Form 972

Form 972

A form a stockholder in a corporation files with the IRS to consent to have a dividend considered as part of the stockholder's own income for tax purposes, even though no dividend was paid. If the stockholder consents to such a dividend, the company may deduct the amount of the dividend from its own taxable income.
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The consent is irrevocable and is made on Form 972, Consent of Shareholder To Include Specific Amount in Gross Income, by the due date of the corporate return claiming the deduction.
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