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 2001)

Attach to Form 1120, 1120-A, 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

Attach Form 8050 to the corporation’s

Purpose of Form

allow us to figure and collect the right

Form 1120, 1120-A, or 1120S after

amount of tax.

File Form 8050 to request that the IRS

Schedule N (Form 1120) (if applicable). To

You are not required to provide the

deposit a corporate income tax refund

ensure that the corporation’s tax return is

information requested on a form that is

(including a refund of $1 million or more)

correctly processed, see Assembling the

subject to the Paperwork Reduction Act

directly into an account at any U.S. bank

Return in the instructions for Form 1120,

unless the form displays a valid OMB

or other financial institution (such as a

1120-A, or 1120S.

control number. Books or records relating

mutual fund or brokerage firm) that

to a form or its instructions must be

Specific Instructions

accepts direct deposits.

retained as long as their contents may

The benefits of a direct deposit include a

become material in the administration of

Line 1. Enter the financial institution’s

faster refund, the added security of a

any Internal Revenue law. Generally, tax

routing number and verify that the

paperless payment, and the savings of tax

returns and return information are

institution will accept a direct deposit. See

dollars associated with the reduced

confidential, as required by section 6103.

the sample check below for an example of

processing costs.

The time needed to complete and file

where the routing number may be shown.

this form will vary depending on individual

Who May File

For accounts payable through a financial

circumstances. The estimated average

institution other than the one at which the

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

Only corporations requesting a direct

account is located, check with your

Learning about the law or the form, 6

deposit of refund with its original Form

financial institution for the correct routing

1120, 1120-A, or 1120S may file Form

min.; Preparing, copying, assembling,

number. Do not use a deposit slip to verify

and sending the form to the IRS, 7 min.

8050.

the routing number.

If you have comments concerning the

The corporation is not eligible to request

Line 2. Enter the corporation’s account

accuracy of these time estimates or

a direct deposit if:

number. Enter the number from left to right

suggestions for making this form simpler,

● The receiving financial institution is a

and leave any unused boxes blank. See the

we would be happy to hear from you. You

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

sample check below for an example of

can write to the IRS at the address listed

bank or

where the account number may be shown.

in the instructions of the tax return with

● The corporation has applied for an

which this form is filed.

Paperwork Reduction

employer identification number but is filing

its tax return before receiving one.

Act Notice

Note. For other corporate tax returns,

including Form 1120X, Amended U.S.

We ask for the information on this form to

Corporation Income Tax Return, and Form

carry out the Internal Revenue laws of the

1139, Corporation Application for Tentative

United States. You are required to give us

Refund, a corporation may request a direct

deposit of refunds of $1 million or more by

filing Form 8302, Direct Deposit of Tax

Sample Check

Refund of $1 Million or More.

Conditions Resulting in a

ABC Corporation

1234

Refund by Check

123 Main Street

15-0000/0000

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

PAY TO THE

ORDER OF

processing a request include:

Routing

Account

● The name of the corporation on the tax

number

DOLLARS

return does not match the name on the

(line 1)

(line 2)

account.

ANYTOWN BANK

Do not include

● The financial institution rejects the direct

Anytown, MD 20000

the check number.

deposit because of an incorrect routing or

account number.

For

● The corporation fails to indicate the type

:202020 "’ 86 " . 1234

:250250025

of account the deposit is to be made to

(i.e., checking or savings).

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

8050

Form

(12-2001)

Cat. No. 30211X

Form 8050 - Direct Deposit Of Corporate Tax Refund

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