IRS Form 2848 walkthrough - ARCHIVED COPY - READ COMMENTS ONLY

This is an older copy of the video we produced on IRS Form 2848. If you came to this video from another link, I apologize for the inconvenience.
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• IRS Form 2848 walkthro...

[@teachmepersonalfinance2169]

Please feel free to check out our article, where we've written step by step instructions to help you walk through this tax form! www.teachmepersonalfinance.com/irs-form-2848-instructions/

[@afrikanvoice7873]

You explained it well!!

[@IsisGreco]

Thanks for the detailed explanation.

[@deniseboschee1036]

Thank you. What dose this mean at the top of the form? ..."Caution: A separate Form 2848 must be completed for each taxpayer"

[@teachmepersonalfinance2169]

Generally speaking, this relates to married spouses. If a married couple wanted their accountant to represent them before the IRS, each spouse would have to complete a separate Form 2848.

[@ronniehooper3723]

What if you are the sole POA for both of your parents and they are both incapacitated? Would you select “F” (child)?

[@teachmepersonalfinance2169]

I would select that option, for any immediate family member.

[@AngelieBetances-]

I filled this form and I never received a response or the CAF number. I'm trying to get my CAF # through form 2848 and 8821 and nothing happens. I did both online and paper (mailed). I try to get my CAF # on my tax pro account and doesn't allowed me to continue. What else can I do? I'm new on this I get my PTIN and EFIN I need my CAF. Help me please.

[@teachmepersonalfinance2169]

The IRS website has a page specifically to help you with this: www.irs.gov/businesses/small-businesses-self-employed/what-is-a-caf-number If you call 866-860-4259, someone should be able to help you.

[@DBoutBillions]

great video so i have a question what form do i fill out to appoint an executor over an estate is it Form 56?

[@teachmepersonalfinance2169]

According to IRS Publication 559, Survivors, Executors, and Administrators )www.irs.gov/pub/irs-pdf/p559.pdf): If you're only filing a final tax return on behalf of a deceased taxpayer, then you can write DECEASED over the top of the tax return. If you're the personal representative of the estate, you can send in a copy of your court appointment with the tax return and receive the tax refund without having to file IRS Form 1310. Below is some more information about Form 1310, as well as a link to the IRS page for executors: IRS Form 1310, Statement of Person Claiming Refund Due a Deceased Taxpayer Article: www.teachmepersonalfinance.com/irs-form-1310-instructions/ Video: kzbin.info/www/bejne/eXabmaKmZqiUepY www.irs.gov/businesses/small-businesses-self-employed/information-for-executors If you see a form that you might have a question about on this IRS page, odds are pretty good that I put together a video and article to cover that form. Hit me up with any follow up questions, and I can send you a link if you need it.

[@Vicureview]

Does is necessary to put 4 if you’re revoking the POA to a bank or a lawyer? What else I have to sent attached with this form? It’s necessary to fill out the 56 or 56f forms? To who I have to sent this ? Thanks

[@teachmepersonalfinance2169]

If you wish to revoke this form, but not replace it, then you would follow this guidance from the form instructions: If you want to revoke a previously executed power of attorney and do not want to name a new representative, you must write “REVOKE” across the top of the first page with a current signature and date below this annotation. It probably is not necessary to complete Form 56 or 56F unless you're naming a fiduciary (different from POA). You would send this to the IRS office that corresponds to your state or country of residence: www.teachmepersonalfinance.com/irs-form-2848-instructions/

[@patriciafuentes4107]

If I am trying to submit this form to obtain an IPPin number for my family member, what exactly should I be checking off? I have line 4 checked, along with line 5a (sign a return- family member is quadrapelig so cannot sign"

[@teachmepersonalfinance2169]

What type of number are you trying to obtain? I don't understand what an IPPin is. What did you mean to say?

[@patriciafuentes4107]

@@teachmepersonalfinance2169 for identity theft they send you a new code every year. It’s a CPO1A notice

[@AujaTanner]

Hey if we are revoking a business (like our job) POA would we put the the companies Tustee and Indenture trustee info in the 1st and 2nd box??

