Irs Form 4549 PDF Details

Understanding the intricacies of IRS Form 4549, Income Tax Examination Changes, is vital for taxpayers who have undergone an audit. This document is essentially the culmination of an IRS audit process, summarizing adjustments to income, deductions, and taxes owed or refunded. Jack and Susan Anson's case, as illustrated in the form, provides a practical example of how adjustments are made to various tax components such as itemized deductions, standard deductions, and taxable income. Moreover, it calculates the corrected tax liability, taking into account additional taxes, credits, and prepayment credits. Particularly noteworthy is the form's attention to penalties and interest, including accuracy-related penalties and interest on underpayments attributed to negligence or fraud, underscoring the potential financial implications of audit findings. The form also serves as a reminder to taxpayers about the possibility of state tax effects and the obligations that may arise from underreporting income. Highlighting agreements between the IRS and state tax agencies, it stresses the importance of amending state returns if federal adjustments affect state tax amounts. Additionally, the form references mechanisms like backup withholding as enforcement tools for collecting taxes on unreported income. This introduction provides taxpayers with a comprehensive overview of what to expect when dealing with Form 4549 and underscores the importance of understanding its contents to appropriately address any adjustments and avoid further penalties.

QuestionAnswer
Form NameIrs Form 4549
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesform 4549 income tax examination changes, irs form 4549, tax form 4549, form 4549 irs

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Form 4549

 

Department of the Treasury-Internal Revenue Service

 

 

 

 

 

 

 

 

 

Income Tax Examination Changes

 

 

 

Page

 

of

 

 

(Rev. May 2008)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Name and Address of Taxpayer

 

Taxpayer Identification Number

 

Return Form No.:

Jack and Susan Anson

 

XXX-XX-XXXX

 

 

 

1040

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Person with whom

Name and Title:

 

 

 

 

 

 

 

 

examination

 

 

Jack and Susan Anson

 

 

 

 

changes were

 

 

 

 

 

 

 

 

 

 

 

 

discussed.

 

 

 

 

 

 

 

 

1.

Adjustments to Income

 

Period End

 

Period End

Period End

 

12-31-XX

 

12-31-XX

12-31-XX

 

 

 

 

 

a. Itemized Deductions

 

XXXXX

 

 

XXXXX

 

 

XXXXX

b. Standard Deduction

 

 

 

 

 

 

 

 

(XXXXX)

c.

 

 

 

 

 

 

 

 

 

 

 

 

d.

 

 

 

 

 

 

 

 

 

 

 

 

e.

 

 

 

 

 

 

 

 

 

 

 

 

f.

 

 

 

 

 

 

 

 

 

 

 

 

g.

 

 

 

 

 

 

 

 

 

 

 

 

h.

 

 

 

 

 

 

 

 

 

 

 

 

i.

 

 

 

 

 

 

 

 

 

 

 

 

j.

 

 

 

 

 

 

 

 

 

 

 

 

k.

 

 

 

 

 

 

 

 

 

 

 

 

l.

 

 

 

 

 

 

 

 

 

 

 

 

m.

 

 

 

 

 

 

 

 

 

 

 

 

n.

 

 

 

 

 

 

 

 

 

 

 

 

o.

 

 

 

 

 

 

 

 

 

 

 

 

p.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2.

Total Adjustments

 

XXXXX

 

 

XXXXX

 

 

XXXX

3.Taxable Income Per Return or as Previously Adjusted

4.Corrected Taxable Income

Tax Method

Tax Table

Tax Table

Tax Table

Filing Status

Joint

Joint

Joint

5.Tax

6.Additional Taxes / Alternative Minimum Tax

7.Corrected Tax Liability

8.Less a. Credits b. c. d.

9.Balance (Line 7 less Lines 8a through 8d)

10.Plus a. Other b. Taxes c. d.

11.Total Corrected Tax Liability (Line 9 plus Lines 10a through 10d)

12.Total Tax Shown on Return or as Previously Adjusted

13.Adjustments to: a.

b.

c.

14.Deficiency-Increase in Tax or (Overassessment­Decrease in Tax) (Line 11 less Line 12 adjusted by Lines 13a through 13c)

15.Adjustments to Prepayment Credits - Increase (Decrease)

16.Balance Due or (Overpayment) - (Line 14 adjusted by Line 15)

(Excluding interest and penalties)

XXXX.XX

XXXX.XX

XXX.XX

The Internal Revenue Service has agreements with state tax agencies under which information about federal tax, including increases or decreases, is exchanged with the states. If this change affects the amount of your state income tax, you should amend your state return by filing the necessary forms.

You may be subject to backup withholding if you underreport your interest, dividend, or patronage dividend income you earned and do not pay the required tax. The IRS may order backup withholding (withholding of a percentage of your dividend and/or interest income) if the tax remains unpaid after it has been assessed and four notices have been issued to you over a 120-day period.

Catalog Number 23105A

www.irs.gov

Form 4549 (Rev. 5-2008)

Form 4549

 

 

Department of the Treasury-Internal Revenue Service

 

 

 

 

 

 

 

 

 

Income Tax Examination Changes

 

 

Page

 

of

 

 

 

(Rev. May 2008)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Name of Taxpayer

 

Taxpayer Identification Number

 

Return Form No.:

 

Jack and Susan Anson

 

XXX-XX-XXXX

 

 

 

1040

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Period End

Period End

Period End

 

17. Penalties/ Code Sections

 

12-31-XX

12-31-XX

12-31-XX

 

a. Accuracy Related Penalty - IRC 6662

XXX.XX

 

XXX.XX

 

 

XX.XX

 

b.

