row 1138 Exteitsion of Time for Payment of Taxes by a
evoacbwri9e4 | Corporation Expecting a Net Operating Loss Carryback | SM?" 15:59

internal Reverse Soren” (Under Section 6164 of the Internal Revenue Code)

Name Employer Mentiticatlon number

‘Number and street

City or town, State, end ZIP code

1 Tax year of expected net operating loss: Tax vear ended 2 Estimated amorint of expacted net operating loss
$
3 Amount of reduction of tax previously determined (reduction sttributable to the expected carryback and any
related adjustments) (attach schedule), . - . . . . - wee eg

4 Tax year immediately preceding the tax year of the expected net operating lace: fax ayearendad

5 Give the reasons, facts, and circumstances that cause the cot poration to expect 2 net operating loss.

6 Computation of Amount for Which Payment Is To Be Extended

a Enter total of tax shown un return as filed plus any amount assessed as a deficiency (or as interest or penalty) tefor?
the date of filing this form (see instructions)

b Enter total of taxes and rebates as specified in the instructions for line 6b .

¢ Amount of tax for which Bayment Is io be extended—Subtract line b from linea. (Co. not enter more than the amourt
‘on line 3 above) Sareea oa . -

Signature

Under penalties of perjury, | dectare that | have exemined this form. including any accompanying schedules and statements, and to the best of my knowledge and belief it's true,
correct, and complete.

Date 7" Sighature of ofhcer Title

For Paperwork Reduction Act Notice, see instructions on back of form. Form 1138 (Rev 10.84)


Form’ £138 (Rev: 10-84)

Page 2

General Instructions

(Section references are to the Irternal Revenue Code, unless
otherwise noted.)

Paperwork Reduction Act Motice.—We ask for this information
to carry out the Internal Revenue laws o: the United States. We
need it to ensure that taxpayers are complying with these laws
and to allow us to figure and collect the right amount of tax. You
are required to give us this information.

A. Purpose of form.—This form permits a corporation that
expects a net operating loss for the current year to get an
extension of time te pay all or part of its income tax for the
preceding year. Do net file this form if the tax for the preceding
year has been paid or waz required to have been paid (e.g. time
for payment and extensions have expired).

The amount postponed may not be more than the reduction in
tax that the carryback of the net operating loss will make.

The extension is only for amounts not required to be paid before
the date this forn:is filed

B. Where to tile. —File this form with the Internal Revenue
Service Center where the corporation is required to file its income
tax return,

If the corporation's principal

business, office, or agency
is located in

v v

Use the following Internal
Revenue Service Center
address

New Jersey, New York City and
‘counties of Nassau, Rockland,
Suftolk, and Westchester

Holtsvilie, NY 00501

New York (ail other counties), Connecticut,
Maine, Massacnusetts, New Hampshire,
Rhode Island. Vermont

Andover, MA 05501

Alabama, Flonda, Georgia,

Misstssippt, South Carolina Atanta, GA 31101

Michigan, Ohio Concinnats, OH 45999

Arkansas, Kansas, Louisiana,

New Mexico, Oklahoma, Texas Austin, TX 73301

Alaska, Arizona, Colorado, Idaho,
Minnesota, Mantana, Nebraska,

Nevada, Noith Dakota, Oregon,

South Dakota, Utah, Washington, Wyoming

Ogden, UT 84201

Winois lowa, Missouri. Wisconsin Kansas City. MO 64999

Fresna,CA 93888

Caltornia, Hawaii

Indiana, Kentucky, North Carolina,

: 7
Tennessee, Virginia, West Virginia Memphis, TN 37501

Delaware, Distrct of Coluinbia, Philadelphia, PA 19255

Maryland, Pennsylvania

C. Time for filing.—-File this form within the tax year of the
expected net operating loss but before the tax to be postponed for
the preceding year is required to be paid.

D, Estimated amount of expected net operating loss.—A
corporation may postpone the time to pay its previous year's
income tax only if it expecs to have a net operating loss. The
estimate of the loss must be based upon all the facts relating to
the operations of the corporation. Among the things to be
considered are sucit items as: number and dollar amounts of the
corporation's Government contracts that have been cancelled;
profit and loss statements; and other factors pecular to the
corporation's operations. The corporation ts responsible for the
accuracy of the estimate.

E. Revised forms,—If a corporation files a Form 1138 to replace
one that it previously filed for the same tax year, it may file a
revised form as if it were a new one.

The new or revised form may extend the time to pay ar amount
different fram the amount in the old form. If the amount extended
under the new or revised form is less than the amount under the
ald form, the extension is terminated for the difference between
the two amounts on the date the revised form is filed.

F. Termination of extersion.—IRS may terminate the extension
for any amount if it believes that any part of the form is erroneous
‘or unreasonable. IRS may also terminate the extension if it
deheves it may not be able to collect the tax.

G. Period of extension.—In general. the extension for paying the
tax expires at the end of the month in which the return for the tax
year of the expected net operating loss is required to be filed
(including extensions).

The time for payment may be further extended. If tne
corporation files Form 1139, Corporation Application for
Tentative Refund, before the period of extension ends, the time of
payment is extended to the dave when IRS tells the corporation
that it has allowed or disaliowed its application.

H. Interest.—Interest is cha:ged on postponed amounts from the
dates on which the payments would normally be due. The interest
charge is at the rate specified in section 6621.

Specific instructions

The following instructions arc numbered to correspond with the
fine numtyrs on this form.

Line 3.—Enter the amount of the reduction of the previously
determined tax. This is the decrease that is figured by taking mto
account the carryback and any related adjustments. Form 1120,
U-S. Corporation Income Tax Return, or Form 1120-A, U.S.
Short-Form Corporation Income Tax Return, and instructions for
the applicable year will help you figure the net operating loss
deduction and recompute the tax, Also see section 172

In general, the previously determined tax Is the tax shown on
‘the prior year return, plus amounts assessed as deficiencies
before Form 1138s filed and reduced by abatements. credits. or
refunds allowed or made before Form 1138 1s fied.

Line 6a.—Enter the total of (1) tox shown on the return as filed,
plus (2) any amount assessed as a deficiency required to be paid
before the date this form is filed. Such a deficiency exists if the
10th day after the notice and demand for its payment occurs
before the filing date.

Line 6b.—Fnter the total of the following’

(2) The amount of tax that was paid or required to be paid before
the date this form is filed This includes any late installment.
An amount of tax for which the corporation has received an
extension of time to pay (under section 6161) is not
considered requir'< te be paid before the end of the
extension,

(2) The amount of rebates (as defined in section 621 1(b)) made
before the date of filing this form