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• write to Illinois Department of Revenue, Legal Services Office,

To determine your “Illinois net loss” start with federal taxable income,

Senior Counsel - Income Tax, 5-500, 101 West Jefferson Street,

without regard to any federal NOLD, and apply all addition and

Springfield, Illinois 62702, and request these sections of the Illinois

subtraction modifications, and all allocation and apportionment

Income Tax Regulations.

provisions.

What must I attach to my Form IL-1120-X?

Effective for tax years ending on or after December 31, 2003, Illinois

net losses can no longer be carried back and can only be carried

This form must contain a complete explanation of the reasons for filing

forward for 12 years.

the claim or amendment. You must attach any required schedules or

forms (or reasonable facsimiles) to support your claim. If Form IL-1120-

For loss years ending on or after December 31, 1999, and before

X is submitted without the proper attachments it may be partially or

December 31, 2003, the Illinois NLD provisions are decoupled from

totally denied.

IRC, Section 172. All Illinois net losses must be carried back 2 years

(unless an election is made to only carry forward such loss), then forward 20

If you are filing Form IL-1120-X because

years, which is the same as the general rule under the current version of

• you filed a federal Form 1120X or federal Form 1139 and your tax

IRC, Section 172. However, the special rules under IRC, Section 172, and

due to Illinois decreases, you must include a copy of that form, plus

any other related forms, schedules, or attachments.

future amendments to that section do not apply to Illinois net losses. This

•

change also provides that no limitations under IRC, Section 382, or the

you filed a federal Form 1120X and your tax due to Illinois increases,

you must attach proof of the federal finalization date, showing the

separate return limitation year provisions of the federal consolidated return

change was reported to Illinois within 120 days of IRS acceptance,

regulations will apply to an NLD carryover.

or you may be assessed a late-payment penalty.

Illinois net losses in tax years ending prior to December 31, 1999, are

• of a change by the IRS, you must include all copies of the federal

allowed as a carryback or carryforward deduction only in the manner

examining officer’s reports, including preliminary, revised, corrected,

allowed under IRC, Section 172.

and superseding reports.

Illinois net losses in tax years beginning on or before August 5,

• you copied information incorrectly from your federal Form 1120

1997, generally must be carried back 3 years, then forward 15 years.

onto your Form IL-1120, you must include a copy of your federal

Form 1120.

Illinois net losses in tax years beginning after August 5, 1997, and

• of a change in, or audit of, another state’s tax return, you must

ending prior to December 31, 1999, generally must be carried back 2

include a copy of the other state’s corrected return or the examin-

years, then forward 20 years.

ing officer’s reports.

Effective for tax years ending on or after December 31, 1996, you may

• of an Illinois net loss carryback, you must include a completed

make the election to only carry the loss forward and forgo the Illinois

Illinois Schedule NLD or UB/NLD. See Specific Instructions for

NLD carryback period. This election should have been made on your

Part IV, Line 2.

timely filed original Form IL-1120. However, if your previously filed Form

• of changes, other than those described above, see Form IL-1120

IL-1120 was timely filed and showed income on Part IV, Line 1, and you

Instructions and any schedules for the year you are changing to

are filing Form IL-1120-X to report

determine what attachments you must provide.

• a finalized federal change that eliminates your Illinois income and

What if I need additional assistance or forms?

creates an Illinois net loss for the year, you may make the election to

only carry the loss forward and forgo the carryback period by checking

If you need additional assistance,

the box below Part IV, Line 1. This election must be made within

•

visit our web site at

120 days of IRS partial agreement or finalization. Once made,

•

this election is irrevocable.

call our Taxpayer Assistance Division at 1 800 732-8866 or

217 782-3336;

• an Illinois audit or other Illinois change that eliminates Illinois income

•

and creates an Illinois net loss for the year, you may make the

call our TDD (telecommunications device for the deaf) at

election to only carry the loss forward and forgo the carryback

1 800 544-5304; or

period by checking the box below Part IV, Line 1. This election must

•

write to us at P.O. Box 19044, Springfield, Illinois 62794-9044.

be made at the time the loss is first reported. Once made, this

Our office hours are Monday through Friday, 8 a.m. to 5 p.m.

election is irrevocable.

If you need additional forms or schedules,

If you are carrying an Illinois NLD, you must complete and attach Illinois

•

visit our web site at

Schedule NLD, Illinois Net Loss Deduction, and claim the deduction on

•

call our 24-hour Forms Order Line at 1 800 356-6302; or

Part IV, Line 2. See Part IV - specific instruction for Line 2.

•

write to us at P.O. Box 19010, Springfield, Illinois 62794-9010.

If you are a member of a unitary business group and you are carrying

Specific Instructions

an Illinois NLD, you must complete and attach Illinois Schedule UB/NLD

to support the amount of Illinois NLD claimed. Additionally, you

Check the appropriate box and write the tax year you are amending

must attach a copy of each loss year’s Schedule UB, Part IV. If Part IV

in the space provided at the top of Form IL-1120-X.

does not report each member’s average apportionment factor, you must

also attach a separate worksheet providing this information. Refer to

Print or type your name, current address, FEIN, and IBT number.

current Schedule UB for an example of the required formatting.

a —

Check the box if your name, address, FEIN, or IBT is different

Do not file Form IL-1120-X to report an Illinois NLD until after you have

from your original return.

filed the loss year Form IL-1120. When you file Form IL-1120-X, you

b —

Check the box if you are a foreign insurer. If you are entitled to a

must attach a completed Illinois Schedule NLD or UB/NLD. Failure to

tax reduction, you must attach a completed Illinois Schedule INS. If you

attach the completed schedule could result in partial or total

check the box and you are filing as a member of a unitary group, you

denial of your claim.

must attach a completed Illinois Schedule UB/INS. Complete Part I,

Changes resulting from an Illinois NLD carryback from loss

Lines 1 through 12. Write the corrected tax amounts from that schedule

years ending prior to December 31, 2003, will not reduce or eliminate

on Part I, Lines 13 and 14, and then complete the remainder of Form

any penalties.

IL-1120-X.

If you need further information,

c —

Check the box if you are filing this form only to report an

• visit our web site at and view the Illinois

increased net loss and this Form IL-1120-X is filed within 3 years of

Income Tax Regulations, Sections 100.2050 and 100.2300 through

the due date, including extensions, of the original return. Complete

100.2330, or

Part I, Lines 1 through 7, Part III, if applicable, and Part IV, Line 1.

Leave the rest of the form blank.

IL-1120-X Instructions (R-12/05)

Page 2 of 4

Il-1120-X Instructions - Amended Corporation Income And Replacement Tax Return - Illinois Department Of Revenue - 2005 Page 2

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