om 4466

Corporation Application for Quick Refund
of Overpayment of Estimated Tax

OMB No. 1545-0170

1983

Department of the Treasury For calendar year 1983 or other tax year beginning
Internal Revenue Service .. 1983 ending ..............---------) 19... 2.
Name Employer identification number
Number and street Check type of return to be filed:
O Form 1120
City or town, State, and ZIP code oO Form 1120F
CO. Form 11201
Note: Prepare this form in duplicate. File the original with the Internal Revenue Service Center where you file your tax G1 Form 1120M
return. Attach the duplicate to your income tax return. ( Form 990.¢
1 1983 estimated payments (include 1982 overpayment allowed as a credit against 1983 estimated tax) 1
2 Entertaxtrom Form 1120, Schedule J, line 6, or comparableline from other returns | _2 ==
3. Tax from recomputing prior year investment credit - : 3
4 Total tax—Add lines 2and3 . : 4
5 Estimated refundable tax credit for Federal taxon n special fuels andoils . 5 =
6 Expected income tax liability—Subtract line 5 from line 4. Le eee : 6
7 Overpayment of estimated tax—Subtract line 6 from line 1. If this amount is at least 10% of line 6 and at least
$500, the corporation is eligible for the quick refund. Otherwise, do not file this form . we 7
Record of Estimated Tax Deposits
Date of deposit Amount Date of 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

Signature

Title

Instructions

(Section references are to the Internal Revenue
Code.)

Paperwork Reduction Act Notice. —
We ask for this information to carry out
the Internal Revenue laws of the United
States. We need it to ensure that
taxpayers are complying 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 fora
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
during the tax year over the final
income tax liability it expects to have
when this application is filed.

If members of an affiliated group
paid their estimated income tax ona
consolidated basis, the common parent
corporation must file the Form 4466. If

members of the group paid estimated
income tax separately, the member
who claims the overpayment must file
Form 4466 separately.

B. When to file.—File Form 4466
within 2¥2 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
refunded.—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
excessive, the law provides an
additional charge upon the excessive
amount. (Section 6655(h).)

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 refund was paid or the credit
was made, until the original due date of
the corporation’s return. The additional
charge is not deductible for income tax
purposes.

Form 4466 (1983)