Instructions For Form 1045 - Application For Tentative Refund

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Department of the Treasury

Internal Revenue Service

Instructions for Form 1045

Application for Tentative Refund

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

•

Product liability or

Be sure to file your 2002

General Instructions

•

income tax return no later

An act (or failure to act) that

than the date you file Form

occurred at least 3 years before the

CAUTION

A Change To Note

1045.

beginning of the loss year and

resulted in a liability under a Federal

Fiscal year taxpayers. The

If you carry back any portion of an

or state law requiring:

carryback period for most net

NOL or an unused general business

operating losses (NOLs) arising in tax

1. Reclamation of land,

credit to tax years before the 3 years

years ending in 2003 has been

2. Dismantling of a drilling

preceding the 2002 tax year, you may

changed from 5 years to 2 years. See

platform,

need to use additional Forms 1045.

Fiscal year taxpayers in the

Complete lines 1 through 9 and

3. Remediation of environmental

instructions for line 11 on page 3.

Schedule A on only one Form 1045.

contamination, or

Use this Form 1045 for the earliest

4. Payment under any workers

Purpose of Form

preceding tax years. You must sign

compensation act.

this Form 1045, but do not need to

Form 1045 is used by an individual,

Any loss from a liability arising

sign the other Forms 1045.

estate, or trust to apply for a quick tax

from 1 through 4 above may be taken

refund resulting from:

•

into account as a specified liability

The carryback of an NOL,

Where To File

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loss only if you used an accrual

The carryback of an unused

File Form 1045 with the Internal

method of accounting throughout the

general business credit,

Revenue Service Center for the place

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period in which the act (or failure to

The carryback of a net section

where you live as shown in the

act) occurred. For details, see section

1256 contracts loss, or

instructions for your 2002 income tax

•

172(f).

An overpayment of tax due to a

return.

claim of right adjustment under

Eligible loss. For an individual, an

section 1341(b)(1).

Do not include Form 1045 in

eligible loss is any loss of property

the same envelope as your

Waiving the carryback period. You

arising from fire, storm, shipwreck,

2002 income tax return.

CAUTION

may elect to carry an NOL forward

other casualty, or theft.

only, instead of first carrying it back.

For a small business (as defined in

To make this election for an NOL

What To Attach

section 172(b)(1)(F)(iii)), an eligible

incurred in your 2002 tax year, attach

Attach copies of the following, if

loss is any loss attributable to a

to your 2002 tax return filed on or

applicable, to Form 1045 for the year

Presidentially declared disaster (as

before the due date (including

of the loss or credit:

defined in section 1033(h)(3)).

extensions) a statement that you are

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If you are an individual, pages 1

electing under section 172(b)(3) to

and 2 of your 2002 Form 1040 and

A farming loss is not an eligible

relinquish the entire carryback period

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

loss.

for any 2002 NOL. If you filed your

if applicable.

return on time without making the

•

Farming loss. A farming loss is the

All Schedules K-1 you received

election, you may still make the

smaller of:

from partnerships, S corporations,

election on an amended return filed

•

The amount that would be the NOL

estates, or trusts that contribute to the

within 6 months of the due date of the

for the tax year if only income and

carryback.

return (excluding extensions). Attach

•

deductions attributable to farming

Any application for extension of

the election to the amended return,

businesses (as defined in section

time to file your 2002 income tax

and write “Filed pursuant to section

263A(e)(4)) were taken into account

return.

301.9100-2” on the election

•

All Forms 8271, Investor Reporting

statement. File the amended return at

•

of Tax Shelter Registration Number,

The NOL for the tax year.

the same address you used for your

attached to your 2002 income tax

original return. Once made, the

return.

election is irrevocable.

When To File

•

All tax shelter and reportable

You must file Form 1045 within 1 year

transaction disclosure statements

Definitions

after the end of the year in which an

attached to your 2002 income tax

NOL, unused credit, a net section

Specified liability loss. Generally, a

return.

•

1256 contracts loss, or claim of right

specified liability loss is a loss arising

Forms 8302, Direct Deposit of Tax

adjustment arose.

from:

Refund of $1 Million or More.

Cat. No. 13666W

Instructions For Form 1045 - Application For Tentative Refund - 2002

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