Laws.com Legal Forms Guide Form 1120 X is used for amending a previously filed income tax return for American corporations. This form can be found on the IRS website. The first step is to provide your business name, address, employer identification number, and optional telephone number at the top of the form. In step 2, enter the name and address from your originally filed return, if it remains unchanged. Step 3 requires providing the name of the IRS Center where the original return was filed. In part 1, you need to calculate your income and deductions. Three columns are provided for lines one through five: the first column for your originally reported or last adjusted figures, the second column for the net change, and the third column for your corrected figures. Lines one through four in step five pertain to your total income and tax. Lines five a through nine in step six concern previous payments and overpayments. Line ten in step seven is for entering your tax due. Line 11 in step eight is for entering any overpayment made, if applicable. In step nine, you need to enter the amount of overpayment you want credited to another year, along with specifying the year. Step ten requires an officer of the corporation to sign, date the form, and provide their title. The bottom of the first page should only be completed by a paid preparer, if one was involved, according to step 11. In part two on the second page, you should offer a detailed explanation of all the changes documented above, including any computations. Anything related to a net operating loss carry-back, a capital loss carry-back, or a business credit carry-back should be checked as indicated. For more informational videos, please visit laws.com.
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