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Video instructions and help with filling out and completing When Form 8453 S Withholding

Instructions and Help about When Form 8453 S Withholding

For this video i want to cover the irs form 8453 which is a transmittal form for certain types of documents that you might need to submit with your 1040. so i've got one slide in front of us here covering kind of what this form is and when you may need it with an example and then we'll go through a sample 8453 and how to submit to the irs so what is this form this is a form where you have to paper file additional documents to the irs and so this works as kind of a cover sheet alright so when the taxpayer electronically files their 1040 there might be cases where they have to provide additional information to the irs or they have to file a form with their 1040 an actual irs form that's not supported for e-filing purposes okay so believe it or not there are actual forms that the irs has that are actually part of tax return prep software but the software itself or the irs doesn't accept it for e-filing purposes so for example and the one we're going to look at here is the 8332 so the 8332 is a release of an exemption by a custodial parent so the non-custodial parent can claim the child as a dependent but this form generally cannot be e-filed and a lot of software even if you wanted to print it off sign it and attach it as a pdf even then you can't do it so in order to submit this to the irs you have to electronically file your 1040 and then paper file the 8332 with the 8453 okay now the 8453 you can prepare it with the return but you should only be submitting it until you've gotten an e-file confirmation that the return was accepted right so that you file the return within a few business days you'll get an e-file confirmation and acceptance and it's at that point that you can you can file the 84-53 so in this example here we have john and jane they're married and they got a divorce in 2022. they had one son brian as part of their marriage and after the divorce brian now lives most of the year with jane uh and this makes jane the custodial parent now john continues to support everyone financially which is not uncommon so you know what happens here is he is generally better suited to claim his son as a dependent because he might be eligible for certain types of tax credits and things like that and so uh john uh goes to jane and asks her hey can you release the dependency exemption to me so i can claim our son right because if jane um if her earnings are less than john's the child tax credit might not be of any benefit to her now john is using an online tax return prep service so he's preparing his ...

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