Elective Pay and Transfer Election Pre-Filing Registration User Guide

when the return is timely filed (with extensions). See the resources in Appendix B – Elective Pay and Transfer Election Resources for more detailed information. A taxpayer that does not file an annual income tax return (such as a government entity) will use Form 990-T, Exempt Organization Business Income Tax Return (and proxy tax under section 6033(e)).

If the elective payment election amount, together with other tax payments and refundable credits, exceeds the taxpayer’s income tax liability, the taxpayer is treated as having made an overpayment of tax, which can be refunded or credited to estimated tax for the next tax year.