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.

The Internal Revenue Service has released draft revisions of the Corporate 1120 and Partnership 1065 tax forms, along with related schedules, for public comment. The revisions include a new Schedule B ...

Instead, all profit and loss flows through to the S corporation shareholders on a Schedule K-1. ... Instead of using Form 1120, the business files taxes with Form 1120S. Advertisement.

The first two years of corporate income tax returns requiring Form 1120, Schedule UTP, Uncertain Tax Position Statement, have been filed, and the IRS has described first-year returns and provided ...