Instructions For Form Tc-20s - Utah S Corporation Tax Return - 2012 Page 7
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28Amend your return if:
Line 2(b) – Percentage of Shares
Enter the percentage of shares issued by the S cor-
• you discover an error on your Utah or federal return
poration to Resident Individuals, IRC 501 and Other
after it has been fi led, or
Exempt Entities, and Nonresident Individuals and Other
• your federal return is audited or adjusted by the
Pass-through Entity Taxpayers. The total percentages
IRS and the audit or adjustment affects your Utah
entered should equal 100%.
return. You must amend your Utah return within 90
Note: The percentage of shares must be the same as
days of the IRS’s fi nal determination.
the total of the stock ownership percentages entered
To qualify for a refund or credit, an amended return
on line E of all federal Schedules K-1.
must be fi led by the later of three years after the original
Line 3 – Corporations Conducting
return was due or two years from the date the tax was
paid. A return fi led before the due date is considered
Business in Utah
fi led on the due date.
Enter an “X” if this S corporation conducted any busi-
ness in Utah during the taxable year.
To amend a previously fi led return, enter on page 1 of
the Utah return on the line titled “AMENDED RETURN”
Line 4 – Qualifi ed Subchapter S
a code number that best corresponds to your reason
Subsidiary Election
for amending. See codes below.
Enter an “X” if this S corporation has elected to treat
any subsidiary as a Qualifi ed Subchapter S Subsidiary
Reason-for-Amending Codes
that did business, incorporated or was qualifi ed in Utah
1 You fi led an amended federal return with the IRS.
and is listed on Schedule M.
Attach a copy of your amended federal return.
2 You made an error on your Utah return. Attach an
Line 5 – Total Tax
explanation of the adjustments made.
Enter the total tax from Schedule A, line 17.
3 Your federal return was changed by an IRS audit or
Line 6 – Total Payments
adjustment and it affects your Utah return. Attach a
Enter the total payments from Schedule A, line 20. See
copy of the IRS adjustment.
Pub 58, Utah Interest and Penalties.
4 Other. Attach an explanation to your return.
Enter the corrected fi gures on the return and/or sched-
Line 7 – Tax Due
ules. Enter all other amounts as shown on your original
If line 5 is larger than line 6, subtract line 6 from line 5.
return. If you received a refund on your original return,
subtract the previous refund (exclude refund interest)
Line 8 – Penalties and Interest
from the amount of any tax paid with the original return
Enter any penalties and interest that apply to this return.
and/or subsequent payment of the tax prior to fi ling the
amended return. Enter the net amount on Schedule A,
Line 9 – Total Due - Pay This Amount
line 19. A net refund should be entered as a negative
Add lines 7 and 8. Pay online at taxexpress.utah.gov.
amount (preceded by a minus sign).
Or you may send a check or money order with your
return (make payable to the Utah State Tax Commis-
sion). Do not mail cash. The Tax Commission assumes
Federal Form 8886
no liability for loss of cash placed in the mail. Complete
If you fi led federal Form 8886, Reportable Transaction
the TC-559 coupon on page 25 and send with your
Disclosure Statement, with the Internal Revenue Service,
payment. See Payment Options below for information
enter an “X” at the top of your TC-20S, where indicated.
about making payments.
Line 10 – Overpayment
Line-by-Line Instructions
If line 6 is larger than the sum of line 5 and line 8, subtract
the sum of line 5 and line 8 from line 6.
Line 1 – S Corporation First Return
If this is the fi rst return fi led as an S corporation, enter
Line 11 – Amount of Overpayment to be
the effective date of the S corporation election as shown
Applied to Next Taxable Year
on the IRS approval letter, Notice of Acceptance as an
All or part of any overpayment shown on line 10 may
S Corporation. Attach a copy of the IRS acceptance
be applied as an advance payment for the next tax
letter to your Utah return.
year. Enter the amount to be applied (may not exceed
the overpayment on line 10).
Line 2(a) – Number of Shares
Enter the number of shares issued by the S corporation
Line 12 – Refund
to Resident Individuals, IRC 501 and Other Exempt
Subtract line 11 from line 10. This is the amount to be
Entities, and Nonresident Individuals and Other Pass-
refunded to you.
through Entity Taxpayers.
Signature and Date Line
Sign and date the return. A refund will not be allowed
without a signature.
Page 5
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