What Is IRS Form 1120?


Quick Answer

According to the IRS, all domestic corporations, with some exceptions, must file Form 1120, U.S. Corporation Income Tax Return. Corporations report their income, capital gains and losses, deductions and credits on Form 1120.

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Full Answer

Corporations, including those in bankruptcy, must file Form 1120 even if they have no taxable income, says the IRS. A corporation must file Form 1120 by the 15th day of the third month following the end of its tax year. A newly formed corporation must file a short-period return so that its tax year coincides with its fiscal year. Corporations are eligible for an automatic six-month extension to the due date by filing Form 7004.

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