Fillable Form 8050 - Direct Deposit Of Corporate Tax Refund printable pdf download

8050

Direct Deposit of Corporate Tax Refund

Form

OMB No. 1545-1762

(December 2009)

Attach to Form 1120 or 1120S.

Department of the Treasury

Internal Revenue Service

Name of corporation (as shown on tax return)

Employer identification number

Phone number (optional)

Routing number (must be nine digits). The first two digits must be between 01 and 12 or 21 through 32.

3. Type of account (one box

must be checked):

Account number (include hyphens but omit spaces and special symbols):

Checking

Savings

General Instructions

How To File

the information. We need it to ensure that

you are complying with these laws and to

Section references are to the Internal Revenue

Attach Form 8050 to the corporation’s Form

allow us to figure and collect the right

Code unless otherwise noted.

1120 or 1120S after Schedule N (Form 1120)

amount of tax.

(if applicable). To ensure that the

Purpose of Form

You are not required to provide the

corporation’s tax return is correctly

information requested on a form that is

processed, see Assembling the Return in

File Form 8050 to request that the IRS deposit a

subject to the Paperwork Reduction Act

the instructions for Form 1120 or 1120S.

corporate income tax refund (including a refund

unless the form displays a valid OMB control

Specific Instructions

of $1 million or more) directly into an account at

number. Books or records relating to a form

any U.S. bank or other financial institution (such

or its instructions must be retained as long as

Line 1. Enter the financial institution’s

as a mutual fund or brokerage firm) that

their contents may become material in the

routing number and verify that the institution

accepts direct deposits.

administration of any Internal Revenue law.

will accept a direct deposit. See the sample

The benefits of a direct deposit include a

Generally, tax returns and return information

check below for an example of where the

faster refund, the added security of a

are confidential, as required by section 6103.

routing number may be shown.

paperless payment, and the savings of tax

The time needed to complete and file this

For accounts payable through a financial

dollars associated with the reduced

form will vary depending on individual

institution other than the one at which the

processing costs.

circumstances. The estimated average times

account is located, check with your financial

are: Recordkeeping, 1 hr., 25 min.;

Who May File

institution for the correct routing number. Do

Learning about the law or the form, 6 min.;

not use a deposit slip to verify the routing

Only corporations requesting a direct deposit

Preparing, copying, assembling, and

number.

of refund with its original Form 1120 or

sending the form to the IRS, 7 min.

Line 2. Enter the corporation’s account

1120S may file Form 8050.

If you have comments concerning the

number. Enter the number from left to right

The corporation is not eligible to request a

accuracy of these time estimates or

and leave any unused boxes blank. See the

direct deposit if:

suggestions for making this form simpler, we

sample check below for an example of where

• The receiving financial institution is a foreign

would be happy to hear from you. You can

the account number may be shown.

bank or a foreign branch of a U.S. bank or

write to the IRS at the address listed in the

Paperwork Reduction

• The corporation has applied for an

instructions of the tax return with which this

employer identification number but is filing its

form is filed.

Act Notice

tax return before receiving one.

We ask for the information on this form to

Note. For other corporate tax returns,

carry out the Internal Revenue laws of the

including Form 1120X, Amended U.S.

United States. You are required to give us

Corporation Income Tax Return, and Form

1139, Corporation Application for Tentative

Refund, a corporation may request a direct

Sample Check

deposit of refunds of $1 million or more by

filing Form 8302, Electronic Deposit of Tax

Refund of $1 Million or More.

Conditions Resulting in a

ABC Corporation

Refund by Check

123 Main Street

Anyplace, NJ 07000

If the IRS is unable to process this request for

a direct deposit, a refund by check will be

generated instead. Reasons for not

processing a request include:

Routing

Account

number

• The name of the corporation on the tax

(line 1)

(line 2)

return does not match the name on the

account.

• The financial institution rejects the direct

deposit because of an incorrect routing or

account number.

• The corporation fails to indicate the type of

Note. The routing and account numbers may be in different places on the corporation’s check.

account the deposit is to be made to (i.e.,

checking or savings).

8050

Form

(12-2009)

Cat. No. 30211X

Form 8050 - Direct Deposit Of Corporate Tax Refund

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