Instructions for Form 1139 (Rev. August 2006)

Transcription

1 Instructions for Form 1139 (Rev. August 2006) Corporation Application for Tentative Refund Department of the Treasury Internal Revenue Service Section references are to the Internal Waiving the NOL Carryback Qualified new members of a Revenue Code unless otherwise noted. Period consolidated group. The general rule above applies to the time for What s New A corporation can elect to carry an filing of Form 1139 by a consolidated The domestic production activities NOL forward instead of first carrying it group. However, for this purpose, a deduction under section 199 is not back. Make this election by attaching separate return year of a qualified allowed in figuring a corporation s a statement to a timely filed tax return new member (see below) that ends NOL. See page 2 of the instructions. (including extensions) for the tax year on the date of joining the new group For tax years ending after 2005 of the NOL indicating that the is treated as ending on the same date and before 2009, certain electric corporation is electing to relinquish as the end of the tax year of the utility companies that make capital the entire carryback period under consolidated group that includes the expenditures in electric transmission section 172(b)(3) for any NOLs date of the end of the separate return property or certified pollution control incurred in that tax year. year. If this special treatment applies, facilities can elect to use a 5-year If the corporation timely filed its see the instructions for line 5 on page carryback period for net operating return for the loss year without 5. A new member of a consolidated losses (NOLs) arising in tax years making the election, it can make the group is a qualified new member if ending in 2003, 2004, or See election on an amended return filed immediately prior to becoming a new page 3 of the instructions. within 6 months of the due date of the member either: A corporation can elect to treat a loss year return (excluding It was the common parent of a qualifying public utility casualty loss extensions). Attach the election to the consolidated group, or as a Gulf Opportunity Zone (GO amended return and write Filed It was not required to join in the Zone) public utility casualty loss. See pursuant to section on filing of a consolidated return. page 3 of the instructions. the election statement. File the A loss attributable to qualified amended return at the same address Where To File timber property can be treated as a the original return was filed. Once File Form 1139 with the Internal farming loss subject to a 5-year made, the election is irrevocable. Revenue Service Center where the carryback period if any portion of the corporation files its income tax return. property is located in the GO Zone, When To File Rita GO Zone, or Wilma GO Zone. Generally, the corporation must file Do not file Form 1139 with the See page 3 of the instructions. Form 1139 within 12 months of the! corporation s income tax CAUTION A 5-year carryback period applies end of the tax year in which an NOL, return. to any portion of an NOL that is a net capital loss, unused credit, or qualified GO Zone loss. See page 4 claim of right adjustment arose. What To Attach of the instructions. For an NOL that is a loss of an Attach to Form 1139 copies of the Certain corporations can elect to electric utility company arising in tax following, if applicable, for the year of use Form 1139 to deduct a public years ending in 2003, 2004, or 2005, the loss or credit. utility property disaster loss the corporation is allowed an The first two pages of the attributable to Hurricane Katrina in additional 24 months to file Form corporation s income tax return. the 5th tax year preceding the year of All Forms 8271, Investor Reporting the loss. The election must be made of Tax Shelter Registration Number, no later than December 20, An exception also applies for attached to the corporation s tax See page 5 of the instructions. corporations filing Form 1139 to claim return. a tentative refund under section All other forms and schedules from 1400N(o). See page 5 of the General Instructions which a carryback results (for instructions. example, Schedule D (Form 1120), Purpose of Form The corporation must file its Form 3800, etc.). A corporation (other than an S! income tax return for the tax Also attach to Form 1139: CAUTION corporation) files Form 1139 to apply year no later than the date it All carryback year forms and for a quick refund of taxes from: files Form schedules for which items were The carryback of an NOL, If the corporation filed Form 1138, refigured. The carryback of a net capital loss, Extension of Time for Payment of Form 8302, Electronic Deposit of The carryback of an unused Taxes by a Corporation Expecting a Tax Refund of $1 Million or More. general business credit, Net Operating Loss Carryback, it can Electronic deposits can be made only The election to deduct a public get an additional extension of time to for a carryback year for which the utility property disaster loss under pay. To do so, file Form 1139 by the refund is at least $1 million. Attach a section 1400N(o), or last day of the month that includes separate form for each such An overpayment of tax due to a the due date (including extensions) carryback year. claim of right adjustment under for filing the return for the tax year Any statement required to make a section 1341(b)(1). from which the NOL carryback arose. valid election (for example, elections Cat. No X

