Instructions for Form 1120-REIT - Introductory Material
This is archived information that pertains only to the 2006 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.
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Any REIT that is a member of a “Controlled group” must complete new Schedule O (Form 1120), Consent Plan and Apportionment Schedule for
a Controlled Group, before completing Schedule J.
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The filing address for REITs whose principal business, office, or agency is located in a foreign country or U.S. possession
has changed. See
the Where To File instructions.
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On page 1 of Form 1120-REIT, we added new Item G to identify the type of REIT. Every REIT must check only one of the applicable
boxes.
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REITs must include in income part or all of the proceeds received from certain corporate-owned life insurance contracts issued
after August
17, 2006. See section 101(j) for details.
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Cash contributions made in tax years beginning after August 17, 2006, must be supported by a dated bank record or receipt.
See
Substantiation requirements on page 8.
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REITs that paid the federal telephone excise tax on long distance or bundled service may be able to request a credit. See
the instructions
for line 24g on page 9.
Photographs of Missing Children
The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Photographs of
missing children
selected by the Center may appear in instructions on pages that would otherwise be blank. You can help bring these children
home by looking at the
photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child.
If the Real Estate Investment Trust (REIT) has attempted to deal with an IRS problem unsuccessfully, it should contact the
Taxpayer Advocate. The
Taxpayer Advocate independently represents the REIT's interests and concerns within the IRS by protecting its rights and resolving
problems that have
not been fixed through normal channels.
While Taxpayer Advocates cannot change the tax law or make a technical tax decision, they can clear up problems that resulted
from previous
contacts and ensure that the REIT's case is given a complete and impartial review.
The REIT's assigned personal advocate will listen to its point of view and will work with the REIT to address its concerns.
The REIT can expect the
advocate to provide:
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A “fresh look” at a new or ongoing problem,
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Timely acknowledgement,
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The name and phone number of the individual assigned to its case,
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Updates on progress,
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Timeframes for action,
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Speedy resolution, and
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Courteous service.
When contacting the Taxpayer Advocate, the REIT should be prepared to provide the following information:
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The REIT's name, address, and employer identification number.
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The name and telephone number of an authorized contact person and the hours he or she can be reached.
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The type of tax return and year(s) involved.
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A detailed description of the problem.
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Previous attempts to solve the problem and the office that was contacted.
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A description of the hardship the REIT is facing and supporting documentation (if applicable).
The REIT can contact a Taxpayer Advocate as follows:
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Call the Taxpayer Advocate's toll-free number: 1-877-777-4778.
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Call, write, or fax the Taxpayer Advocate office in its area (see Pub. 1546 for addresses and phone numbers).
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TTY/TDD help is available by calling 1-800-829-4059.
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Visit the website at www.irs.gov/advocate.
How To Get Forms and Publications
Internet.
You can access the IRS website 24 hours a day, 7 days a week, at
www.irs.gov to:
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Download forms, instructions, and publications;
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Order IRS products online;
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Research your tax questions online;
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Search publications online by topic or keyword; and
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Sign up to receive local and national tax news by email.
IRS Tax Products CD.
You can order Publication 1796, IRS Tax Products CD, and obtain:
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Current year forms, instructions, and publications;
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Prior year forms, instructions, and publications;
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Tax Map: an electronic research tool and finding aid;
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Tax law frequently asked questions (FAQs);
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Tax topics from the IRS telephone response system;
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Fill-in, print and save features for most tax forms;
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Internal Revenue Bulletins; and
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Toll-free and email technical support.
The CD is released twice during the year. The first release will ship the beginning of January and the final release
will ship the beginning of
March.
Buy the CD from the National Technical Information Service (NTIS) at
www.irs.gov/cdorders for $25 (no handling fee) or call
1-877-CDFORMS (1-877-233-6767) toll free to buy the CD for $25 (plus a $5 handling fee).
Price is subject to change.
By phone and in person.
You can order forms and publications by calling 1-800-TAX-FORM (1-800-829-3676). You can also get most forms and publications
at your local IRS
office.
