Form 1040-X

(redirected from Forms 1040X)

Form 1040-X

A form that one uses to amend a previously filed Form 1040, which is used to report one's income and pay the income tax.
References in periodicals archive ?
At today's plea hearing, the prosecutor told the Court that had the case proceeded to trial the government's evidence would have proven that from January 1, 1997 through December 31, 1998, ROSELLI, a CPA, prepared standard income tax returns, forms 1040, and amended income tax returns, forms 1040X, wherein he inflated the charitable contributions and un-reimbursed employee business expense deductions in an effort to obtain larger tax refunds for his clients.
However, because the Forms 1040X and 1120X result in a pre-refund review, the Service may offset an unassessed, barred deficiency (including barred interest) in the carryback year against the requested refund.
Although a client filing a carryback may need the refund as quickly as possible, a practitioner must be sure to advise the client of the significant distinctions between the filing of the request for tentative allowance on Forms 1045 and 1139 versus the claims for refund on Forms 1040X and 1120X.