Instructions For Form 1120-H - 2009 (Page 3 of 5) in pdf

(including any additional tax liability), or

association can change its tax year

Where To File

otherwise represent the association

without getting the consent.

File the association’s return at the

before the IRS.

For more information on change of tax

address listed below.

year, see the Instructions for Form 1128

The authorization will automatically

and Pub. 538.

end no later than the due date (excluding

If the association’s

Use the following

extensions) for filing the association’s

principal business,

address:

Rounding Off to Whole

2010 tax return. If the association wants

office, or agency is

to expand the paid preparer’s

located in:

Dollars

authorization, see Pub. 947, Practice

Connecticut,

The association can round off cents to

Before the IRS and Power of Attorney.

Delaware, District of

whole dollars on its return and schedules.

Columbia, Georgia,

Other Forms and

If the association does round to whole

Illinois, Indiana,

dollars, it must round all amounts. To

Statements That May Be

Kentucky, Maine,

round, drop amounts under 50 cents and

Maryland,

increase amounts from 50 to 99 cents to

Department of the

Required

Massachusetts,

the next dollar (for example, $1.39

Treasury

Michigan, New

See the Instructions for Form 1120 and

becomes $1 and $2.50 becomes $3).

Internal Revenue

Hampshire, New

Pub. 542, Corporations, for a list of other

Service Center

If two or more amounts must be added

Jersey, New York,

forms and statements the association

Cincinnati, OH

to figure the amount to enter on a line,

North Carolina, Ohio,

may be required to file.

45999-0012

include cents when adding the amounts

Pennsylvania, Rhode

and round off only the total.

Island, South

Assembling the Return

Carolina, Tennessee,

Payment of Tax (Line 24)

Attach Form 4136, Credit for Federal Tax

Vermont, Virginia,

Paid on Fuels, to Form 1120-H. Attach

West Virginia,

The association must pay any tax due in

schedules in alphabetical order and

Wisconsin

full no later than the 15th day of the 3rd

additional forms in numerical order after

month after the end of the tax year. Do

Alabama, Alaska,

Form 4136.

not include the payment with the tax

Arizona, Arkansas,

Complete every applicable entry space

return. This payment must be deposited

California, Colorado,

on Form 1120-H. Do not write “See

Florida, Hawaii,

using Form 8109 or EFTPS, as discussed

Attached” instead of completing the entry

Idaho, Iowa, Kansas,

below.

Department of the

Louisiana, Minnesota,

spaces. If more space is needed on the

Electronic deposit requirement. The

Treasury

Mississippi, Missouri,

forms or schedules, attach separate

association must make electronic

Internal Revenue

Montana, Nebraska,

sheets using the same size and format as

Service Center

deposits of all depository taxes (such as

Nevada, New Mexico,

the printed forms. If there are supporting

Ogden, UT 84201-0012

employment tax, excise tax, and

North Dakota,

statements and attachments, arrange

corporate income tax) using the

Oklahoma, Oregon,

them in the same order as the schedules

Electronic Federal Tax Payment System

South Dakota, Texas,

or forms they support and attach them

(EFTPS) in 2010 if:

Utah, Washington,

last. Show the totals on the printed forms.

•

The total deposits of such taxes in

Wyoming

Enter the association’s name and EIN on

2008 were more than $200,000 or

each supporting statement or attachment.

•

Internal Revenue

The association was required to use

A foreign country or

Service Center

EFTPS in 2009.

Accounting Methods

U.S. possession

P.O. Box 409101

If the association is required to use

Ogden, UT 84409

Figure taxable income using the method

EFTPS and fails to do so, it may be

of accounting regularly used in keeping

subject to a 10% penalty. If the

the association’s books and records. In all

association is not required to use EFTPS,

Paid Preparer

cases, the method used must clearly

it may participate voluntarily. To enroll in

Authorization

show taxable income. Permissible

or get more information about EFTPS,

methods include cash, accrual, or any

call 1-800-555-4477. To enroll online, visit

If the association wants to allow the IRS

other method authorized by the Internal

the EFTPS website at

to discuss its 2009 tax return with the paid

Revenue Code.

preparer who signed it, check the “Yes”

Depositing on time. For EFTPS

Change in accounting method. To

box in the signature area of the return.

deposits to be made timely, the

change its method of accounting used to

This authorization applies only to the

association must initiate the transaction at

report taxable income (for income as a

individual whose signature appears in the

least 1 business day before the date the

whole or for the treatment of any material

“Paid Preparer’s Use Only” section of the

deposit is due.

item) the association generally must file

return. It does not apply to the firm, if any,

Deposits with Form 8109. If the

Form 3115, Application for Change in

shown in that section.

association does not use EFTPS, deposit

Accounting Method. For more

If the “Yes” box is checked, the

association income tax payments (and

information, see Form 3115 and Pub.

association is authorizing the IRS to call

estimated tax payments) with Form 8109,

538, Accounting Periods and Methods.

the paid preparer to answer any

Federal Tax Deposit Coupon. If you do

There are some instances when the

questions that may arise during the

not have a preprinted Form 8109, use

association can obtain automatic consent

processing of its return. The association

Form 8109-B to make deposits. You can

from the IRS to change to certain

is also authorizing the paid preparer to:

get this form by calling 1-800-829-4933 or

•

accounting methods. See Rev. Proc.

Give the IRS any information that is

visiting an IRS taxpayer assistance

2008-52, 2008-36 I.R.B. 587, and Rev.

missing from the return,

center. Have your EIN ready when you

•

Proc. 2009-39, 2009-38 I.R.B. 371. Also,

Call the IRS for information about the

call or visit.

see the Instructions for Form 3115.

processing of the return or the status of

Do not send deposits directly to an IRS

any related refund or payment(s), and

office; otherwise, the association may

•

Change of Tax Year

Respond to certain IRS notices about

have to pay a penalty. Mail or deliver the

math errors, offsets, and return

Generally, an association must get the

completed Form 8109 with the payment

preparation.

consent of the IRS before changing its tax

to an authorized depositary (a commercial

The association is not authorizing the

year by filing Form 1128, Application To

bank or other financial institution

paid preparer to receive any refund

Adopt, Change, or Retain a Tax Year.

authorized to accept federal tax deposits).

check, bind the association to anything

However, under certain conditions, an

Make checks or money orders payable to

-3-

Instructions for Form 1120-H

Instructions For Form 1120-H - 2009 Page 3

Related Articles

Related forms

Related Categories