4868(SP) Application for Automatic Extension of Time to File U.S.

Caution: DRAFT FORM
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It is subject to change and OMB approval before it
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I.R.S. SPECIFICATIONS
TO BE REMOVED BEFORE PRINTING
INSTRUCTIONS TO PRINTERS
FORM 8860, PAGE 1 of 2
MARGINS: TOP 13mm (1⁄ 2 "), CENTER SIDES.
PRINTS: HEAD TO HEAD
PAPER: WHITE WRITING, SUB. 20. INK: BLACK
FLAT SIZE: 216mm (81⁄ 2 ") x 279mm (11")
PERFORATE: NONE
DO NOT PRINT — DO NOT PRINT — DO NOT PRINT — DO NOT PRINT

8860

Name

Date

Signature

O.K. to print
Revised proofs
requested

OMB No. 1545-1606

Qualified Zone Academy Bond Credit

2006

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©

Department of the Treasury
Internal Revenue Service

Action

Attach to your tax return.

Attachment
Sequence No. 133

Employer identification number

Part I

Current Year Credit
(a)
Bond issuer’s name, city
or town, and state

1

(b)
Month and year
bond issued

(c)
Outstanding principal
amount of bond

(d)
Credit rate

2a Qualified zone academy bond credit from an S corporation (see instructions)
b Enter the S corporation’s employer identification number (EIN)
–
3 Current year credit. Add line 2a and all amounts on line 1, column (e). Caution. Holders of bonds,
see the instructions for how and when to report the credit amount as interest income

(e)
Credit ((c) x (d))

2a

3

Note: S corporations—stop here—do not complete Part II (see instructions).

Part II
4

5

6
7a

Allowable Credit

Regular tax before credits:
● Individuals. Enter the amount from Form 1040, line 44
● Corporations. Enter the amount from Form 1120, Schedule J, line 2, or the applicable
line of your return
● Estates and trusts. Enter the sum of the amounts from Form 1041, Schedule G, lines
1a and 1b, or the amount from the applicable line of your return
Alternative minimum tax:
● Individuals. Enter the amount from Form 6251, line 35
● Corporations. Enter the amount from Form 4626, line 14
● Estates and trusts. Enter the amount from Form 1041, Schedule I, line 56
Add line 4 and line 5
7a
Foreign tax credit
7b
Credits from Form 1040, lines 48 through 54
7c
Qualified electric vehicle credit (Form 8834, line 20)
7d
Alternative motor vehicle credit (Form 8910, line 18)
7e
Alternative fuel vehicle refueling property credit (Form 8911, line 19)
7f
General business credit (see instructions)
7g
Credit for prior year minimum tax

%
%

b
c
d
e
f
g
h Add lines 7a through 7g
8 Net income tax. Subtract line 7h from line 6
9

5

6

7h
8

Credit allowed for the current year. Enter the smaller of line 3 or line 8 here and on Form
1040, line 55; Form 1120, Schedule J, line 5e; Form 1041, Schedule G, line 3; or the applicable
line of your return. Caution. If line 9 is smaller than line 3, you generally should deduct the
unallowed credit in figuring your taxable income for this tax year. Because this deduction will
affect the allowable credit, refigure the unallowed credit until it equals the deduction. However,
you may be able to deduct the unallowed credit attributable to bonds sold after September 25,
2000, in the next tax year (see instructions)

For Paperwork Reduction Act Notice, see instructions.

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Cat. No. 24804G

9
Form

8860

(2006)