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How do I report changes due to federal amended returns and audits?

April 26, 2017audits changes Federal report returns

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How do I report changes due to federal amended returns and audits?

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Any corporation whose reported amounts of federal taxable income or deductions are changed by the IRS must report the change or correction within 90 days of the determination by filing an Amended Nebraska Corporation Income Tax Return, Form 1120XN. Any corporation which files an amended return with the IRS must file a Form 1120XN within 90 days of the filing of the amended federal return (Neb.Rev.Stat. Section 77-2775).