Instructions For Form 1120-Pc - 2001 printable pdf download

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Department of the Treasury

Internal Revenue Service

Instructions for Form

1120-PC

U.S. Property and Casualty Insurance Company

Section references are to the Internal Revenue Code unless otherwise noted.

corporations prohibited from using the

its concerns. The corporation can expect

Contents

Page

cash method under section 448. For more

the advocate to provide:

Changes To Note . . . . . . . . . . . . . . . . 1

•

details, including change in accounting

A “fresh look” at a new or on-going

Photographs of Missing Children . . . . 1

method requirements, see Notice

problem.

Unresolved Tax Problems . . . . . . . . . . 1

•

2001-76, 2001-52 I.R.B. 614.

Timely acknowledgment.

How To Get Forms and

•

The corporation may need to mail its

The name and phone number of the

Publications . . . . . . . . . . . . . . . . . 1-2

return to a different service center this

individual assigned to its case.

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

•

year because the IRS has changed the

Updates on progress.

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

•

filing location for several areas. See

Timeframes for action.

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

Where To File on page 2.

•

Speedy resolution.

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

A corporation may request that the IRS

•

Courteous service.

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

deposit its income tax refund of $1 million

When contacting the Taxpayer

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

or more directly into its checking or

Advocate, the corporation should provide

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

savings account at any U.S. bank or other

the following information:

Other Forms, Returns, and

financial institution that accepts direct

•

The corporation’s name, address, and

deposits. For details, see the instructions

Statements That May Be

employer identification number (EIN).

for line 18 on page 9, and new Form

Required . . . . . . . . . . . . . . . . . . . 3-4

•

The name and telephone number of an

8302, Direct Deposit of Tax Refund of $1

Consolidated return . . . . . . . . . . . . . . 4

authorized contact person and the hours

Million or More.

Statements . . . . . . . . . . . . . . . . . . . 4-5

•

he or she can be reached.

If the corporation wants to allow the

Assembling the Return . . . . . . . . . . . . 5

•

The type of tax return and year(s)

IRS to discuss its 2001 tax return with the

Accounting Methods . . . . . . . . . . . . . . 5

involved.

paid preparer who signed it, check the

Rounding Off to Whole Dollars . . . . . . 5

•

“Yes” box in the area where the officer of

A detailed description of the problem.

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

•

the corporation signed the return. See

Previous attempts to solve the problem

Depository Method of Tax

page 3 for details.

and the office that had been contacted.

Payment . . . . . . . . . . . . . . . . . . . 5-6

•

A description of the hardship the

Estimated Tax Payments . . . . . . . . . . 6

Photographs of Missing

corporation is facing (if applicable).

Interest and Penalties . . . . . . . . . . . . . 6

The corporation may contact a

Children

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

Taxpayer Advocate by calling (toll free)

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

The Internal Revenue Service is a proud

1-877-777-4778. Persons who have

Address . . . . . . . . . . . . . . . . . . . . . . . 6

partner with the National Center for

access to TTY/TDD equipment may call

Employer Identification Number . . . . . . 6

Missing and Exploited Children.

1-800-829-4059 and ask for the Taxpayer

Item A . . . . . . . . . . . . . . . . . . . . . . . . 6

Photographs of missing children selected

Advocate assistance. If the corporation

Item E . . . . . . . . . . . . . . . . . . . . . . . . 6

by the Center may appear in instructions

prefers, it may call, write, or fax the

Taxable Income . . . . . . . . . . . . . . . . 6-7

on pages that would otherwise be blank.

Taxpayer Advocate in its area. See Pub.

You can help bring these children home

Tax Computation and Payments

. . . 7-9

1546, The Taxpayer Advocate Service of

by looking at the photographs and calling

Schedule A . . . . . . . . . . . . . . . . . . 9-14

the IRS, for a list of addresses and fax

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

numbers.

Schedule B, Part I . . . . . . . . . . . . 14-15

recognize a child.

Schedule B, Part II . . . . . . . . . . . . . . 15

How To Get Forms and

Schedule C and Worksheet for

Unresolved Tax Issues

Schedule C . . . . . . . . . . . . . . . 15-16

Publications

Schedule E . . . . . . . . . . . . . . . . . 16-17

If the corporation has attempted to deal

Schedule F . . . . . . . . . . . . . . . . . . . 17

with an IRS problem unsuccessfully, it

Personal computer

Schedule G . . . . . . . . . . . . . . . . . 17-18

should contact the Taxpayer Advocate.

You can access the IRS Web Site 24

The Taxpayer Advocate independently

Schedule H . . . . . . . . . . . . . . . . . . . 18

hours a day, 7 days a week, at

represents the corporation’s interests and

Schedule I . . . . . . . . . . . . . . . . . . 18-19

to:

concerns within the IRS by protecting its

Schedule L . . . . . . . . . . . . . . . . . . . 19

•

Download forms, instructions, and

rights and resolving problems that have

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

publications.

not been fixed through normal channels.

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

•

See answers to frequently asked tax

Changes To Note

While Taxpayer Advocates cannot

questions.

•

change the tax law or make a technical

•

Search publications on-line by topic or

For tax years ending on or after

tax decision, they can clear up problems

keyword.

December 31, 2001, certain corporations

•

that resulted from previous contacts and

Send us comments or request help by

with average annual gross receipts of

ensure that the corporation’s case is

e-mail.

more than $1 million but less than or

given a complete and impartial review.

•

equal to $10 million may be able to adopt

tax news by e-mail.

or change to the cash method of

The corporation’s assigned personal

accounting for eligible trades or

advocate will listen to its point of view and

You can also reach us using file

businesses. This rule does not apply to

will work with the corporation to address

transfer protocol at ftp.irs.gov.

Cat. No. 64537I

Instructions For Form 1120-Pc - 2001

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