Instructions For Form 1128 - Application To Adopt, Change, Or Retain A Tax Year - Internal Revenue Service - 2008 Page 4
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Section A—Corporations
Part II—Automatic
(Other than S Corporations
Include the suite, room, or other unit
Approval Request
number after the street address. If the
or Personal Service
Post Office does not deliver mail to
Part II is completed by applicants
Corporations)
the street address and the filer has a
requesting automatic approval of a
Rev. Proc. 2006-45 provides
P.O. box, show the box number
change in tax year under:
exclusive procedures for certain
instead.
•
Rev. Proc. 2006-45 (corporations),
corporations to obtain automatic
•
If the filer receives its mail in care
approval to change their annual
Rev. Proc. 2006-46 (pass-through
of a third party (such as an
accounting period under section 442
entities),
accountant or attorney), enter on the
•
and Regulations section 1.442-1(b). A
Rev. Proc. 2003-62 (individuals),
street address line “C/O” followed by
corporation complying with all the
•
Rev. Proc. 76-10, 1976-1 C.B. 548
the third party’s name and street
applicable provisions of this revenue
and Rev. Proc. 85-58 (exempt
address or P.O. box.
procedure will be deemed to have
organizations), and
established a business purpose and
•
Person To Contact
obtained the approval of the IRS to
Rev. Proc. 85-15, 1985-1 C.B. 516
change its accounting period. See
(all filers), to correct the adoption of
The person to contact must be the
Rev. Proc. 2006-45 for more
an improper tax year to a calendar or
person authorized to sign the Form
information.
fiscal year by (1) filing an amended
1128, or the applicant’s authorized
return on a calendar year basis and
representative. If the person to
Line 1. A corporation is precluded
attach Form 1128, or (2) file a Form
contact is not the filer or the
from using the automatic approval
1128 under the procedures of either
applicant, attach Form 2848, Power
rules under section 4 of Rev. Proc.
Rev. Proc. 2006-45, 2006-46,
of Attorney and Declaration of
2006-45 if it:
2002-39, or its successor.
Representative.
1. Has changed its annual
accounting period at any time within
Line 1. Check all applicable boxes
Note. Applicants requesting an
the most recent 48-month period
to indicate the type of entity filing this
automatic approval must complete
ending with the last month of the
application. For example, an entity
Parts I and II only.
requested tax year. For exceptions,
that is a domestic corporation may
see section 4.02(1) of Rev. Proc.
also be a regulated investment
2006-45.
A user fee is not required if
company (RIC). That entity would
TIP
requesting an automatic
2. Has an interest in a
check both the “Domestic
pass-through entity as of the end of
corporation” box and the “Other” box,
approval under any of the
the short period. For exceptions, see
and write, “RIC under sec. 851” on
sections of Part II listed below.
section 4.02(2) of Rev. Proc.
the dotted line.
2006-45.
Complete Part II if the applicant
Lines 2a and 2b. If the requested
3. Is a shareholder of a FSC or
can use the automatic approval rules
year is a 52-53-week tax year,
IC-DISC, as of the end of the short
under one of the sections listed below
describe the year (for example, last
period. For exceptions, see section
and the application is filed on time.
Saturday in December or Saturday
4.02(3) of Rev. Proc. 2006-45.
nearest to December 31). A
4. Is a FSC or an IC-DISC.
Complete
52-53-week tax year must end on the
If the applicant is:
only
5. Is an S corporation.
date a specified day of the week last
6. Attempts to make an S
occurs in a particular month or on the
A corporation (other than an Section A
corporation election for the tax year
date that day of the week occurs
S corporation or a PSC)
immediately following the short
nearest to the last day of a particular
A partnership, S
Section B
period, unless the change is to a
calendar month.
corporation, PSC, or a trust
permitted S corporation tax year.
A newly formed partnership or
7. Is a PSC.
An individual
Section C
PSC that wants to adopt a tax year
8. Is a CFC. For exceptions, see
A tax-exempt organization
Section D
other than its required tax year must
section 4.02(8) of Rev. Proc.
go to Part III after completing Part I.
2006-45.
9. Is a tax-exempt organization,
Line 2c. The required short period
If the applicant does not qualify for
other than an organization exempt
return must begin on the day
automatic approval, a ruling must be
from tax under section 521, 526, 527,
following the close of the old tax year
requested. See Part III for more
or 528.
and end on the day before the first
information.
day of the new tax year. An
10. Is a cooperative association
applicant’s first tax year generally
(within the meaning of section
If the Service Center denies
starts when business operations
1381(a)) with a loss in the short
approval because Form 1128 was not
begin.
period required to effect the change
filed on time, the applicant can
of annual accounting period, unless
A corporation’s tax year begins at
request relief under Regulations
the patrons of the cooperative
the earliest date it first:
section 301.9100-3, discussed earlier
association are substantially the
•
Has shareholders,
under Late Applications on page 2, by
same in the year before the change
•
Has assets, or
completing Part III, as discussed on
of annual accounting period, in the
•
Begins doing business. The initial
page 7, and sending Form 1128 to
short period required to effect the
year ends on the day before the first
the IRS National Office for
change, and in the year following the
day of the new tax year.
consideration.
change.
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