2 under sections 172(b)(1)(I), an amended return within 3 years 1400N(j)(5), or 1400N(o)). after the date the return was due for An eligible loss; or An excess interest loss. Processing the Application capital loss, or unused credit arose Specified Liability Losses The IRS will process this application (or, if later, the date the return for that Generally, a specified liability loss is within 90 days of the later of: year was filed). a loss arising from: The date the corporation files the Corporations must file Form 1120X 1. Product liability, complete application, or (or other amended return) instead of 2. An act (or failure to act) that The last day of the month that Form 1139 to carry back: occurred at least 3 years before the includes the due date (including A prior year foreign tax credit beginning of the loss year and extensions) for filing the corporation s released due to an NOL or net capital resulted in a liability under a federal income tax return for the year in loss carryback, or or state law requiring: which the loss or credit arose (or, for A prior year general business credit a. Reclamation of land, a claim of right adjustment, the date released because of the release of b. Decommissioning of a nuclear of the overpayment under section the foreign tax credit. power plant (or any unit thereof), 1341(b)(1)). c. Dismantling of a drilling The payment of the requested For details, see Rev. Rul , platform, refund does not mean the IRS has C.B d. Remediation of environmental the tax year in which an NOL, net accepted the application as correct. If The procedures for processing an contamination, or the IRS later determines the claimed amended return and Form 1139 are e. Payment under any workers deductions or credits are due to an different. The IRS is not required to compensation act. overstatement of the value of process an amended return within 90 property, negligence, disregard of days. However, if we do not process Any loss from a liability arising rules, or substantial understatement it within 6 months from the date a from 2a through 2e, above, can be of income tax, the corporation may be corporation files it, the corporation taken into account as a specified assessed penalties. Interest is also can file suit in court. If we disallow a liability loss only if the corporation charged on any amounts erroneously claim on an amended return and the used an accrual method of refunded, credited, or applied. corporation disagrees with that accounting throughout the period in determination, the corporation must which the act (or failure to act) The IRS may need to contact the file suit no later than 2 years after the occurred. For details, see section corporation or its authorized date we disallow it. 172(f). representative for more information. To designate an attorney or To the extent an NOL is a Definitions and Special representative, attach Form 2848, specified liability loss, the carryback Power of Attorney and Declaration of Rules period for that part of the NOL is Representative, to Form For corporations, a net operating loss generally 10 years. (NOL) is the excess of the deductions However, the corporation can Disallowance of the allowed over gross income, computed make an irrevocable election to figure Application with the following adjustments. the carryback period for a specified An application for a tentative refund is The NOL deduction for an NOL liability loss without regard to the not treated as a claim for credit or carryback or carryover from another special 10-year carryback rule. To refund. It may be disallowed if there year is not allowed. make the election, attach to the are any material omissions or math The dividends-received deductions corporation s timely filed tax return for errors that are not corrected within for dividends received from domestic the loss year a statement that the the 90-day period. If the application is and foreign corporations and for corporation is electing to have the disallowed in whole or in part, no suit dividends received on certain carryback period for the NOL under challenging the disallowance may be preferred stock of a public utility are section 172(b)(1)(C) determined brought in any court. But the computed without regard to the without regard to the special 10-year corporation can file a regular claim for limitation on the aggregate amount of carryback rule. If the corporation credit or refund. See Filing Form deductions under section 246(b). timely filed its tax return without 1120X or Other Amended Return The dividends-paid deduction for making the election, it can make the below. dividends paid on certain preferred election on an amended return filed stock of a public utility is computed within 6 months of the due date of the Excessive Allowances without regard to the limitation under return (excluding extensions). Attach Any amount applied, credited, or section 247(a)(1)(B). the election to the amended return refunded based on this application The domestic production activities and write Filed pursuant to section that the IRS later determines to be deduction under section 199 is not on the election excessive may be billed as if it were allowed. statement. File the amended return at due to a math or clerical error on the The carryback period for an NOL the same address used for the return. generally is 2 years. Special rules original return. (discussed below) apply to the portion Gulf Opportunity Zone (GO Zone) Filing Form 1120X or Other of an NOL attributable to: public utility casualty losses. A Amended Return A specified liability loss; corporation can make an irrevocable A corporation can get a refund by A farming loss; election to treat a qualifying public filing Form 1120X (or other amended Certain losses of an electric utility utility casualty loss as a GO Zone return, such as an amended Form company arising in tax years ending public utility casualty loss. A GO Zone 1120-PC) instead of Form in 2003, 2004, or 2005; public utility casualty loss is treated Generally, the corporation must file A qualified GO Zone loss; as a product liability loss in -2-

