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Form 1120X (Rev. 11-2016) Page 3
Future Developments What To Attach
For the latest information about developments related to Form If the corrected amount involves an item of income, deduction,
1120X and its instructions, such as legislation enacted after they or credit that must be supported with a schedule, statement, or
were published, go to www.irs.gov/form1120x. form, attach the appropriate schedule, statement, or form to
Form 1120X. Include the corporation’s name and employer
General Instructions identification number on any attachments. See the instructions
for the applicable Form 1120 for the tax year of the claim for a
Section references are to the Internal Revenue Code unless list of forms that may be required.
otherwise noted.
In addition, if the corporation requests that the IRS
Purpose of Form electronically deposit a refund of $1 million or more, attach
Form 8302, Electronic Deposit of Tax Refund of $1 Million or
Use Form 1120X to: More.
• Correct a Form 1120 as originally filed, or as later adjusted by
an amended return, a claim for refund, or an examination, or Tax Shelters
• Make certain elections after the prescribed deadline (see If the corporation’s return is being amended for a tax year in
Regulations sections 301.9100-1 through 3). which the corporation participated in a “reportable transaction,”
attach Form 8886, Reportable Transaction Disclosure
Do not use Form 1120X to... Instead, use . . . Statement. If a reportable transaction results in a loss or credit
carried back to a prior tax year, attach Form 8886 for the
Apply for a quick refund of Form 4466, Corporation carryback years.
estimated tax Application for Quick Refund Carryback Claims
of Overpayment of Estimated
Tax If Form 1120X is used as a carryback claim, attach copies of
Form 1120, page 1 and the tax computation page, for both the
Obtain a tentative refund of year the loss or credit originated and for the carryback year.
taxes due to: Also attach any other forms, schedules, or statements that are
necessary to support the claim, including a statement that
• A net operating loss (NOL) Form 1139, Corporation shows all adjustments required to figure any NOL that was
carryback Application for Tentative carried back. At the top of the forms or schedules attached,
• A net capital loss carryback Refund write “Copy Only—Do Not Process.”
• An unused general business Note: Use Form 1139 only if 1 Carryback of an eligible small business credit (ESBC). If the
credit carryback year or less has passed since corporation is an eligible small business (as defined in section
the tax year in which the 38(c)(5)(B)) and is using Form 1120X to claim a carryback of an
• A claim of right adjustment carryback or adjustment unused ESBC, enter “SBJA 2012” at the top of Form 1120X. For
under section 1341(b)(1) occurred. Otherwise, use Form details and special rules for an ESBC, see the Instructions for
1120X. Form 3800.
Request IRS approval for a Form 3115, Application for
change in accounting method Change in Accounting Method Information on Income, Deductions, Tax
Computation, etc.
When To File For information on income, deductions, tax computation, etc.,
see the instructions for the tax return for the tax year being
File Form 1120X only after the corporation has filed its original amended.
return. Generally, Form 1120X must be filed within 3 years after Deductions for such items as charitable contributions
the date the corporation filed its original return or within 2 years and the dividends-received deduction may have to be
after the date the corporation paid the tax (if filing a claim for a refigured because of changes made to items of
refund), whichever is later. A return filed before the due date is ▲!
CAUTION income or expense.
considered filed on the due date. A Form 1120X based on an
NOL carryback, a capital loss carryback, or general business Where To File
credit carryback generally must be filed within 3 years after the
due date (including extensions) of the return for the tax year of File this form at the applicable Internal Revenue Service Center
the NOL, capital loss, or unused credit. A Form 1120X based on where the corporation filed its original return.
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 Specific Instructions
details and other special rules.
Tax Year
Note: It often takes 3 to 4 months to process Form 1120X.
In the space above the employer identification number, enter
Private delivery services. Corporations can use certain private the ending month and year of the calendar or fiscal year for the
delivery services designated by the IRS to meet the “timely tax return being amended.
mailing as timely filing” rule for tax returns. See the Instructions
for Form 1120 for more information. 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.
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