vm 4466

Department of the Treasury
Internal Revenue Service

For calendar year 1982 or other tax year begi

Corporation Application for Quick Refund
of Overpayment of Estimated Tax

_, 1982 ending .

OMB No, 1545-0170

1982

Name

Employer identification number

Number and street

Check type of return to be filed:

1 Form 1120

City or town, State, and ZIP code 7 Form 1120F
OJ Form 1120L
NOTE: Prepare this form in duplicate. File the original with the Internal Revenue Service Center O Form 1120M
where you file your tax return. Attach the duplicate to your income tax return. (Form 990-C

Computation of Expected Income Tax Liability

1 Enter tax from Form 1120, Schedule J, line 6, or comparable line from other returns .
2 Tax from recomputing prior year investment credit . . . . . . se

3 Total tax—Add lines 1 and 2 .

4 Estimated refundable tax credit for Federal tax on special fuels ‘and oils .
5 Expected income tax liability—Subtract line 4 from line 3... .

Computation of Overpayment of Estimated Tax

6 1982 estimated payments (include 1981 overpayment allowed as a credit against

mated tax) 2. 6 6 ee eee

7 Expected income tax liability from line5. . -

8& Overpayment of estimated tax—Subtract line 7 from line 6. If this amount is at least 10% ot line 7 AND a at least

$500, the corporation is eligible for the quick refund. Otherwise, do not file this form .

1982 esti-

Record of Estimated Tax Deposits

Date of
deposit

Date of

Amount 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.

Date

Title

Instructions

(References are to the Internal Revenue Code.)

Paperwork Reduction Act Notice—The
Paperwork Reduction Act of 1980 says
we must tell you why we are collecting
this information, how we will use it, and
whether you have to give it to us. We ask
for the information to carry out the In-
ternal Revenue laws of the United States.
We need it to ensure that you are comply-
ing 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 dur-
ing the tax year over the final income tax
liability it expects to have when this ap-
plication is filed.

If members of an affiliated group paid
their estimated income tax on a con-
solidated basis, the common parent cor-

poration must file the Form 4466.
members of the group paid estimated in-
come tax separately, the member who
claims the overpayment must file Form
4466 separately.

B. When to file—File Form 4466
within 214 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
your tax return.

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.—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 ex-
cessive, the law provides an additional
charge upon the excessive amount. (Sec-
tion 6655(g).)

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 re-
fund was paid or the credit was made,
until the original due date of the corpora-
tion's return. The additional charge is not
deductible for income tax purposes.

‘Ye US, GOVERNMENT PRINTING OFFICE: 1982—-0-363-176

363-176-1 Form 4466 (1982)