Instructions For Form 1120-Pc - 2003 (Page 3 of 20) in pdf

different weeks in 2002 or 20 or more

Also use these returns to report

regulations (to avoid parts of the

different weeks in 2003.

amounts received as a nominee for

accuracy-related penalty or certain

•

Form 941, Employer’s Quarterly

another person.

preparer penalties).

•

Federal Tax Return. Employers must file

Form 1122, Authorization and Consent

Form 8281, Information Return for

this form to report income tax withheld

of Subsidiary Corporation To Be Included

Publicly Offered Original Issue Discount

and employer and employee social

in a Consolidated Income Tax Return.

Instruments. Use this form to report the

security and Medicare taxes. Also, see

File this form if this is the first year a

issuance of public offerings of debt

Trust fund recovery penalty on page 6.

consolidated return is being filed.

instruments (obligations).

•

Form 945, Annual Return of Withheld

Form 3520, Annual Return To Report

Form 8288, U.S. Withholding Tax

Federal Income Tax. File Form 945 to

Transactions With Foreign Trusts and

Return for Dispositions by Foreign

report income tax withheld from

Receipt of Certain Foreign Gifts. A

Persons of U.S. Real Property Interests,

nonpayroll distributions or payments,

domestic nonlife insurance company uses

and Form 8288-A, Statement of

including pensions, annuities, IRAs,

this form to report a distribution received

Withholding on Dispositions by Foreign

gambling winnings, and backup

from a foreign trust; or, if the corporation

Persons of U.S. Real Property Interests.

withholding. Also, see Trust fund

was the grantor of, transferor of, or

Use these forms to report and transmit

recovery penalty on page 6.

transferor to, a foreign trust that existed

withheld tax on the purchase of a U.S.

•

Form 966, Corporate Dissolution or

during the tax year. See Question 5 of

real property interest from a foreign

Liquidation. Use this form to report the

Schedule N (Form 1120).

person. See section 1445 and the related

•

adoption of a resolution or plan to

Form 5452, Corporate Report of

regulations for more information.

dissolve the corporation or liquidate any

•

Nondividend Distributions. Use this form

Form 8300, Report of Cash Payments

of its stock.

to report nondividend distributions.

Over $10,000 Received in a Trade or

•

Form 1042, Annual Withholding Tax

Form 5471, Information Return of U.S.

Business. Use this form to report the

Return for U.S. Source Income of Foreign

Persons With Respect to Certain Foreign

receipt of more than $10,000 in cash or

Persons;

Corporations. This form is filed by a

foreign currency in one transaction or a

•

Form 1042-S, Foreign Person’s U.S.

domestic nonlife insurance company that

series of related transactions.

Source Income Subject to Withholding;

•

controls a foreign corporation; acquires,

Form 8302, Electronic Deposit of Tax

and

disposes of, or owns 10% or more in

•

Refund of $1 Million or More. This form

Form 1042-T, Annual Summary and

value or vote of the outstanding stock of a

must be filed to request an electronic

Transmittal of Forms 1042-S. Use these

foreign corporation; or had control of a

deposit of a tax refund of $1 million or

forms to report and send withheld tax on

foreign corporation for an uninterrupted

more.

payments or distributions made to

period of at least 30 days during the

•

Form 8594, Asset Acquisition

nonresident alien individuals, foreign

annual accounting period of the foreign

Statement Under Section 1060.

partnerships, or foreign corporations to

corporation. See Question 4 of Schedule

Corporations file this form to report the

the extent these payments constitute

N (Form 1120).

purchase or sale of a group of assets that

•

gross income from sources within the

Form 5472, Information Return of a

constitute a trade or business if goodwill

United States (see sections 861 through

25% Foreign-Owned U.S. Corporation or

or going concern value attaches or could

865).

a Foreign Corporation Engaged in a U.S.

attach to the assets and if the buyer’s

Also, see Pub. 515, Withholding of

Trade or Business. This form is filed by a

basis is determined only by the amount

Tax on Nonresident Aliens and Foreign

domestic nonlife insurance company that

paid for the assets.

