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Instructions For Form 1120-Pc - U.s. Property And Casualty Insurance Company Income Tax Return Page 20

•

M-3 (Form 1120-PC) on page 6. A

The part of business gifts over $25.

Expenses for travel as a form of

•

corporation filing Form 1120-PC that is

Expenses of an individual over $2,000

education.

not required to file Schedule M-3 (Form

which are allocable to conventions on

•

Other nondeductible travel and

1120-PC) may voluntarily file Schedule

cruise ships.

entertainment expenses.

•

M-3 (Form 1120-PC) instead of Schedule

Employee achievement awards over

M-1. See the Instructions for Schedule

$400.

For more information, see Pub. 542.

•

M-3 (Form 1120-PC) for more

The cost of entertainment tickets over

information.

face value (also subject to 50% limit

Line 7a. Tax-exempt interest. Report

under section 274(n)).

Line 5c. Travel and entertainment.

•

any tax-exempt interest received or

Include on line 5c any of the following.

The cost of skyboxes over the face

•

accrued, including any exempt-interest

Meals and entertainment expenses not

value of nonluxury box seat tickets.

•

dividends received as a shareholder in a

deductible under section 274(n).

The part of luxury water travel

•

mutual fund or other RIC. Also report this

Expenses for the use of an

expenses not deductible under section

entertainment facility.

274(m).

same amount on Schedule I, item 10.

Paperwork Reduction Act Notice. We ask for the information on these forms to carry out the Internal Revenue laws of the United

States. You are required to give us the information. We need it to ensure that you are complying with these laws and to allow us to

figure and collect the right amount of tax.

You are not required to provide the information requested on a form that is subject to the Paperwork Reduction Act unless the

form displays a valid OMB control number. Books or records relating to a form or its instructions must be retained as long as their

contents may become material in the administration of any Internal Revenue law. Generally, tax returns and return information are

confidential, as required by section 6103.

The time needed to complete and file the following forms will vary depending on individual circumstances. The estimated average

times are:

Copying,

assembling,

Learning about

and sending the

Form

Recordkeeping

the law or the form

Preparing the form

form to the IRS

1120-PC

97 hr., 5 min.

33 hr., 43 min.

57 hr., 16 min.

5 hr., 54 min.

Sch. M-3 (Form

78 hr., 40 min.

7 hr., 40 min.

21 hr., 23 min.

3 hr., 29 min.

1120-PC)

If you have comments concerning the accuracy of these time estimates or suggestions for making this form and related schedule

simpler, we would be happy to hear from you. You can write to the Internal Revenue Service, Tax Products Coordinating Committee,

SE:W:CAR:MP:T:M:S, 1111 Constitution Ave. NW, IR-6526, Washington, DC 20224. Do not send the tax form to this address.

Instead, see Where To File on page 2.

-20-

Instructions for Form 1120-PC (2011)

Instructions For Form 1120-Pc - U.s. Property And Casualty Insurance Company Income Tax Return Page 20

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