS 4876-A online
The IRS 4876-A form is critical for corporations electing to be treated as an interest charge domestic international sales corporation (IC-DISC) for income tax purposes. This guide provides clear instructions on how to accurately complete this form online, ensuring compliance with IRS regulations.
Follow the steps to accurately complete the IRS 4876-A form online.
- Press the ‘Get Form’ button to obtain the form and open it in the online editor.
- Enter the name of the corporation that is making the election in the designated space.
- Input the employer identification number (EIN) assigned to the corporation.
- Provide the corporation's physical address, including the street number, room or suite number, city, state, and ZIP code.
- Select the principal business classification by referencing the provided instructions and entering the business code.
- Indicate the tax year of the IC-DISC, using the tax year of the shareholder with the highest voting power.
- Specify the date the election is to take effect.
- Document the date the corporation began doing business.
- Optional: Fill in the name and telephone number of the person who may be contacted for further information.
- List the names and addresses of each shareholder, including the number of shares they hold, at the beginning of the tax year.
- Include signatures from authorized officers of the corporation.
- Obtain the consent of all shareholders by having them sign Part II of the form, or attach a separate consent statement.
- Review all entries for accuracy, and ensure the form is signed and dated.
- Save your changes, download a copy, or share it as required.
Complete the IRS 4876-A form online today to ensure your corporation is compliant with tax regulations.
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