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understatement of tax, reportable

the space for the EIN. For more details,

produced from a nonconventional source.

transaction understatements, and fraud.

see the Instructions for Form SS-4.

In addition, these credits may not be

See sections 6662, 6662A, and 6663.

passed through to shareholders of the

corporation.

Item E—Total Assets

Specific Instructions

Enter the IC-DISC's total assets (as

Line 6a. Net Operating Loss (NOL)

determined by the accounting method

Entity Information

Deduction

regularly used in keeping the IC-DISC's

books and records) at the end of the tax

The NOL deduction is the amount of the

Period Covered

year. If there are no assets at the end of

NOL carryover and carryback that may be

the tax year, enter -0-.

Enter the tax year in the space provided at

deducted in the tax year. See section 172

the top of the form. For a calendar year,

for details.

enter the last two digits of the calendar

Item F—Initial Return, Final Return,

year in the first entry space. For a fiscal or

Name Change, Address Change,

Line 7. Taxable Income

short tax year return, fill in the tax year

or Amended Return

If the IC-DISC uses either the gross

space at the top of the form.

receipts method or combined taxable

If this is the IC-DISC's initial or final

Address

income method to compute the IC-DISC's

return, check the applicable box in item F

taxable income attributable to any

Include the suite, room, or other unit

at the top of the form.

transactions involving products or product

number after the street address. If the post

If the IC-DISC has changed its address

lines, attach Schedule P (Form

office does not deliver mail to the street

since it last filed a return, check the box for

1120-IC-DISC). Show in detail the

address and the corporation has a P.O.

“Address change.”

IC-DISC's taxable income attributable to

box, show the box number instead.

each such transaction or group of

Note. If a change in address occurs after

transactions.

the return is filed, use Form 8822-B,

Item C—Employer Identification

Change of Address or Responsible

Number (EIN)

Party — Business, to notify the IRS of the

Line 8. Refundable Credit for

Enter the corporation's EIN. If the

new address.

Federal Tax Paid on Fuels

corporation does not have an EIN, it must

If the IC-DISC changed its name since it

Enter the credit from Form 4136.

apply for one. An EIN may be applied for:

last filed a return, check the box for “Name

Online—For applicants in the United

change.” Generally, an IC-DISC also must

Schedule A

States or U.S. possessions only, you can

have amended its articles of incorporation

apply for and receive an EIN free of

and filed the amendment with the state in

Cost of Goods Sold

charge on IRS.gov. Go to

IRS.gov/

which it was incorporated.

Businesses

and click on Employer ID

To correct an error on a Form

Generally, inventories are required at the

Numbers.

1120-IC-DISC already filed, file an

beginning and end of each tax year if the

By telephone—This option is available

amended Form 1120-IC-DISC and check

purchase or sale of merchandise is an

to international applicants only. If you have

the “Amended return” box. If the amended

income-producing factor. See Regulations

NO legal residence, principal place of

return changes the income or distributions

section 1.471-1.

business, or principal office or agency in

of income to shareholders, an amended

However, if the IC-DISC is a qualifying

the United States or U.S. possessions,

Schedule K (Form 1120-IC-DISC) must be

taxpayer or a qualifying small business

you may call 267-941-1099 (not a toll-free

filed with the amended Form

taxpayer, it can adopt or change its

number). For further information on how to

1120-IC-DISC and given to each

accounting method to account for

obtain an EIN, go to

IRS.gov/businesses/

shareholder. Write “AMENDED” across

inventoriable items in the same manner as

small-businesses-self-employed/how-to-

the top of the corrected Schedule K you

materials and supplies that are not

apply-for-an-ein.

give to each shareholder.

incidental.

By fax or mail—Under the Fax-TIN

program, you can receive your EIN by fax

A qualifying taxpayer is a taxpayer

Question G(1)

generally within 4 business days.

that, for each prior tax year ending after

For rules of stock attribution, see section

Complete and fax Form SS-4 to the IRS

December 16, 1998, has average annual

267(c). If the owner of the voting stock of

using the appropriate fax number listed

gross receipts of $1 million or less for the

the IC-DISC was an alien individual or a

below. To apply by mail, send to the

3 prior tax years.

foreign corporation, partnership, trust, or

corresponding address listed below.

A qualifying small business

estate, check the “Yes” box in the “Foreign

If your business is in one of the 50

taxpayer is a taxpayer (a) that, for each

owner” column and enter the name of the

states or the District of Columbia, fax

prior tax year ending on or after December

owner's country, in parentheses, in the

to 859-669-5760, or mail to Internal

31, 2000, has average annual gross

address column. “Owner's country” for

Revenue Service, Attn: EIN

receipts of $10 million or less for the 3

individuals is their country of residence;

Operation, Cincinnati, OH 45999.

prior tax years; and (b) whose principal

for other foreign entities, it is the country in

If you have no legal residence,

business activity is not an ineligible

which organized or otherwise created, or

principal office or principal agency in

activity.

in which administered.

any state or the District of Columbia

Taxable Income

Under this accounting method,

(international/U.S. possessions), fax

to 859-669-5987, or mail to Internal

inventory costs for merchandise

An IC-DISC must figure its taxable income

purchased for resale are deductible in the

Revenue Service, Attn: EIN

although it does not pay most taxes. An

year the merchandise is sold (but not

International Operation, Cincinnati,

IC-DISC is exempt from the corporate

before the year the IC-DISC paid for the

OH 45999.

income tax, alternative minimum tax, and

merchandise, if it is also using the cash

accumulated earnings tax.

If the corporation has not received its

method). For additional guidance on this

EIN by the time the return is due, enter

An IC-DISC may not claim the general

method of accounting for inventoriable

“Applied for” and the date you applied in

business credit or the credit for fuel

items, see Pub. 538.

Instructions for Form 1120-IC-DISC (Rev. 9-2017)

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Instructions For Form 1120-Ic-Disc - Interest Charge Domestic International Sales Corporation Return - 2017 Page 5

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