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

Form

1120X

OMB No. 1545-0132

Amended U.S. Corporation
Income Tax Return

(Rev. January 2011)
Department of the Treasury
Internal Revenue Service

For tax year ending
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(Enter month and year.)
Employer identification number

Name

Please
Type
or
Print

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.”)
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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)

1

Total income .

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2

Total deductions

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Taxable income. Subtract line 2 from line 1 .

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Total tax .

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

(c) Correct amount

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 .

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

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9

Subtract line 8 from line 7

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9

Tax due. Subtract line 9 from line 4, column (c). If paying by check, make it payable to the
“United States Treasury” . . . . . . . . . . . . . . . . . . . . . . . ▶

10

Overpayment. Subtract line 4, column (c), from line 9 .
Enter the amount of line 11 you want: Credited to 20

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Tax Due or Overpayment (see instructions)
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Signature of officer

Print/Type preparer's name
Firm’s name

Date

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Paid
Preparer
Use Only

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Refunded

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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.

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Sign
Here

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Estimated tax ▶

Title

Preparer’s signature

Date

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PTIN

Firm's EIN ▶

Firm’s address ▶

For Paperwork Reduction Act Notice, see instructions.

Check
if
self-employed
Phone no.

Cat. No. 11530Z

Form 1120X (Rev. 1-2011)

Form 1120X (Rev. 1-2011)

Part II

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
in the instructions.)

If the change is due to a net operating loss carryback, a capital loss carryback, or a general business credit carryback, see
Carryback Claims in the instructions, and check here . . . . . . . . . . . . . . . . . . . . . . . . ▶

Form 1120X (Rev. 1-2011)

Form 1120X (Rev. 1-2011)

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What's New

What To Attach

Beginning in 2010, certain eligible small business credits are
carried back five years. If Form 1120-X is used to claim the
carryback of any such unused credit, see Carryback of an
eligible small business credit (ESBC), below.

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 the tax year of the
claim 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.

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

Purpose of Form
Use Form 1120X to:
• Correct a Form 1120 (or Form 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... Instead, use . . .
Apply for a quick refund of
estimated tax

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

Obtain a tentative refund of
taxes due to:
• A net operating loss (NOL)
carryback
• A net capital loss carryback
• An unused general business
credit carryback
• A claim of right adjustment
under section 1341(b)(1)
Request IRS approval for a
change in accounting method

Tax Shelters
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.
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.

Carryback Claims
Form 1139, Corporation
Application for Tentative
Refund
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.
Form 3115, Application for
Change in Accounting Method

When To File
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.
Note. It often takes 3 to 4 months to process Form 1120X.
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.
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 Form 1120X is used as a carryback claim, attach copies of
Form 1120, (or Form 1120-A, if applicable), pages 1 and the tax
computation page, 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.”
Carryback of an eligible small business credit (ESBC). If the
corporation is an eligible small business (as defined in section
38(c)(5(B)) and is using Form 1120X to claim a carryback of an
unused ESBC, enter “SBJA 2012” at the top of Form 1120X. For
details and special rules regarding an ESBC, see the
Instructions for Form 3800.

Information on Income, Deductions, Tax
Computation, etc.
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.

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

Specific Instructions
Tax Year
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.

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.

Form 1120X (Rev. 1-2011)

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 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.
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 electronic
funds transfers, including the Electronic Federal Tax Payment
System (EFTPS), enclose a check with this form and make it
payable to the “United States Treasury.”
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.
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.

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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 Use Only” area. See the Instructions for Forms 1120
for more information.
Note. A paid preparer may sign original or amended returns by
rubber stamp, mechanical device, or computer software
program.
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.
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
. . . . . . . . . . 12 hrs., 40 min.
Learning about the law
or the form . . . . . . . . . . . . . 1 hr., 19 min.
Preparing the form . . . . . . . . . 3 hrs., 27 min.
Copying, assembling, and
sending the form to the IRS . . . . . . . . . 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.