IRS 3498-A 2021-2025 free printable template

This publication guides taxpayers through the audit process, explaining their responsibilities and rights during and after an audit.

How to fill out IRS 3498-A

How to fill out IRS 3498-A

1. Obtain IRS Form 3498-A from the IRS website or your tax professional.
2. Fill in your name and taxpayer identification number (TIN) at the top of the form.
3. Provide the details of the qualified investment, including the type of account and account number.
4. Report the fair market value of the account as of December 31 of the tax year.
5. Include any contributions made to the account during the tax year.
6. Sign and date the form before submitting it according to IRS instructions.

Who needs IRS 3498-A?

1. Individuals who have invested in a Qualified Tuition Program (QTP) must file IRS Form 3498-A.
2. Account holders of 529 plans or other education savings accounts are required to submit this form.

Video instructions and help with filling out and completing irs examination form

Instructions and Help about IRS 3498-A

Hi welcome to easy payroll guide my name is Karen Hutchinson and in this video I'm going to be showing you how to complete the IRS 941 form this is the employers quarterly federal tax return this form is due at the end of each quarter so for example quarter one ends on March 31st this would be due by April 30th so April 30th July 31st October 31st and January 31st are the due date for the IRS 941 form this form is going to detail all the tax liabilities for that quarter this is how the IRS reconciles your w3 forms, so you want to make sure that the information on this form is correct what I'm going to do is I'm going to give you a scenario of a small business who had three employees, and I've taken the information from their paychecks, and I've put them into an Excel spreadsheet and this is something that you could do as well for your record-keeping in order to help you to complete or just to check the 941 form, so I have three employees, and I've included their gross pay for each employee and then in the last column I've totaled the gross pay so my total four gross pay is twenty-five thousand four hundred sixty-five dollars and twenty-seven cents I've also included in the spreadsheet the taxes that were withheld from each employee's paycheck now this is just the employee portion of the taxes, so I've included the federal withholding that I've included from each paycheck the employee Medicare portion the employer employee Social Security portion, and I've included the state withholding the state withholding we're not going to need to use or the 941, but I wanted to point that out this is only federal taxes that are going to go on the 941 form, so we are going to be using this portion not the state portion in the 941 form okay now this is the federal withholding so Medicare and Social Security for the entire quarter, so this is what my employees have been paid for all of January all of February and all of March now I'm sorry we're doing fourth-quarter so all of October all of November all of December, so it doesn't matter for three months these are the totals now along with withholding and paying taxes for your employee you also must pay an employer share of those taxes so when you major deposits you would have multiplied the Medicare portion by two and the Social Security portion by two because the employee is paying half, but you're paying half as well so as you can see here in blue the Medicare portion for the employee and the employer are the same and the same for Social Security, so these taxes were paid as well and will be noted on the 941 form so in this red box here I've kind of just summarized what we're going to be using for the nine forty-one we're going to need the total gross pay that you've paid all three employees for all three months of the quarter you will also need to know the withholding total and the total Medicare and Social Security pain it will not be broken out by employee and employer on the nine forty-one form, but you...

People Also Ask about

How long does it take the IRS to process an appeal?

When should I expect to hear from Appeals? You can expect to hear from us after we receive and review your case. If you haven't heard from us and it's been more than 120 days since you filed your protest requesting an appeal, contact the IRS office to which you sent your appeal request.

What is form 3498 A?

This publication will guide you through the audit process and explain your responsibilities and rights during and after an audit. While most returns are accepted as filed, some are selected for audit to determine if income, expenses, and/or credits are being reported accurately.

Can the IRS reopen a closed audit?

Audit reconsideration is the reopening of a closed audit. The IRS may agree to audit reconsideration if you missed the 30-day deadline to appeal your audit, and you have information to present that the IRS hasn't already considered.

How long does IRS audit reconsideration take?

You should expect to hear from the IRS about your reconsideration request within 30 days. The IRS will send you a letter, if it needs more information.

What constitutes a collection activity by the IRS?

If you don't pay your tax in full when you file your tax return, you'll receive a bill for the amount you owe. This bill starts the collection process, which continues until your account is satisfied or until the IRS may no longer legally collect the tax; for example, when the time or period for collection expires.

How do I get out of an IRS audit?

If you disagree with the results, appeal to the appropriate venue. Within 30 days, you can request an appeal with the IRS Office of Appeals. After 30 days, the IRS will send you a letter, called a Statutory Notice of Deficiency. This letter closes the tax audit and allows you to petition the U.S. Tax Court.

For pdfFiller’s FAQs

How can I manage my IRS 3498-A directly from Gmail?

IRS 3498-A and other documents can be changed, filled out, and signed right in your Gmail inbox. You can use pdfFiller's add-on to do this, as well as other things. When you go to Google Workspace, you can find pdfFiller for Gmail. You should use the time you spend dealing with your documents and eSignatures for more important things, like going to the gym or going to the dentist.

How can I get IRS 3498-A?

The premium subscription for pdfFiller provides you with access to an extensive library of fillable forms (over 25M fillable templates) that you can download, fill out, print, and sign. You won’t have any trouble finding state-specific IRS 3498-A and other forms in the library. Find the template you need and customize it using advanced editing functionalities.

Can I edit IRS 3498-A on an iOS device?

Create, edit, and share IRS 3498-A from your iOS smartphone with the pdfFiller mobile app. Installing it from the Apple Store takes only a few seconds. You may take advantage of a free trial and select a subscription that meets your needs.

What is IRS 3498-A?

IRS Form 3498-A is a form used by the Internal Revenue Service that reports the acquisition or abandonment of a qualified designated Roth account.

Who is required to file IRS 3498-A?

Entities that participate in making distributions from Roth accounts in retirement plans must file IRS Form 3498-A, particularly financial institutions managing these accounts.

How to fill out IRS 3498-A?

To fill out IRS Form 3498-A, an entity must provide details about the designated Roth account, such as the account holder's information, the type of account, and relevant transaction details.

What is the purpose of IRS 3498-A?

The purpose of IRS Form 3498-A is to report information about Roth accounts for the benefit of both the IRS and taxpayers, ensuring compliance and accurate reporting of contributions and distributions.

What information must be reported on IRS 3498-A?

Form 3498-A requires reporting of the account holder's name, Social Security number, type of Roth account, and details of contributions or distributions made during the tax year.