How to Fill Out IRS Form 13780

IRS Form 13780 is titled "Offer for Notice 2002-35 Transactions." This form is a way for those taxpayers who committed violations under Announcement 2002-35 to correct their disallowed transactions that were not allowable for tax benefit purposes. Read on to learn more.

Instructions

Difficulty: Easy

1. Download IRS Form 13780 from the Internal Revenue Service's official website. See our Resources section below for the link.
2. Understand what is meant by a Section 2002-35 violation. The Treasury Department and the IRS understand that tax payers use this type of transaction to generate tax losses. The transactions and the resulting tax benefits are not allowable for federal income tax purposes.
3. Fill out Section I, "Taxpayer Data." Include your name, identification number (EIN or Social Security Number), the years that are at issue and the NPC (notional principal contract) name. If there is more than one NPC involved, list the separate entity names and affected years in Section II on Page 2.
4. Read and acknowledge the affirmation statement, which says, "Under penalties of perjury, I declare that I have examined these statements, accompanying schedules, and attachments, and to the best of my knowledge and belief, they are true, correct, and complete." Sign and date the form; if you are married, your spouse must do the same.
5. Return IRS Form 13780 to your Internal Revenue Service Section 2002-35 contact via email, postal mail or fax.