Corporation Application for Quick Refund
rom 4466 Of ‘Overpayment of Estimated Tax 1973

Department of the Treasury For calendar year 1973 or other taxable year beginning
Internal Revenue Service

1973, ending _
Name Employer Identification Number
Number and street Check type of return to be filed:
(0 Form 1120
City or town, State, and ZIP code © Form 1120F
(J Form 1120L
NOTE: Prepare this form in duplicate. File the original with the Internal Revenue Service C1 Form 1120M
Center specified in instruction 3. Attach the duplicate to your income tax return. OO Form $90-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 i is lesser. -. (Component members of a controlled
corporate group—see instruction 7 and enter your surtax exemption or line 1, whichever is lesser.) .

3 Linellessline2. 2. 2 2 1 ee ee ee
4 22% oflimel. © 2. we
5 26% of line3.

6 If multiple surtax exemption is elected under section 1562, ¢ enter 6% ‘of Tine 2.
7

8

9

Total oflines4,5and6. . . . . . soe
Enter tax from line 7 or alternative tax from m separate Schedule D D, whichever | is lesser (see instr. 8)

Tax from recomputing a prior year investment credit .
10 Tax from recomputing a prior year work incentive (WIN) credit... . . 1. ee eee
11 Total tax—Add lines 8,9and10. . . . .
12 Estimated foreign tax credit, investment credit, work incentive © (WIN) credit, and special fuels, n non-
highway gas and lubricating oiltaxcredit . . . . 1... ee ee ee

13_Expected income tax liability—Line 11 less line 12. Enter here and online 2,Partll_. . . . .
PART II.—Computation of Overpayment of Estimated Tax

1 1973 estimated tax payments (include 1972 overpayment allowed as a credit against 1973 esti-
mated tax).

2 Expected income tax liability for the taxable year. . 2 1 1 we ee ew ee ee

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

Under penalties of perjury, | declare that | have examined this application, including any accompanying schedules and | The Internal Reve-
statements, and to the best of my knowledge and belief it is true, correct, and complete. nue | Service does
‘on this form, but
if one is used,
please place it
here.

Signature >.



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 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
corporation expects its final income tax
liability to be at the time this applica-
tion is filed. (See section 6425 of the
Code.)

If members of an affiliated group
paid their estimated income tax on a
consolidated basis, the application on
Form 4466 must be made by the com-
mon parent corporation. If members of
the group paid estimated income tax on
a separate basis, the application must
be made on a separate 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 corpora-
tion files its income tax return. An exten-
sion 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 duplicate. File the original
with the Internal Revenue Service Cen-
ter specified below. Attach the duplicate
to your income tax return.

Af the corporation’s. princi-
pal business, office, or
agency is located in

Vv

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

Uso this address

Internal Revenue Service

‘enter

1040 Waverly Avenue

Holtsville, New York
11799

New York (all other Internal Revenue Service
counties), Connecticut,
Maine, Massachusetts,” New
Hampshire, Rhode Island,
Vermont

Alabama, Florida, Georgia,
Mississippi, South Carolina

ter

310 Lowell Street

Andover, Massachusetts
01812

Internal Revenue Service

‘enter
4800 Buford Highway
Chamblee, Georgia 30006

Internal Revenue Service
Center

Cincinnati, Ohio 45298

Internal Revenue Service

Michigan, Ohio

‘Arkansas, Kansas,

Louisiana, New Mexico, Center

Oklahoma, Texas 3651 S. Interregional
Highway

Austin, Texas 78740

Internal Revenue Service

Wiaska, Arizona, Colorado,
Idaho, Minnesota, Center
Montana, Nebraska, Ne- 1160 West 1200 South
vada, North Dakota,
Oregon, Dakota,
Utah, Washington, Wyoming

Street
Ogden, Utah 84201

Instructions

illinois, Towa, Missouri, Internal Revenue Service
Wisconsin renter
2306 E. Bannister Road

Kansas City, Missouri
64170

Californra, Hawaii Tnternai Revenue Service
Center

5045 East Butler Avenue

Fresno, California 93888

internal Revenue Service
Center

3131 Democrat Road

Memphis, Tennessee
38110

indiana, Kentucky, North
Carolina, Tennessee,
Virginia, West Virginia

Delaware, District of
Columbia, Maryland,
Pennsylvania

internal Revenue Service
Center

11601 Roosevelt Boulevard

Philadelphia, Pa. 19155

U.S. corporations having their princi-
pal 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 Cen-
ter, 11601 Roosevelt Boulevard, Phila-
delphia, Pennsylvania 19155.

The separate income tax returns of a
group of corporations located in several
Service Center regions may be filed with
the Service Center in which the princi-
pal office of the managing corporation
that keeps all the books and records is
located.

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

5. 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.

6. Excessive refund or credit.—if
the refund or credit is subsequently de-
termined to be excessive, the law pro-
vides 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 de-
fined in section 6425(c)) as shown on
its return exceeds (2) the estimated tax
paid less the amount of the refund or
credit.

*US GOVERNMENT PRINTING OFFICE:

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 corpora-
tion’s return. The additional charge is
not deductible for income tax purposes.

7. Surtax exemption for component
members of a controlled group of cor-
porations—Under the provisions of
section 1561, the surtax exemption for
component members of a controlled
group (see section 1563) is either $25,-
000 divided by the number of compo-
nent members or that portion of $25,-
000 determined in accordance with an
apportionment plan.

A controlled group may elect under
section 1562 to claim multiple surtax
exemptions. However, section 1564 pro-
vides that only one member of the group
may claim a full $25,000 surtax exemp-
tion with the others being limited to
a reduced amount. For taxable years
beginning in 1973, this reduced amount
is $8,333.

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.—lf 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 capital loss and (2) 30% of such
excess.

An alternative tax rate of 25%, how-
ever, is to apply to certain binding con-
tracts 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.—Do not consider the minimum
tax under section 56 for purposes of
this form.

1974-750-476