Corporation Application for Quick Refund
rm 4466 of Overpayment of Estimated Tax 1976

Department of the Treasury For calendar year 1976 or other taxable year beginning
Internal Revenue Service

1976, ending 119
Name Employer Identification Number
Number and street Check type of return to be filed:
(CO Form 1120
City or town, State, and ZIP code CJ Form 1120F
( Form 1120L
NOTE: Prepare this form in duplicate. File the original with the Internal Revenue Service Center (7 Form 1120M
specified in instruction C. Attach the duplicate to your income tax return. (7) Form 990-C

Computation of Expected Income Tax Liability

1 Taxable income expected intaxableyear. . . . . oo

2 > Enter line 1 or $25,000, whichever is lesser. (Members of a 3 controlled g group, see 2 instructions) .

3 Linmellessline2 . 2. 6 1 we ee ee as oe

4 Enter line 3 or $25,000, whichever is lesser. (Members of a 3 controlled g group, see instructions)

5 Line3lessline4 2. we ew ee ee

6 2%ofline2 2. ww ww ee ee

7 22%ofline4 ©. 6 ww ee ee

B 48% ofline5S ~ 6. ee

9 Total of lines 6,7,and8 . . . . . soe ee eee

10 Enter tax from line 9 or alternative tax from separate § Schedule D, whichever is lesser (see instruction H) .

11 Tax from recomputing a prior year investment credit. © 2 6 6 6 6 ee ee ee ee

12 Tax from recomputing a prior year work incentive (WIN) credit. . 2... 2 1. ee eee

13 Total tax—Add lines 10,11,and12  . . . soe ee sone

14 Estimated foreign tax credit, investment credit, win credit, and special fuels, nonhighway g gas and lubri-
cating oiltaxcredit 2 6 6 6 ee ee

15 Expected income tax liability—Line 13 less line 14. Enter here and on line 2, Part I!

Part Il Computation of Overpayment of Estimated Tax

1 1976 estimated tax payments (include 1975 overpayment allowed as a credit against 1976 estimated tax)

2 Expected income tax liability for the taxable year... Loe

3 > Overpayment of estimated tax—Line 1 less line 2. Unless this amount is at least 10% of line 2 AND
at least $500, the corporation is not eligible for the quick refund and this form should not be filed...

Record of Form 503 Estimated Tax Deposits

Date of Amount Date of ‘Amount Date of

deposit deposit 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 it is
true, correct, and complete.

Signature ~ Title



Instructions

(References are to the Internal Revenue Code.)

A. Who may file an application.—Any
corporation that has overpaid its estimat-
ed tax for the taxable year may file an
application for a quick refund (adjust-
ment) of the overpayment if it is (1) at
least 10% of the expected tax liability
AND (2) at least $500.

The overpayment is the excess of the
estimated tax paid over what the corpora-
tion expects its final income tax liability
to be at the time this application is filed.
(See section 6425.)

If members of an affiliated group paid
their estimated income tax on a con-
solidated basis, the application on Form
4466 must be made by the common par-
ent corporation. If members of the group
paid estimated income tax on a separate
basis, the application must be made ona
separate basis by the member which
claims the overpayment.

B. When to file.—This form must be
filed within 214 months after the end of
the taxable year and before the corpora-
tion files its income tax return. An ex-
tension 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
specified below. Attach the duplicate to
your income tax return.

If the corporation's princi-

pal business, office, or
agency is located in

4

Use this address

Internal Revenue Service

enter
1040 Waverly Avenue
Holtsville, New York

New Jersey, New York City
and counties of Nassau,
Rockland, Suffolk, and
Westchester

New York (all other
counties), Connecticut,
Maine, Massachusetts, New
Hampshire, Rhode Island,
Vermont

Internal Revenue Service

Center

310 Lowell Street

Andover, Massachusetts
01813

‘Alabama, Florida, Georgia, Internal Revenue Service
Mississippi, South Carolina Center

