Instructions for Form 1120-RIC - Introductory Material

Future Developments

For the latest information about developments related to Form 1120-RIC and its instructions, such as legislation enacted after this form and instructions were published, go to

What's New

Deductions and capitalization of expenditures related to tangible property.   Final regulations under sections 162(a) and 263(a) provide guidance for taxpayers that acquire, produce or improve tangible property. The final regulations clarify and expand the standards of previous regulations under sections 162(a) and 263(a). The regulations generally apply to tax years beginning after 2013. However, certain provisions may retroactively be applied to tax years beginning after 2011. See TD 9636, 2013-43 I.R.B. 331 at

Built-in gains tax.   For tax years beginning in 2014, the recognition period for the built-in gains tax is a 5-year period. See Built-in Gains Tax, later.

Online payment agreement.   The RIC may be able to apply for an installment agreement online if it has a balance due when the RIC's return is filed. See the instructions for line 30.

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.

Unresolved Tax Issues

The Taxpayer Advocate Service (TAS) is your voice at the IRS. Its job is to ensure that every taxpayer is treated fairly and that you know and understand your rights. TAS offers free help to guide you through the often-confusing process of resolving tax problems that you haven't been able to solve on your own. Remember, the worst thing you can do is nothing at all.

As a taxpayer, the RIC has rights that the IRS must abide by in its dealings with the RIC. The TAS tax toolkit at can help the RIC understand these rights.

TAS can help the RIC if:

  • A problem is causing financial difficulty for the business.

  • The business is facing an immediate threat of adverse action.

  • The RIC has tried repeatedly to contact the IRS but no one has responded, or the IRS hasn't responded by the date promised.

TAS has offices in every state, the District of Columbia, and Puerto Rico. Local advocates' numbers are in their local directories and at

TAS also handles large-scale or systemic problems that affect many taxpayers. If the RIC knows of one of these broad issues, please report it to us through the Systemic Advocacy Management System at

For more information, go to

How To Get Formsand Publications

Internet.   You can access the IRS website 24 hours a day, 7 days a week, at to:
  • Download forms, instructions, and publications;

  • Order IRS products online;

  • Research your tax questions online;

  • Search publications online by topic or keyword;

  • View Internal Revenue Bulletins (IRBs) published in recent years; and

  • Sign up to receive local and national tax news by email.

Tax forms and publications.   The RIC can download or print all of the forms and publications it may need at Otherwise, the RIC can
  • Go to to place an order and have forms mailed to it, or

  • Call 1-800-829-3676 to order current year forms, instructions, publications, and prior year forms and instructions (limited to 5 years).

  The RIC should receive its order within 10 business days.

More Online Instructions