Entities, and sections 1441 and 1442.

is 25% or more foreign-owned. See

•

Form 8621, Return by a Shareholder of

Form 1096, Annual Summary and

Question 6 on page 18.

a Passive Foreign Investment Company

•

Transmittal of U.S. Information Returns.

Form 5713, International Boycott

•

or Qualified Electing Fund. A domestic

Forms 1099. Use these information

Report. Domestic nonlife insurance

nonlife insurance company uses this form

returns to report the following.

companies that had operations in, or

to make certain elections by shareholders

1. Form 1099-A, Acquisition or

related to, certain “boycotting” countries

in a passive foreign investment company

Abandonment of Secured Property.

file Form 5713.

and to figure certain deferred taxes.

•

2. Form 1099-B, Proceeds from

Form 8023, Elections Under Section

•

Form 8816, Special Loss Discount

Broker and Barter Exchange

338 for Corporations Making Qualified

Account and Special Estimated Tax

Transactions.

Stock Purchases. Corporations file this

Payments for Insurance Companies. This

3. Form 1099-C, Cancellation of

form to make elections under section 338

form must be filed by any insurance

Debt.

for a “target” corporation if the purchasing

company that elects to take an additional

4. Form 1099 – CAP, Changes in

corporation has made a qualified stock

deduction under section 847.

Corporate Control and Capital Structure.

purchase of the target corporation.

•

Form 8842, Election To Use Different

•

5. Form 1099-DIV, Dividends and

Form 8264, Application for Registration

Annualization Periods for Corporate

Distributions.

of a Tax Shelter. Tax shelter organizers

Estimated Tax. Corporations use Form

6. Form 1099-INT, Interest Income.

use this form to receive a tax shelter

8842 for each year they want to elect one

7. Form 1099-LTC, Long Term Care

registration number from the IRS.

of the annualization periods in section

•

and Accelerated Death Benefits.

Form 8271, Investor Reporting of Tax

6655(e)(2) for figuring estimated tax

8. Form 1099-MISC, Miscellaneous

Shelter Registration Number.

payments under the annualized income

Income. Use this form to report payments:

Corporations, which have acquired an

installment method.

to providers of health and medical

interest in a tax shelter that is required to

•

Form 8849, Claim for Refund of Excise

services, of rent or royalties,

be registered, use this form to report the

Taxes. Corporations use this form to

nonemployee compensation, etc.

tax shelter’s registration number. Attach

claim a refund of certain excise taxes.

Note. Every corporation must file Form

Form 8271 to any tax return (including an

•

Form 8865, Return of U.S. Persons

1099-MISC if it makes payments of rents,

application for tentative refund (Form

With Respect to Certain Foreign

commissions, or other fixed or

1139) and an amended return) on which a

Partnerships. A domestic nonlife

determinable income (see section 6041)

deduction, credit, loss, or other tax benefit

insurance company may have to file Form

totaling $600 or more to any one person

attributable to a tax shelter is taken or any

8865 if it:

in the course of its trade or business

income attributable to a tax shelter is

1. Controlled a foreign partnership

during the calendar year.

reported.

•

(i.e., owned more than a 50% direct or

9. Form 1099-OID, Original Issue

Form 8275, Disclosure Statement, and

indirect interest in the partnership).

Discount.

Form 8275-R, Regulation Disclosure

10. Form 1099-R, Distributions From

Statement. Disclose items or positions

2. Owned at least a 10% direct or

Pensions, Annuities, Retirement or

taken on a tax return that are not

indirect interest in a foreign partnership

Profit-Sharing Plans, IRAs, Insurance

otherwise adequately disclosed on a tax

while U.S. persons controlled that

Contracts, etc.

return or that are contrary to Treasury

partnership.

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Instructions for Form 1120-PC

Instructions For Form 1120-Pc - 2003 Page 3

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