Form 1120-SBusiness Returns
U.S. Income Tax Return for an S Corporation
Information return for S-Corps. Reports income, deductions, credits. S-Corp pays no federal income tax; items flow through to shareholders via Schedule K-1.
Who Files This Form
S-Corporations (LLCs or C-Corps that elected S-Corp status via Form 2553)
Due Date
March 15 (or next business day)
Important Notes
Owner-employees must take a 'reasonable salary' as W-2 wages. IRS audits S-Corps that try to avoid payroll taxes by paying unreasonably low salaries.
Related Forms
Official IRS Source
Always download the current version and instructions from the IRS website before filing.
Educational Reference Only: This is general information about Form 1120-S, not tax advice. Form instructions change annually. Always download the current version from irs.gov and read the official instructions. Consult a qualified tax professional for your specific situation. Read full disclaimer →