Understanding Your CP286 Notice

We approved your Form 8716, Election To Have a Tax Year Other Than a Required Tax Year.


What you need to do


You may want to


Answers to common questions

What should I do if I want to change to a calendar year for Form 1065 or Form 1120S?
File a final Form 8752, which will terminate your Internal Revenue Code (IRC) Section 444 election. If you have a credit on your account, file a final Form 8752 for us to refund the payments to you. You must also file a short period business income tax return (Form 1065 or Form 1120S) with your final Form 8752 ending December 31.

Do I need to file Form 8752 when I don’t owe a payment?
Yes. You must file Form 8752 each year the Section 444 election is in effect, even if you don't need to make a payment.

If I'm no longer required to file a Form 1065 or Form 1120S, do I need to ask the IRS to terminate my election?
Yes. You must send a final Form 1065 or Form 1120S, along with a final Form 8752.

Are there any consequences if I don’t file Form 8752 or pay when I file?
Failure to file or failure to pay will result in the termination of your fiscal year election.

 

Printable samples of this notice (PDF)

Need Help?

  • You can authorize someone to contact the IRS on your behalf.
  • See if you qualify for help from a Low Income Taxpayer Clinic.
  • If you can’t find what you need online, you can call the IRS at the 800, 866, or 888 number listed on the notice.