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The corporation must show its 2024 tax year on the 2023 Form 1120-S and take into account any tax law changes that are effective for tax years beginning after December 31, 2023.
Information about Form 1120-S, U.S. Income Tax Return for an S Corporation, including recent updates, related forms, and instructions on how to file. Form 1120-S is used by corporations that elect to be S corporations to report income, deductions, gains, losses, etc.
Use Form 1120, U.S. Corporation Income Tax Return, to report the income, gains, losses, deductions, credits, and to figure the income tax liability of a corporation.
To ensure compliance with the Internal Revenue Service (IRS), you need to understand the purpose and requirements of Form 1120-S. This tax document is used to report income, gains, losses, credits, deductions, and other information related to your S corporation business.
Learn to complete Form 1120S, including detailed instructions on how to answer the questions on Schedule B.
Instructions for completing IRS Form 1120S can be found on the Internal Revenue Service website. You can access the current revision of Form 1120S and the accompanying instructions in PDF format for easy reference and guidance while preparing the tax return.
IRS Form 1120S. Information you’ll need to file Form 1120S. Before you jump in to the form, you’ll need to have the following items handy: Your date of incorporation; A list of your products or services; Your business activity code; Your Employer Identification Number (EIN)
Form 1120-S is how S corporations report how much they make to the Internal Revenue Service (IRS). So, if your business is an S-corp or taxed as one, you’ll have to file Form 1120-S as your company’s federal income tax return.
IRS Form 1120-S is the tax form S corporations use to file a federal income tax return. This tax form informs the IRS of your total taxable earnings in a tax year. It’s used to determine an S corporation’s business income, gains, losses, tax credits, and deductions.
Form 1120-S is the annual tax return for S corporations. It must be filed with the IRS by the 15th of the third month following the end of the corporation's tax year.