4466 Corporation Application for Quick Refund
Form of Overpayment of Estimated Tax

1972

Department of the Treasury For calendar year 1972 or other taxable year beginning

Internal Revenue Servi . , 1972, ending . 19.

Name Employer Identification Number _

Number and street ” Check type of return to be filec
__ — ( Form 1120

City or town, State, and ZIP code ) Form 1120F

(Form 1120L

NOTE: Prepare this form in duplicate. File the original with the Internal Revenue Service
Center specified in instruction 3. Attach the duplicate to your income tax return.

(1 Form 1120M
1 Form 990-c

PART |.—Computation of Expected Income Tax Liability

1 Taxable income expected in taxable year. . . _

2  Surtax exemption—Enter $25,000 or line 1, whichever is lesser. - (Component members of a controlled

corporate group—see instruction 7 and enter your surtax exemption or line 1, whichever is lesser.) .

Linellessline2. 2 2 2 0 ee

22% oflimel. 2 2 2. ee ee

26% of line 3.

If multiple surtax exemption is elected under section 1562, enter 6% of tine 2.

Total of lines 4, 5 and 6 . :

Enter tax from line 7 or alternative tax from separate Schedule D (see instruction 8).

Tax from recomputing a prior year investment credit

10 Total tax—Add lines 8 and 9. :

11 Estimated foreign tax credit, investment credit, work incentive (WIN) credit, and 1 special fuels, non-
highway gas and lubricating oil tax credit

wonrvanaw

12 Expected income tax liability—Line 10 less line 11. Enter here and on line 2, Part Il.

PART II.—Computation of Overpayment of Estimated Tax

1 1972 estimated tax payments (include 1971 overpayment allowed as a credit against 1972 esti-
mated tax). 2

2 Expected income tax liability for the taxable year. 6... ee ee Le

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

Serial number Date of ‘Amount Serial number Date of
‘of Form 503 deposit ‘of Form 503 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.

The Internal Reve-
nue Service does
not require a seal
form, but

used,

place tt



Instructions

1, Who may file an application.—Any corporation that
has overpaid its estimated tax for the taxable year may file
an application for a quick refund (adjustment) of the over-
payment 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 that the corporation expects to be, at the
time of filing this application, its final income tax liability.
(See section 6425 of the Code.)

If members of an affiliated group paid their estimated
income tax on a consolidated basis, then application on
Form 4466 shall be made by the common parent corpora-
tion. If members of the group paid estimated income tax on
a separate basis, the application shall be made on a sepa-
rate basis by the member which claims the overpayment.

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. An extension of time
to file the return will not extend the time for filing Form
4466.

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 principal
business, office, or agency is
located in

Use this address

v

v

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

Internal Revenue Service Center
1040 Waverly Avenue
11799

Holtsville, New York
Internal Revenue Service Center

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

310 Lowell Street
Andover, Massachusetts 01812

‘Alabama, Florida, Georgia,
Mississippi, South Carolina

Michigan, Ohio

~~“Trternal Revenue Service Center

4800 Buford Highway
Chamblee, Georgia 30006
Internal Revenue Service Center
Cincinnati, Ohio 45298

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

Internal Revenue Service Center
3651 S, Interregional Highway
Austin, Texas 78740

Riaska, Arizona, Colorado,
Idaho, Minnesota, Montana,
Nebraska, Nevada, North
Dakota, Oregon, South Dakota,
Utah, Washington, Wyoming.

Internal Revenue Service Center
1160 West 1200 South Street
Ogden, Utah 84405

illinois, towa, Missouri,
Wisconsin

internal Revenue Service Center
2306 E. Bannister Road
Kansas City, Missouri 64170

California, Hawaii

Internal Revenue Service Center
5045 East Butler Avenue
Fresno, California 93730

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

Internal Revenue Service Center
3131 Democrat Road
Memphis. Tennessee 38110

Delaware, District of Columbia,
Maryland, Pennsylvania

Internal Revenue Service Center
11601 Roosevelt Boulevard
Philadelphia, Pa. 19155

Note: U.S. corporations having a principal place of business
outside the U.S., corporations claiming the benefits

of section 931,

foreign corporations filing Form

1120F, and organizations filing Form 990-C, should
file Form 4466 with the Internal Revenue Service

Center,
Pennsylvania 19155.

11601 Roosevelt Boulevard, Philadelphia,

‘US, GOVERNMENT PRINTING OFFICE:1972—O-458-136

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 that con-
tains material omissions or errors that cannot be corrected
within the 45-day period. This application does not constitute
aclaim 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% a
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. Surtax exemption for component members of a con-
trolled group of corporations.—Under the provisions of sec-
tion 1561, the surtax exemption for component members
of a controlled group (see section 1563) is either $25,000
divided by the number of component members or that por-
tion of $25,000 determined in accordance with an appor-
tionment plan.

A controlled group may elect under section 1562 to claim
multiple surtax exemptions. However, section 1564 provides
that only one member of the group may claim a full $25,000
surtax exemption with the others being limited to $12,500.

See section 1564 for special rules relating to dividends-
received deduction for corporations that elect multiple sur-
tax exemptions under section 1562.

8. Alternative tax.—lIf 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 (section 1201) to determine if the result-
ing tax is less than the tax computed using the regular
method.

The alternative tax is the sum of (1) a partial tax com-
puted 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 capital loss and (2) 30% of
such excess.

An alternative tax rate of 25%, however, is to apply to

certain binding contracts and installment sales (referred to
as “subsection (d) gains’’).

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

9. Minimum tax on tax preference items.—The minimum
tax under section 56 does not have to be considered for
purposes of this form.

E.t, 25-1110272