Corporation Application for Quick Refund
rm 4466 of Overpayment of Estimated Tax 1968

U.S. Treasury Department For calendar year 1968 or other taxable year beginning
Internal Revenue Service
1968 ending 119
Name Employer Identification Number

1 Form 1120
( Form 1120-F

|
Number and street - : : - | Check type of return to be filed:
|

City or town, State, and ZIP code

( Form 1120-1

NOTE: Prepare this form in duplicate. File the original with the Internal Revenue Service Center
( Form 1120-M

specified in instruction 3. Attach the duplicate to your income tax return.

PART |.—Computation of Expected Income Tax Liability

Taxable income expected in 1968 . So ee Soe
Net long-term capital gain reduced by any net short-term capital loss (it the alternative tax does not apply, enter

y

“zero")

Line 1 less line 2 . . : :
Surtax exemption (line 3, $25,000, or amount apportioned under section 1561, whichever is lesser) .
Line 3 less line 4. woe

Alternative tax on capital gains —25% of line 2.

22% of line 3.

26% of line 5 . .

If multiple surtax exemption is elected under section 1562, enter 1 6% c ofline4. 2 2 2 ee ee ee
10 Total of lines 6 through 9 . : :

11 Tax surcharge—Enter 10% of line 10 (corporations with taxable years ending after June 30, 1969, see

wananaw

instruction 7) . ar?
12 Tax from recomputing a prior year investment credit .
13 Total tax—Add lines 10, 11, and 12.
14 Estimated foreign tax credit, investment credit, and nonhighway gasoline tax credit .
15 Expected income tax liability—Line 13 less line 14. Enter here and on line 2, Part II .

PART IIl.—Computation of Overpayment of Estimated Tax

1 1968 estimated tax payments (include 1967 overpayment allowed as a credit against 1968 estimated tax) .
2 Expected income tax liability for the taxable year... . 2 2 1 7 ee ee : : .

3 Overpayment of estimated tax—Line 1 less line 2. This amount must be at least 10% of line 2 AND at least
$500. If these tests are not met, the corporation is not eligible for the quick refund and this form should not be filed.

Record of Form 503 (1) Is this application based on a consolidated tax return which
Estimated Tax Deposits you intend tofile?. . . . . . ee ee eee Yes] No Gy

Serial number] Date of Amount | (2) Were your estimated tax payments made on a consolidated
of Form 503 |__ deposit moun basis? 2 2... ee ee ee ee Yes EF] NOE

| If the answer to (1) is “‘Yes’’ and (2) is ‘‘No," attach a schedule showing the
_| name, address, and employer identification number of each member of the affili-
}

ated group and the estimated tax paid by each.

If the answer to (1) is “No” and (2) “Yes,” attach a statement showing the
name, address, and employer identification number of each member of the affili-
ated group, the estimated tax allocated by the common parent corporation to each
member and the method of allocation used.

Under penalties of perjury, | declare that | have examined this application, including any accompanying schedules and state-
ments, and to the best of my knowledge and belief it is true, correct, and complete. CORPORATE
SEAL



Instructions

1. Who may file an application.—Effective for taxable
years beginning in 1968, any corporation which has over-
paid its estimated tax for the taxable year may file an appli-
cation for a quick refund (adjustment) 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 the amount which, at the time of filing this application,
the corporation expects will be its final income tax liability.

NOTE: When claiming credit for estimated tax paid on
your income tax return, enter the total estimated tax paid
less the amount of the refund or credit.

2. When to file—This form must be filed within 214
months after the end of the taxable year and before the
corporation files its income tax return.

3. How and where to file.—Complete this form in dupli-
cate. 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

Use this address

v v
Delaware, District of Internal Revenue Service
Columbia, Maryland, New Center

11601 Roosevelt Boulevard
Philadelphia, Pa. 19155

Internal Revenue Service
Center

4800 Buford Highway

Chamblee, Georgia 30006

Internal Revenue Service
Center
Cincinnati, Ohio 45298

Jersey, Pennsylvania,
Virginia

Alabama, Florida, Georgia,
Mississippi, North Carolina,
South Carolina, Tennessee

Mebane Ohio, West
Virginia

4. Overpayment credited or refunded.—Internal Revenue
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.

5. Disallowance of application.—Internal Revenue may
disallow, without further action, any application which con-
tains material omissions or errors which cannot be corrected
within the 45-day period.

This application does not constitute a claim for credit
or refund.

6. Excessive refund or credit.—If the refund or credit
is subsequently determined to be excessive, the law provides
an additional charge upon the excessive amount.

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 return exceeds (2) the estimated tax
paid less the amount of the refund or credit.

The additional charge is computed at the rate of 6% per
year 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.

7. Tax surcharge.—The 10% tax surcharge for corpora-
tions is effective January 1, 1968. Since it is to expire June
30, 1969, corporations with taxable years ending after that
date must prorate the 10% rate on the basis of the number
of days in their taxable year during which the surcharge
was in effect. (That is, the number of days before July 1,
1969.)

Corporations with taxable years ending after June 30,
1969, may compute their surcharge by multiplying line 10
by the applicable rate in the following table:

San “Internal Revenue Service
Arkansas, Colorado, Kansas, Center

Louisiana, New Mexico, q
Oklahoma, Texas, Wyoming fustin, Texas 73740"

internal Reven! ue Service

1160 West 1200 South

Alaska, Arizona, California,
Hawaii, Idaho, Montana,
Nevada, Oregon, Utah,

d Street

Washington Ogden, Utah 84405
Ilinois, lowa, Nebraska, Internal Revenue Service
North Dakota, South Center

Dakota, Missouri, 2306 E. Bannister Road

Minnesota, Wisconsin Kansas City, Missouri 64170
Connecticut, Maine, Internal Revenue Service
Massachusetts, New Center

Hampshire, New York, 310 Lowell Street

Rhode Island, Vermont Andover, Mass. 01812

NOTE: Foreign corporations are to file this application with
the Director of International Operations, Internal Revenue
Service, Washington, D.C. 20225.

TAXABLE YEAR |
___________} APPLICABLE
Beginning Ending | RATE
in 1968 in 1969 |
Aug. 1 | July 31 | .09150685
Sept. 1 | Aug. 31 | .08301370
Oct. 1 Sept. 30. | .07479452
Nov. 1 | Oct. 31 | .06630137
Dec. 1 | Nov. 30 .05808219

If the corporation prefers, the surcharge may be com-
puted using the following formula:

Number of days in taxable year before 7/1/69

9
Amount on tine 10 x 10% x Number of days in taxable year

Corporations which have a 52-53 week taxable year which
ends after June 30, 1969, must use the formula to compute
their surcharge.

US. GOVERNMENT PRINTING OFFICE. 1968—O-318-034