3 determining the amount of the However, the corporation can 2. Did not hold more than 500 corporation s specified liability loss to make an irrevocable election to figure acres of qualified timber property on which the 10-year carryback period the carryback period for a farming the applicable date above. applies. loss without regard to the special A qualifying public utility casualty 5-year carryback rule. To make this See Pub for the list of loss is any casualty loss of public election, attach to the corporation s counties and parishes located in the utility property (as defined in section timely filed tax return for the loss year GO Zone, Rita GO Zone, and Wilma 168(i)(10)) located in the GO Zone if: a statement that the corporation is GO Zone. The loss is allowed as a deduction electing to have the carryback period for the NOL under section Certain Losses of Electric under section 165, and 172(b)(1)(G) determined without Utility Companies Arising in The loss is by reason of Hurricane regard to the special 5-year carryback Tax Years Ending in 2003, 2004, Katrina. rule. If the corporation timely filed its or 2005 See section 1400N(j) for more tax return without making the For tax years ending after 2005 and details. Also, see Pub. 4492, election, it can make the election on before 2009, an electric utility Information for Taxpayers Affected by an amended return filed within 6 company that makes capital Hurricanes Katrina, Rita, and Wilma, months of the due date of the return expenditures in electric transmission for a list of counties and parishes (excluding extensions). Attach the property or certified pollution control included in the GO Zone. election to the amended return and facilities can elect to use a 5-year To make the election, attach to the write Filed pursuant to section carryback period for NOLs that arise corporation s timely filed tax return for on the election in tax years ending in 2003, 2004, or the loss year a statement that the statement. File the amended return at A corporation qualifies as an corporation is electing to treat any the same address used for the electric utility company if: qualifying public utility casualty loss original return. With regard to electric transmission as a GO Zone public utility casualty Certain losses attributable to property, the corporation uses the loss under section 1400N(j)(2)(C). If qualified timber property located in property to transmit at 69 or more the corporation timely filed its tax hurricane zones. Income and kilovolts electricity for sale, or return without making the election, it deductions attributable to qualified With regard to certified pollution can make the election on an timber property (as defined in section control facilities, the corporation is an amended return filed within 6 months 194(c)(1)) are treated as attributable electric utility company within the of the due date of the return to a farming business if any portion of meaning of section 2(3) of the Public (excluding extensions). Attach the the property is located in the GO Utility Holding Company Act as in election to the amended return and Zone, Rita GO Zone, or Wilma GO effect just prior to its repeal. write Filed pursuant to section Zone, and the income and deductions on the election For any election year, the are allocable to the part of the statement. File the amended return at corporation can make an election for corporation s tax year which is after the same address used for the one or more of the eligible loss years the following applicable date and original return. Once made, the for which the corporation has not before January 1, election is irrevocable for that tax made a previous election. The year. 1. August 27, 2005, if any portion corporation can make only one of the property is located in the GO election for a loss year (for example, If the corporation elects to Zone. only one election for an NOL incurred! treat a qualifying public utility 2. September 22, 2005, if any in 2003). For any election year, the CAUTION casualty loss as a GO Zone portion of the property is located in maximum amount of loss year NOLs public utility casualty loss, it cannot the Rita GO Zone (but not in the GO that can qualify for the 5-year also take the loss into account in Zone). carryback period under this special determining the portion of the 3. October 22, 2005, if any portion election is limited to 20 percent of the corporation s NOL that qualifies for of the property is located in the Wilma corporation s qualifying investment the 5-year carryback period as a GO Zone (but not in the GO Zone or made in the tax year prior to the qualified GO Zone loss (discussed the RITA GO Zone). election year. For this purpose, a later under Qualified Gulf Opportunity qualifying investment is the sum of Zone (GO Zone) Loss). The However, these rules apply only to the corporation s electric transmission corporation also cannot elect to a timber producer who: property capital expenditures and deduct the loss as a disaster loss 1. Held qualified timber property certified pollution control facility