Fillable Form 1120x - Amended U.s. Corporation Income Tax Return (Page 4 of 4) in pdf

Form 1120X (Rev. 1-2011)

Page

Who Must Sign

If the corporation receives its mail in care of a third party

(such as an accountant or an attorney), enter on the street

The return must be signed and dated by:

address line “C/O” followed by the third party’s name and street

• The president, vice president, treasurer, assistant treasurer,

address or P.O. box.

chief accounting officer, or

Column (a)

• Any other corporate officer (such as tax officer) authorized to

sign.

Enter the amounts from the corporation’s return as originally

filed or as it was later amended. If the return was changed or

If a return is filed on behalf of a corporation by a receiver,

audited by the IRS, enter the amounts as adjusted.

trustee, or assignee, the fiduciary must sign the return, instead

of the corporate officer. A return signed by a receiver or trustee

Column (b)

in bankruptcy on behalf of a corporation must be filed with a

Enter the net increase or net decrease for each line being

copy of the order or instructions of the court authorizing signing

changed. Use parentheses around all amounts that are

of the return.

decreases. Explain the increase or decrease in Part II.

If an employee of the corporation completes Form 1120X, the

paid preparer’s space should remain blank. Anyone who

Column (c)

prepares Form 1120X but does not charge the corporation

Note. Amounts entered on lines 1 through 4 in column (c) must

should not complete that section. Generally, anyone who is

equal the amounts that would be entered on the applicable lines

paid to prepare the return must sign it and fill in the “Paid

of the tax return if all adjustments and corrections were taken

Preparer Use Only” area. See the Instructions for Forms 1120

into account.

for more information.

Lines 1 and 2. Add the increase in column (b) to the amount in

Note. A paid preparer may sign original or amended returns by

column (a) or subtract the column (b) decrease from column (a).

rubber stamp, mechanical device, or computer software

Enter the result in column (c). For an item that did not change,

program.

enter the amount from column (a) in column (c).

Line 4. Figure the new amount of tax using the taxable income

Paperwork Reduction Act Notice. We ask for the information

on line 3, column (c). Use Schedule J, Form 1120 (or Part I,

on this form to carry out the Internal Revenue laws of the

Form 1120-A, if applicable) of the original return to make the

United States. You are required to give us the information. We

necessary tax computation.

need it to ensure that you are complying with these laws and to

allow us to figure and collect the right amount of tax.

Line 5e. Enter the amount of tax deposited with Form 7004,

Application for Automatic Extension of Time To File Certain

You are not required to provide the information requested on

Business Income Tax, Information, and Other Returns.

a form that is subject to the Paperwork Reduction Act unless

the form displays a valid OMB control number. Books or

Line 5g. Include on line 5g any write-in credits or payments,

records relating to a form or its instructions must be retained as

such as the credit for tax on ozone-depleting chemicals or

long as their contents may become material in the

backup withholding.

administration of any Internal Revenue law. Generally, tax

Line 8. Enter the amount from the “Overpayment” line of the

returns and return information are confidential, as required by

original return, even if the corporation chose to credit all or part

section 6103.

of this amount to the next year’s estimated tax. This amount

The time needed to complete and file this form will vary

must be considered in preparing Form 1120X because any

depending on individual circumstances. The estimated average

refund due from the original return will be refunded separately

time is:

(or credited to estimated tax) from any additional refund claimed

on Form 1120X. If the original return was changed by the IRS

Recordkeeping

. 12 hrs., 40 min.

and the result was an additional overpayment of tax, also

Learning about the law

include that amount on line 8.

or the form .

. 1 hr., 19 min.

Line 10. Tax due. If the corporation does not use electronic

Preparing the form

3 hrs., 27 min.

funds transfers, including the Electronic Federal Tax Payment

Copying, assembling, and

System (EFTPS), enclose a check with this form and make it

sending the form to the IRS

. 32 min.

payable to the “United States Treasury.”

If you have comments concerning the accuracy of these time

Line 11. Overpayment. If the corporation is entitled to a refund

estimates or suggestions for making this form simpler, we would

larger than the amount claimed on the original return, line 11 will

be happy to hear from you. You can write to the Internal

show only the additional amount of overpayment. This

Revenue Service, Tax Products Coordinating Committee,

additional amount will be refunded separately from the amount

SE:W:CAR:MP:T:T:SP, 1111 Constitution Ave. NW, IR-6526,

claimed on the original return. The IRS will figure any interest

Washington, DC 20224. Do not send the form to this address.

due and include it in the refund.

Instead, see Where To File on page 3.

Line 12. Enter the amount, if any, to be applied to the

estimated tax for the next tax period. Also, enter that tax

period. No interest will be paid on this amount. The election to

apply part or all of the overpayment to the next year’s

estimated tax is irrevocable.

Form 1120x - Amended U.s. Corporation Income Tax Return Page 4

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