As a business owner, you have so many responsibilities, yet so little time. You need to handle your business’s books, manage day-to-day business operations, and keep your business on track for success. In addition to your countless other tasks, you need to file asmall business tax return。

If you’re a corporation (or file as a corporation), you need to file Form 1120 for your tax return. Read on to learn what is Form 1120 and whether your business needs to file one.

What is Form 1120?

Form 1120, U.S. Corporate Income Tax Return, is the form corporations must use to report income, gains, losses, deductions, and credits. Business owners also use Form 1120 to figure out their income tax liability. If your business is incorporated, you may need to use the form to file income taxes for the year.

After completing federal Form 1120, you will know how much your corporation needs to pay in taxes. In most cases, these taxes are paid as anestimated taxon a quarterly basis.

Corporations use Form 1120-W, Estimated Taxes for Corporations, to report any estimated taxes. If you are part of a corporation that has a tax liability of $500 or more for the tax year, file Form 1120-W in addition to Form 1120.

IRS Form 1120: Q&A session

瘙痒以了解有关表格1120的更多信息？在下面查看我们漂亮的问答环节，以了解表格1120的来龙去脉。

Who must file Form 1120?

As a brief recap, acorporation或C Corp是一个type of business structurethat is a separate legal entity from its owners. Corporation owners, or shareholders, are not personally liable for the business’s debts and actions.

如果您的业务是公司或公司作为公司的文件，则需要提交表格1120。这包括：

• C公司或C军团
• LLCs作为公司提交

如果您合并业务，则必须每年提交表格。

But what about S corporations, you ask? Do S Corps need to file Form 1120? The answer: no. Although an S corporation has the word “corporation” in the title, S Corps don’t file Form 1120. Instead,S corporationsmust file Form 1120-S, U.S. Income Tax Return for an S Corporation.

What information is on Form 1120?

要填写1120表格，您将需要收集一些信息。在您的表格上工作之前，请务必便于以下信息：

• Your Employer Identification Number (EIN)
• Date you incorporated
• 全部的assetsand income
• Gross receipts
• 商品成本（齿轮）
• 获得的任何股息，利息和特许权使用费
• Capital gains
• 税收减免
• Business tax credits, if applicable

Form 1120 tax form consists of six pages. The first page has four sections you must fill out:

1. Basic corporation information
2. Income
3. 扣除
4. Tax, refundable credits, and payments

其他五页遍及您的股息，特殊扣除，balance sheet和其他会计信息。

Before you file Form 1120, don’t forget to sign and date the bottom of the first page.

How do you file Form 1120?

You can either file Form 1120 electronically or by mail. If you decide to file the form via mail, you must fill out the form and mail it to the IRS.

如果您选择为您的表格电子文件，则可以通过IRS’s e-File service。报告资产或更多资产的公司必须以电子方式提交1120。

What is the deadline for the form?

The due date for Form 1120 is based on the corporation’s year-end date.

公司纳税申报表上通常是由于15th day of the fourth month after the end of the company’s financial year. For example, a corporation with a year-end date of December 31 must file and pay taxes by April 15.

However, if your business’s fiscal year ends on June 30, you must file Form 1120 by the 15th day of the third month.

What should you do if you make a Form 1120 mistake?

If you make a mistake on Form 1120, you must file an amended tax return usingForm 1120X, Amended U.S. Corporation Income Tax Return. You can use Form 1120X to correct the Form 1120 that you already filed.

通常，您必须在提交原始申报表的三年内提交1120X表格。

To fill out Form 1120X, you need the following information:

• Business name
• 业务地址
• EIN
• Income and deductions
• 付款和积分
• 应付税款或多付税
• Explanation of changes
• 签名

If the correction includes income, deductions, or credit, attach the appropriate schedule, statement, or form to Form 1120X.

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This is not intended as legal advice; for more information, please点击这里。