occurring in a prior tax year under (defined in Pub. 535, Business capital expenditures. The election sections 1400N(o) or 165(i). Expenses) on the applicable date years generally include any tax year Farming Loss below: ending after 2005 and before a. August 28, 2005, if any portion However, if more than one tax year A farming loss is the smaller of: of the property is located in the GO begins in the same calendar year, the 1. The amount that would be the Zone, corporation can treat only one of NOL for the tax year if only income b. September 23, 2005, if any those tax years as an election year. and deductions attributable to farming portion of the property is located in To make this election, include the businesses (as defined in section the Rita GO Zone (but not in the GO loss on line 1a. Attach a statement 263A(e)(4)) were taken into account, Zone), or that specifies the election year, the or c. October 23, 2005, if any portion loss year(s) to which the election 2. The NOL for the tax year. of the property is located in the Wilma applies, and the amount of qualifying To the extent the NOL is a farming GO Zone (but not in the GO Zone or investment in the tax year prior to the loss, the carryback period is 5 years. the Rita GO Zone); and election year. If the election applies to -3-

4 more than one loss year, include a election on an amended return filed the carryback on line 1a. Attach any schedule on the statement allocating within 6 months of the due date of the statements required. See What To the 20-percent investment limitation return (excluding extensions). Attach Attach on page 1. among the losses. For more the election to the amended return information and special rules, see and write Filed pursuant to section Line 1b Net Capital Loss A net capital loss can be carried back 3 years and treated as a short-term Qualified Gulf Opportunity Zone the same address used for the capital loss in the carryback year. The (GO Zone) Loss original return. net capital loss can be carried back A qualified GO Zone loss is the If a qualified GO Zone only to the extent it does not increase smaller of: or produce an NOL in the tax year to! casualty loss (listed in a, 1. The NOL for the tax year which it is carried. For special rules CAUTION above) is taken into account in reduced by any specified liability loss, computing an NOL that is treated as for capital loss carrybacks, see or a qualified GO Zone loss, such section 1212(a)(3). 2. The total of the following casualty loss cannot also be deductions (to the extent they are Line 1c Unused General deducted as a disaster loss occurring taken into account in computing the in a prior tax year under section Business Credit NOL for the tax year). 165(i). If a tentative refund is claimed based section 172(b)(1)(I) on the election statement. File the amended return at a. Qualified GO Zone casualty on a carryback of an unused general Eligible Loss losses (as defined in section business credit (GBC), attach a copy 1400N(k)(3)). To the extent the NOL is an eligible of the appropriate credit form for the b. Moving expenses paid or loss, the carryback period is 3 years, tax year in which the credit arose. incurred after August 27, 2005, for but only if the corporation meets the Except as provided in section 39(d), the employment of an individual gross receipts test of section 448(c) an unused GBC can be carried back whose main home was in the GO or is engaged in the trade or business 1 year (3 years if the GBC arose in a Zone before August 28, 2005, who of farming (as defined in section tax year beginning before 1998). was unable to remain in that home 263A(e)(4)) for the loss year. Refigure the credit for the carryback because of Hurricane Katrina, and For a corporation, an eligible loss year on any of the following forms whose main job with the corporation is any loss attributable to a and attach it to Form (after the move) is in the GO Zone; Presidentially declared disaster (as Form 3800, General Business c. Temporary housing expenses defined in section 1033(h)(3)). Credit. paid or incurred after August 27, Farming losses and qualified GO Form 8844, Empowerment Zone 2005, to house employees of the Zone losses are not eligible losses. and Renewal Community corporation whose main job location Only the eligible loss portion of the Employment Credit. is in the GO Zone; NOL can be carried back 3 years. Form 8884, New York Liberty Zone d. Depreciation or amortization Business Employee Credit (for allowable for any qualified GO Zone Excess Interest Loss carryback years beginning before property (as defined in section If the corporation has a corporate 2005). 1400N(d)(2)) for the year placed in equity reduction transaction, a Form 6478, Credit for Alcohol Used service (even if an election was made different carryback period may apply. as Fuel (for carryback years not to claim a special depreciation See section 172(b)(1)(E). beginning in 2005). (Refigure the allowance for such property); and alcohol fuel credit on Form 3800 for e. Repair expenses (including carryback years beginning before expenses for the removal of debris) Specific Instructions 2005.). paid or incurred after August 27, Section B of Form 8835, 2005, for any damage from Hurricane Address Renewable Electricity, Refined Coal, Katrina to property located in the GO Include the room, suite, or other unit and Indian Coal Production Credit (for Zone. number after the street address. If the carryback years beginning in 2004). Post Office does not deliver mail to The portion of an NOL that is a Line 1d Other the street