General Information About Form 1139
Form 1139 is a corporation application for a tentative refund, which can be filed by corporations that have incurred a net operating loss, net capital loss, unused credit, or claim of right adjustment. The form is used to apply for a refund of taxes previously paid, and it must be filed with the Internal Revenue Service Center where the corporation files its income tax return. According to the Internal Revenue Service website, Form 1139 can be downloaded and printed from the website, and it can also be obtained by calling the IRS toll-free number. The form includes several sections that must be completed, including the corporation’s name, address, and employer identification number, as well as information about the loss or credit being claimed. The form must be signed by an authorized representative of the corporation, and it must be filed within the time limit specified in the instructions.
Filing Requirements for Form 1139
To file Form 1139, corporations must meet certain requirements, including having a net operating loss, net capital loss, unused credit, or claim of right adjustment. The corporation must also have filed its income tax return for the tax year in which the loss or credit arose. The form must be filed within 12 months of the end of the tax year in which the loss or credit arose. Corporations that are part of a consolidated group may have different filing requirements. The Internal Revenue Service provides guidance on filing requirements for Form 1139 on its website, including information on who is eligible to file the form and what documentation is required. The website also provides links to related forms and instructions, such as the instructions for Form 1040 and Form W-9. The corporation’s filing status and tax year will also affect the filing requirements for Form 1139.
When to File Form 1139
Time Limit for Filing Form 1139
Relationship Between Form 1139 and Income Tax Return
The relationship between Form 1139 and the income tax return is significant, as the corporation must file its income tax return for the tax year no later than the date it files Form 1139. This ensures that the necessary information is reported and the tentative refund can be processed. The Internal Revenue Service requires that the income tax return be filed concurrently with Form 1139, allowing for a thorough review of the corporation’s tax situation. The IRS website provides guidance on the relationship between Form 1139 and the income tax return, including instructions on how to file and what information is required. By understanding the relationship between these two forms, corporations can ensure they are in compliance with IRS regulations and avoid any potential issues. The IRS provides detailed information on the filing requirements and procedures for Form 1139 and the income tax return through its online platforms and publications.
How to Fill Form 1139
Essential Sections of Form 1139
Base Erosion Minimum Tax and Form 1139
Submission and Processing of Form 1139
Where to File Form 1139
To file Form 1139, corporations must submit it to the Internal Revenue Service Center where they file their income tax return, as specified in the IRS instructions. Corporations should ensure they file Form 1139 at the correct service center to avoid delays in processing their application for a tentative refund.
It is essential to follow the IRS guidelines for filing Form 1139, including attaching required documents and submitting the form separately from the income tax return.
By filing Form 1139 correctly, corporations can expedite the processing of their application and receive a tentative refund in a timely manner.
The IRS website offers additional resources and guidance on filing Form 1139, including frequently asked questions and related forms and instructions.
Attach Required Documents to Form 1139
When filing Form 1139, corporations must attach required documents to support their application for a tentative refund.
These documents may include copies of the first two pages of the corporation’s income tax return for the year of the loss or credit.
The IRS instructions specify which documents are required, and corporations should carefully review these instructions to ensure they attach all necessary documents.
Failure to attach required documents may result in delays or rejection of the application. The IRS website provides guidance on which documents to attach and how to submit them, helping corporations to complete their application accurately and efficiently.
By attaching the required documents, corporations can facilitate the processing of their Form 1139 and receive a tentative refund in a timely manner.