Form 4972 (2023)

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Get your Form 4972 (2023) in 3 easy steps

  • 01 Fill and edit template Fill Form 4972 (2023)
  • 02 Sign it online Sign Form 4972 (2023)
  • 03 Export or print immediately Export Form 4972 (2023)

How to Redact and Fill Out Form 4972 Online?

Form 4972 is a tax form used to calculate the tax on a lump-sum distribution. If you received a lump-sum distribution from a pension or retirement plan, you might need to file tax from form 4972 and pay tax on a portion of the distribution.

To redact and fill out form 4972 IRS online, you can follow these steps:

  1. Visit the Internal Revenue Service (IRS) website and locate form 4972.
  2. Download a copy of the 4972 tax form and save it to your computer.
  3. Open the IRS form 4972 in a PDF editor, such as Adobe Acrobat or a PDFliner.
  4. Redact any sensitive information, such as your Social Security number, by selecting the text and clicking the "Redact" button in the PDF editor.
  5. Fill out the IRS 4972 form by entering your personal and financial information in the appropriate fields. Be sure to include all required information and double-check your entries for accuracy.
  6. Save the completed tax form 4972 to your computer and print a copy for your records.
  7. Submit the completed form 4972 tax to the IRS according to the instructions provided on the form.

If you have any questions about filling out the 4972 IRS form or are unsure about how to calculate the tax on your lump-sum distribution, you may want to consult with a tax professional or refer to IRS guidance materials for further assistance.

What Should Form 4972 Include?

Form 4972 Screenshot

Form 4972 includes several sections that you will need to complete in order to calculate the tax on your lump-sum distribution. Here are the main sections of 4972 form and the information that you will need to provide:

  • Personal Information: enter here your name, address, and social security number.
  • Distribution Information: provide information about the lump-sum distribution you received, including distribution amount, taxpayer's name, and the tax year in which you received the distribution.
  • Tax Calculation: Next, you need to calculate the tax on your lump-sum distribution using the tax rates and tables in the 4972 tax form template.
  • Payment Information: As long as you must pay tax on your lump-sum distribution, you need to provide information about how you will pay the tax, including the amount of tax withheld and any estimated tax payments you made.
  • Signature: You should sign and date the 4972 tax form to certify that the information you have provided is accurate and complete.

Moreover, form 4972 contains a number of other questions and instructions that you should complete, depending on your circumstances. If you have some more questions about tax form 4972, you should consult a tax professional or seek additional help from IRS guidance materials.

When to Request Form 4972?

You may need to request Form 4972 if you received a lump-sum distribution from a pension or retirement plan, and you are required to pay tax on a portion of the distribution. A lump-sum distribution is a payment of all or a significant portion of the balance in your pension or retirement plan, typically paid in one payment or a series of payments made within one tax year.

If you receive a lump-sum distribution, you will receive a Form 1099-R from the payer, which will report the amount of the distribution and any tax withholding. You will use this form, along with Form 4972, to calculate the tax on your lump-sum distribution and determine any additional tax that you may owe.

It is generally a good idea to request Form 4972 as soon as you receive your Form 1099-R, as you will need to file the form and pay any tax owed on your lump-sum distribution by the tax filing deadline.

Form Versions

2022 Form 4972 (2022) Fill Out Form
Fillable online Form 4972 (2023)
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