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.

Any loss from a liability arising from 1

(Form 1040), Form 3800, or Form 8586,

General Instructions

through 4 above may be taken into account as

Low-Income Housing Credit.

a specified liability loss only if you used an

All forms or schedules for items refigured in

Purpose of Form

accrual method of accounting throughout the

the carryback years, such as Form 6251,

period in which the act (or failure to act)

Alternative Minimum Tax—Individuals, or Form

Form 1045 is used by an individual, estate, or

occurred. For details, see section 172(f).

8586.

trust to apply for a quick tax refund resulting

from:

You must attach copies of all required

When To File

forms listed above, and complete all

The carryback of a net operating loss (NOL)

lines on Form 1045 that apply to you.

Generally, you must file Form 1045 within 1

CAUTION

or an unused general business credit,

Otherwise, your application may be disallowed.

year after the end of the year in which the NOL,

An overpayment of tax due to a claim of right

unused credit, or claim of right adjustment

adjustment under section 1341(b)(1), or

arose.

Processing the Application

A suspended research credit allowed for the

Exception. For a suspended research credit

current year.

The IRS will process your application within 90

allowed for the current year or any carryback

Waiving the carryback period. You may

days from the later of:

of a suspended research credit, you must file

elect to carry an NOL forward only, instead of

The date you file the complete application

Form 1045:

first carrying it back. To make this election for

After the end of the suspension period to

an NOL incurred in your 2000 tax year, attach

The last day of the month that includes the

which the credit relates (for example, after

to your 2000 tax return filed on or before the

due date (including extensions) for filing your

September 30, 2001, for a credit attributable to

due date (including extensions) a statement

2000 income tax return (or, for a claim of right

the second suspension period) and

that you are electing under section 172(b)(3) to

adjustment, the date of the overpayment under

Before the date that is 1 year after the end

relinquish the entire carryback period for any

section 1341(b)(1)).

of that suspension period.

2000 NOL. If you filed your return on time

Before processing certain cases involving

without making the election, you may still make

Be sure to file your 2000 income tax

abusive tax shelter promotions and before

the election on an amended return filed within

return no later than the date you file

paying refunds, the IRS will reduce refunds to

6 months of the due date of the return

Form 1045.

CAUTION

investors when appropriate and will offset

(excluding extensions). Attach the election to

If you carry back any portion of an NOL or

deficiencies assessed under provisions of

the amended return, and write “Filed pursuant

an unused general business credit to tax years

section 6213(b)(3) against scheduled refunds

to section 301.9100-2” on the election

before the 3 years preceding the 2000 tax year,

resulting from tentative carryback adjustments

statement. File the amended return at the same

you may need to use additional Form(s) 1045.

under section 6411(b). See Rev. Proc. 84-84,

address you used for your original return.

On any additional Form(s) 1045, skip lines 1

1984-2 C.B. 782 and Rev. Rul. 84-175, 1984-2

Once made, the election is irrevocable.

through 9 and Schedule A.

C.B. 296.

The processing of Form 1045 and the

Definitions

Where To File

payment of the requested refund does not

Eligible loss. For an individual, an eligible

mean the IRS has accepted your application

File Form 1045 with the Internal Revenue

loss is any loss of property arising from fire,

as correct. If the IRS later determines that the

Service Center for the place where you live as

storm, shipwreck, other casualty, or theft.

claimed deductions or credits are due to an

shown in the instructions for your 2000 income

overstatement of the value of property,

For a small business (as defined in section

tax return.

negligence, disregard of rules, or substantial

172(b)(1)(F)(iii)), an eligible loss is any loss

understatement of income tax, you may have

attributable to a Presidentially declared disaster

Do not mail Form 1045 with your 2000

to pay penalties. Any additional tax also will

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

income tax return.

generate interest compounded daily.

CAUTION

A farming loss is not an eligible loss.

What To Attach

The IRS may need to contact you or your

Farming loss. A farming loss is the smaller

authorized representative (for example, your

of:

Attach copies of the following, if applicable, to

accountant or tax return preparer) for more

The amount that would be the NOL for the

Form 1045 for the year of the loss or credit:

information so we can process your application.

tax year if only income and deductions

If you want to designate a representative for

If you are an individual, pages 1 and 2 of

attributable to farming businesses (as defined

your 2000 Form 1040 and Schedules A, D,

us to contact, attach a copy of your

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

and J (Form 1040), if applicable.

authorization to Form 1045. For this purpose,

you may use Form 2848, Power of Attorney

All Schedules K-1 you received from

The NOL for the tax year.

and Declaration of Representative.

partnerships, S corporations, estates, or trusts

Specified liability loss. Generally, a specified

that contribute to the carryback.

liability loss is a loss arising from:

Disallowance of the Application

Any application for extension of time to file

Product liability or

your 2000 income tax return.

Your application is not treated as a claim for

An act (or failure to act) that occurred at least

All Forms 8271, Investor Reporting of Tax

credit or refund. It may be disallowed if it has

3 years before the beginning of the loss year

Shelter Registration Number, attached to your

material omissions or math errors that are not

and resulted in a liability under a Federal or

2000 income tax return.

corrected within the 90-day period. If the

state law requiring:

Any Form 6765, Credit for Increasing

application is disallowed in whole or in part, no

1. Reclamation of land,

Research Activities, or Form 3800, General

suit challenging the disallowance may be

2. Dismantling of a drilling platform,

Business Credit, used to figure any suspended

brought in any court. But you may file a regular

research credit allowed for the current year.

claim for credit or refund before the limitation

3. Remediation of environmental

period expires, as explained in Form 1040X

contamination, or

All other forms and schedules from which a

or Other Amended Return on page 2.

carryback results, such as Schedule C or F

4. Payment under any workers

compensation act.

Cat. No. 13666W

Instructions For Form 1045 - Application For Tentative Refund - 2000

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