Summary of Changes

Tax Forms & Publications
Work Request Notification (WRN)/Circulation
Product

Form 8827

Title

Credit for Prior Year Minimum Tax-Corporations

Tax year

2011

Processing year

2012

This is the First
circulation of this product for your review and comments. This circulation can be used to support any necessary work requests.
We have reviewed this product and propose the following. For circulations of forms, our review included the instructions and related
worksheets.
No changes that would impact a Unified Work Request (UWR) (other than Modernized e-File (MeF) stylesheet changes).
Changes that may impact a UWR as a result of:
Legislation or Chief Counsel guidance: PL 111-312, sec. 401, amending IRC section 168(k)

A program change initiated by: Tax Forms and Publications (TFP)

Signature of Approving Official

Ronald W. Gamble

Digitally signed by Ronald W. Gamble
DN: cn=Ronald W. Gamble, o=Business Review, ou=SE:W:
CAR:MP:T:B:R, [email protected], c=US
Date: 2011.04.24 14:48:05 -04'00'

Date

4/24/2011

Description of major changes

On line 8c, references to Form 1120 for reporting the refundable credit have been changed to Schedule J, Part II, line 19c ( to reflect related
changes to the 2011 Form 1120).
On page 2, the Worksheet for Calculating the Refundable Minimum Tax Credit Amount was updated to reflect that the allowable amount for
extension property applies to property placed in service before January 1, 2010. For 2011, the allowable amounts in lieu of depreciation for
extension property will be deductible only as a pass-through amount from a partnership. The instructions will be further clarified to reflect this.
(IRC sec. 168(k)(4)(H))
The allowable credit in lieu of for round 2 extension property applies for property placed in service after December 31, 2011. In addition, the
refundable credit for round 2 extension property applies for unused minimum tax credits and not for unused research credit. The worksheet and the
related instructions for Form 8827 were revised in 2010 to reflect the changes for fiscal year filers with a tax year ending after December 31, 2010.
The changes will apply to all corporations for the 2011 tax year. The instructions for line 7b have been revised to reflect this. (IRC sec. 168(k)(2)
and (k)(4)(I). Additional changes will be made to these instructions as needed.

Comments: We will consider all comments received. However, comments received after 30 days may be deferred until the next revision. Comments
should be sent via email to both the Tax Law Specialist and Reviewer listed below. If we need to make significant changes based on comments or other
new information received, we will issue a subsequent circulation of this product; otherwise, these changes are final.
Tax Law Specialist

Richard Behan

Reviewer

Joan McAlpine

E-mail

[email protected]

E-mail

[email protected]

Form 14216 (3-2011)

Catalog Number 57440M

publish.no.irs.gov

Department of the Treasury-Internal Revenue Service