Understanding the purpose of a tax form or schedule is never a pleasant experience. That's why we created a comprehensive tax form library, showcasing the most frequently used tax forms and schedules you may encounter. We believe the process of staying compliant with your taxes should be as effortless as possible.
General Information
- What is the form number? Form 1040 Schedule 3
- What government agency is it filed with? The Internal Revenue Service (IRS)
- What is the form name? Additional Credits and Payments
- What is this form about? Schedule 3 is a supplemental form associated with Form 1040 that U.S. taxpayers use to report non-refundable tax credits beyond the basic child tax credit or the credit for other dependents. Credits listed on this schedule include the foreign tax credit, education credits, and the general business credit, among others. The credits from Schedule 3 serve to reduce the taxpayer's total tax liability for the year, with the totals being transferred to the main Form 1040 document. The form is also used to report withholdings made from paychecks and payments made by the taxpayer.
What does it look like?
Resources
Looking for more information about this form? Here are some helpful resources:
- About the form - https://www.irs.gov/forms-pubs/about-form-1040
- Example copy of the form - https://www.irs.gov/pub/irs-pdf/f1040s3.pdf
How can we help you today?
Looking for more information about this or other tax forms? The tax team at DiMercurio Advisors are tax compliance experts. We are passionate about ensuring you are well-informed and in control of your tax situation.
