Rev. October 2013
These instructions provide guidance on completing Form 1120-ND, the U.S. Corporation Income Tax Return for Nuclear Decommissioning Funds. The form is used to report income, deductions, taxes, and other information related to a nuclear decommissioning fund. Topics covered include filing requirements, forms and schedules, accounting methods, tax computation for self-dealing, and payment of taxes.
The transferee's ruling amount for the interest acquired is zero for that tax year.
There is no gain or loss recognized by either the transferor or the transferee. However, both parties must file requests for ruling amounts on or before certain deadlines to determine their respective taxable income or outgo related to the disposition.
The form requires taxpayers to report the initial amount of tax owed under Section 4951 for engaging in self-dealing with a trust. It also requests identifying numbers and compliance with the Paperwork Reduction Act.
The IRS may disclose this information to cities, states, the District of Columbia, U.S. Commonwealths or possessions, federal and state agencies, and contractors for tax administration purposes, among others.
Form 1120-ND is one of Tax forms that are documents used to report information related to taxes to the relevant tax authority. There are various types of tax forms, including federal, state, and local tax forms, which can vary depending on the taxpayer's circumstances and location.
The easiest way to fill Form 1120-ND online
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