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 |
Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2027 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
This course covers 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: September 2024
Designed For
CPAs, Enrolled Agents, Tax Return Preparers, Tax Attorneys
Topics Covered
- When to file or not file an amended return
- Determining when an amended return MUST be filed
- Time limits for filing amended returns seeking a refund
- Amended returns for C Corporations
- Completing Form 1120X
- Amended returns for S corporations
- Amended returns for partnerships
- Determining when to use Form 1065 marked as amended or Form 1065-X
- Completing Form 1065-X
Learning Objectives
- List situations for filing or not filing amended returns
- Explain how to complete Form 1120X
- Describe whether to file Form 1065 or 1065-X when amending partnership returns
- Identify the form filed for a change in accounting method for a C corporation
- Identify how many months the IRS has indicated that it can take to process an amended return
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (1 hour)
Program Prerequisites
None
Advance Preparation
None
