Fillable Form Ia 1120x - Iowa Amended Corporation Income Tax Return

Schedule of Changes to Income, Deductions, and Credits

Item Description

Amount

IA 1120X Amended Corporation Instructions

Copies of all federal documents must be attached.

General Instructions

(21) Credits: Enclose IA 148 Tax Credits Schedule.

(22) Payments: Include tax amount only; for example, estimates,

Form IA 1120X is to be filed to make any changes to a previously-

tax paid with return, tax paid on billing (exclude penalty and interest).

filed form IA 1120 or 1120A, unless the change was due only to

the carryback of a capital loss that uses form IA 1139-CAP.

(26a) IA 2220 Penalty: Enter only if different from amount on

original return.

If the form is filed requesting a refund, it must be filed within

three years of the due date of the original return, or extended due

(26b) Failure to Timely File a Return: A penalty of 10% will

date if the original return was filed under extension, or within one

be added to the tax due for failure to timely file a return if the

year of payment.

return is filed after the original due date of the return and if at

least 90% of the correct amount of tax is not paid by the original

If the refund claim is a result of a federal audit and the above

due date of the return. If due on the original return, the penalty

statute has expired, it must be filed within six months of the date

will be applied to the recomputed tax.

the audit was finalized by the Internal Revenue Service. A copy

of the federal audit, including the final determination date, must

Failure to Timely Pay the Tax Due or

be attached.

Penalty for Audit Deficiency

If the refund claim is a result of a protective claim, check

A penalty of 5% will be added to tax due if the return is filed by

“Protective Claim” in the box “Reason For Amendment.”

the original due date and at least 90% of the correct amount of

tax due is not paid by the original due date of the return.

“Schedule of Changes” on page 2 must be completed, and copies

of any federal forms supporting the changes must be attached.

Filing an amended return may result in less than 90% of the tax

Enter the line reference from page 1 for which you are reporting

due being paid by the due date. However, if an amended return is

a change and give the reason for each change. Attach applicable

filed prior to contact by the Department and tax and interest paid,

schedules.

no penalty will be assessed. Also, no penalty will be assessed if

written notification is provided to the Department while a federal

Unless specified below, column (a) represents amounts as

audit is in progress, and an amended return is filed within 60 days

previously reported or as last computed, column (b) represents

of final disposition of the federal audit.

changes, and column (c) represents the results of adding or

subtracting column (b) from column (a).

When the failure to file penalty and the failure to pay penalty are

applicable, only the 10% penalty will be charged. Penalties can

All amounts should be in whole dollars.

Specific Instructions

only be waived under limited circumstances.

(27) Interest: Interest accrues on any unpaid tax from the original

Name and FEIN Used on Original Return: Check the box if

due date of the return. Interest will be computed by the Department

different from present name or FEIN.

for any overpayment of tax.

Filing Status/Type of Return: Enter the appropriate numbers for

(30) Credit to Next Period’s Estimated Tax: Can only be

filing status and return type.

changed after the due date if the change is requested by the last

(11a) and (11b): These lines must always be completed. If

day of the subsequent tax year.

business ratio is 100%, skip lines 9, 10, 13, and 14.

Preparer’s ID Number: Enter the preparer’s FEIN or

(12) Percentage: Divide line 11a by line 11b and enter the result

PTIN.

carried to six places.

Where to File:

(15) Income Before Net Operating Loss: If the corporation’s

Corporation Tax Return Processing

business is entirely within Iowa, enter the amount of line 8.

Iowa Department of Revenue

Otherwise, add lines 13 and 14 and enter the sum.

PO Box 10468

(18) Computed Tax: Multiply line 17 by the following if it is:

Des Moines IA 50306-0468

Under $25,000:

Questions?: 1-800-367-3388 (Iowa, Omaha, Rock Island, Moline

$25,000 to $100,000:

8% minus $500

only) or 515-281-3114 (Des Moines, out of state)

$100,000 to $250,000:

10% minus $2,500

E-mail: idr@iowa.gov

Over $250,000:

12% minus $7,500

(19) Alternative Minimum Tax: Attach a copy of the

corporation’s original IA 4626, revised IA 4626, and the federal

42-024b (07/18/13)

4626.

Form Ia 1120x - Iowa Amended Corporation Income Tax Return - 2013 Page 2

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