Amending Business Income Tax Returns
Author: Barbara Weltman
| CPE Credit: |
1 hour for CPAs
1 hour Federal Tax Related for EAs and OTRPs
1 hour Federal Tax Law for CTEC |
This course will cover the rules for filing amended income tax returns for C corporations, S corporations, and partnerships. It provides you with an overview of why, when, where, and how to file an amended tax return for businesses.
Publication Date: November 2022
Designed For
CPAs, Enrolled Agents, Tax Return Preparers, Tax Attorneys
Topics Covered
- Details for completing Form 1120X
- Information about amending Form 1120-S
- Clarify whether to file Form 1065 or 1065X when amending partnership returns
Learning Objectives
- Identify various situations for filing or not filing amended returns
- Explain how to complete Form 1120X
- Describe whether to file Form 1065 or 1065X when amending partnership returns
- Identify within how many years after the date the business' original return was filed, including extensions, an amended return must be filed
- Identify the form a C Corporation uses to amend a tax return and the form that is filed to request a change in accounting method for a C Corporation
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (1 hour)
Program Prerequisites
None
Advance Preparation
None
