IRS Seeks Comment on Tax Form Requesting Gift Tax Return Extension

The IRS is asking for public comment on Form 8892, which is used to request an extension for the filing of a gift tax return.

According to a Feb. 10 Federal Register notice, Form 8892, Application for Automatic Extension of Time to File Form 709 and/or Payment of Gift/Generation-Skipping Transfer Tax, serves a dual purpose. Taxpayers who aren’t filing an extension for an individual income tax return can use Form 8892 to ask for an extension to file Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return.

Form 8892 also serves as a payment voucher for taxpayers who are ...