Instructions For Form 1045 - 2003 (Page 2 of 8) in pdf

attached to your 2003 income tax

return preparer) for more information

is not required to process your Form

return.

so we can process your application. If

1040X within 90 days. However, if we

•

All necessary tax shelter disclosure

you want to designate a

do not process it within 6 months

statements required by Regulations

representative for us to contact,

from the date you file it, you may file

section 1.6011-4T.

attach a copy of your authorization to

suit in court. If the IRS disallows your

•

Forms 8302, Electronic Deposit of

Form 1045. For this purpose, you

claim on Form 1040X and you

Tax Refund of $1 Million or More.

may use Form 2848, Power of

disagree with that determination, you

•

All other forms and schedules from

Attorney and Declaration of

must file suit no later than 2 years

which a carryback results, such as

Representative.

after the date we disallow it.

Schedule C or F (Form 1040), Form

Additional Information

Disallowance of the

3800, General Business Credit, Form

6781, Gains and Losses From

For more details on NOLs, see Pub.

Application

Section 1256 Contracts and

536, Net Operating Losses (NOLs)

Your application is not treated as a

Straddles, or Form 8586,

for Individuals, Estates, and Trusts.

claim for credit or refund. It may be

Low-Income Housing Credit.

•

disallowed if it has material omissions

All forms or schedules for items

or math errors that are not corrected

refigured in the carryback years, such

Specific Instructions

within the 90-day period. If the

as Form 3800, Form 6251,

application is disallowed in whole or

Alternative Minimum Tax —

Address

in part, no suit challenging the

Individuals, Form 6781, Form 8586,

disallowance may be brought in any

Form 8844, Empowerment Zone and

P.O. box. Enter your box number

court. But you may file a regular claim

Renewal Community Employment

only if your post office does not

for credit or refund before the

Credit, or Form 8884, New York

deliver mail to your street address.

limitation period expires, as explained

Liberty Zone Business Employee

Foreign address. Enter the

below under Form 1040X or Other

Credit.

information in the following order:

Amended Return.

You must attach copies of all

City, province or state, and country.

required forms listed above,

Excessive Allowances

Follow the country’s practice for

and complete all lines on

entering the postal code. Do not

CAUTION

Any amount applied, credited, or

Form 1045 that apply to you.

abbreviate the country name.

refunded based on this application

Otherwise, your application may be

that the IRS later determines to be

Line 1b—Unused

disallowed.

excessive may be billed as if it were

General Business Credit

due to a math or clerical error on the

Processing the

return.

If you claim a tentative refund based

Application

on the carryback of an unused

Form 1040X or Other

general business credit, attach a

The IRS will process your application

Amended Return

detailed computation showing how

within 90 days from the later of:

•

you figured the credit carryback and a

The date you file the complete

Individuals may get a refund by filing

recomputation of the credit after you

application or

Form 1040X, Amended U.S.

•

apply the carryback. Make the

The last day of the month that

Individual Income Tax Return, instead

recomputation on Form 3800 (or

includes the due date (including

of Form 1045. An estate or trust may

Form 8844 or Form 8884, if

extensions) for filing your 2003

file an amended Form 1041, U.S.

applicable) for the tax year of the

income tax return (or, for a claim of

Income Tax Return for Estates and

tentative allowance.

right adjustment, the date of the

Trusts. Generally, you must file an

overpayment under section

If you filed a joint return (or

amended return no later than 3 years

1341(b)(1)).

separate return) for some but not all

after the due date of the return for the

of the tax years involved in figuring

applicable tax year.

The processing of Form 1045 and

the unused credit carryback, special

the payment of the requested refund

If you use Form 1040X or other

rules apply to figuring the carryback.

does not mean the IRS has accepted

amended return, follow the

See the instructions for Form 3800.

your application as correct. If the IRS

instructions for that return. Attach to

later determines that the claimed

the amended return a copy of

Line 1c—Net Section

deductions or credits are due to an

Schedule A of Form 1045 showing

1256 Contracts Loss

overstatement of the value of

the computation of the NOL and, if

property, negligence, disregard of

applicable, a copy of Schedule B of

An individual may elect to carry back

rules, or substantial understatement

Form 1045 showing the computation

a net section 1256 contracts loss to

of income tax, you may have to pay

of the NOL carryover. Complete a

each of the 3 tax years preceding the

penalties. Any additional tax also will

separate Form 1040X or other

loss year. An estate or trust is not

generate interest compounded daily.

amended return for each year for

eligible to make this election. To

which you request an adjustment.

The IRS may need to contact you

make the election, check box D at the

or your authorized representative (for

The procedures for Form 1040X

top of Form 6781. The amount which

example, your accountant or tax

and Form 1045 are different. The IRS

may be used in any prior tax year

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Instructions For Form 1045 - 2003 Page 2

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