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Connecticut Free Printable  for 2020 Connecticut Insurance Reinvestment Fund Credit

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Insurance Reinvestment Fund Credit
Form CT-IRF

Department of Revenue Services State of Connecticut (Rev. 12/19) 2019 Form CT-IRF Insurance Reinvestment Fund Tax Credit For Income Year Beginning: ___________________________ , 2019 and Ending: ___________________________ , __________ . Connecticut Tax Registration Number or Social Security Number (SSN) Name of eligible taxpayer Complete this form in blue or black ink only. Do not use staples. Please note that each form is year specific. The correct year’s form must be used. Use Form CT‑IRF to claim the tax credit available for investments made through a fund manager in an insurance business as provided in Conn. Gen. Stat. § 38a‑88a(b). This form must be used to claim the tax credit against the taxes imposed under Chapter 207 (Insurance Premiums Tax; Health Care Centers Tax), Chapter 208 (Corporation Business Tax), Chapter 229 (Income Tax), or Section 38a‑743 (Surplus Lines Brokers Tax) of the Connecticut General Statutes. Two Insurance Reinvestment Fund Tax Credits are authorized under Conn. Gen. Stat. § 38a‑88a. The original Insurance Reinvestment Fund Tax Credit available under Conn. Gen. Stat. § 38a‑88a(b), is claimed by completing Form CT‑IRF. The Second Insurance Reinvestment Fund Tax Credit available under Conn. Gen. Stat. § 38a‑88a(c), is claimed by completing Form CT‑SIRF, Second Insurance Reinvestment Fund Tax Credit. General Information This tax credit may only be claimed by taxpayers who have invested in an insurance business through a fund that meets all of the requirements set forth in Conn. Gen. Stat. § 38a‑88a. Any tax credit not used in the income year for which it is allowed may be carried forward for five succeeding income years until the full credit has been applied. Any taxpayer allowed a credit may assign such credit to another person, as defined in Conn. Gen. Stat. § 12‑1, provided such person may claim the credit only with respect to a calendar year for which the assigning taxpayer would have been eligible to claim the credit. Applying Credit to the Individual Income Tax Taxpayers applying the Insurance Reinvestment Fund tax credit to the Connecticut income tax will find instructions on how to claim the credit on the following tax returns: • Form CT‑1040, Connecticut Resident Income Tax Return - see Schedule CT‑IT Credit, Income Tax Credit Summary. • Form CT‑1040NR/PY, Connecticut Nonresident and Part-Year Resident Income Tax Return - see Schedule CT‑IT Credit, Income Tax Credit Summary. • Form CT‑1041, Connecticut Income Tax Return for Trusts and Estates - see Form CT‑1041 instruction booklet. • Form CT‑1065/CT-1120SI, Connecticut Pass‑Through Entity Tax Return - see Form CT‑1065/CT-1120SI instruction booklet. Applying Credit to Business Taxes Taxpayers applying the Insurance Reinvestment Fund tax credit to any business tax under Chapter 207 (Insurance Premiums Tax; Health Care Centers Tax), Chapter 208 (Corporation Business Tax) must attach this form to Form CT‑1120K, Business Tax Credit Summary and/or Form CT‑207K, Insurance/Health Care Tax Credit Schedule. Available Credit The available tax credit is equal to the following percentages of the taxpayer investments through a fund that meets all of the requirements provided in Conn. Gen. Stat. § 38a‑88a: • Income year in which the investment was made and the two succeeding income years, 0%; • Third full income year following the year in which the investment in the insurance business was made and the three succeeding income years, 10%; and • Seventh full income year following the year in which the investment in the insurance business was made and the two succeeding income years, 20%. Additional Information See the Guide to Connecticut Business Tax Credits available on the Department of Revenue Services (DRS) website at portal.ct.gov/DRS, or contact DRS at 800‑382‑9463 (Connecticut calls outside the Greater Hartford calling area only) or 860‑297‑5962 (from anywhere). Part I - Credit Computation 1. Name of insurance fund in which the investment was made: ______________________________________________________ 2. Available credit is being claimed by:  An investor  An assignee If credit is being claimed by an assignee, enter the name and Connecticut Taxpayer Identification Number (if available) of the assignor below. ___________________________________________________ Assignor’s name 3. Credit is being applied against: Chapter 208  _____________________________________________ Assignor’s Connecticut Tax Registration Number or SSN  Chapter 207 (Insurance Premiums Tax; Health Care Centers Tax) Chapter 229 Conn. Gen. Stat. § 38a-743   (Corporation Business Tax) (Income Tax) (Surplus Lines Brokers Tax) Tax credit: Enter total amount of Insurance Reinvestment Fund Tax Credit 4. earned for the 2019 income year 4. Amount of Line 4 utilized against the tax imposed under Section 38a-743 5. (Surplus Lines Brokers Tax) of the Connecticut General Statutes. 5. Amount of Line 4 utilized against the taxes imposed under Chapter 207 (Insurance Premiums Tax; 6. Health Care Centers Tax), Chapter 208 (Corporation Business Tax) and Chapter 229 (Income Tax) of the Connecticut General Statutes. 6. Part II - Computation of Carryforward - Credit may be carried forward to five succeeding income years. See instructions below. A Total Credit Earned B Credit Applied 2014 Through 2018 C Carryforward to 2019 Subtract Column B from Column A. D Credit Applied to 2019 2014 Insurance Reinvestment Fund tax 1. credit from 2014 Form CT-IRF, Part I, Line 4 2. 2015 Insurance Reinvestment Fund tax credit from 2015 Form CT-IRF, Part I, Line 4 2016 Insurance Reinvestment Fund tax 3. credit from 2016 Form CT-IRF, Part I, Line 4 2017 Insurance Reinvestment Fund tax 4. credit from 2017 Form CT-IRF, Part I, Line 4 5. 2018 Insurance Reinvestment Fund tax credit from 2018 Form CT-IRF, Part I, Line 4 2019 Insurance Reinvestment Fund tax 6. credit from 2019 Form CT-IRF, Part I, Line 4 7. Total Insurance Reinvestment Fund tax credit applied to 2019: Add Lines 1 through 6, Column D. 8. Total Insurance Reinvestment Fund tax credit carryforward to 2020: Add Lines 2 through 6, Column E. Computation of Carryforward Instructions: Lines 1 through 6, Columns A through D - Enter the amount for each corresponding year. Lines 2 through 5, Column E - Subtract Column D from Column C. Line 6, Column E - Subtract Column D from Column A. Members included in 2019 Form CT‑1120CU, Combined Unitary Corporation Business Tax Return: Include in Column D credits shared to and used by another member of the combined group. Form CT-IRF Back (Rev. 12/19) E Carryforward to 2020
Extracted from PDF file 2019-connecticut-form-ct-irf.pdf, last modified October 2019

