Amended 1120 tax return

[amr650]

I have incorrectly filed 1120 for my foreign-owned US single-member LLC.  I wrote numbers in the wrong fields.

The company is not engaged in U.S. trade or business (USTOB) and has no effectively connected income (ECI) as I already learned before establishing the LLC I won't be taxed by IRS in this condition and I already paid my income tax in my home country.

I have received a CP132 notice from IRS saying: (We believe there's a miscalculation on your form 1120, which affects the following area of your return * tax computation.  We changed your return to correct this error. As a result, you own $24,268.92)

Now, can I file a 2021 amended tax return to remove this amount, or what should be the proper action?

[Anonymous_ · Accepted solution]

Respond to the notice as soon as possible with a precise statement explaining your position.

[amr650]

Thanks so much for your response!

Is there a form that I have to file to explain the situation?
Should I hire a CPA to response and explain my situation?

[Mike9241]

Is there a form that I have to file to explain the situation?

you could include an 1120-X with your response to the notice showing no income or expenses in column C and attach an explanation.  sign and date the form and include the IRS notice. 

Should I hire a CPA to response and explain my situation

if you don't feel comfortable doing it yourself with the accompanying explanation then you should use a pro to assist you.