IRS Wants Input on Tax Extension Form Fine Print
Published Date: 10/9/2026
Notice
Summary
The IRS wants your thoughts on a form that lets them take more time to check taxes on certain business deals involving foreign assets. If you’re involved in these deals, this could affect how long the IRS has to review your taxes. Comments are due by December 8, 2026, so don’t miss your chance to weigh in!
Analyzed Economic Effects
1 provisions identified: 0 benefits, 1 costs, 0 mixed.
Form 8838 Extends IRS Assessment Time
If you are a U.S. person who transfers stock or securities to a foreign corporation and enter a Section 367 gain recognition agreement, you file Form 8838 to extend the statute of limitations so the IRS can assess tax after the original statute of limitations expires. The IRS estimates 200 responses, with an estimated 8 hours and 13 minutes per response and a total annual burden of 1,644 hours; comments on this collection are due by December 8, 2026.
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