Tax Correction

Amended (Tax) Return
An amended tax return is a form filed as a correction, supplement, or replacement for an original tax return. For instance, individuals use Form 1040X, and corporations use Form 1120X, to claim refunds or rectify errors in prior year tax returns.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.