More about the Connecticut Form CT-IRF Individual Income Tax Tax Credit TY 2019

We last updated the Insurance Reinvestment Fund Credit in March 2020, so this is the latest version of Form CT-IRF, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form CT-IRF directly from TaxFormFinder. You can print other Connecticut tax forms here.

Other Connecticut Individual Income Tax Forms:

TaxFormFinder has an additional 85 Connecticut income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Tax Instruction Booklet Form CT-1040 Instruction Booklet
CT-1040NR/PY Instructions Tax Instruction Booklet: CT-1040 for Nonresidents/Part-Year Residents
Form CT-1040 Connecticut Resident Income Tax Return
Form CT-1040NR-PY Nonresident/Part-Year Resident Tax Return
CT-1040ES (Current Year) Estimated Connecticut Income Tax Payment Coupon for Individuals

Download all CT tax forms View all 86 Connecticut Income Tax Forms


Form Sources:

Connecticut usually releases forms for the current tax year between January and April. We last updated Connecticut Form CT-IRF from the Department of Revenue Services in March 2020.

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Form CT-IRF is a Connecticut Individual Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of Connecticut Form CT-IRF

We have a total of eight past-year versions of Form CT-IRF in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2016 Form CT-IRF

CT-IRF, 2016 Insurance Reinvestment Fund Tax Credit

2015 Insurance Reinvestment Fund Tax Credit 2015 Form CT-IRF

CT-IRF, 2015 Insurance Reinvestment Fund Tax Credit

2014 Insurance Reinvestment Fund Tax Credit 2014 Form CT-IRF

CT-IRF, 2014 Insurance Reinvestment Fund Tax Credit

2013 Insurance Reinvesment Fund Tax Credit 2013 Form CT-IRF

CT-IRF, 2013 Insurance Reinvesment Fund Tax Credit

2012 Insurance Reinvestment Fund Tax Credit 2012 Form CT-IRF

CT-IRF, 2012 Insurance Reinvestment Fund Tax Credit

2011 Insurance Reinvestment Fund Tax Credit 2011 Form CT-IRF

CT-IRF, 2011 Insurance Reinvestment Fund Tax Credit


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