United States Company Tax Site: Filing Requirements Summary

Filing Requirements Summary A summary of the filing requirements for various types of business.
Electronic Tax Filing Most tax forms can be filed electronically, and some must be.

Filing Requirements Summary

IRS guidance for filing and payment of business income taxes is given in the following table.

If you are liable for:	Then use Form:	Due by:
Partnership taxes	1065	April 15 following the close of the partnership's tax year if its accounting period is the calendar year. Fiscal Year Partnership - 15th day of the 4th month following the close of its fiscal year. Provide each partner with Sch K-1 (Form 1065). See Partnerships
S-Corporation taxes	1120-S 1120-W (Estimated Taxes - Corporations Only)	15th day of the 3rd month following the date the corporation’s tax year ended as shown at the top of Form 1120S. Calendar year - March 15. If due date falls on a Saturday, Sunday, or legal holiday, file on the next business day. If the S corporation election was terminated during the tax year, file Form 1120S for the S corporation’s short year by the due date (including extensions) of the C corporation’s short year return. See S-Corporations
Corporate taxes	1120 or 1120-A (But see below for restrictions) 1120-W (Estimated Taxes - Corporations Only)	15th day of the 3rd month after the end of its tax year. New corporation filing a short-period return -15th day of the 3rd month after the short period ends. Corporation that has dissolved -15th day of the 3rd month after the date it dissolved. See Corporations
Limited Liability Company (LLC)	Only member of LLC is an individual - LLC income and expenses are reported on Form 1040, Schedule C, E, or F. If you prefer to file as a corporation, Form 8832 must be submitted. Only member of the LLC is a corporation, income and expenses are reported on the corporation’s return, usually Form 1120 or Form 1120S. Most LLCs with more than one member file a partnership return, Form 1065. If you would rather file as a corporation, Form 8832 must be submitted. No Form 8832 is needed if filing as a partnership.	See Publication 3402

An Employer Identification Number (EIN), also known as a federal tax identification number, is used to identify tax reports to the IRS.

Corporate income tax is payable by 3-monthly estimated instalments for all but the smallest tax-payers; see Form 1120-W.

Form 1120-A, US Corporation Short-Form Income Tax Return, was a simplified form that can be used instead of Form 1120 if the corporation met all of the following requirements:

Its gross receipts (line 1a on page 1) are under $500,000;
Its total income (line 11 on page 1) is under $500,000;
Its total assets (Form 1120, Schedule L, line 15) are under $500,000;
Its only dividend income is from domestic corporations and those dividends (a) qualify for the 70% dividends-received deduction and (b) are not from debt-financed securities;
It does not have any of the "write-in" additions to tax listed in the Instructions for Form 1120, Schedule J, line 3 or line 11;
It has no nonrefundable tax credits (other than the general business credit or the credit for prior year minimum tax);
It is not (a) a member of a controlled group, (b) a personal holding company, (c) filing a consolidated return, (d) filing its final return, (e) dissolving or liquidating, (f) electing to forego the carryback period of an NOL, or ( ) required to file one of the returns listed under Special Returns for Certain Organizations;
It does not have (a) any ownership in a foreign corporation or foreign partnership, (b) foreign shareholders that directly or indirectly own 25% or more of its stock, or (c) any ownership in, or transactions with, a foreign trust.

However, effective for tax years beginning after December 31, 2006, Form 1120-A, US Corporation Short-Form Income Tax Return, could no longer be filed.

For the 2007 tax year, all domestic corporations, unless required to file a special return, were obliged to file Form 1120, US Corporation Income Tax Return.

A corporation does not send tax payments directly to the IRS. Estimated tax payments, and any tax due on Forms 1120 or 1120-A, are paid either to an authorized financial institution or to a Federal Reserve Bank. The corporation should use a Federal Tax Deposit Coupon (Form 8109) when making such payments. Darken the box marked "1120," and write the employer ID#, Form 1120, and the tax period to which the deposit applies on the check or money order. Records of the deposits are sent to the IRS for crediting to the corporation’s account. The corporation may be penalized if this procedure is not followed.

Filing Requirements Summary A summary of the filing requirements for various types of business.

Electronic Tax Filing Most tax forms can be filed electronically, and some must be.