address and the qualified GO Zone loss can be carried corporation has a P.O. box, enter the Complete line 1d if Form 1139 is filed back 5 years. box number instead of the street to claim a tentative refund based on A corporation can make an address. either of the following. irrevocable election to figure the A public utility property disaster If the corporation receives its mail carryback period for a qualified GO loss deducted under section in care of a third party (such as an Zone loss without regard to the 1400N(o) (described below). accountant or an attorney), enter on special 5-year carryback rule. To An overpayment of tax due to a the street address line C/O followed make the election, attach to the claim of right adjustment under by the third party s name and street corporation s timely filed tax return for section 1341(b)(1). See the address or P.O. box. the loss year a statement that the instructions for line 28 on page 6. corporation is electing to have the Line 1a Net Operating Loss Election to deduct a public utility carryback period for the NOL under If the corporation is claiming a property disaster loss under section 1400N(k)(1)(A)(i) determined tentative refund based on the section 1400N(o). For tax years without regard to the special 5-year carryback of any of the NOLs ending after August 27, 2005, a carryback rule. If the corporation discussed under Definitions and corporation can elect to deduct a timely filed its tax return without Special Rules for Net Operating disaster loss for public utility property making the election, it can make the Losses (NOLs), include the amount of in the 5th tax year preceding the year -4-

5 of the loss. A loss eligible for this in the filing of a consolidated return, 1120, Schedule J, line 2, was election is any loss with respect to the IRS is required to send the refund increased by deferred tax under public utility property located in the for that year directly to, and in the section 1291, include that amount on GO Zone attributable to Hurricane name of, the common parent (or line 16. Katrina. Public utility property, for this agent designated under Regulations purpose, is defined in section section (d) for the Line 11 Taxable Income 168(i)(10), except that the property is carryback year). See Regulations From Tax Return not required to be used sections (a) and (b). Enter in columns (b), (d), and (f) the predominantly in a rate-regulated If the corporation is filing Form amounts from columns (a), (c), and trade or business for a short tax year created (e), respectively. The corporation can make the when the corporation became a election by filing Form 1139 to claim a qualified new member of a Line 12 Capital Loss tentative refund. Attach a statement consolidated group (see Qualified Carryback indicating that the corporation is new members of a consolidated Enter the capital loss carryback, but making the election under sections group on page 1), the corporation not more than capital gain net 1400N(o) and 165(i) to deduct a must answer Yes on line 5a and income. Capital gain net income is public utility property disaster loss in enter the tax year ending date, name, figured without regard to the capital the 5th preceding tax year. Complete and EIN of the new common parent loss carryback of the loss year or any and attach Form 4684 and, if on line 5b. later year. Attach a copy of Schedule required, Form 4797 for the 5th D (Form 1120) for the carryback year. preceding year. Include the loss on Lines 11 through 27 Enter the amount of the capital loss line 1d. Also, see the instructions for Computation of Decrease in carryback as a positive number on line 13 below. Tax line 12. The corporation can also make the In columns (a), (c), and (e), enter the When carrying over a net capital election by filing a Form 1120X or amount for the applicable carryback loss to a later tax year, reduce the other amended return for the 5th year as shown on your original or amount of the net capital loss that preceding tax year. The corporation amended return or as adjusted by the can be used in the later years by the should attach the same statement IRS. If the IRS has not acted on an amount of the net capital loss and forms described above that are amended return, use the amounts deductions used in the earlier years. attached to Form See Filing from the amended return and attach a For details, see section 1212(a)(1). Form 1120X or Other Amended copy of it with Attachment to Form Return on page written across the top. Line 13 The election must be made by Use columns (a) and (b), (c) and If the corporation is electing to carry December 20, (d), or (e) and (f) to enter amounts back a public utility property disaster before and after carryback for each loss under section 1400N(o) to the An election to deduct a public year to which the loss is carried. Start 5th preceding tax year, enter the! utility property disaster loss in with the earliest carryback year. Use amount of the loss on the dotted line CAUTION the tax year immediately prior the remaining pairs of columns for next to line 13. Subtract the carryback to the tax year of the disaster instead each consecutive preceding year until amount from the total for line 13. See of in the 5th preceding tax year, the loss is fully absorbed. Enter the the instructions for line 1d. cannot be made on Form This ordinal number of years the loss is election must be made by filing the Line 14 NOL Deduction being carried back and the date the corporation s return or Form 1120X carryback year ends in the spaces See Definitions and Special