 

 

 

 

 

 

 

 

 

 

c.

 

 

 

 

 

 

 

 

 

 

d.

 

 

 

 

 

 

 

 

 

 

e.

 

 

 

 

 

 

 

 

 

 

f.

 

 

 

 

 

 

 

 

 

 

g.

 

 

 

 

 

 

 

 

 

 

h.

 

 

 

 

 

 

 

 

 

 

i.

 

 

 

 

 

 

 

 

 

 

j.

 

 

 

 

 

 

 

 

 

 

k.

 

 

 

 

 

 

 

 

 

 

l.

 

 

 

 

 

 

 

 

 

 

m.

 

 

 

 

 

 

 

 

 

 

n.

 

 

 

 

 

 

 

 

 

 

18.Total Penalties

Underpayment attributable to negligence: (1981­1987) A tax addition of 50 percent of the interest due on the underpayment will accrue until it is paid or assessed.

Underpayment attributable to fraud: (1981­1987)

A tax addition of 50 percent of the interest due on the underpayment will accrue until it is paid or assessed.

Underpayment attributable to Tax Motivated Transactions (TMT). The interest will accrue and be assessed at 120% of the under­ payment rate in accordance with IRC §6621(c)

19.Summary of Taxes, Penalties and Interest:

a.

Balance due or (Overpayment) Taxes - (Line 16, Page 1)

XXXX.XX

XXXX.XX

XXX.XX

b.

Penalties (Line 18) - computed to

 

XXX.XX

XXX.XX

XX.XX

c.

Interest (IRC § 6601) - computed to

 

XXX.XX

XXX.XX

XX.XX

d.

TMT Interest - computed to

(on TMT underpayment)

 

 

 

e.

Amount due or (refund) ­ (sum of Lines a, b, c and d)

XXXX.XX

XXXX.XX

XXXX.XX

Other Information:

Examiner's Signature:

Employee ID:

XXXXXXX

Office:

SBSE- Exam

Date:

XX-XX-XXXX

Consent to Assessment and Collection- I do not wish to exercise my appeal rights with the Internal Revenue Service or to contest in the United States Tax Court the findings in this report. Therefore, I give my consent to the immediate assessment and collection of any increase in tax and penalties, and accept any decrease in tax and penalties shown above, plus additional interest as provided by law. It is understood that this report is subject to acceptance by the Area Director, Area Manager, Specialty Tax Program Chief, or Director of Field Operations.

PLEASE NOTE: If a joint return was filed. BOTH taxpayers must sign

Signature of Taxpayer

Date:

Signature of Taxpayer

 

 

 

Date:

By:

Title:

Date:

Catalog Number 23105A

www.irs.gov

Form 4549 (Rev. 5-2008)

How to Edit Irs Form 4549 Online for Free

It's straightforward to prepare the irs form 4549 instructions. Our tool was made to be easy-to-use and help you complete any PDF quickly. These are the four actions to take:

Step 1: To begin the process, click the orange button "Get Form Now".

Step 2: You'll notice all of the functions which you can take on the template once you've entered the irs form 4549 instructions editing page.

Fill out the particular segments to create the document:

irs 4549 form spaces to fill in

Write down the appropriate details in the area Total Adjustments, Taxable Income Per Return or as, Corrected Taxable Income, Tax Method, Filing Status, Tax, Additional Taxes Alternative, Credits, Balance Line less Lines a through, Plus, Other, Taxes, Total Corrected Tax Liability, Total Tax Shown on Return or as, and Adjustments to a b.

Filling in irs 4549 form part 2

Write down the crucial particulars in Form Rev May, Name of Taxpayer Jack and Susan, Penalties Code Sections, Department of the TreasuryInternal, Page, Taxpayer Identification Number, Return Form No, XXXXXXXXX, Period End XX, Period End XX, Period End XX, Accuracy Related Penalty IRC, XXXXX, XXXXX, and XXXX section.

irs 4549 form Form  Rev May, Name of Taxpayer Jack and Susan, Penalties Code Sections, Department of the TreasuryInternal, Page, Taxpayer Identification Number, Return Form No, XXXXXXXXX, Period End XX, Period End XX, Period End XX, Accuracy Related Penalty  IRC, XXXXX, XXXXX, and XXXX fields to insert

The Total Penalties, Underpayment attributable to, Underpayment attributable to fraud, Underpayment attributable to Tax, Summary of Taxes Penalties and, a Balance due or Overpayment Taxes, on TMT underpayment, Other Information, XXXXXX XXXXX XXXXX, XXXXXX XXXXX XXXXX, XXXXX XXXX XXXX, XXXXXX, XXXXXX, and XXXXXX section will be the place to insert the rights and obligations of each party.

part 4 to entering details in irs 4549 form

Complete the document by checking the following fields: Examiners Signature, Employee ID, Office, Date, Consent to Assessment and, XXXXXXX, SBSE Exam, XXXXXXXX, Signature of Taxpayer, Date, Signature of Taxpayer, PLEASE NOTE If a joint return was, Title, Date, and Date.

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