1120 (2009) Instructions - Department of the Treasury...

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Unformatted text preview: Department of the Treasury Internal Revenue Service 20 09 Instructions for Form 1120 U.S. Corporation Income Tax Return charitable contribution benefits, have Section references are to the Internal Whats New expired. See Pub. 4492-B, Information for Revenue Code unless otherwise noted. Affected Taxpayers in the Midwestern The corporation can elect to defer Contents Page Disaster Areas. income from cancellation of debt in Photographs of Missing Children . . . . 1 connection with an applicable debt For the latest information, see Unresolved Tax Issues . . . . . . . . . . . . 1 instrument reacquired after December 31, www.irs.gov/formspubs . Direct Deposit of Refund . . . . . . . . . . . 1 2008, and before January 1, 2011, and How To Make a Contribution To include the deferred income over a 5-year Photographs of Reduce Debt Held by the period. In addition, any applicable Public . . . . . . . . . . . . . . . . . . . . . . 2 Missing Children accrued original issue discount (OID) is How To Get Forms and allowed as a deduction ratably over the The Internal Revenue Service is a proud Publications . . . . . . . . . . . . . . . . . . 2 5-year period that the income from partner with the National Center for cancellation of debt is includible in General Instructions . . . . . . . . . . . . . 2 Missing and Exploited Children. income. See section 108(i). Also, see the Photographs of missing children selected Purpose of Form . . . . . . . . . . . . . . . . 2 instructions for lines 10 and 26. by the Center may appear in instructions Who Must File . . . . . . . . . . . . . . . . . . 2 The American Recovery and on pages that would otherwise be blank. Electronic Filing . . . . . . . . . . . . . . . . . 2 Reinvestment Act of 2009 expanded the You can help bring these children home When To File . . . . . . . . . . . . . . . . . . . 3 rules that apply to limitations on by looking at the photographs and calling Where To File . . . . . . . . . . . . . . . . . . 3 deductions for executive compensation. 1-800-THE-LOST (1-800-843-5678) if you These rules now apply to any entity that Who Must Sign . . . . . . . . . . . . . . . . . 3 recognize a child. receives or has received financial Paid Preparer Authorization . . . . . . . . 3 assistance under the Troubled Asset Assembling the Return . . . . . . . . . . . . 4 Unresolved Tax Issues Relief Program (TARP). See the Depository Methods of Tax The Taxpayer Advocate Service (TAS) is instructions for line 12. Payment . . . . . . . . . . . . . . . . . . . . 4 an independent organization within the The limitations on net operating loss IRS whose employees assist taxpayers Estimated Tax Payments . . . . . . . . . . 4 (NOL) carryforward following an who are experiencing economic harm, Interest and Penalties . . . . . . . . . . . . . 4 ownership change do not apply to certain who are seeking help in resolving tax ownership changes after February 17, Accounting Methods . . . . . . . . . . . . . . 5 problems that have not been resolved...
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1120 (2009) Instructions - Department of the Treasury...

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