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

Page

Form 1120X (Rev. 12-2004)

Column (a)

Who Must Sign

Enter the amounts from the corporation’s return as

The return must be signed and dated by:

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

● The president, vice president, treasurer, assistant

was changed or audited by the IRS, enter the amounts

treasurer, chief accounting officer, or

as adjusted.

● Any other corporate officer (such as tax officer)

Column (b)

authorized to sign.

Enter the net increase or net decrease for each line

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

being changed. Use parentheses around all amounts

receiver, trustee, or assignee, the fiduciary must sign

that are decreases. Explain the increase or decrease in

the return, instead of the corporate officer. A return

Part II.

signed by a receiver or trustee in bankruptcy on behalf

of a corporation must be filed with a copy of the order

Column (c)

or instructions of the court authorizing signing of the

Note. Amounts entered on lines 1 through 4 in column

return.

If an employee of the corporation completes Form

the applicable lines of the tax return if all adjustments

1120X, the paid preparer’s space should remain blank.

and corrections were taken into account.

Anyone who prepares Form 1120X but does not

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

charge the corporation should not complete that

amount in column (a) or subtract the column (b)

section. Generally, anyone who is paid to prepare the

decrease from column (a). Enter the result in column

return must sign it and fill in the “Paid Preparer’s Use

(c). For an item that did not change, enter the amount

Only” area. See the Instructions for Forms 1120 and

from column (a) in column (c).

1120-A for more information.

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

Note. A paid preparer may sign original returns,

income on line 3, column (c). Use Schedule J, Form

amended returns, or requests for filing extensions by

1120, or Part I, Form 1120-A, of the original return to

rubber stamp, mechanical device, or computer

make the necessary tax computation.

software program.

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

7004, Application for Automatic Extension of Time To

Privacy Act and Paperwork Reduction Act Notice.

File Corporation Income Tax Return.

We ask for the information on this form to carry out the

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

Internal Revenue laws of the United States. You are

payments, such as the credit for tax on

required to give us the information. We need it to

ozone-depleting chemicals or backup withholding.

ensure that you are complying with these laws and to

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

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

of the original return, even if the corporation chose to

Section 6109 requires return preparers to provide their

credit all or part of this amount to the next year’s

identifying numbers on the return.

estimated tax. This amount must be considered in

You are not required to provide the information

preparing Form 1120X because any refund due from

requested on a form that is subject to the Paperwork

the original return will be refunded separately (or

Reduction Act unless the form displays a valid OMB

credited to estimated tax) from any additional refund

control number. Books or records relating to a form or

claimed on Form 1120X. If the original return was

its instructions must be retained as long as their

changed by the IRS and the result was an additional

contents may become material in the administration of

overpayment of tax, also include that amount on line 8.

any Internal Revenue law. Generally, tax returns and

return information are confidential, as required by

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

section 6103.

Electronic Federal Tax Payment System (EFTPS),

enclose a check with this form and make it payable to

The time needed to complete and file this form will

the “United States Treasury.” Do not use the

vary depending on individual circumstances. The

depository method of payment.

estimated average time is:

Line 11. Overpayment. If the corporation is entitled to

Recordkeeping

13 hr., 9 min.

a refund larger than the amount claimed on the original

Learning about the law

return, line 11 will show only the additional amount of

or the form

1 hr., 14 min.

overpayment. This additional amount will be refunded

Preparing the form

3 hr., 22 min.

separately from the amount claimed on the original

Copying, assembling, and

return. The IRS will figure any interest due and include

sending the form to the IRS

32 min.

it in the refund.

If you have comments concerning the accuracy of

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

these time estimates or suggestions for making this

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

form simpler, we would be happy to hear from you.

tax period. No interest will be paid on this amount. The

You can write to the Internal Revenue Service, Tax

election to apply part or all of the overpayment to the

Products Coordinating Committee,

next year’s estimated tax is irrevocable.

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

IR-6406, Washington, DC 20224. Do not send the form

to this address. Instead, see Where To File on page 3.

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

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