Form 1120-X Amended U.S. Corporation Tax Return

1120X

OMB No. 1545-0132

Amended U.S. Corporation
Income Tax Return

Form
(Rev. January 2008)

Department of the Treasury
Internal Revenue Service

For tax year ending
©
(Enter month and year.)

Name

Please
Type
or
Print

Employer identification number

Number, street, and room or suite no. (If a P.O. box, see instructions.)

City or town, state, and ZIP code

Telephone number (optional)
(

)

Enter name and address used on original return (If same as above, write “Same.”)

Internal Revenue Service Center
where original return was filed

©

Fill in applicable items and use Part II on the back to explain any changes
Part I

(a) As originally
reported or as
previously adjusted

Income and Deductions (see instructions)

Total income (Form 1120 or 1120-A, line 11)
Total deductions (total of lines 27 and 29c, Form 1120,
or lines 23 and 25c, Form 1120-A)

1

3

Taxable income. Subtract line 2 from line 1

3

4

Tax (Form 1120, line 31, or Form 1120-A, line 27)

4

1
2

(b) Net change —
increase or (decrease) —
explain in Part II

(c) Correct amount

2

Payments and Credits (see instructions)
5a
b
c
d
e
f
g

Overpayment in prior year allowed as a credit
Estimated tax payments
Refund applied for on Form 4466
Subtract line 5c from the sum of lines 5a and 5b
Tax deposited with Form 7004
Credit from Form 2439
Credit for federal tax on fuels and other refundable
credits

5a
5b
5c
5d
5e
5f
5g

6

Tax deposited or paid with (or after) the filing of the original return

6

7
8

Add lines 5d through 6, column (c)
Overpayment, if any, as shown on original return or as later adjusted

7
8

9

Subtract line 8 from line 7

9

Tax Due or Overpayment (see instructions)
10

11
12

Tax due. Subtract line 9 from line 4, column (c). If paying by check, make it payable to the “United
©
States Treasury”
Overpayment. Subtract line 4, column (c), from line 9
Enter the amount of line 11 you want: Credited to 20

Sign
Here
Paid
Preparer’s
Use Only

10

©

estimated tax

©

Refunded

11
12

©

Under penalties of perjury, I declare that I have filed an original return and that I have examined this amended return, including accompanying
schedules and statements, and to the best of my knowledge and belief, this amended return is true, correct, and complete. Declaration of preparer
(other than taxpayer) is based on all information of which preparer has any knowledge.

©

Signature of officer
Preparer’s
signature

©

Firm’s name (or
yours if self-employed),
address, and ZIP code

Date
Date

©

For Privacy Act and Paperwork Reduction Act Notice, see page 4.

©

Title
Preparer’s SSN or PTIN

Check if
self-employed
EIN
Phone no.
Cat. No. 11530Z

(

)
Form

1120X

(Rev. 1-2008)

Page 2
Explanation of Changes to Items in Part I (Enter the line number from page 1 for the items you are
changing, and give the reason for each change. Show any computation in detail. Also, see What To Attach
on page 3 of the instructions.)

Form 1120X (Rev. 1-2008)

Part II

If the change is due to a net operating loss carryback, a capital loss carryback, or a general business credit carryback, see
©
Carryback Claims on page 3, and check here

Form

1120X

(Rev. 1-2008)

Page

Form 1120X (Rev. 1-2008)

3

General Instructions

What To Attach

Section references are to the Internal Revenue Code unless
otherwise noted.

If the corrected amount involves an item of income,
deduction, or credit that must be supported with a schedule,
statement, or form, attach the appropriate schedule,
statement, or form to Form 1120X. Include the corporation’s
name and employer identification number on any
attachments. See the instructions for Form 1120 or 1120-A (if
applicable) for a list of forms that may be required.
In addition, if the corporation requests that the IRS
electronically deposit a refund of $1 million or more, attach
Form 8302, Electronic Deposit of Tax Refund of $1 Million or
More.

