Form 1120-F

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Form 1120-F

A tax return for the U.S.-sourced income of a foreign corporation. A foreign corporation files Form 1120-F to report its U.S. revenue, expenses and profits or losses. It also uses Form 1120-F 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.
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3% of Schedules UTP were attached to Forms 1120-F, 1120-L, and 1120-PC.
In 2006, 14,897 active foreign corporations filed Forms 1120-F.
The IRS's Large and Mid-Size Business (LMSB) and Small Business/Self-Employed (SBSE) divisions have begun auditing approximately 160 taxpayers that filed protective Forms 1120-F, to determine whether those taxpayers are engaged in a U.