Rules on (or other amended return) for the provided above columns (a) and (b), page 2 to figure the carryback period. prior year and claiming the disaster (c) and (d), or (e) and (f). NOLs are first applied to the earliest loss on it. See Filing Form 1120X or year in the carryback period. Any For example, the loss year is the Other Amended Return, on page 2. unused amount is carried to the next 2005 calendar year and the loss is tax year in the carryback period. Any Line 4 carried back 5 years. Enter 5th and amount not used during the carryback 12/31/00 in the spaces provided Foreign taxes taken as a credit in a period is carried forward up to 20 above columns (a) and (b). After prior year can be reduced to zero by years. making the entries, it reads 5th the carryback of an NOL or a net preceding tax year ended 12/31/00. capital loss on Form A Line 16 Income Tax corporation must file Form 1120X (or Note. Additional Forms 1139 may be In columns (b), (d), and (f), enter the other amended return) instead of needed if the corporation is carrying refigured income tax after taking into Form 1139 to carry back a prior year back an NOL to more than 3 account the carryback(s). See the foreign tax credit released due to an preceding tax years. On the instructions for the corporate income NOL or net capital loss carryback. additional forms, complete lines 11 tax return for the applicable year for See Filing Form 1120X or Other through 27 for each additional details on how to figure the tax. Amended Return on page 2. preceding tax year as necessary. Attach a computation of the refigured Skip lines 1 through 10 and do not tax. Take into account section 1561 Line 5 sign the additional forms. when refiguring the income tax. If the common parent of a When completing lines 16 through Line 17 Alternative consolidated group files Form 1139 to 25, take into account any write-in carry back a loss or credit arising in a amounts that may have appeared on Minimum Tax corporation s separate return year to the original return. For example, for a For columns (b), (d), and (f), refigure a year in which the corporation joined tax year beginning in 2005, if Form the alternative minimum tax. -5-

6 Complete and attach Form 4626 for credits such as the nonconventional OMB control number. Books or the appropriate year. source fuel credit, the possessions records relating to a form or its Carrybacks attributable to qualified tax credit, etc., that will apply in that instructions must be retained as long Gulf Opportunity Zone (GO Zone) year. If any entry is made on line 20, as their contents may become losses. If the corporation carries attach a statement identifying the material in the administration of any back any portion of an alternative tax credits claimed. Internal Revenue law. Generally, tax NOL (ATNOL) based on an NOL returns and return information are Line 24 Other Taxes carryback attributable to qualified GO confidential, as required by section Zone losses (as defined in section For columns (b), (d), and (f), refigure N(k)(2)), the 90%-of-alternative- any other taxes not mentioned above, The time needed to complete and minimum-taxable-income (AMTI) limit such as recapture taxes, that will file this form will vary depending on does not apply to such portion of the apply in that year. If an entry is made individual circumstances. The alternative tax NOL deduction on line 24, identify the taxes on an estimated average time is: (ATNOLD). To determine the attached statement. ATNOLD for the carryback year, see Line 28 Overpayment of Recordkeeping hr., 1 min. section 56(d)(1)(A). Tax Under Section 1341(b)(1) Learning about the law Line 19 General Business or the form... 3 hr., 43 min. For a tentative refund based on an Credit overpayment of tax under section Preparing the form.. 8 hr., 59 min. In columns (b), (d), and (f), enter the 1341(b)(1), enter the overpayment on Copying, assembling, total of the corrected GBCs. Attach all line 28 and attach a computation and sending the form to Forms 3800, 8844, 6478 (for showing the information required by the IRS... 1 hr., 20 min. carryback years beginning in 2005), Regulations section (d) (for carryback years beginning If you have comments concerning in 2004), and 8884 (for carryback Paperwork Reduction Act Notice. the accuracy of these time estimates years beginning before 2005) used to We ask for the information on this or suggestions for making this form redetermine the GBC. form to carry out the Internal simpler, we would be happy to hear Released general business credits. Revenue laws of the United States. from you. You can write to the If an NOL carryback or a net capital You are required to give us the Internal Revenue Service, Tax loss carryback eliminates or reduces information. We need it to ensure that Products Coordinating Committee, a GBC in an earlier tax year, the you are complying with these laws SE:W:CAR:MP:T:T:SP, 1111 released GBC can be carried back 1 and to allow us to figure and collect Constitution Ave. NW, IR-6406, year (3 years if the GBC arose in a the right amount of tax. Washington, DC Do not send tax year beginning before 1998). See the form to this office. Instead, see You are not required to provide the section 39 and the Instructions for Where To File on page 1. information requested on a form that Form 3800 (or Forms 8844, 6478, is subject to the Paperwork Reduction 8835, or 8884) for more details on Act unless the form displays a valid GBC carrybacks. Line 20 Other Credits See the corporation s tax return for the carryback year for any additional -6-