The Internal Revenue Service (IRS) maintains an information site on the Internet that provides tax information and services. Among those services is a server for publications and forms which allows a visitor to download a variety of IRS forms and publications. 

Required: 

1. Access the IRS site at irs.gov. After exploring the information available there, navigate to the forms and instructions page. 

2. Download the corporation tax return, Form 1120. 

3. Note the specific deductions listed that are deductible from total income to arrive at taxable income. Are any deductions listed that might not also be included among expenses in the income statement? One of the deductions indicated is “net operating loss deduction.” Will every company report this tax deduction in every year? If not, under what circumstances might a company report an amount for this item?