Reporting requirements for abusive tax shelters

Reporting requirements for abusive tax shelters

Investors (participants)

Every year, for each reportable transaction you participated in, attach Reportable Transaction Disclosure Statement (IRS Form 8886) with your tax return.

Additionally, the first year of each transaction, separately send IRS Form 8886 to either:

Tax Shelter Filing
ABS 389 MS F340
Franchise Tax Board
PO Box 1673
Sacramento, CA 95812
Courier Service Delivery
Tax Shelter Filing MS340
Franchise Tax Board
Sacramento, CA 95827

Do not mail your tax return to the above addresses.

Investors (participants) who E-file

Taxpayers can file IRS Form 8886 with the California e-file tax return.

E-filers must also file a separate IRS Form 8886 for the first time the reportable transaction is disclosed. Mail a duplicate copy of IRS Form 8886 to the address above.

Material advisors

Material advisors must file a Material Advisor Disclosure Statement (IRS Form 8918) with us when the advisor meets any of the criteria in R&TC 18628(d).

Material advisors of certain shelters and transactions are required to disclose their participants, and the material advisor may be subject to penalties.