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Form 4180 online Bellevue Washington: What You Should Know

The interview also asks, “The IRS asks you a series of questions about what you expect to do. Are you seeking the trust fund recovery penalty or a refund of your personal contributions and interest?” You will be asked to confirm that none of your personal information has been shared with anyone outside the trust account, have not opened any bank accounts in the trust, have not made any withdrawals from the trust, have complied with any other laws regarding trust fund assets, and that all of your financial information is up to date. The IRS also asks about any financial hardship the trustee has, and your reasons why you have elected not to use tax-exempt status to limit your liability in a trust. The interview asks that both of you take an electronic-only deposition where you sign a statement acknowledging the facts presented, and then the interview ends with a written report of the interview. We do recommend that you read the Form 4180 interview question and answer questions in addition to signing the form. Also, the IRS asks that you please not sign for either document that states “I consent to the information being disclosed.

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