Form 1120-S is the tax return for S corporations. As such, it is used by S corporations to report their income, profits, losses, tax credits, deductions, and other information to the IRS.

In addition, Schedules M-1 and M-2, previously included in Form 1120-F, are now separate forms. Schedule M-1, Reconciliation of Income (Loss) per Books with Income per Return is used by corporations ...

On Form 1120S, line 7 on Page 1 asks for the total amount of compensation paid to officers. (Form 1120S does not ask for the amount of shareholder compensation, which is ironic since the IRS is ...

ROCK HILL, SC / ACCESSWIRE / February 17, 2022 / On March 15, 2022, S-Corporations will be required to complete and file their business income tax Form 1120-S with the IRS. For all businesses that ...

Businesses structured as S corporations can deduct payroll tax expenses on line 12 of Form 1120S. Only the employer portion of payroll taxes, not the employee portion, are deductible for the business.

Form 1120-POL is an annual income tax return that must be filed by political organizations and certain exempt organizations to report their political organization taxable income and income tax ...