Corrections and Clarifications to the 2011 Instructions for Form 1120 -- 26-JAN-2012
The 2011 Instructions for Form 1120 have been updated to make the following corrections and clarifications.
On page 9, in the instructions for Line 10, Other Income, and on page 16, in the instructions for Schedule J, Line 2, under Deferred tax under section 1291, the references to Form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund, were corrected and clarified.
On page 10, the instructions for Line 12, Compensation of Officers, were clarified to state that the amounts not deductible as officers compensation include amounts contributed under a salary reduction SEP agreement or a SIMPLE IRA plan.
Page Last Reviewed or Updated: 2012-08-04
