Understanding the purpose of a tax form or schedule is never a pleasant experience. That's why we created a comprehensive tax form library, showcasing the most frequently used tax forms and schedules you may encounter. We believe the process of staying compliant with your taxes should be as effortless as possible.
General Information
- What is the form number? Form 1120S
- What government agency is it filed with? The Internal Revenue Service (IRS)
- What is the form name? U.S. Income Tax Return for an S Corporation
- What is this form about? Form 1120S is a document used by S corporations to report their financial operations to the relevant tax authorities. It provides details about the corporation's income, losses, deductions, and credits. Shareholders of the S corporation use the information from this form and supplemental documents known as Schedule K-1s to complete their individual tax returns. This ensures that they report and pay taxes on their respective shares of the corporation's income.
What does it look like?
Resources
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How can we help you today?
Looking for more information about this or other tax forms? The tax team at DiMercurio Advisors are tax compliance experts. We are passionate about ensuring you are well-informed and in control of your tax situation.