4800 Buford Highway
Chamblee, Georgia 30006

Michigan, Ohio Internal Revenue Service

Center.
Cincinnati, Ohio 45298

Arkansas, Kansas,
Louisiana, New Mexico,
Oklahoma, Texas

Internal Revenue Service
enter

3651 S. Interregional
ighway

Austin, Texas 78740

Alaska, Arizona, Colorado, Internal Revenue Service
Idaho, Minnesota
Montana, Nebraska, Ne-
vada. North Dakota, Street
Oregon, South Dakota, Ogden, Utah 24201
Utah, Washington, Wyoming

Center
1160 West 1290 South

nal Revenu

Center

2306 E. Bannister Road

Kansas City, Missouri
64170

linois, |
Wisconsin

California, Hawaii

Tnternal Revenue Service

‘enter
9045 East Butler Avenue
sno, California 93888

Indiana, Kentucky, North
Carolina, Tennessee,
Virginia, West Virginia

internal Revenue Service
Center
3131 Democrat Road

Memphis, Tennessee
38110

Delaware, District of internal Revenue Service
Columbia, Maryland, enter
Pennsylvania 11601 Roosevelt Boulevard

Philadelphia, Pa.

U.S. corporations having their princi-
pal place of business outside the U.S.,
corporations claiming the benefits of sec-
tion 936, foreign corporations filing Form
1120F, and organizations filing Form
990-C, should file Form 4466 with the
Internal Revenue Service Center, 11601
Roosevelt Boulevard, Philadelphia, Penn-
sylvania 19155

If the separate income tax returns of a
group of corporations located in several
Service Center regions will be filed with
the Service Center for the area in which
the principal office of the managing cor-
poration that keeps all the books and
records is located, then such corporations
should file Form 4466 with that Service
Center.

D. Overpayment credited or  re-
funded.—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.—in-
ternal Revenue may disallow, without
further action, any application that con-
tains material omissions or errors that
cannot be corrected within the 45-day
period. This application does not con-
stitute a claim for credit or refund.

F. Excessive refund or credit.—lf the
refund or credit is subsequently de-
termined to be excessive, the law provides
an additional charge upon the excessive
amount. (Section 6655(g).)

The excessive amount is the lesser
of (a) the amount of the credit or refund
or (b) the amount by which (1) the cor-
poration’s income tax liability (as defined
in section 6425(c)) as shown on its re
turn exceeds (2) the estimated tax paid
less the amount of the refund or credit.

The additional charge is computed
from the date the refund was paid or
credit was made to the original due date
of the corporation's return. The additional
charge is not deductible for income tax
purposes.

G. Surtax exemption for component
members of a controlled group of cor-
porations.—For members of a controlled
group, the $50,000 surtax exemption is
to be divided equally unless the group
consents to split up the exemption in ac-
cordance with an apportionment plan.
Accordingly, for purposes of lines 2 and
4, members of a controlled group will
enter one-half of their surtax exemption
on line 2 and the remaining one-half on
line 4. For example, if there are 5 mem-
bers and they allocate the $50,000 sur-
tax exemption equally (ie. $10,000
each), each member will enter on line 2,
one-half of $10,000 i.e. $5,000, and on
line 4, the remaining one-half of the
surtax exemption, i.e. $5,000. See sec-
tion 1561 and the regulations thereunder
for the time and manner of making the
consent.

H. Alternative tax.—If the net long-
term capital gain exceeds the net short-
term capital loss, or if there is only a
net long-term capital gain, compute the
tax using the alternative method (sec-
tion 1201) to determine if the resulting
tax is less than the tax computed using
the regular method

The alternative tax is the sum of (1) a
partial tax computed at the normal tax
and surtax rates on the taxable income
decreased by the excess of net long-term
capital gain over any net short-term capi-
tal loss and (2) 30% of such excess.

For further details and a computation
of alternative tax, see Schedule D (Form
1120).

I. Minimum tax on tax preference
items.—Do not consider the minimum
tax under section 56 for purposes of this
form.