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Who Must Sign

Attached” instead of completing the entry

investment immediately after the QTDP

spaces. If more space is needed, attach

grant was made.

Form 8942 must be signed and dated by

separate sheets using the same size and

If a QTDP credit was figured with

a person who:

format as the printed forms. If there are

•

respect to the investment for any tax year

Has personal knowledge of the facts

supporting statements and attachments,

ending before a QTDP grant is made:

stated in the application, and

arrange them in the same order as the

•

The applicant’s tax for the tax year that

Is authorized to bind the applicant.

lines they support and attach them last.

the QTDP grant is made will be increased

A stamped signature or faxed signature is

Show the totals on the Form 8942. Enter

by the amount of the QTDP credit allowed

not permitted.

the applicant’s name and TIN on each

under section 38;

Note: Form 8942 must be signed by the

supporting statement or attachment.

•

The applicant’s general business

same person who signs the attached

carryforwards under section 39 will be

An application is not complete if it

Project Information Memorandum.

adjusted to recapture the portion of the

does not include a Project

For a corporation, the form must be

QTDP credit that was not allowed under

Information Memorandum. See

CAUTION

signed and dated by:

section 38; and

Project Information Memorandum, above,

•

The president, vice president,

The amount of the QTDP grant will be

for more information.

treasurer, assistant treasurer, chief

determined without regard to any

accounting officer; or

reduction in the basis of any property

Amended Application

•

Any other corporate officer (such as tax

subject to depreciation because of the

officer) authorized to sign.

File an amended Form 8942 to:

QTDP credit.

•

Correct an error on a Form 8942

For a partnership, the form must be

For information generally on the

already filed. Check the box for an

signed and dated by a general partner.

recapture of the investment credit, see

amended application at the top of page 1.

For a limited liability company classified

Form 4255 and the Instructions to Form

Attach a statement that identifies the line

as a partnership, the form must be signed

3468.

number of each amended item, the

by a member or manager who would be

corrected amount, treatment, description,

authorized to sign the partnership’s Form

or characterization of the item, and an

1065. For more information on who can

Specific Instructions

explanation of the reasons for each

sign for a partnership, see the Instructions

change.

for Form 1065.

•

Request a QTDP grant for an applicant

Line 2. Taxpayer

For an estate or trust, the form must

that requested certification of qualified

be signed by the fiduciary, or an

Identification Number

investment for a QTDP credit for its 2009

authorized representative. If there are

tax year, 2010 tax year, or both, but did

Enter the applicant’s employer

joint fiduciaries, only one is required to

not request a QTDP grant on Form 8942

identification number (EIN) if the

sign the form.

for such tax year(s) at the time it filed its

applicant:

If the form is filed on behalf of the

application. The applicant can make a

•

Has an EIN;

applicant by a receiver, trustee, or

request for a QTDP grant by filing an

•

Has employees;

assignee, the fiduciary must sign the

amended Form 8942 requesting a QTDP

•

Is a corporation, partnership, trust,

form.

grant not later than the due date

estate, or other entity required to have an

(including extensions) for filing the tax

Paid Preparer

EIN; or

return for the applicant’s tax year in which

•

Is electing on line 17 to apply for a

If an employee of the applicant completes

the certified qualified investment to which

QTDP grant.

the form, the paid preparer’s space

the QTDP grant relates was made.

If the applicant is required to but does not

should remain blank. Anyone who

•

Correct the amount of qualified

have an EIN, the applicant must apply for

prepares the form but does not charge

investment previously reported if the

one on Form SS-4, Application for

the applicant should not complete that

applicant requested a grant. If the

Employer Identification Number. An EIN

section. Generally, anyone who is paid to

applicant requested a grant and the

can be applied for:

prepare the form must sign it and fill in the

amount of actual costs paid or incurred

•

Online — Click on the EIN link at

www.

“Paid Preparer’s Use Only” area.

for qualified investment is less than the

irs.gov/businesses/small. The EIN is

The paid preparer must complete the

amount included on line 35 for which

issued immediately once the application

required preparer information and:

certification was requested, file an

information is validated.

•

amended Form 8942 within 15 days after

Sign the form in the space provided for

•

By telephone at 1-800-829-4933.

the close of the applicant’s tax year to

the preparer’s signature.

•

By mailing or faxing Form SS-4.

•

show the actual costs paid or incurred for

Give a copy of the form to the

The applicant must have received an EIN

qualified investment. In addition, if the

applicant.

by the time Form 8942 is filed in order for

applicant completed column (a) and the

the form to be processed. For more

Assembling the

amount of actual costs paid or incurred as

information about EINs, see Publication

of September 30, 2010, for qualified

Application

1635.

investment is less than the amount shown

For the IRS to pay a QTDP grant,

To ensure that the application is correctly

on line 34, column (a) of the Form 8942

an application for a QTDP grant

processed, attach all documents and

filed, file an amended Form 8942 by

must include the applicant’s EIN.

other forms in the following order.

October 15, 2010, to show the actual

CAUTION

costs for that period.

1. Form 8942.

Lines 3 and 4

2. Form 2848, Power of Attorney and

Recapture

Declaration of Representative. See the

Enter the address of the location of the

instructions to line 13.

applicant’s principal place of business.

If the project ceases to be a qualified

3. Project Information Memorandum.

Include the suite, room, or other unit

therapeutic discovery project, the

4. Consent to Public Disclosure of

number after the street address. For

applicant may need to recapture the

Certain Qualifying Therapeutic Discovery

purposes of Form 8942, a P.O. box

amount of the QTDP credit or grant.

Project Program Application Information

number is not a valid street address.

If the amount of the QTDP grant

(if the applicant elects to consent to

exceeds the amount allowable as a

Line 7

certain limited disclosure). See section

QTDP grant, the excess must be

10.02 and Appendix B in Notice 2010-45.

Check the box that applies.

recaptured as if the investment to which

Complete every applicable entry space

the excess portion of the QTDP grant

An affiliated group is one or more

on Form 8942. Do not enter “See

related had ceased to be a qualified

chains of includible corporations (section

-3-

Instructions for Form 8942 (June 2010)

Instructions For Form 8942 - Application For Certification Of Qualified Investments Eligible For Credits And Grants Under The Qualifying Therapeutic Discovery Project Program Page 3

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