Instructions For Form 1120-Pc - 2008 printable pdf download

2 0 08

Department of the Treasury

Internal Revenue Service

Instructions for

Form 1120-PC

U.S. Property and Casualty Insurance Company Income Tax Return

first-year special depreciation allowance

who are experiencing economic harm,

Section references are to the Internal

for eligible qualified property. See the

who are seeking help in resolving tax

Revenue Code unless otherwise noted.

instructions for line 14j.

problems that have not been resolved

Contents

Page

•

For business start-up and

through normal channels, or who believe

Photographs of Missing Children . . . . 1

organizational costs paid or incurred after

that an IRS system or procedure is not

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

September 8, 2008, a corporation is no

working as it should. The service is free,

How To Get Forms and

longer required to attach a statement to

confidential, tailored to meet your needs,

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

its return or specifically identify the

and is available for businesses, as well as

IRS E-Services . . . . . . . . . . . . . . . . . 2

amount deducted as organizational or

individuals.

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

start-up costs in order for the election

The corporation can contact the TAS

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

under sections 195(b) or 248(a) to be

as follows.

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

effective. See page 9 of the instructions.

•

Call the TAS toll-free case intake line at

•

When To File . . . . . . . . . . . . . . . . . . . 2

For returns required to be filed after

1-877-777-4778 or TTY/TDD

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

December 31, 2008, the minimum penalty

1-800-829-4059 to see if the corporation

for failure to file a return that is over 60

Who Must Sign . . . . . . . . . . . . . . . . . 2

is eligible for assistance.

days late has increased to the smaller of

•

Paid Preparer Authorization . . . . . . . . 2

Call or write the corporation’s local

the tax due or $135. See page 4 of the

Statements . . . . . . . . . . . . . . . . . . . . 3

taxpayer advocate, whose phone number

instructions.

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

and address are listed in the local

•

All general business credits allowed

Depository Methods of Tax

telephone directory and in Pub. 1546,

against the alternative minimum tax are

Payment . . . . . . . . . . . . . . . . . . . . 3

Taxpayer Advocate Service – Your Voice

claimed on Form 3800, General Business

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

at the IRS.

•

Credit. See the instructions for line 8c on

File Form 911, Request for Taxpayer

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

page 7, and Form 3800.

Advocate Assistance (And Application for

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

•

Certain eligible small businesses can

Taxpayer Assistance Order), or ask an

Accounting Period . . . . . . . . . . . . . . . 4

elect to increase the carryback period of

IRS employee to complete it on the

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

an applicable net operating loss in tax

corporation’s behalf.

Recordkeeping . . . . . . . . . . . . . . . . . . 4

years ending after December 31, 2007,

Other Forms and Statements

For more information, go to

from 2 years to a maximum of 5 years.

That May Be Required . . . . . . . . . . 4

gov/advocate.

For more information, see the instructions

Specific Instructions . . . . . . . . . . . . 5

for line 36b on page 13.

•

How To Get Forms and

Period Covered . . . . . . . . . . . . . . . . . 5

For information on temporary tax relief

Name and Address . . . . . . . . . . . . . . 5

for certain taxpayers in Kiowa County,

Publications

Identifying Information . . . . . . . . . . . . 5

Kansas, and surrounding areas, see Pub.

Employer Identification Number

Internet. You can access the IRS

4492-A, Information for Taxpayers

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

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

Affected by the May 4, 2007, Kansas

gov to:

Storms and Tornadoes.

Section 953 Elections . . . . . . . . . . . . . 6

•

Download forms, instructions, and

For information on tax relief granted to

Final Return, Name Change,

publications;

certain taxpayers in the Midwestern

Address Change, or Amended

•

Order IRS products online;

disaster areas, see Pub. 4492-B,

Return . . . . . . . . . . . . . . . . . . . . . . 6

•

Research your tax questions online;

Information for Affected Taxpayers in the

Taxable Income . . . . . . . . . . . . . . . . . 6

•

Search publications online by topic or

Midwestern Disaster Areas.

Tax Computation and Payments

. . . . 6

keyword; and

Schedule A . . . . . . . . . . . . . . . . . . . . 8

•

Photographs of Missing

Schedule B, Part I . . . . . . . . . . . . . . 14

tax news by email.

Schedule B, Part II . . . . . . . . . . . . . . 14

Children

IRS Tax Products DVD. You can order

Schedule C . . . . . . . . . . . . . . . . . . . 14

The Internal Revenue Service is a proud

Pub. 1796, IRS Tax Products DVD, and

Schedule E . . . . . . . . . . . . . . . . . . . 16

partner with the National Center for

obtain:

Schedule F . . . . . . . . . . . . . . . . . . . 16

Missing and Exploited Children.

•

Current-year forms, instructions, and

Schedule G . . . . . . . . . . . . . . . . . . . 17

Photographs of missing children selected

publications.

Schedule H . . . . . . . . . . . . . . . . . . . 17

by the Center may appear in instructions

•

Prior-year forms, instructions, and

Schedule I . . . . . . . . . . . . . . . . . . . . 18

on pages that would otherwise be blank.

publications.

Schedule L . . . . . . . . . . . . . . . . . . . 18

You can help bring these children home

•

Tax Map: an electronic research tool

Schedule M-1 . . . . . . . . . . . . . . . . . 19

by looking at the photographs and calling

and finding aid.

Index . . . . . . . . . . . . . . . . . . . . . . . . 20

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

•

Tax law frequently asked questions

recognize a child.

(FAQs).

•

What’s New

Tax Topics from the IRS telephone

Unresolved Tax Issues

response system.

•

A corporation can elect to claim

The Taxpayer Advocate Service (TAS) is

Internal Revenue Code – Title 26.

•

additional research and minimum tax

an independent organization within the

Fill-in, print, and save features for most

credits in lieu of claiming any additional

IRS whose employees assist taxpayers

tax forms.

Cat. No. 64537I

Instructions For Form 1120-Pc - 2008

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