Purpose of Form
Use Form 1120X to:
● Correct a Form 1120 or 1120-A (if applicable) as originally
filed, or as later adjusted by an amended return, a claim for
refund, or an examination, or
● Make certain elections after the prescribed deadline (see
Regulations sections 301.9100-1 through 3).
Do not use Form 1120X
to...
Apply for a quick refund of
estimated tax

Tax Shelters
Form 4466, Corporation
Application for Quick
Refund of Overpayment of
Estimated Tax

If the corporation’s return is being amended for a tax year in
which the corporation participated in a “reportable
transaction,” attach Form 8886, Reportable Transaction
Disclosure Statement. If a reportable transaction results in a
loss or credit carried back to a prior tax year, attach Form
8886 for the carryback years.

Form 1139, Corporation
Application for Tentative
Refund

If the corporation’s return is being amended to include any
item (loss, credit, deduction, other tax benefit, or income)
from an interest in a tax shelter required to be registered,
attach any applicable Forms 8271, Investor Reporting of Tax
Shelter Registration Number, due or required to be filed
before August 3, 2007.

Instead, use...

Obtain a tentative refund
of taxes due to:
● A net operating loss
(NOL) carryback
● A net capital loss
carryback

● A claim of right
adjustment under section
1341(b)(1)

Note. Use Form 1139 only
if 1 year or less has
passed since the tax year
in which the carryback or
adjustment occurred.
Otherwise, use Form
1120X.

Request IRS approval for a
change in accounting
method

Form 3115, Application for
Change in Accounting
Method

● An unused general
business credit carryback

When To File

Carryback Claims
If Form 1120X is used as a carryback claim, attach copies of
Form 1120, pages 1 and 3, or Form 1120-A, pages 1 and 2
(if applicable), for both the year the loss or credit originated
and for the carryback year. Also attach any other forms,
schedules, or statements that are necessary to support the
claim, including a statement that shows all adjustments
required to figure any NOL that was carried back. At the top
of the forms or schedules attached, write “Copy Only—Do
Not Process.”

Information on Income, Deductions, Tax
Computation, etc.

File Form 1120X only after the corporation has filed its
original return. Generally, Form 1120X must be filed within 3
years after the date the corporation filed its original return or
within 2 years after the date the corporation paid the tax (if
filing a claim for a refund), whichever is later. A return filed
before the due date is considered filed on the due date. A
Form 1120X based on an NOL carryback, a capital loss
carryback, or general business credit carryback generally
must be filed within 3 years after the due date (including
extensions) of the return for the tax year of the NOL, capital
loss, or unused credit. A Form 1120X based on a bad debt
or worthless security must be filed within 7 years after the
due date of the return for the tax year in which the debt or
security became worthless. See section 6511 for more details
and other special rules.

For information on income, deductions, tax computation,
etc., see the instructions for the tax return for the tax year
being amended.
Caution: Deductions for such items as charitable
contributions and the dividends-received deduction may have
to be refigured because of changes made to items of income
or expense.

Note. It often takes 3 to 4 months to process Form 1120X.

Tax Year

Private delivery services. See the instructions for the
corporation’s income tax return for information on certain
private delivery services designated by the IRS to meet the
“timely mailing as timely filing/paying” rule for tax returns and
payments.

In the space above the employer identification number, enter
the ending month and year of the calendar or fiscal year for
the tax return being amended.

Caution: Private delivery services cannot deliver items to
P.O. boxes. Use the U.S. Postal Service to send any item to
an IRS P.O. box address.

If the post office does not deliver mail to the street address
and the corporation has a P.O. box, show the box number
instead of the street address.

Where To File
File this form at the applicable Internal Revenue Service
Center where the corporation filed its original return.

Specific Instructions

Address

Page

Form 1120X (Rev. 1-2008)

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

Column (a)
Enter the amounts from the corporation’s return as originally
filed or as it was later amended. If the return was changed or
audited by the IRS, enter the amounts as adjusted.

Column (b)
Enter the net increase or net decrease for each line being
changed. Use parentheses around all amounts that are
decreases. Explain the increase or decrease in Part II.

