Form 2848: Power of Attorney and Declaration of Representative

AAA

DEFINITION of 'Form 2848: Power of Attorney and Declaration of Representative'

A tax form distributed by the Internal Revenue Service (IRS) that allows a taxpayer to identify another individual as representative for them before the IRS. It gives a third party the authority to sign documents requesting additional time to assess the tax obligation, as well as agree to a tax adjustment. Providing the representative with the power of attorney does not, however, relieve the taxpayer of any tax liability.


In order to represent a taxpayer the representative must be authorized to practice in front of the IRS. Authorized individuals include attorneys, CPAs and enrolled agents.

INVESTOPEDIA EXPLAINS 'Form 2848: Power of Attorney and Declaration of Representative'

When a taxpayer permits a representative to represent him or her in front of the IRS, the taxpayer is also granting that individual access to tax information that is typically confidential. Form 8821 can be filed by the taxpayer who wishes to provide a third party access to the his or her confidential tax return, but does not want that person to be a representative in front of the IRS.

RELATED TERMS
  1. Preaudit

    An accounting practice used prior to the official examination ...
  2. Form 2439: Notice to Shareholder ...

    A tax form distributed by the Internal Revenue Service (IRS) ...
  3. IRS Publication 470: Limited Practice ...

    A document published by the Internal Revenue Service that outlines ...
  4. Internal Revenue Service - IRS

    A United States government agency that is responsible for the ...
  5. Power Of Attorney

    A legal document giving one person (called an "agent" or "attorney-in-fact") ...
  6. Certified Public Accountant - CPA

    A designation given by the American Institute of Certified Public ...
RELATED FAQS
  1. What is the government's role and what is the private sector's role in neoliberalism?

    Neoliberalist economic theory supports minimization of government intervention and laissez-faire policy. Neoliberalism is ... Read Full Answer >>
  2. What tax implications are there for parties involved with a reverse repurchase agreement?

    A reverse repurchase agreement – sometimes referred to as a reverse repo – is the purchase of an asset with a simultaneous ... Read Full Answer >>
  3. How are benefits from a provident fund taxed?

    Not all provident fund benefits are treated equally, even in the same country. Thailand, for instance, has three separate ... Read Full Answer >>
  4. How does a qualifying widow obtain widow's allowance?

    The requirements that a widow must meet to obtain a widow's allowance include having a child who is claimed as a dependent ... Read Full Answer >>
  5. What is an IRS letter audit / audit by correspondence?

    Every year, the Internal Revenue Service (IRS) sends numerous notices to taxpayers. Letter audit, or audit by correspondence, ... Read Full Answer >>
  6. When might an abatement be granted by the IRS?

    The Internal Revenue Service (IRS) frequently imposes interest and penalties due to the late filing of a tax return, underpayment ... Read Full Answer >>
Related Articles
  1. Taxes

    How To Appeal Your IRS Audit

    The auditor's review isn't always the last word. Many taxpayers who are audited can successfully appeal their audits and save thousands of dollars.
  2. Taxes

    Surviving The IRS Audit

    Keeping thorough records and knowing the penalties make this experience easier than you'd expect.
  3. Taxes

    3 Common Tax Questions Answered

    We clarify some rules that often puzzle taxpayers.
  4. Options & Futures

    Three Documents You Shouldn't Do Without

    Estate planning is not just about the division of assets after you die. Read on to save your loved ones extra grief.
  5. Taxes

    Tax Court: Your Last Resort

    Appealing an unfavorable or unfair tax ruling may be your last chance to save your finances.
  6. Taxes

    What is an Ad Valorem Tax?

    An ad valorem tax is a levy placed on real or personal property based on the assessed value of that property.
  7. Retirement

    Does it Make Sense to Have an MLP in an IRA?

    Here's why MLPs should — and shouldn't — be considered for an IRA.
  8. Entrepreneurship

    MLPs: How They Are Taxed

    The advantages of MLPs outweigh the disadvantages, especially if you play your cards right.
  9. Mutual Funds & ETFs

    Pros and Cons of Master Limited Partnerships

    Want steady income? Consider looking into MLPs.
  10. Taxes

    IRS Refund Lost? Here's What to Do

    Don't panic. There are a number of reasons your refund might be delayed – and solutions for each.

You May Also Like

Hot Definitions
  1. Bund

    A bond issued by Germany's federal government, or the German word for "bond." Bunds are the German equivalent of U.S. Treasury ...
  2. European Central Bank - ECB

    The central bank responsible for the monetary system of the European Union (EU) and the euro currency. The bank was formed ...
  3. Quantitative Easing

    An unconventional monetary policy in which a central bank purchases private sector financial assets in order to lower interest ...
  4. Current Account Deficit

    A measurement of a country’s trade in which the value of goods and services it imports exceeds the value of goods and services ...
  5. International Monetary Fund - IMF

    An international organization created for the purpose of: 1. Promoting global monetary and exchange stability. 2. Facilitating ...
  6. Risk-Return Tradeoff

    The principle that potential return rises with an increase in risk. Low levels of uncertainty (low-risk) are associated with ...
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!