Instructions For Form 1045 (Rev. February 2006)

See Pub. 4492 for a list of counties

Do not include Form 1045 in

your application as correct. If the IRS

and parishes included in the GO

the same envelope as your

later determines that the claimed

Zone.

2005 income tax return.

deductions or credits are due to an

CAUTION

overstatement of the value of

Qualified GO Zone casualty

What To Attach

property, negligence, disregard of

loss. A qualified GO Zone casualty

rules, or substantial understatement

loss is any deductible section 1231

Attach copies of the following, if

of income tax, you may have to pay

loss of property located in the GO

applicable, to Form 1045 for the year

penalties. Any additional tax also will

Zone if the loss was caused by

of the loss or credit:

generate interest compounded daily.

•

Hurricane Katrina. For this purpose,

If you are an individual, pages 1

The IRS may need to contact you

the amount of the loss is reduced by

and 2 of your 2005 Form 1040 and

or your authorized representative (for

any recognized gain from an

Schedules A, D, and J (Form 1040), if

example, your accountant or tax

involuntary conversion caused by

applicable,

•

return preparer) for more information

Hurricane Katrina of property located

Any Form 4952, Investment

so we can process your application. If

in the GO Zone. Any such loss taken

Interest Expense Deduction, attached

you want to designate a

into account in figuring your qualified

to your 2005 income tax return,

•

representative for us to contact,

GO Zone loss is not eligible for the

All Schedules K-1 you received

attach a copy of your authorization to

election to be treated as having

from partnerships, S corporations,

Form 1045. For this purpose, you can

occurred in the previous tax year.

estates, or trusts that contribute to the

use Form 2848, Power of Attorney

carryback,

Specified liability loss. Generally, a

•

and Declaration of Representative.

Any application for extension of

specified liability loss is a loss arising

time to file your 2005 income tax

from:

Disallowance of the

•

return,

Product liability, or

•

All Forms 8271, Investor Reporting

Application

An act (or failure to act) that

of Tax Shelter Registration Number,

occurred at least 3 years before the

Your application is not treated as a

attached to your 2005 income tax

beginning of the loss year and

claim for credit or refund. It may be

return,

resulted in a liability under a federal

•

disallowed if it has material omissions

All Forms 8886, Reportable

or state law requiring:

or math errors that are not corrected

Transaction Disclosure Statement,

1. Reclamation of land,

within the 90-day period. If the

attached to your 2005 income tax

2. Dismantling of a drilling

application is disallowed in whole or

return,

•

platform,

in part, no suit challenging the

Forms 8302, Electronic Deposit of

3. Remediation of environmental

disallowance can be brought in any

Tax Refund of $1 Million or More,

•

contamination, or

court. But you can file a regular claim

All other forms and schedules from

4. Payment under any workers

for credit or refund before the

which a carryback results, such as

compensation act.

limitation period expires, as explained

Schedule C or F (Form 1040), Form

later under Form 1040X or Other

3800, General Business Credit, Form

Any loss from a liability arising

Amended Return.

6781, Gains and Losses From

from (1) through (4) above can be

Section 1256 Contracts and

taken into account as a specified

Excessive Allowances

Straddles, or Form 8586, Low-Income

liability loss only if you used an

Housing Credit, and

Any amount applied, credited, or

accrual method of accounting

•

All forms or schedules for items

refunded based on this application

throughout the period in which the act

refigured in the carryback years, such

that the IRS later determines to be

(or failure to act) occurred. For

as Form 3800, Form 6251,

excessive may be billed as if it were

details, see section 172(f).

Alternative Minimum Tax —

due to a math or clerical error on the

Individuals, Form 6781, Form 8586,

return.

When To File

Form 8844, Empowerment Zone and

Form 1040X or Other

You must file Form 1045 within 1 year

Renewal Community Employment

after the end of the year in which an

Credit, or Form 8884, New York

Amended Return

NOL, unused credit, a net section

Liberty Zone Business Employee

Individuals can get a refund by filing

1256 contracts loss, or claim of right

Credit.

Form 1040X, Amended U.S.

adjustment arose.

You must attach copies of all

Individual Income Tax Return, instead

required forms listed above,

Be sure to file your 2005

of Form 1045. An estate or trust can

and complete all lines on

income tax return no later

CAUTION

file an amended Form 1041, U.S.

Form 1045 that apply to you.

than the date you file Form

CAUTION

Income Tax Return for Estates and

Otherwise, your application may be

1045.

Trusts. Generally, you must file an

disallowed.

amended return no later than 3 years

If you carry back any portion of an

after the due date of the return for the

NOL or an unused general business

Processing the

applicable tax year.

credit to tax years before the 3 years

Application

preceding the 2005 tax year, you may

If you use Form 1040X or other

need to use additional Forms 1045.

amended return, follow the

The IRS will process your application

Complete lines 1 through 9 and

instructions for that return. Attach to

within 90 days from the later of:

•

Schedule A on only one Form 1045.

the amended return a copy of

The date you file the complete

Use this Form 1045 for the earliest

Schedule A of Form 1045 showing

application, or

•

preceding tax years. You must sign

the computation of the NOL and, if

The last day of the month that

this Form 1045, but do not need to

applicable, a copy of Schedule B of

includes the due date (including

sign the other Forms 1045.

Form 1045 showing the computation

extensions) for filing your 2005

of the NOL carryover. Complete a

income tax return (or, for a claim of

Where To File

separate Form 1040X or other

right adjustment, the date of the

amended return for each year for

overpayment under section

File Form 1045 with the Internal

which you request an adjustment.

1341(b)(1)).

Revenue Service Center for the place

where you live as shown in the

The processing of Form 1045 and

The procedures for Form 1040X

instructions for your 2005 income tax

the payment of the requested refund

and Form 1045 are different. The IRS

return.

does not mean the IRS has accepted

is not required to process your Form

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Instructions For Form 1045 (Rev. February 2006) - 2005 Page 2

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