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What is a 668 z Form: What You Should Know
The following information, including the original (paper) form, has been placed into an IR form 668: 1. Name and address of the taxpayer(s); 2. Number and address of the tax return; 3. Full and valid Social Security Number; and 4. Date and year of the tax return. What constitutes an “intended purpose of filing”? For purposes of the provisions of Sections 6061 and 6162 that provide for the release of a tax lien under section 668(b), the intended purpose of a taxpayer's tax return or tax return information is: (1) for purposes of filing the individual's individual income tax return to ensure timely payment of income taxes, (2) to obtain or enforce an adjustment to an erroneous tax liability, or (3) to obtain a refund of a refundable tax. What does the form 668Z do? Form 668Z certifies that: (1) the IRS has satisfied the tax lien described in paragraph (b)(1), (2), (3), (4), or (5) of paragraph (b) under which lien was recorded, and (2) the release of the lien is not contrary to law, but that release of the lien is not contrary to public policy, and it should be made on behalf of all persons on account of the taxpayer as the taxpayer's agent. The form 668Z also gives the taxpayer information on an electronic basis regarding the intended purpose for the release of his tax lien. For purposes of this Section, the intended purpose of filing is: (1) to have the lien discharged under Sections 6061 and 6162 and (2) to obtain a refund of a refund attributable to overpayment or underpayment of tax. What are the deadlines for making a Form 668Z? In the case of a timely filed form, you must send it to the IRS no later than 15 days from the date of filing if the taxpayers intent is (1) to have the lien discharged under Sections 6061 and 6162 and (2) to obtain a refund of a refund attributable to overpayment or underpayment of tax. However, a form must be sent immediately if the intent is to obtain a refund pursuant to subsection (b)(3) or (c)(3). However, the IRS is not obligated to give a response if a form is sent too late.
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