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Form 4626 for Lewisville Texas: What You Should Know

Oct 25, 2023 — The purpose of form 4626 is to compute the tax imposed by section 1 (relating to Alternative Minimum Tax) and to obtain information from the taxpayer with respect to that tax. If the taxpayer receives a corrected Form 4765 from the Tax Collector that includes an itemized deduction for the taxable part of any tax imposed by section 1 and notifies the taxpayer of a failure to report any itemized deduction for the tax imposed by section 1, the IRS can require the taxpayer to furnish such additional information as it may deem necessary. (A non-resident alien taxpayer who has failed to furnish the necessary information will not be entitled to a refund for the tax withheld under section 1202.) If the taxpayer has filed a return but has not paid any tax on the return, then section 5312 of the Internal Revenue Code requires the IRS to provide (on Form 4626 or another comparable form) the tax imposed on that return; provided, that when that return is filed, section 5312 of the Internal Revenue Code does not impose penalties on any person for failure by that person to furnish information relating to a tax. Form 4626—Admittance of Taxpayer to the United States. Internal Revenue Services. Section 1 (relating to Alternative Minimum Tax). ▷ Attach to the corporation's tax return.

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