Form 1120-S

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Form 1120-S

A tax return for the income of an S-corporation. A corporation files Form 1120-S to report its revenue, expenses, and profits or losses. It also uses Form 1120-S 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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9-percent increase in the number of Forms 1120S filed by S corporations that elected to be taxed through their shareholders.
See how to prepare Forms 1120S in a way that lessens the likelihood of an IRS examination.
Forms 1120S and 2553 must be filed no later than six months after the original due date (excluding extensions) of the S corporation's first return.
11) The tabulations for corporate returns in this article do not include the credits reported on Forms 1120S for small business corporations since the credits are passed to their shareholders and reported on individual returns.
Figure B provides a plot of the four measures of income over the 2004-2008 period for returns other than Forms 1120S, 1120-REIT, and 1120-RIC that included a Schedule M-3.
Finally, the IRS also seems ready to expand the application of Schedule M-3 to other major tax forms, such as Forms 1120S, U.
This data release provides detailed information about the magnitude of these accounting differences for all active corporations for Tax Years 1995 to 2001 (excluding pass-through entities filing Forms 1120S, 1120-REIT, and 1120-RIC).
Figure B provides annual totals for each line item in any Schedule M-1 for all active corporation returns (other than Forms 1120S, 1120-REIT, and 1120-RIC) and for the subset of returns with net income, as well as additional information on total assets, net operating loss deductions, special deductions, and income tax before and after credits.
Additionally, X filed Forms 1120S from inception to the present time.
These data, for active corporations other than those filing Forms 1120S, 1120-REIT, and 1120-RIC, supplement annual return data published in the Statistics of Income Bulletin and the Source Book of Statistics of Income--Corporation Income Tax Returns.
The IRS required amended Forms 1120S reporting the passive income tax for the three years that resulted in the event that was waived.