Fillable Form 921

What is Form 921?

Form 921, Consent to Extend the Time to Assess Income Tax, is used by taxpayers in the United States to request an extension of the time necessary to file an income tax return due to the fact that real estate owned by the taxpayer is under contract to be sold but has not been sold yet.

A complete IRS Tax Form 921 must contain the following information:

• Reference number
• Taxpayer identification number (TIN)
• Full legal name of the taxpayer
• Full legal name of the taxpayer’s spouse
• Address of the taxpayers
  • Number
  • Street
  • City or town
  • State
  • ZIP code
• Amount of federal income tax due on all of the taxpayer’s returns
• All of the taxpayer’s ending tax years
• Tax year of expected project completion
• Real estate project covered by this consent agreement
• Signature
  • Signature of the taxpayer
  • Signature of the taxpayer’s spouse
  • Signature of the taxpayer’s representative
  • Current date of signing
• Corporate information
  • Name of the corporation
  • Name of the corporate officer
  • Title of the corporate officer
  • Taxpayer identification number (TIN) of the corporate officer
  • Current date of signing

If this IRS Form 921 happens to include ending tax years where a joint return was filed, the signature of both the husband and the wife will be required. One spouse may sign as an agent for the other if he or she is acting under an authorized power of attorney.

If an individual happens to be an attorney or an agent for the taxpayers, he or she may sign the consent agreement form provided that the action is specifically authorized by a power of attorney.

If the taxpayer or his or her spouse has not yet filed a power of attorney, he or she is required to include it with this IRS Tax Form 921.

If the taxpayer or his or her spouse are acting as a fiduciary, executor, administrator, or trustee, he or she is required to include a completed Form 56, Notice Concerning Fiduciary Relationship, if he or she has not yet filed one.

If the taxpayer named on this consent form is a corporation, the officers duly authorized to sign on behalf of the entity must sign the consent. The taxpayer must include the name of the corporation, signature, and title of the corporate officers. If the taxpayer is an entity subject to the unified audit and litigation procedures for Tax Equity and Fiscal Responsibility Act (TEFRA) partnerships, he or she must use Form 921-P, Consent Fixing Period of Limitation on Assessment of Income and Profits Tax. If the taxpayer is an entity not subject to the TEFRA requirements, namely S-Corporations, partnerships, limited liability companies, trusts, syndicates, or pools, he or she must use Form 921-I, Consent Fixing Period of Limitation on Assessment of Income and Profits Tax.

The taxpayer and his or her spouse must take note that a tax return that will be filed before the expected project completion date will be considered filed on the day that he or she has entered on the IRS Form 921 without any regard to extensions. This consent agreement to extend the time to assess tax is limited to the assessment of deficiencies attributable to the use of the alternative cost method with respect to the real estate project the taxpayer and his or her spouse have stated in the form. Moreover, if a notice of tax deficiency will be sent to the taxpayer or his or her spouse through certified or registered mail on or before the date he or she has entered, the time to assess his or her income tax under this IRS Tax Form 921 will be further extended by the assessment suspension period. This assessment suspension period will be given an additional 60 days.

How to fill out Form 921?

Taxpayers from the United States can download and print a PDF copy of IRS Form 921 from the Internal Revenue Service (IRS) website that they can manually complete. They can also fill out IRS Form 921 electronically on PDFRun.

To fill out the IRS 921 Form, you must provide the following information:

In reply refer to

Enter your reference number for this consent agreement.

Taxpayer identification number (TIN)

Enter your taxpayer identification number (TIN).

Names

Enter your full legal name along with the full legal name of your spouse.

Address

Enter your residential or home address.

Number

Enter your number.

Street

Enter your street.

City or Town

Enter your city or town.

State

Enter your state.

ZIP Code

Enter your ZIP code.

Amount of federal income tax due

Enter the total amount of federal income tax due on all of your returns.

Tax years ended

Enter all of the ending tax years when you have been filing your income tax returns.

Tax year of expected project completion

Enter the tax year of your expected project completion.

Real estate project covered

Enter the real estate project covered by this consent agreement.

You must take note that a tax return that will be filed before the expected project completion date will be considered filed on the day that you have entered above without any regard to extensions. This consent agreement to extend the time to assess tax is limited to the assessment of deficiencies attributable to the use of the alternative cost method with respect to the real estate project you have entered above.

If a notice of tax deficiency will be sent to you or your spouse through certified or registered mail on or before the date entered above, the time to assess your income tax under this consent agreement will be further extended by the assessment suspension period with an additional 60 days.

Signature

Your signature

Affix your signature.

Date signed

Enter the current date of signing.

Spouse’s signature

Have your spouse affix his or her signature.

Date signed

Enter the current date of signing.

Taxpayer’s representative

Have the taxpayer representative affix his or her signature.

Date signed

Enter the current date of signing.

Corporate name

Enter the full name of the corporation.

Corporate officer name

Enter the full legal name of the corporate officer.

Corporate officer title

Enter the title of the corporate offer.

Corporate officer signature

Have the corporate officer affix his or her signature.

Taxpayer identification number (TIN)

Enter the taxpayer identification number (TIN) of the corporate officer.

Date signed

Enter the current date of signing.