Form 1120-IC-DISC

(redirected from 1120ICDISC Forms)

Form 1120-IC-DISC

A tax return for the income of an IC-DISC, which is a company in the United States that exports to non-U.S.-based clients. An IC-DISC files Form 1120-IC-DISC to report its revenue, expenses, and profits or losses. It also uses Form 1120-IC-DISC to claim deductions and credits, which is especially important in the United States because corporate tax rates historically have been high compared to other countries.