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#1
09-09-2004, 03:50 PM
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 Re: Are we too late? "LKYPon" <lkypon[at]aol.com> wrote: - quote - > In 2002, we timely prepared a 2001 corporate tax return that
Nope. The 1120X for 2000 for an NOL carryback can be filed,> had a NOL. We included a Form 1139 to claim a refund for > 2000. Client never mailed in Form 1139. I told her to send > it in and the IRS sent it back to us because it was filed > more than 12 months after the 2001 return was filed. > Is it too late for us to file an 1120X for the 2000 tax > return to claim the NOL from 2001? essentially, until the statute of limitations expires for the loss year (2001). Its just the 1139 that must be filed by the end of the year following the loss. -- Bruce E. Cobern, CPA mailto:bec[at]pipeline.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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09-09-2004, 03:30 PM
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| Re: Are we too late? "LKYPon" <lkypon[at]aol.com> wrote: - quote - > In 2002, we timely prepared a 2001 corporate tax return that
You have until the statute runs out on the year generating> had a NOL. We included a Form 1139 to claim a refund for > 2000. Client never mailed in Form 1139. I told her to send > it in and the IRS sent it back to us because it was filed > more than 12 months after the 2001 return was filed. > Is it too late for us to file an 1120X for the 2000 tax > return to claim the NOL from 2001? the NOL. -- David M. Woods, EA, ChFC, CLU Woods Financial Services Norwood, MA 02062 www.woods-financial.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
09-08-2004, 04:51 PM
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| Are we too late? In 2002, we timely prepared a 2001 corporate tax return that had a NOL. We included a Form 1139 to claim a refund for 2000. Client never mailed in Form 1139. I told her to send it in and the IRS sent it back to us because it was filed more than 12 months after the 2001 return was filed. Is it too late for us to file an 1120X for the 2000 tax return to claim the NOL from 2001? Thanks! << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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