8827 Credit for Prior Year Minimum Tax - Corporations

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Form

8827

Credit for Prior Year Minimum Tax—Corporations

Department of the Treasury
Internal Revenue Service

▶

4

2021

▶ Attach to the corporation’s tax return.
Go to www.irs.gov/Form8827 for the latest information.

Employer identification number

Name

1
2
3

OMB No. 1545-0123

Minimum tax credit carryforward from 2020. Enter the amount from line 4 of the 2020 Form 8827 . .
Enter the corporation’s 2021 regular income tax liability minus allowable tax credits (see instructions)
Current year minimum tax credit. Enter the smaller of line 1 or line 2 here and on Form 1120,
Schedule J, Part I, line 5d (or the applicable line of your return). . . . . . . . . . . . . .
Minimum tax credit carryforward. Subtract line 3 from line 1. Keep a record of this amount to carry
forward and use in future years . . . . . . . . . . . . . . . . . . . . . . . .

DRAFT AS OF
July 29, 2021
DO NOT FILE

Instructions

Section references are to the Internal
Revenue Code unless otherwise
noted.

Reminder

1
2

Current year minimum tax credit.
The refundable portion of the minimum
tax credit does not apply for tax years
beginning after 2019. See section
53(e). However, a corporation can
have an unused portion of the regular
minimum tax credit (because of
limitations) that can be carried forward
and allowable in later years.

Purpose of Form
Corporations use Form 8827 to figure
the minimum tax credit, if any, for AMT
incurred in prior tax years, and to
figure any minimum tax credit
carryforward.

Who Should File
Form 8827 should be filed by
applicable corporations that have a
minimum tax credit carryover from
2020 to 2021.

Line 2

Enter the corporation’s 2021 regular
income tax liability, as defined in
section 26(b), minus any credits
allowed under Chapter 1, Subchapter
A, Part IV, subparts B, D, E, and F of
the Internal Revenue Code (for
example, if filing Form 1120, subtract
any credits on Schedule J, Part I, lines
5a through 5c, from the amount on
Schedule J, Part I, line 2).

Paperwork Reduction Act Notice.
We ask for the information on this form
to carry out the Internal Revenue laws
of the United States. You are required
to give us the information. We need it
to ensure that you are complying with
these laws and to allow us to figure
and collect the right amount of tax.
You are not required to provide the
information requested on a form that is
subject to the Paperwork Reduction
Act unless the form displays a valid
OMB control number. Books or
records relating to a form or its
instructions must be retained as long
as their contents may become material
in the administration of any Internal
Revenue law. Generally, tax returns
and return information are confidential,
as required by section 6103.

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 13008K

3

4

The time needed to complete and
file this form will vary depending on
individual circumstances. The
estimated burden for business
taxpayers filing this form is approved
under OMB control number 1545-0123
and is included in the estimates shown
in the instructions for their business
income tax return.
If you have comments concerning
the accuracy of these time estimates,
or suggestions for making this form
simpler, we would be happy to hear
from you. See the instructions for the
tax return with which this form is filed.

Form 8827 (2021)