8842 - 2008 draft Election to Use Different Annualization Periods for Corp

1

Tax Year 2008 Work Request Notification
Form 8842, Election To Use Different Annualization Periods for Corporate Estimated Tax
To:

Symbols:

1. Scanned by:

SE:W:CAR:MP:T: B : P

Agreed:

2. Section Chief:

Rene Mondesir

SE:W:CAR:MP:T: B : P

Rene Mondesir, Jr.

3. Reviewer:

Joan McAlpine

SE:W:CAR:MP:T: B :R

Joan A. McAlpine

4. Review Chief:

Dan Brooks

SE:W:CAR:MP:T: B :R

5. Branch Chief:

Curtis Freeman

SE:W:CAR:MP:T: B

6. Senior Technical Advisor: Bob Erickson

Date:
Digitally signed by Rene Mondesir, Jr.
DN: cn=Rene Mondesir, Jr., [email protected], o=Pass-Through Forms
and Publication, ou=SE:W:CAR:MP:T:B:P, c=US
Date: 2008.04.02 15:56:35 -04'00'

Digitally signed by Joan A. McAlpine
DN: cn=Joan A. McAlpine, o=Tax Forms & Publications,
ou=Business Branch, Review Section, email=Joan.A.
[email protected], c=US
Date: 2008.04.09 10:54:21 -04'00'

✔

4/9/2008
Digitally signed by B50DB
DN: cn=B50DB, email=Robert.A.
[email protected]
Date: 2008.04.09 15:19:33 -04'00'

SE:W:CAR:MP:T

7. *TPCC Circulations Email sent to Distribution List by: Diane K. Creed
SE:W:CAR:MP:T: B : P

8. Initiator (Tax Law Specialist): Kelli Slaton

Completed:

4/1/2008

Attached is a marked up draft that can be used to develop any necessary Work Requests for
the 2009 processing year. The major changes are as follows:

Under Type of return to be filed, we deleted Form 1120-A and the check box. Form 1120-A is obsolete for
tax years beginning on or after January, 1, 2007.

This Notification is for changes due to:
✔

Legislation or Chief Counsel guidance:

✔

A Program change initiated by: TFP

✔

We do not anticipate the need for any further changes that would require a Work Request.
We may need to make further changes that would require a Work Request.

If you have any questions, please contact the TLS shown below, or the reviewer on line 3 (above).
From:

Signed:

Kelli Slaton
SE:W:CAR:MP:T: B : P

NY3HB

Digitally signed by NY3HB
DN: cn=NY3HB, [email protected]
Date: 2008.04.02 14:28:35 -04'00'

Date:
4/2/2008

Email:
[email protected]
Room:
C7-161

Phone Number:
(202) 283-2734
Fax Number:
Rev. 09/28/2006

2008
Form

8842

(Rev. December 2006)
Department of the Treasury
Internal Revenue Service

Election To Use Different Annualization Periods for
Corporate Estimated Tax

OMB No. 1545-1409

(Under section 6655(e)(2)(C) of the Internal Revenue Code)

Name

Employer identification number

Number, street, and room or suite no. (If a P.O. box, see instructions.)

City or town, state, and ZIP code, or country

Tax year ends (month and year)

Type of return to be filed (check one)
Form
Form 1120
Form 1120-A
Form
Form 1120-C
Form
Form 1120-F
Form

1120-FSC
1120-L
1120-ND
1120-PC

Form
Form
Form
Form

Form 8804

1120-REIT
1120-RIC
1120S
1120-SF

Election to use an annualization option under the annualized income installment method (Check one of the
following boxes.)
1st
Installment

2nd
Installment

3rd
Installment

4th
Installment

Option 1

First 2 months

First 4 months

First 7 months

First 10 months

Option 2

First 3 months

First 5 months

First 8 months

First 11 months

Signature. Under penalties of perjury, I declare that I have been authorized by the above-named corporation or organization to make this election, and to the best of
my knowledge and belief, the information provided is true, correct, and complete.

Signature of officer or agent

General Instructions
Section references are to the
Internal Revenue Code.

Purpose of Form
Corporations use Form 8842 to elect
one of the two annualization options
that can be elected under section
6655(e)(2)(C) to figure the
corporation’s estimated tax
payments under the annualized
income installment method.

Who Can Elect
Corporations (including
S corporations) and partnerships
required to pay the withholding tax
under section 1446 use this form to
elect either Option 1 or Option 2
under the annualized income
installment method.

Title

If an organization wants to use the
annualized income installment
method but does not elect Option 1
or 2, it can annualize income using
the Standard Option. The Standard
Option can be used without filing
Form 8842. Corporations, see
Form 1120-W, Estimated Tax for
Corporations, for information on the
Standard Option. Partnerships, see
the instructions for Form 8804,
Annual Return for Partnership
Withholding Tax (Section 1446).
Tax-exempt organizations subject
to the unrelated business income tax
and private foundations should not
file Form 8842. For information
concerning the annualization periods
applicable to tax-exempt
organizations and private
foundations, see Form 990-W,
Estimated Tax on Unrelated
Business Taxable Income for
Tax-Exempt Organizations.

Date

When To File
● File Form 8842 annually to elect
Option 1 or 2 even if the same
option is elected each year.
● File Form 8842 by the 15th day of
the 4th month of the tax year for
which the election is to apply.
Note. The election applies only to
the tax year for which it is made.
Once the election is made, it cannot
be revoked for that tax year.

Where To File
● File Form 8842 with the Internal
Revenue Service Center where the
income tax return is filed.
See the Where To File instructions
for the appropriate Form 1120 series
forms or Form 8804.
● A corporation that is a foreign
entity files Form 8842 with the
Internal Revenue Service Center,
P.O. Box 409101, Ogden, UT 84409.
(Continued on back of form)

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 15990T

Form

8842

(Rev. 12-2006)

2008