[@teachmepersonalfinance2169]

The name & information of any company or companies that you would want to revoke the POA for would go into the spaces provided under 2. Representatives.

[@Admin-gy3kd]

That says to appoint I don’t want to appoint anyone. I want to revoke everyone from doing taxes for me. I want to appoint myself so do I put myself as 2?

[@AujaTanner]

@@Admin-gy3kd yep

[@teachmepersonalfinance2169]

@Admin-gy3kd If you've *previously* appointed someone on Form 2848, then you would re-file this form (Item 6). If you've *never* appointed anyone, then you do not need to file this form because you don't need to revoke anything. Having someone prepare your tax return is not the same as having power of attorney privileges. So if you're concerned that someone who previously prepared your tax returns has POA privileges, they do not.

[@IsisGreco]

What designation applies for a representative of an Estate? Thanks

[@teachmepersonalfinance2169]

I'm not sure what you mean, but I'll guess. If you're talking about a personal representative of a decedent's estate who is appointing a tax professional (CPA, EA, lawyer) for IRS representation, then the estate would be considered the taxpayer in that situation. Here are the verbatim instructions for Line 1 (Taxpayer information) and Line 7 (signature): Line 1: Enter the name of the decedent and the name, title, and address of the decedent's executor or personal representative. For Forms 706, enter the decedent's SSN (or ITIN) for the taxpayer identification number. For all other IRS forms, enter the estate's EIN for the taxpayer identification number, or, if the estate does not have an EIN, enter the decedent's SSN (or ITIN). Line 7: If there is more than one executor, only one co-executor having the authority to bind the estate is required to sign. See 26 CFR 601.503(d). If you had a different intention, please let me know.

[@IsisGreco]

Hi, I was referring to the Part II Declaration of Representative. I am the executor of the state and I am completing the form on my own so I would like to know which a - r which one applies to my case. Thank you kindly for your response.

[@teachmepersonalfinance2169]

@@IsisGreco Thank you for clarifying. If you are the executor of an estate, you would not complete IRS Form 2848..that form is only for a living person to authorize someone else on their behalf. Here is the IRS website pertaining to important information regarding decedent tax issues. www.irs.gov/individuals/deceased-person#how-to-file You may determine that you should file IRS Form 56, Notice Concerning Fiduciary Relationship, which I believes fulfills the intent behind your questions with IRS Form 2848. Here are links to the KZbin video and article I've written on this form: Video: kzbin.info/www/bejne/fILLkoqlnLKcj8U Article: www.teachmepersonalfinance.com/irs-form-56-instructions/

[@thereturnofsolomon9318]

How can you make yourself a representative?

[@teachmepersonalfinance2169]

If you’re looking to make yourself your own representative, you don’t need a Form 2848. If you’re trying to represent someone else, then you would complete this form and have the other person sign it.

[@nhoprophet]

@@teachmepersonalfinance2169so which form would you use?

[@johndoe-hy3ge]

Can you be both 56 and 2848?

[@teachmepersonalfinance2169]

There may be situations in which the IRS requires both. But in most situations, it's probably not necessary. The below IRS handout gives an example of a bank officer acting as a signatory on behalf of a trust to bind the bank and to certify that they have the authority to do so, which would require both forms: In this type of situation the appropriate signatory is an officer having authority to bind the bank or other entity and that individual must certify that he/she has such authority. Since this is relating to the trust, this would include completion of both the Form 2848 and the Form 56. www.irs.gov/pub/irs-tege/2848_8821_phoneforum_handout.pdf

[@drea4505]

Who signs on line 7 ?

[@teachmepersonalfinance2169]

The taxpayer signs on Line 7. If you are filing joint returns, and you want the same person to represent you and your spouse, then you each must complete a Form 2848.

[@LauraMichellez]

I downloaded the most recent form from irs.gov. I've noticed in the tax payor ID field it's forcing a 000-00-0000. Im using the ein which is a different format. Is this ok?

[@teachmepersonalfinance2169]

I understand. Since the EIN is also a 9 digit number, you should still be able to enter the number, even if the spacing convention doesn't make sense. Either way, you should be able to enter that information into the form.

[@tmp6348]

What if you want to represent yourself?