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2010

Department of the Treasury

Internal Revenue Service

Instructions for Form

1120-RIC

U.S. Income Tax Return for Regulated Investment Companies

directory and in Pub. 1546, Taxpayer

Section references are to the Internal

What’s New

Advocate Service – Your Voice at the

Revenue Code unless otherwise noted.

IRS.

•

Contents

Page

Beginning January 1, 2011, RICs must

•

File Form 911, Request for Taxpayer

use electronics funds transfers to make

Photographs of Missing Children . . . . 1

Advocate Assistance (And Application for

all federal tax deposits (such as deposits

Unresolved Tax Issues . . . . . . . . . . . . 1

Taxpayer Assistance Order), or ask an

of employment tax, excise tax, and

How To Get Forms and

IRS employee to complete it on the RIC’s

corporate income tax). Forms 8109 and

Publications . . . . . . . . . . . . . . . . . . 1

behalf.

8109-B, Federal Tax Coupon, cannot be

General Instructions . . . . . . . . . . . . . 2

used after December 31, 2010. See

For more information, go to

Electronic Deposit Requirement on page

Purpose of Form . . . . . . . . . . . . . . . . 2

gov/advocate.

Who Must File . . . . . . . . . . . . . . . . . . 2

•

How To Get Forms

For tax years beginning in 2010, a RIC

General Requirements to Qualify

can elect to deduct up to $10,000 of

and Publications

as a RIC . . . . . . . . . . . . . . . . . . . . 2

start-up costs. See section 195(b)(3).

Other Requirements . . . . . . . . . . . . . . 2

Also, see Business start-up and

Internet. You can access the IRS

organizational costs on page 7.

Where To File . . . . . . . . . . . . . . . . . . 2

website 24 hours a day, 7 days a week, at

•

A RIC can elect to increase the

IRS.gov

to:

Definition of a Fund . . . . . . . . . . . . . . 3

minimum tax credit limitation in lieu of the

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Download forms, instructions, and

When To File . . . . . . . . . . . . . . . . . . . 3

bonus depreciation on certain ‘‘round

publications;

Who Must Sign . . . . . . . . . . . . . . . . . 3

two’’ extension property placed in service

•

Order IRS products online;

after December 31, 2010, in tax years

Paid Preparer Authorization . . . . . . . . 3

•

Research your tax questions online;

ending after such date. See section

•

Assembling the Return . . . . . . . . . . . . 3

Search publications online by topic or

168(k)(4)(D)(iii). Also, see the instructions

keyword;

Tax Payments . . . . . . . . . . . . . . . . . . 3

for line 28h on page 10. For the latest

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View Internal Revenue Bulletins (IRBs)

Estimated Tax Payments . . . . . . . . . . 4

information, see

gov/formspubs.

published in recent years; and

Interest and Penalties . . . . . . . . . . . . . 4

•

Photographs of Missing

Accounting Methods . . . . . . . . . . . . . . 4

tax news by email.

Children

Accounting Periods . . . . . . . . . . . . . . 4

IRS tax products DVD. You can order

Pub. 1796, IRS Tax Products DVD, and

Rounding Off to Whole Dollars . . . . . . 4

The Internal Revenue Service is a proud

obtain the following.

partner with the National Center for

Recordkeeping . . . . . . . . . . . . . . . . . . 5

•

Current year forms, instructions, and

Missing and Exploited Children.

Other Forms That May Be

publications.

Photographs of missing children selected

Required . . . . . . . . . . . . . . . . . . . . 5

•

Prior year forms, instructions, and

by the Center may appear in instructions

Statements . . . . . . . . . . . . . . . . . . . . 5

publications.

on pages that would otherwise be blank.

•

Tax Map: an electronic research tool

Specific Instructions . . . . . . . . . . . . 6

You can help bring these children home

and finding aid.

by looking at the photographs and calling

Period Covered . . . . . . . . . . . . . . . . . 6

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Tax law frequently asked questions

1-800-THE-LOST (1-800-843-5678) if you

Name and Address . . . . . . . . . . . . . . 6

(FAQs).

recognize a child.

•

Item B. Date RIC Was

Tax Topics from the IRS telephone

Established . . . . . . . . . . . . . . . . . . 6

Unresolved Tax Issues

response system.

•

Internal Revenue Code – Title 26 of

Item C. Employer Identification

The Taxpayer Advocate Service (TAS) is

the U.S. Code.

Number (EIN) . . . . . . . . . . . . . . . . . 6

an independent organization within the

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Fill-in, print, and save features for most

Item D. Total Assets . . . . . . . . . . . . . . 6

IRS whose employees assist taxpayers

tax forms.

who are experiencing economic harm,

Item E. Final Return, Name

•

Internal Revenue Bulletins.

who are seeking help in resolving tax

Change, Address Change, or

•

Toll-free and email technical support.

problems that have not been resolved

Amended Return . . . . . . . . . . . . . . 7

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Two releases during the year.

through normal channels, or who believe

Part I — Investment Company

— The first release will ship early in

that an IRS system or procedure is not

Taxable Income . . . . . . . . . . . . . 7-10

January.

working as it should. The service is free,

— The final release will ship early in

Part ll — Tax on Undistributed

confidential, tailored to meet your needs,

March.

Net Capital Gain Not

and is available for businesses, as well as

Designated Under Section

Buy the DVD from the National

individuals.

852(b)(3)(D) . . . . . . . . . . . . . . . . . 10

Technical Information Service (NTIS) at

A RIC can contact the TAS as follows.

gov/cdorders

for $30 (no

•

Schedule A . . . . . . . . . . . . . . . . . . . 10

Call the TAS toll-free line at

handling fee) or call 1-877-233-6767

Schedule B . . . . . . . . . . . . . . . . . . . 10

1-877-777-4778 or TYY/TDD

toll-free to buy the DVD for $30 (plus a $6

1-800-829-4059 to see if the RIC is

Schedule J . . . . . . . . . . . . . . . . . 10-12

handling fee).

eligible for assistance.

Schedule K . . . . . . . . . . . . . . . . . . . 13

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By phone and in person. You can

Call or write the RIC’s local taxpayer

Schedule L . . . . . . . . . . . . . . . . . . . 13

advocate, whose phone number and

order forms and publications by calling

Schedule M-1 . . . . . . . . . . . . . . . . . 13

address are listed in the local telephone

1-800-TAX-FORM (1-800-829-3676). You

Cat. No. 64251J

Instructions For Form 1120-Ric - U.s. Income Tax Return For Regulated Investment Companies - Internal Revenue Service - 2010

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