om 4466

(Rev. October 1986)

Department of the Treasury
Internal Revenue Service

Corporation Application for Quick Refund
of Overpayment of Estimated Tax

For calendar year... ..--

OMB No. 1545-0170

Expires 09-30-88

Name

Employer identification number

Number and street

Check type of return to be filed:

Gity or town, state, and ZIP code

OO Form 1120
CO Form 1120-8
CO Form 1120F

Telephone number (optional)

¢ )

CO Form 11201.
CO Form 1120m

Note: Prepare this form in duplicate. File the original with the Internal Revenue Service Center where the corporation

files its tax return. Attach the duplicate to the corporation's income tax return.

C Form 990-c
(1 Other (See instructions)

Estimated payments for the tax year .

Total—Add lines 1 and 2

Total tax—Add lines 4 and5 .

warvanurswne

Enter tax from Form 1120, Schedule J. ine 6, or comparable line fromother returns
Tax from recomputing prior-year investment credit .

Estimated refundable tax credit for Federal taxon n gasoline and special fuels .
Expected income tax liability—Subtract line 7 from line 6 .
Overpayment of estimated tax—Subtract line 8 from line 3. If this amount is at least 10% of line & and at least $500,

Overpayment from prior year allowed as a credit .

Njojale,

the corporation is eligible for the quick refund. Otherwise, do not file this form.

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

(Section references are to the Internal Revenue
Code.)

Paperwork Reduction Act Notice.—
We ask for this information to carry out
the Internal Revenue laws of 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. Who may file an application. —Any
corporation that overpaid its estimated
tax for the tax year may apply for a
quick refund (adjustment) if the
overpayment is (1) at least 10% of the
expected tax liability and (2) at least
$500.

The overpayment is the excess of the
estimated tax the corporation paid
during the tax year over the final
income tax liability it expects to have
when this application is filed.

If members of an affiliated group
paid their estimated income tax ona
consolidated basis, the common parent
corporation must file the Form 4466. If
members of the group paid estimated
income tax separately, the member

who claims the overpayment must file
Form 4466 separately.

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 Form 1120-FSC
filers. Enter the form number of the
return to be filed in the space below the
“Other” block.

B. When to file.—File Form 4466
within 24% months after the end of the
tax year and before the corporation
files its income tax return. An extension
of time to file the return will not extend
the time for filing Form 4466.

C. How and where to file-—Complete
this form in duplicate. File the original
with the Internal Revenue Service
Center where the corporation will file its
income tax return and attach the

duplicate to the corporation’s tax return.

D. Overpayment credited or
refunded.—Internal Revenue Service
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.

E. Disallowance of application. —The
Internal Revenue Service 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.
F. Excessive refund or credit.—If the
refund or credit is later found to be
excessive, the law provides an
additional charge upon the excessive
amount. (Section 6655(h).)
The excessive amount is the lesser of:
(a) the credit or refund; or
(b) the excess of

(1) the corporation’s income tax

liability (as defined in section

6425(c)) as shown on its return

over

(2) the estimated tax paid less

the refund or credit

IRS will compute the additional

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

Form 4466 (Rev. 10-86)