Keyword Analysis & Research: filling out a form 1120

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Frequently Asked Questions

Who must file 1120?

A domestic corporation generally must file Form 1120, U.S. Corporation Income Tax Return, to report its income, gains, losses, deductions, credits, and to figure its income tax liability. Certain organizations and entities must file special returns.

When is filing due date for 1120?

If the due date falls on a Saturday, Sunday, or legal holiday, the corporation can file on the next business day. This tax year Form 1120 is due April 17, 2017.

What is the late-filing penalty for Form 1120?

Form 1120S Corporate returns have a late file penalty equal to $195 per shareholder per month for up to a maximum of 12 months - regardless of whether there is tax due or if the business recorded any loss. If an 1120S Corporate return is 12 months late with one shareholder, the late file penalty is $2,340.

Who files Form 1120?

Corporations can usually file Form 1120 electronically, using the IRS's e-file system. Corporations must file Form 1120 by the 15th day of the 3rd month after the end of their tax year, or on the next business day if this date falls on a Saturday, Sunday or holiday. Form 1120 must be signed by a corporate officer who is authorized to sign.

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