8974 Form PDF Details

The Form 8974, titled "Qualified Small Business Payroll Tax Credit for Increasing Research Activities," serves as a critical tool for eligible small businesses looking to claim a payroll tax credit associated with their research and development (R&D) expenditures. This document, an important release from the Department of the Treasury and the Internal Revenue Service (IRS), revised in December 2017, is designed to work in conjunction with forms such as the 941, 941-PR, 941-SS, 943, 941-PR, and 944, or 944(SP). It is specifically tailored for businesses capable of demonstrating an increase in their R&D activities, with distinct sections guiding employers through the process of reporting their credit from previous periods and determining the amount that can be utilized in the current period. The form requires detailed information regarding the employer’s identification number (EIN), income tax return details, and the calculated credit based on R&D expenditures previously filed on Form 6765. With categories defined for each quarter of the fiscal year, Form 8974 delineates a systematic method for small businesses to offset some of their payroll tax liabilities, encouraging the continuous innovation and growth within the ambit of the U.S. economy. This form, akin to a bridge between empirical R&D investment and fiscal incentive, underscores the government's support for small businesses driving forward in technological and scientific research domains.

QuestionAnswer
Form Name8974 Form
Form Length1 pages
Fillable?No
Fillable fields0
Avg. time to fill out15 sec
Other namesthe 8974 irs, 8974 tax get, form 8974 instructions, form for 8974

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Form

8974:

Qualified Small Business Payroll Tax Credit for Increasing Research Activities

950817

 

 

 

(Rev. December 2017)

Department of the Treasury — Internal Revenue Service

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OMB No. 1545-0029

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Employer identification number (EIN)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Report for this quarter . . .

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Check only one box.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Name (not your trade name)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1: January, February, March

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2: April, May, June

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The credit from Part 2, line 12, will be

 

 

 

Form 941, 941-PR, or 941-SS

 

 

 

 

 

 

 

 

3: July, August, September

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

reported on (check only one box):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Form 943 or 943-PR

 

 

 

 

 

 

 

 

 

 

 

 

4: October, November, December

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Calendar year

 

 

 

 

 

 

 

 

 

Form 944 or 944(SP)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

You must select a quarter if you file Form 941, 941-PR, or 941-SS.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Part 1:

Tell us about your income tax return.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)

 

 

 

(b)

 

 

 

(c)

 

 

 

 

 

 

(d)

 

 

 

(e)

 

 

(f)

 

(g)

 

 

Ending date

 

 

Income

 

 

Date income

 

 

EIN

 

Amount from

 

Amount of credit

 

Remaining credit

 

 

of income

 

tax return

 

 

 

tax return

 

 

used on

 

Form 6765, line 44,

 

from column (e)

(subtract column (f)

 

 

tax period

 

 

filed that

 

 

 

was filed

 

Form 6765

 

or if applicable,

 

 

taken on a

 

from column (e))

 

 

 

 

 

 

included

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

the amount that

 

previous period(s)

 

 

 

 

 

 

 

 

 

Form 6765

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

was allocated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

to your EIN

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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6

Add lines 1(g) through 5(g) and enter the total here

 

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Part 2:

Determine the credit that you can use this period.

 

 

 

 

 

 

 

 

 

 

 

 

 

7 Enter the amount from Part 1, line 6(g) . . . . . . . . . . . . . . . . . . 7

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8

Enter the amount from Form 941 (941-PR or 941-SS),

 

 

 

 

line 5a, Column 2; Form 943 (943-PR), line 3; or Form

 

 

 

 

944 (944(SP)), line 4a, Column 2

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9

Enter the amount from Form 941 (941-PR or 941-SS),

 

 

 

 

line 5b, Column 2; or Form 944 (944(SP)), line 4b,

 

 

 

 

Column 2

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10

Add lines 8 and 9

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11Multiply line 10 by 50% (0.50). Check this box if you're a third-party payer of sick pay or

check this box if you received a Section 3121(q) Notice and Demand. See the

instructions before completing line 11

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12 Credit. Enter the smaller of line 7 or line 11. Also enter this amount on Form 941 (941-PR

 

 

 

or 941-SS), line 11; Form 943 (943-PR), line 12; or Form 944 (944(SP)), line 8

12

 

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For Paperwork Reduction Act Notice, see the separate instructions.

www.irs.gov/Form8974

Cat. No. 37797C

Form 8974 (Rev. 12-2017)

How to Edit 8974 Form Online for Free

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Step 1: Get the button "Get Form Here" and select it.

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form 8974 empty fields to consider

Provide the necessary data in the Add lines g through g and enter, Part, Determine the credit that you can, Enter the amount from Part line g, Enter the amount from Form PR or, Enter the amount from Form PR or, Add lines and, Multiply line by Check this box, if youre a thirdparty payer of, check this box, if you received a Section q Notice, instructions before completing, Credit Enter the smaller of line, and or SS line Form PR line or Form area.

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