INSTRUCTIONS: IRS AMENDED U.S. CORPORATION INCOME TAX RETURN (Form 1120X)
American corporations which need to amend a previously filed income tax return do so with a federal form 1120X. This document can be found on the website of the IRS.
IRS Amended U.S. Corporation Income Tax Return 1120X Step 1: At the top of the form, give your business name, address and employer identification number. Including your telephone number is optional.
IRS Amended U.S. Corporation Income Tax Return 1120X Step 2: Enter the name and address on your originally filed return. If the same as above, write "same."
IRS Amended U.S. Corporation Income Tax Return 1120X Step 3: Give the name of the IRS center where the original return was filed.
IRS Amended U.S. Corporation Income Tax Return 1120X Step 4: In Part I, you must calculate your income and deductions. Three columns are provided for lines 1 through 5g. Your originally reported or last adjusted figures are entered the first column, the net change in the second column, and your corrected figures in the third column.
IRS Amended U.S. Corporation Income Tax Return 1120X Step 5: Lines 1 through 4 concern your total income and tax.
IRS Amended U.S. Corporation Income Tax Return 1120X Step 6: Lines 5a through 9 concern previous payments and overpayments.
IRS Amended U.S. Corporation Income Tax Return 1120X Step 7: On line 10, enter your tax due.
IRS Amended U.S. Corporation Income Tax Return 1120X Step 8: On line 11, enter your overpayment made, if any.
IRS Amended U.S. Corporation Income Tax Return 1120X Step 9: Enter the amount of overpayment you want credited to another year, and enter the year.
IRS Amended U.S. Corporation Income Tax Return 1120X Step 10: An officer of the corporation should sign and date the form, as well as providing their title.
IRS Amended U.S. Corporation Income Tax Return 1120X Step 11: The bottom of the first page should only be completed by a paid preparer, if any.
IRS Amended U.S. Corporation Income Tax Return 1120X Step 12: In "Part II" on the second page, give a detailed explanation of all changes documented above. Include any computations performed. If the changes are the result of a net operating loss carryback, a capital loss carryback or a business credit carryback, check the box where indicated.
