Get Instructions For Form 1139 (10/2018)Internal Revenue Service

If you have tax refunds to go back and get, consider filing Form 1139. There are some critical benefits to filing Form 1139 instead of amending a return via Form 1120X: Refunds are processed within 90 days. Form 1120X can take years to review.

Corporations (other than S corporations) use this form to apply for a quick refund of taxes from: the carryback of a net operating loss (or a loss from operations of a life insurance company), the carryback of a net capital loss, the carryback of an unused general business credit, or.

If a taxpayer files a late Form 1139 or Form 1045, as applicable, to apply for a tentative refund from the carryback of an NOL, the Form 1139 or Form 1045 will be rejected, and the taxpayer will be instructed to file amended returns for each applicable tax year in the five-year carryback period.

Individuals file a tentative refund claim on Form 1045, Application for Tentative Refund. Corporations use Form 1139, Corporation Application for Tentative Refund. Many taxpayers prefer Form 1045 or Form 1139 because the law requires the IRS to process the refund request within 90 days.

Generally, the corporation must file Form 1139 within 12 months of the end of the tax year in which an NOL, net capital loss, unused credit, or claim of right adjustment arose. The corporation must file its income tax return for the tax year no later than the date it files Form 1139.

Corporations (other than S corporations) use this form to apply for a quick refund of taxes from: the carryback of a net operating loss (or a loss from operations of a life insurance company), the carryback of a net capital loss, the carryback of an unused general business credit, or.