Part 1: Select ONLY One Process

Because Form CT-1 X may be used to file either an adjusted railroad retirement tax return or a claim for refund or abatement, you must check one box on either line 1 or line 2. Don’t check both boxes.

Correcting an employment tax credit. For boxes 1 and 2, if you underreported an employment tax credit, treat it like you overreported a tax amount. If you overreported an employment tax credit, treat it like you underreported a tax amount. If you're filing Form CT-1 X to adjust only an employment tax credit and you're not correcting any overreported taxes on Form CT-1 X, lines 6–17, skip lines 4 and 5.

1. Adjusted Railroad Retirement Tax Return Check the box on line 1 if you’re correcting underreported tax amounts or overreported tax amounts and you would like to use the adjustment process to correct the errors.

If you’re correcting both underreported tax amounts and overreported tax amounts on this form, you must check this box. If you check this box, any negative amount shown on line 26 will be applied as a credit (tax deposit) to your Form CT-1 for the year in which you’re filing this form. See Example—You want your overreported tax applied as a credit on Form CT-1 , earlier.

Form CT-1 X can’t be used to correct overreported