Is your corporate tax return ready to file? The due date for corporate tax returns with December 31 year end dates is usually March 15, but because the 15th is on a Sunday, these returns are due on Monday, the 16th.
How Corporations and S-Corporations File Income Taxes
For corporations, use Form 1120 to file your corporate tax return. For s-corporations, use Form 1120S and provide shareholders with a K-1 showing their individual share of corporate profits and losses.
Check Your Return Before Filing
Use my tax return checklist to make sure you are filing the correct return and that everything correct, so you don't get your return back for errors.
Take All Possible Deductions
Use my list of Tax Deductions From A to Z to check off possible deductions, and don't forget the Stimulus Act bonus depreciation and Section 179 deductions you might be entitled to.
Filing an Extension
If you won't be able to get everything ready to file by Monday, you will need to file a request for an automatic extension, using Form 7004 for corporate and s-corporation returns. Don't forget to calculate and pay any estimated tax due, along with your extension.