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Department of the Treasury

Internal Revenue Service

Instructions for Form

1120-RIC

U.S. Income Tax Return for Regulated Investment Companies

by the Center may appear in instructions

Section references are to the Internal

What’s New

on pages that would otherwise be blank.

Revenue Code unless otherwise noted.

•

The filing address for certain RICs

You can help bring these children home

Contents

Page

whose principal business office or agency

by looking at the photographs and calling

Photographs of Missing Children . . . . 1

is located in Georgia or Tennessee has

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

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

changed. See Where To File on page 2.

recognize a child.

•

How To Get Forms and

A RIC can elect to claim additional

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

research and minimum tax credits in lieu

Unresolved Tax Issues

of claiming any additional first-year

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

The Taxpayer Advocate Service (TAS) is

special depreciation allowance for eligible

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

an independent organization within the

qualified property. See the instructions for

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

IRS whose employees assist taxpayers

line 28h on page 10.

General Requirements to Qualify

•

who are experiencing economic harm,

For returns required to be filed after

as a RIC . . . . . . . . . . . . . . . . . . . . 2

who are seeking help in resolving tax

December 31, 2008, the minimum penalty

problems that have not been resolved

Other Requirements . . . . . . . . . . . . . . 2

for failure to file a return that is over 60

through normal channels, or who believe

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

days late has increased to the smaller of

that an IRS system or procedure is not

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

Definition of a Fund . . . . . . . . . . . . . . 3

working as it should. The service is free,

instructions.

When To File . . . . . . . . . . . . . . . . . . . 3

confidential, tailored to meet your needs,

•

For business start-up and

Who Must Sign . . . . . . . . . . . . . . . . . 3

and is available for businesses, as well as

organizational costs paid or incurred after

individuals.

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

September 8, 2008, a corporation is no

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

longer required to attach a statement to

A RIC can contact the TAS as follows.

•

Depository Methods of Tax

its return or specifically identify the

Call the TAS toll-free case intake line at

amount deducted as organizational or

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

1-877-777-4778 or TYY/TDD

start-up costs for the election under

1-800-829-4059 to see if the RIC is

Estimated Tax Payments . . . . . . . . . . 4

sections 195(b) or 248(a) to be effective.

eligible for assistance.

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

•

See page 7 of the instructions.

Call or write the RICs local taxpayer

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

•

An 1120-RIC with qualified timber gain

advocate, whose phone number and

Accounting Periods . . . . . . . . . . . . . . 5

in tax years ending after May 22, 2008,

address are listed in the local telephone

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

and beginning before May 23, 2009, may

directory and in Pub. 1546, Taxpayer

be eligible for a 15% tax rate on the gain.

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

Advocate Service – Your Voice at the

See the instructions for Part ll — Tax on

IRS.

Other Forms That May Be

•

Undistributed Net Capital Gain Not

File Form 911, Request for Taxpayer

Required . . . . . . . . . . . . . . . . . . . . 5

Designated Under Section 852(b)(3)(D)

Advocate Assistance (And Application for

Statements . . . . . . . . . . . . . . . . . . . . 5

on page 10.

Taxpayer Assistance Order), or ask an

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

•

For tax years ending after February 17,

IRS employee to complete it on the RICs

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

2009, a RIC can elect to pass through

behalf.

Name and Address . . . . . . . . . . . . . . 6

credits from qualified tax credit bonds to

For more information, go to

its shareholders. See the instructions for

Item B. Date RIC Was

item 11, under Schedule K – Other

Established . . . . . . . . . . . . . . . . . . 6

Information, on page 13.

Item C. Employer Identification

How To Get Forms

•

For information on temporary tax relief

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

for certain taxpayers in Kiowa County,

and Publications

Item D. Total Assets . . . . . . . . . . . . . . 6

Kansas, and surrounding areas, see Pub.

Item E. Final Return, Name

Internet. You can access the IRS

4492-A, Information for Taxpayers

Change, Address Change, or

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

Affected by the May 4, 2007, Kansas

Amended Return . . . . . . . . . . . . . . 6

to:

Storms and Tornadoes.

•

Download forms, instructions, and

Part I — Investment Company

For information on tax relief granted to

publications;

Taxable Income . . . . . . . . . . . . . 7-10

certain taxpayers in the Midwestern

•

Order IRS products online;

disaster areas, see Pub. 4492-B,

Part ll — Tax on Undistributed

•

Research your tax questions online;

Information for Affected Taxpayers in the

Net Capital Gain Not

•

Search publications online by topic or

Midwestern Disaster Areas.

Designated Under Section

keyword; and

852(b)(3)(D) . . . . . . . . . . . . . . . . . 10

•

Photographs of Missing

Schedule A . . . . . . . . . . . . . . . . . . . 10

tax news by email.

Schedule B . . . . . . . . . . . . . . . . . . . 10

Children

IRS tax products DVD. You can order

Schedule J . . . . . . . . . . . . . . . . . 10-12

The Internal Revenue Service is a proud

Pub. 1796, IRS Tax Products DVD, and

Schedule K . . . . . . . . . . . . . . . . . . . 12

partner with the National Center for

obtain:

•

Schedule L . . . . . . . . . . . . . . . . . . . 13

Missing and Exploited Children.

Current year forms, instructions, and

Schedule M-1 . . . . . . . . . . . . . . . . . 13

Photographs of missing children selected

publications.

Cat. No. 64251J

Instructions For Form 1120-Ric - U.s. Income Tax Return For Regulated Investment Companies

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