Form 1120x - Amended U.s. Corporation Income Tax Return Page 3
ADVERTISEMENT
1
2
3
43
Page
Form 1120X (Rev. 12-2004)
Caution: Pr ivate delivery services cannot deliver items
General Instructions
to P.O. boxes. Use the U.S. Postal Service to send any
Section references are to the Inter nal Revenue Code
item to an IRS P.O. box address.
unless otherwise noted.
What To Attach
Purpose of Form
If the corrected amount involves an item of income,
Use Form 1120X to:
deduction, or credit that must be supported with a
● Correct a Form 1120 or 1120-A as originally filed, or
schedule, statement, or form, attach the appropriate
as later adjusted by an amended return, a claim for
schedule, statement, or form to Form 1120X. Include
refund, or an examination, or
the corporation’s name and employer identification
number on any attachments. See the Instructions for
● Make certain elections after the prescribed deadline
Forms 1120 and 1120-A for a list of forms that may be
(see Regulations sections 301.9100-1 through 3).
required.
In addition, if the corporation requests that the IRS
Do not use Form
electronically deposit a refund of $1 million or more,
1120X to...
Instead, use...
attach Form 8302, Electronic Deposit of Tax Refund of
Apply for a quick refund
Form 4466, Corporation
$1 Million or More.
of estimated tax
Application for Quick
Refund of Overpayment of
Tax Shelters
Estimated Tax
If the corporation’s return is being amended to include
any item (loss, credit, deduction, other tax benefit, or
Obtain a tentative
income) from an interest in a tax shelter required to be
refund of taxes due to:
registered, attach Form 8271, Investor Reporting of
● A net operating loss
Form 1139, Corporation
Tax Shelter Registration Number.
(NOL) carryback
Application for Tentative
Carryback Claims
● A net capital loss
Refund
If Form 1120X is used as a carryback claim, attach
carryback
Note. Use Form 1139
copies of Form 1120 (pages 1 and 3) or Form 1120-A
● An unused general
only if 1 year or less has
(pages 1 and 2), for both the year the loss or credit
passed since the tax
business credit
originated and for the carryback year. Also attach any
year in which the
carryback
other forms, schedules, or statements that are
carryback or adjustment
● A claim of right
necessary to support the claim, including a statement
occurred. Otherwise,
adjustment under
that shows all adjustments required to figure any NOL
use Form 1120X.
section 1341(b)(1)
that was carried back. At the top of the forms or
schedules attached, write “Copy Only—Do Not
Request IRS approval
Form 3115, Application
Process.”
for a change in
for Change in
Information on Income, Deductions, Tax
accounting method
Accounting Method
Computation, etc.
For information on income, deductions, tax
When To File
computation, etc., see the Instructions for Forms 1120
File Form 1120X only after the corporation has filed its
and 1120-A for the tax year being amended.
original return. Generally, Form 1120X must be filed
Caution: Deductions for such items as char itable
within 3 years after the date the corporation filed its
contr ibutions and the dividends-received deduction
original return or within 2 years after the date the
may have to be refigured because of changes made to
corporation paid the tax (if filing a claim for a refund),
items of income or expense.
whichever is later. A return filed before the due date is
considered filed on the due date. A Form 1120X based
Where To File
on an NOL carryback, a capital loss carryback, or
File this form at the applicable Internal Revenue
general business credit carryback generally must be
Service Center where the corporation filed its original
filed within 3 years after the due date (including
return.
extensions) of the return for the tax year of the NOL,
Specific Instructions
capital loss, or unused credit. A Form 1120X based on
a bad debt or worthless security must be filed within 7
Tax Year
years after the due date of the return for the tax year in
In the space above the employer identification number,
which the debt or security became worthless. See
enter the ending month and year of the calendar or
section 6511 for more details and other special rules.
fiscal year for the tax return being amended.
Note. It often takes 3 to 4 months to process Form
1120X.
Address
Private delivery services. See the instructions for the
If the post office does not deliver mail to the street
corporation’s income tax return for information on
address and the corporation has a P.O. box, show the
certain private delivery services designated by the IRS
box number instead of the street address.
to meet the “timely mailing as timely filing/paying” rule
If the corporation receives its mail in care of a third
for tax returns and payments.
party (such as an accountant or an attorney), enter on
the street address line “C/O” followed by the third
party’s name and street address or P.O. box.
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial