om 4466

(Rev. August 1990)

Corporation Application for Quick Refund
of Overpayment of Estimated Tax

OMB No. 1545-0170

Expires 05-31-93,

Department of the Treasury
Internal Revenue Service | Forcalendaryear........... or tax year beginning..... 2.2... 119.2... and ending.....2.2..-. 119.2.
Name ‘A Employer Identification number
Number, street, and room or suite no. (If a P.O. box, see instructions.) B Check type of return to be filed:
OO Form 1120
City or town, state, and ZIP code CO Form 1120-A
OO Form 1120F
Telephone number (optional) Oo Form 1120L
¢ ) C1 Form 1120-PC
Note: Prepare this form in duplicate. File the original with the Internal Revenue Service Center where the O Form 990-¢
corporation files its tax return. Attach the duplicate to the corporation's income tax return. CO Other (see
instructions)
1 Estimated income tax paid duringthe taxyear. . . . . . 1
2 Overpayment of income tax from prior year credited to this year's estimated tax 2
3 Total—Add lines 1 and 2 . 3
4 Enter total tax from Form 1120, Schedule J, line 10, or comparable line from other returns 4
5a Personal holding company tax if any, included inline 4 . 5a
b Estimated refundable tax credit for Federal tax on fuels 5b
6 Add lines 5a and 5b 6
7 Expected income tax liability for the tax year. Subtract line 6 from line 4 q
8 Overpayment of estimated tax. Subtract line 7 from line 3. If this amount is at least 10% of line 7 and at
least $500, the corporation is eligible for the quick refund. Otherwise, do not file this form . _--|8
Record of Estimated Tax Deposits
Date of deposit ‘Amount Date of deposit ‘Amount

Under penalties of perjury, | declare that | have examined this application, including any accompanying schedules and statements, and to the best of my knowledge and

belief, itis true, correct, and complete.

Date Signature Title
Instructions Recordkeeping . . 3hrs.,35 min. Management and Budget, Paperwork
(Section references are to the Internal Revenue Learning about the Reduction Project (1545-0170),

Code.) laworthe form . .12 min. Washington, D.C. 20508. DO NOT send
i the tax form to either of these offices.
Paperwork Reduction Act Notice. —' Preparing and " t
ask for the information on this form rile sending the form Instead, see the instructions below for
toIRS..... 16min, _ information on where to file.

carry out the Internal Revenue laws of the
United States. You are required to give us
this information. We need it to ensure
that you are complying with these laws
and to allow us to figure and collect the
right amount of tax.

The time needed to complete and file
this form will vary depending on
individual circumstances. The estimated
average time is:

If you have comments concerning the
accuracy of these time estimates or
suggestions for making this form more
simple, we would be happy to hear from
you. You can write to both the Internal
Revenue Service, Washington, D.C.
20224, Attention: IRS Reports Clearance
Officer, T:FP; and the Office of

Who may file.-—Any corporation that
overpaid its estimated tax for the tax year
may apply for a quick refund if the
overpayment is:
@ at least 10% of the expected tax liability;
and
e at least $500.
The overpayment is the excess of the
estimated income tax the corporation

Form 4466 (Rev. 8-90)


Form 4466 (Rev. 8-90)

Page 2

paid during the tax year over the final
income tax liability expected for the tax
year, at the time this application is filed.

If members of an affiliated group paid
their estimated income tax ona
consolidated basis or expect to file a
consolidated return for the tax year, only
the common parent corporation may file
the Form 4466. If members of the group
paid estimated income tax separately, the
member who claims the overpayment.
must file the Form 4466.

Type of return to be filed.—Indicate the
type of return to be filed by the
corporation, by checking the applicable
box in Item B.

The “Other” block may be used in
certain cases by S corporations who have
made protective estimated tax payments
in their first taxable year. It may also be
used by corporations who file Forms
1120-DF, 1120-FSC, 1120-H, 1120-ND,
1120-REIT, and 1120-RIC. Enter the
form number of the return to be filed in
the space to the right of the “Other” box,
When to file.-—File Form 4466 before
the 16th day of the third month after the
end of the tax year, but before the
corporation files its income tax return. An
extension of time to file the corporation’s
tax return will not extend the time for
filing Form 4466.

How and where to file. —Complete Form
4466 in duplicate. File the original with
the Internal Revenue Service Center
where the corporation will file its income
tax return and attach the other copy to
the corporation’s tax return.
Address.—Include the suite, room, or
other unit number after the street
address.

If the Post Office does not deliver mail
to the street address and the corporation
has a P.O. box, show the P.O. box
number instead of the street address.

Form 8822, Change of Address, can
be filed to notify IRS of a change of
address that occurs after this form has
been filed.

Overpayment credited or refunded.—
IRS will act on this application within 45
days from the date it is filed, and may
credit the overpayment against any
Internal Revenue tax owed and refund
any balance,

Disallowance of application.—!RS may
disallow, without further action, any
application that contains material
omissions or errors that cannot be
corrected within the 45-day period. Form
4466 does not constitute a claim for
credit or refund.

Excessive refund or credit.—If the
refund or credit is later found to be
excessive, the law provides for an
additional charge upon the excessive
amount. See section 6655(h).

The excessive amount is the lesser of:
1. the credit or refund; or

2. the excess of

a. the corporation's income tax liability

(as defined in section 6425(c)) as

shown on its return; over

b. the estimated tax paid less the

refund or credit.

IRS will compute the additional charge
and bill the corporation. The additional
charge is figured from the date the refund
was paid or credited, until the original
due date of the corporation’s return. The
additional charge is not deductible for
income tax purposes.