TaxFormFinder
Federal Direct Deposit of Corporate Tax Refund
Extracted from PDF file 2023-federal-form-8050.pdf, last modified December 2016Direct Deposit of Corporate Tax Refund
Form 8050 (November 2016) Department of the Treasury Internal Revenue Service Direct Deposit of Corporate Tax Refund ▶ Attach to Form 1120 or 1120S. ▶ Information about Form 8050 and its instructions is at www.irs.gov/form8050. OMB No. 1545-0123 Employer identification number Name of corporation (as shown on tax return) Phone number (optional) 1. 2. Routing number (must be nine digits). The first two digits must be between 01 and 12 or 21 through 32. 3. Type of account (one box must be checked): Account number (include hyphens but omit spaces and special symbols): Checking General Instructions How To File Section references are to the Internal Revenue Code unless otherwise noted. Attach Form 8050 to the corporation’s Form 1120 or 1120S after Schedule N (Form 1120), if applicable. To ensure that the corporation’s tax return is correctly processed, see Assembling the Return in the instructions for Form 1120 or 1120S. Purpose of Form File Form 8050 to request that the IRS deposit a corporate income tax refund (including a refund of $1 million or more) directly into an account at any U.S. bank or other financial institution (such as a mutual fund or brokerage firm) that accepts direct deposits. The benefits of a direct deposit include a faster refund, the added security of a paperless payment, and the savings of tax dollars associated with the reduced processing costs. Who May File Only corporations requesting a direct deposit of refund with its original Form 1120 or 1120S may file Form 8050. The corporation is not eligible to request a direct deposit if: • The receiving financial institution is a foreign bank or a foreign branch of a U.S. bank, or • The corporation has applied for an employer identification number but is filing its tax return before receiving one. Note: For other corporate tax returns, including Form 1120X, Amended U.S. Corporation Income Tax Return, and Form 1139, Corporation Application for Tentative Refund, a corporation may request a direct deposit of refunds of $1 million or more by filing Form 8302, Electronic Deposit of Tax Refund of $1 Million or More. Conditions Resulting in a Refund by Check If the IRS is unable to process this request for a direct deposit, a refund by check will be generated instead. Reasons for not processing a request include: • The name of the corporation on the tax return does not match the name on the account. • The financial institution rejects the direct deposit because of an incorrect routing or account number. • The corporation fails to indicate the type of account the deposit is to be made to (that is, checking or savings). Specific Instructions Line 1. Enter the financial institution’s routing number and verify that the institution will accept a direct deposit. See the sample check below for an example of where the routing number may be shown. For accounts payable through a financial institution other than the one at which the account is located, check with your financial institution for the correct routing number. Do not use a deposit slip to verify the routing number. Line 2. Enter the corporation’s account number. Enter the number from left to right and leave any unused boxes blank. See the sample check below for an example of where the account number may be shown. Paperwork Reduction Act Notice Savings the information. We need it to ensure that you are complying with these laws and to allow us to figure and collect the right amount of tax. You are not required to provide the information requested on a form that is subject to the Paperwork Reduction Act unless the form displays a valid OMB control number. Books or records relating to a form or its instructions must be retained as long as their contents may become material in the administration of any Internal Revenue law. Generally, tax returns and return information are confidential, as required by section 6103. The time needed to complete and file this form will vary depending on individual circumstances. The estimated burden for business taxpayers filing this form is approved under OMB control number 1545-0123 and is included in the estimates shown in the instructions for their business income tax return. If you have comments concerning the accuracy of these time estimates or suggestions for making this form simpler, we would be happy to hear from you. You can write to the IRS at the address listed in the instructions of the tax return with which this form is filed. We ask for the information on this form to carry out the Internal Revenue laws of the United States. You are required to give us Sample Check ABC Corporation 123 Main Street Anyplace, NJ 07000 Routing number (line 1) Account number (line 2) Note: The routing and account numbers may be in different places on the corporation’s check. Cat. No. 30211X Form 8050 (11-2016)
Form 8050 (Rev. November 2016)
More about the Federal Form 8050 Corporate Income Tax TY 2023
We last updated the Direct Deposit of Corporate Tax Refund in February 2024, so this is the latest version of Form 8050, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 8050 directly from TaxFormFinder. You can print other Federal tax forms here.
Other Federal Corporate Income Tax Forms:
TaxFormFinder has an additional 774 Federal income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Form 1040 | U.S. Individual Income Tax Return |
| 1040 (Schedule B) | Interest and Ordinary Dividends |
| Form W-3 | Transmittal of Wage and Tax Statements |
| Form 941 | Employer's Quarterly Federal Tax Return |
| Form 1120-H | U.S. Income Tax Return for Homeowners Associations |
View all 775 Federal Income Tax Forms
Form Sources:
The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal Form 8050 from the Internal Revenue Service in February 2024.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Federal Form 8050
We have a total of eleven past-year versions of Form 8050 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Form 8050
Form 8050 (Rev. November 2016)
2022 Form 8050
Form 8050 (Rev. November 2016)
2021 Form 8050
Form 8050 (Rev. November 2016)
2020 Form 8050
Form 8050 (Rev. November 2016)
2019 Form 8050
Form 8050 (Rev. November 2016)
2018 Form 8050
Form 8050 (Rev. December 2009)
2017 Form 8050
Form 8050 (Rev. December 2009)
2016 Form 8050
Form 8050 (Rev. December 2009)
2015 Form 8050
Form 8050 (Rev. December 2009)
2012 Form 8050
Form 8050 (Rev. December 2009)
2011 Form 8050
Form 8050 (Rev. December 2009)
TaxFormFinder Disclaimer:
While we do our best to keep our list of Federal Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.