! amounts of Tier 1 Employee Additional Medicare

CAUTION Tax unless the amounts weren’t withheld from

employee compensation.

If you owe tax. Pay the amount shown on line 26 by the time you file Form CT-1 X. Generally, you won’t be charged interest if you file on time, pay on time, enter the date you discovered the error, and explain the correction on line 43.

If you have a credit. You overreported RRTA taxes (you have a negative amount on line 26) and want the IRS to apply the credit to Form CT-1 for the period during which you filed Form CT-1 X. The IRS will apply your credit on the first day of the Form CT-1 year during which you filed Form CT-1 X. However, the credit you show on Form CT-1 X, line 26, may not be fully available on your Form CT-1 if the IRS corrects it during processing or you owe other taxes, penalties, or interest. The IRS will notify you if your claimed credit changes or if the amount available as a credit on Form CT-1 was reduced because of unpaid taxes, penalties, or interest.

Don’t check the box on line 1 if you’re correcting