Amended to 1120 to take retirement contribution

[austin3515]

An employer filed his September 30, 2021 1120S tax return a few weeks ago. This return did not include any employer contributions. Subsequent to filing the return, which was on extension until June 15, 2022, he has decided he would like to fund an employer contribution.

Because the contribution will be funded before the extended due date of the return, I cannot think of any reason he would not be able to file the amended return accordingly. Is there some rule that indicates that once you file the return it's case closed, or is it permissible to amend under the circumstances?

[Bill Presson]

I believe you are correct. The only exception I recall is if the employer filed an extension, but then filed before the original due date and didn't use the extension.

[RatherBeGolfing]

I'll just add that in a case like this, I believe it should be filed as a superseding return rather than an amended return.  A superseding return can be filed after the first filing but before the due date (as extended).  A superseding return will be considered the first return except for the SOL on assessments and refund claims, which start with the superseded return.  

It gets more technical, but I think the gist of it is that a superseding return will be treated as the original return, whereas an amended return changes something that was filed in the original return.

Im not sure that it makes a big difference in this situation, but a superseding return can change things that an amending return cant. 

[austin3515]

I copied and pated and sent to the CPA!

[CuseFan]

On 1/24/2022 at 1:42 PM, austin3515 said:

copied and pated

I think that makes for an awful tasting pate!