Who Needs Form 8718?
This form is used by organizations which want to apply for federal income tax exemption. Form 8718 is not an application, it serves as a determination letter request.
What is the Purpose of Form 8718?
The main purpose of the form is to apply for tax exemption. The information provided is used by the IRS to make a decision on a certain organization. Depending on the organization’s income during the previous four years, it has to pay a fixed fee.
What Other Documents Should Accompany Form 8718?
This form is accompanied by a check or money order payable to the IRS and the determination letter application. The application will be returned if the preparer doesn’t pay the fee.
When is Form 8718 Due?
Form 8718 is filed together with the determination application and the due date depends on the tax year of a certain organization. The estimated time for completing the form is five minutes.
What Information Should be Provided in Form 8718?
- The form has the following sections for completion:
- Name of organization
- Employer Identification Number
- Type of request
- Certification
The certification section must be signed by the organization’s representative.
What do I Do with the Form after its Completion?
The signed and completed form is attached to the determination letter request and forwarded to the IRS.