96 Idaho Template

96 Idaho Template

The 96 Idaho form is an essential document used for reporting various types of income and financial transactions related to property located in Idaho. It includes important information such as mortgage interest statements and proceeds from real estate transactions, ensuring compliance with state tax regulations. If you need to fill out this form, click the button below to get started!

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96 Idaho Preview

OR 96

IDAHO ANNUAL INFORMATION RETURN

F

 

MEFO00105

01-02-13

Name of person or organization

Social Security Number or EIN

Mailing address

City, State and Zip Code

INFORMATION FORMS INCLUDED

1.Form 1098, Mortgage Interest Statement, if the property was located in Idaho ..............................................

2.Form 1099-A, Acquisition or Abandonment of Secured Property, if the property was located in Idaho...........

3.Form 1099-B, Proceeds From Broker and Barter Exchange Transactions, if the property was located in

Idaho or the service was performed in Idaho...................................................................................................

4.Form 1099-C, Cancellation of Debt, if the secured property was located in Idaho..........................................

5.Form 1099-MISC, Miscellaneous Income, if issued for Idaho transactions.....................................................

6.Form 1099-S, Proceeds From Real Estate Transactions, if Idaho property ....................................................

7.Form W-2G, Certain Gambling Winnings, if the gambling took place in Idaho...............................................

Number of

Forms Included

1

2

3

4

5

6

7

Under penalties of perjury, I declare that to the best of my knowledge and belief this return is true, correct and complete.

Signature

Title

Date

INSTRUCTIONS

You may use federal Form 1096 instead of this form.

1.File this form by February 28, 2013. Keep a copy for your records. Your information return must be iled on a calendar year basis even if your tax return is on a iscal year basis.

2.Report and include only the forms listed that apply to you. The other information forms required by the IRS that are not listed are not required by Idaho. Forms 1099-R that claim Idaho withholding must be submitted on Form 967.

3.Penalties. Penalties apply for failure to ile a return, for late iling, and for iling a false or fraudulent return.

MAIL TO: Idaho State Tax Commission, PO Box 36, Boise ID 83722-0410

Essential Queries on This Form

What is the 96 Idaho form?

The 96 Idaho form is an annual information return required by the Idaho State Tax Commission. It is used to report various types of income and transactions that occurred within Idaho during the tax year. This form helps ensure that the state has accurate information about income generated within its borders.

Who needs to file the 96 Idaho form?

If you have issued specific forms such as Form 1098, Form 1099, or Form W-2G for transactions or income related to Idaho, you will need to file the 96 Idaho form. This requirement applies to individuals and organizations that have reported income, interest, or other financial activities tied to Idaho properties or services.

What forms are included with the 96 Idaho form?

The 96 Idaho form includes several specific forms that must be reported if applicable. These are:

  • Form 1098: Mortgage Interest Statement
  • Form 1099-A: Acquisition or Abandonment of Secured Property
  • Form 1099-B: Proceeds From Broker and Barter Exchange Transactions
  • Form 1099-C: Cancellation of Debt
  • Form 1099-MISC: Miscellaneous Income
  • Form 1099-S: Proceeds From Real Estate Transactions
  • Form W-2G: Certain Gambling Winnings

When is the 96 Idaho form due?

The 96 Idaho form must be filed by February 28 of the year following the tax year you are reporting. For example, if you are reporting for the tax year 2012, the form is due by February 28, 2013. It’s important to file on time to avoid potential penalties.

What happens if I miss the filing deadline?

Missing the filing deadline can lead to penalties for late filing. The Idaho State Tax Commission imposes fines for failure to file a return, for late submissions, and for filing false or fraudulent returns. To avoid these issues, it’s best to prepare and submit your forms well before the deadline.

Can I use federal Form 1096 instead of the 96 Idaho form?

Yes, you can use federal Form 1096 in place of the 96 Idaho form. However, make sure to include all relevant information and forms that apply to your situation. This option provides flexibility, especially if you are already familiar with federal reporting requirements.

Where do I send the completed 96 Idaho form?

Once you have completed the 96 Idaho form, mail it to the Idaho State Tax Commission at the following address: PO Box 36, Boise, ID 83722-0410. Be sure to keep a copy for your records, as it may be needed for future reference or in case of an audit.

Misconceptions

Understanding the 96 Idaho form can be challenging due to various misconceptions. Here are seven common misunderstandings and clarifications regarding this form:

  • It is only for individuals. Many believe that only individuals need to file the 96 Idaho form. In reality, both individuals and organizations must file this form if they meet certain criteria.
  • All IRS forms are required to be submitted. Some think that all IRS forms need to be included with the 96 Idaho form. However, only specific forms listed in the instructions are necessary for submission.
  • The filing deadline is flexible. There is a misconception that the filing deadline can be extended. The 96 Idaho form must be filed by February 28, 2013, without exception.
  • Only income from Idaho sources needs to be reported. Some individuals believe that they only need to report income generated within Idaho. However, the form requires reporting of specific forms related to Idaho transactions, regardless of where the income was earned.
  • You can ignore penalties. Many think that penalties for late filing or inaccuracies are not significant. In fact, penalties can apply for failure to file, late filing, and for submitting false or fraudulent returns.
  • Federal Form 1096 cannot be used. A common misconception is that federal Form 1096 is not an option. In fact, you may use federal Form 1096 instead of the 96 Idaho form if preferred.
  • Record-keeping is unnecessary. Some individuals believe that keeping a copy of the submitted form is not important. In truth, it is essential to retain a copy for your records.

Clarifying these misconceptions can help ensure compliance with Idaho tax regulations and avoid potential penalties.

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