Instructions For Form 2220 - 2009 Page 4

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Corporations
Line 26. Enter any other taxes the corporation owed for the
1st
2nd
3rd
4th
months shown in each column on line 20. Include the same
Installment
Installment
Installment
Installment
taxes used to figure Part I, line 1 of Form 2220, but do not
Standard option
3
3
6
9
include the personal holding company tax and interest due
under the look-back method of section 460(b)(2) for
Option 1
2
4
7
10
completed long-term contracts or section 167(g)(2) for
Option 2
3
5
8
11
property depreciated under the income forecast method.
Line 28. Enter the credits the corporation is entitled to for
Tax-Exempt Organizations and Private Foundations
the months shown in each column on line 20. Do not
1st
2nd
3rd
4th
annualize any credit. However, when figuring the credits,
Installment
Installment
Installment
Installment
annualize any item of income or deduction used to figure the
Standard option
2
3
6
9
credit.
Option 1
2
4
7
10
Part III. Required Installments
Line 21. Enter on line 21 the taxable income (line 30, Form
Line 33. Before completing line 33 in columns (b) through
1120; or the applicable line for other income tax returns) that
(d), complete lines 34 through 38 in each of the preceding
the corporation received for the months entered for each
columns. For example, complete lines 34 through 38 in
annualization period in columns (a) through (d) on line 20.
column (a) before completing line 33 in column (b).
If the corporation has extraordinary items, special rules
Line 35. Enter in each column of line 35, 25% of the
apply. Do not include on line 21 the de minimis extraordinary
amount from page 1, Part I, line 5. Large corporations, see
items that the corporation chooses to include on line 23b.
the instructions for line 10 for the amounts to enter.
See Extraordinary items on page 3.
Line 38. For each installment, enter the smaller of line 34
Line 22. Annualization amounts. Enter on line 22,
or line 37 on line 38. Also enter the result on page 1, Part III,
columns (a) through (d), respectively, the annualization
line 10.
amounts shown in the tables below for the option used for
Paperwork Reduction Act Notice. We ask for the
line 20 above. For example, if the corporation elected Option
information on this form to carry out the Internal Revenue
1, enter on line 22 the annualization amounts 6, 3, 1.71429,
laws of the United States. You are required to give us the
and 1.2, in columns (a) through (d), respectively.
information. We need it to ensure that you are complying
Corporations
with these laws and to allow us to figure and collect the right
1st
2nd
3rd
4th
amount of tax.
Installment
Installment
Installment
Installment
You are not required to provide the information requested
Standard option
4
4
2
1.33333
on a form that is subject to the Paperwork Reduction Act
Option 1
6
3
1.71429 1.2
unless the form displays a valid OMB control number. Books
Option 2
4
2.4
1.5
1.09091
or records relating to a form or its instructions must be
retained as long as their contents can become material in
the administration of any Internal Revenue law. Generally,
Tax-Exempt Organizations and Private Foundations
tax returns and return information are confidential, as
1st
2nd
3rd
4th
required by section 6103.
Installment
Installment
Installment
Installment
Standard option
6
4
2
1.33333
The time needed to complete and file this form will vary
depending on individual circumstances. The estimated
Option 1
6
3
1.71429 1.2
average time is:
Line 23b. If the corporation has certain extraordinary items
Learning
Preparing and
of $1,000,000 or more, a net operating loss deduction, or a
about the law
sending the
Form
Recordkeeping
or the form
form to the IRS
section 481(a) adjustment, special rules apply. Include these
amounts on line 23b. Also include on line 23b the de
2220
29 hr., 39 min. 2 hr., 40 min.
3 hr., 17 min.
minimis extraordinary items that the corporation chooses to
2220, Schedule A, Part I
24 hr., 37 min.
— —
24 min.
2220, Schedule A, Part II
12 hr., 26 min.
— —
12 min.
exclude from line 21. See Extraordinary items on page 3.
2220, Schedule A, Part III
6 hr., 13 min.
— —
6 min.
Line 25. Compute the alternative minimum tax (AMT) on
Form 4626, if applicable. Figure alternative minimum taxable
If you have comments concerning the accuracy of these
income (AMTI) based on the corporation’s income and
time estimates or suggestions for making this form simpler,
deductions for the annualization period entered in each
we would be happy to hear from you. See the instructions
column on line 20. Multiply AMTI by the annualization
for the tax return with which this form is filed.
amounts (line 22) used to figure annualized taxable income
before subtracting the AMT exemption amount under
section 55(d). Enter on line 25 the result for each column.
-4-

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