The Taxpayer Advocate Service

(TAS) is an independent organization within the IRS that helps taxpayers and protects taxpayer rights. TAS’s job is to ensure that every taxpayer is treated fairly and knows and understands their rights under the Taxpayer Bill of Rights .

Direct deposit. Direct deposit fields have been added onto the form on lines 30c, 30d, and 30e. If there is an overpayment on line 29, enter the amount the REIT wants refunded on line 30b and complete the direct deposit information on lines 30c, 30d, and 30e. Instead of a direct deposit of the REIT’s refund, it can still choose to have all or part of the overpayment credited to the next year’s estimated tax by completing line 30a. See Line 29. Overpayment, later, for more information.

Making a payment. If there is a balance due on line 28, go to IRS.gov/Payments for information on how to make a payment. See Tax Payments and the instructions for Line 28. Tax due , later for more details.

Gain from the sale or exchange of qualified farmland prop- erty to qualified farmers. P.L. 119–21, commonly known as the One Big Beautiful Bill Act, created new section 1062 regarding the gain from the sale or exchange of qualified farmland property to qualified farmers. Section 1062 allows taxpayers to elect to pay the net income tax attributable to the gain from the sale or exchange of qualified farmland property to qualified farmers in four equal annual installments. This election is available for qualified sales and exchanges of qualified farmland property to a qualified farmer in tax years beginning after July 4, 2025. For more information, see section 1062 and the new Form 1062, Deferral of Tax on Gain From the Sale or Exchange of Qualified Farmland Property to Qualified Farmers, when it is available.

To report the section 1062 applicable net tax liability and the installment due in the first tax year, two lines were added on Form 1120–REIT. Report the full amount of section 1062 applicable net tax liability on Form 1120–REIT, line 25h. Report the first installment due in the tax year 2025 on Form 1120-REIT,

As a taxpayer, the REIT has rights that the IRS must abide by in its dealings with the REIT. TAS can help the REIT if:

• A problem is causing financial difficulty for the business;

• The business is facing an immediate threat of adverse action; or

• The REIT has tried repeatedly to contact the IRS but no one has responded, or the IRS hasn’t responded by the date promised.

TAS has offices in every state, the District of Columbia, and Puerto Rico. Local advocates’ numbers are in their local directories and at TaxpayerAdvocate.IRS.gov . The REIT can also call TAS at 877-777-4778.

TAS also works to resolve large-scale or systemic problems that affect many taxpayers. If the REIT knows of one of these broad issues, please report it to TAS through the Systemic Advocacy Management System at IRS.gov/SAMS .

For more information, go to IRS.gov/Advocate .