IRS Form 1120-S U.S. Income Tax Return for an S Corporation

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Instructions for IRS Form 1120-S Schedule K-3 Shareholder's Share of Income, Deductions, Credits, Etc.- International

What Is IRS Form 1120-S?

This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury. Check the official IRS-issued instructions before completing and submitting the form.

FAQ

Q: What is IRS Form 1120-S?
A: IRS Form 1120-S is the U.S. Income Tax Return specifically designed for S Corporations.

Q: Who needs to file IRS Form 1120-S?
A: S Corporations need to file IRS Form 1120-S.

Q: What is an S Corporation?
A: An S Corporation is a type of business entity that passes its income, deductions, and credits to its shareholders, who report them on their individual tax returns.

Q: When is the due date for filing IRS Form 1120-S?
A: The due date for filing IRS Form 1120-S is usually March 15th.

Q: Can an S Corporation file for an extension to file IRS Form 1120-S?
A: Yes, an S Corporation can file for an extension to file IRS Form 1120-S. The extension usually grants an additional six months to file, moving the due date to September 15th.

Q: Are there any penalties for late filing of IRS Form 1120-S?
A: Yes, there are penalties for late filing of IRS Form 1120-S. The penalty amount depends on the length of the delay and the size of the corporation.

Q: Is the information on IRS Form 1120-S confidential?
A: Yes, the information on IRS Form 1120-S is confidential and protected by law.

Q: What if I make a mistake on IRS Form 1120-S?
A: If you make a mistake on IRS Form 1120-S, you can file an amended return using Form 1120X.