Column (c)
Note. Amounts entered on lines 1 through 4 in column (c)
must equal the amounts that would be entered on the
applicable lines of the tax return if all adjustments and
corrections were taken into account.
Lines 1 and 2. Add the increase in column (b) to the amount
in column (a) or subtract the column (b) decrease from
column (a). Enter the result in column (c). For an item that did
not change, enter the amount from column (a) in column (c).
Line 4. Figure the new amount of tax using the taxable
income on line 3, column (c). Use Schedule J, Form 1120, or
Part I, Form 1120-A (if applicable), of the original return to
make the necessary tax computation.
Line 5e. Enter the amount of tax deposited with Form 7004,
Application for Automatic 6-Month Extension of Time To File
Certain Business Income Tax, Information, and Other
Returns.
Line 5g. Include on line 5g any write-in credits or payments,
such as the credit for tax on ozone-depleting chemicals or
backup withholding.
Enter on this line the amount that reflects a refund or
credit of the federal telephone excise tax for amounts that
you were billed for telephone services after February 28,
2003, and before August 1, 2006. Eligible entities should see
Form 8913, Credit for Federal Telephone Excise Tax Paid,
and the separate instructions.
The amounts issued as refund or credit for the
telephone excise tax can only be taken on the
corporation’s 2006 tax return.
CAUTION

Line 8. Enter the amount from the “Overpayment” line of the
original return, even if the corporation chose to credit all or
part of this amount to the next year’s estimated tax. This
amount must be considered in preparing Form 1120X
because any refund due from the original return will be
refunded separately (or credited to estimated tax) from any
additional refund claimed on Form 1120X. If the original
return was changed by the IRS and the result was an
additional overpayment of tax, also include that amount on
line 8.
Line 10. Tax due. If the corporation does not use the
Electronic Federal Tax Payment System (EFTPS), enclose a
check with this form and make it payable to the “United
States Treasury.” Do not use the depository method of
payment.
Line 11. Overpayment. If the corporation is entitled to a
refund larger than the amount claimed on the original return,
line 11 will show only the additional amount of overpayment.
This additional amount will be refunded separately from the
amount claimed on the original return. The IRS will figure any
interest due and include it in the refund.

4

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.

Who Must Sign
The return must be signed and dated by:
● The president, vice president, treasurer, assistant treasurer,
chief accounting officer, or
● Any other corporate officer (such as tax officer) authorized
to sign.
If a return is filed on behalf of a corporation by a receiver,
trustee, or assignee, the fiduciary must sign the return,
instead of the corporate officer. A return signed by a receiver
or trustee in bankruptcy on behalf of a corporation must be
filed with a copy of the order or instructions of the court
authorizing signing of the return.
If an employee of the corporation completes Form 1120X,
the paid preparer’s space should remain blank. Anyone who
prepares Form 1120X but does not charge the corporation
should not complete that section. Generally, anyone who is
paid to prepare the return must sign it and fill in the “Paid
Preparer’s Use Only” area. See the Instructions for Forms
1120 and 1120-A for more information.
Note. A paid preparer may sign original returns, amended
returns, or requests for filing extensions by rubber stamp,
mechanical device, or computer software program.
Privacy Act and Paperwork Reduction Act Notice. We ask
for the information on this form to carry out the Internal
Revenue laws of the United States. You are required to give
us the information. We need it to ensure that you are
complying with these laws and to allow us to figure and
collect the right amount of tax. Section 6109 requires return
preparers to provide their identifying numbers on the return.
You are not required to provide the information requested
on a form that is subject to the Paperwork Reduction Act
unless the form displays a valid OMB control number. Books
or records relating to a form or its instructions must be
retained as long as their contents may become material in
the administration of any Internal Revenue law. Generally, tax
returns and return information are confidential, as required by
section 6103.
The time needed to complete and file this form will vary
depending on individual circumstances. The estimated
average time is:
Recordkeeping
Learning about the law
or the form
Preparing the form
Copying, assembling, and
sending the form to the IRS

13 hr., 9 min.
1 hr., 14 min.
3 hr., 22 min.
32 min.

If you have comments concerning the accuracy of these
time estimates or suggestions for making this form simpler,
we would be happy to hear from you. You can write to the
Internal Revenue Service, Tax Products Coordinating
Committee, SE:W:CAR:MP:T:T:SP, 1111 Constitution Ave.
NW, IR-6526, Washington, DC 20224. Do not send the form
to this address. Instead, see Where To File on page 3.