Continuation of Sample Joint Committee ReportFirst paragraph of template - Taxpayer HistoryThe taxpayer was incorporated on [date of incorporation] May 4, 1949, [principal business activities and products] and is engaged in real estate development. [Changes in activity or products if pertinent to understanding the adjustments or causes of the overassessments.] The taxpayer is also active in the family entertainment business and has interests in soft drinks and heavy construction equipment. [Description of stock ownership] The company’s stock is widely held and traded on the New York Stock Exchange. [Explanation of structure and any changes in capital structure, mergers, or corporate acquisitions/dispositions] There were no major acquisitions during the years covered by this report. [Also include here: names or number of subsidiaries or affiliates, causes for short taxable years.]Second paragraph of template - Continuation of Taxpayer History[Brief statement of the economic reason for any net operating loss or capital loss, or the reason for the refund or credit] The primary reason for the loss was due to competition from major rivals. Also, technological improvements caused rapid obsolescence of equipment.Third paragraph of template - Prior Examination History[Mention prior examinations and Appeals settlements; enclose copies of prior RARs and Appeals Memorandums] Enclosed is the examination report, dated November 14, 2016, for the 201312 year.Third paragraph of template - Continuation of Prior Examination History[Statement of no prior examination] None of the other years in this report were previously examined. Third paragraph of template - Continuation of Prior Examination History[State release date of previous Joint Committee report, if applicable]Fourth paragraph of template - Current Examination Activity[List of claims and applications for tentative refund filed by the taxpayer, including the amounts and basis for filing. If numerous filings, list on a separate attachment.] On June 30, 2017, the taxpayer filed a timely application for tentative refund on Form 1139 requesting the income tax refunds of $1,325,000 for 201412 and $4,600,000 for 201512 based on an NOL and unused credits from 201612. [Or use the following or similar type format] On June 30, 2017, the taxpayer filed a timely application for tentative refund on Form 1139 requesting the income tax refunds listed below, based on an NOL and unused credits from 201612.Fourth paragraph of template - Continuation of Current Examination ActivitySummary table includes columns for Year, Refund Requested and Type of Carryback.Fifth paragraph of template - Continuation of Current Examination Activity[Explanation of Premature Refund] On May 3, 2016, the taxpayer filed a Form 1120X to claim additional operating expenses for the year 201412. The refund in the amount of $5,000,500 was prematurely issued by the IRS Service Center prior to submission of a report to the Joint Committee on Taxation and is now being reported.