S-Corporations Tax Returns
                     S-Corporations Tax 
Returns
S-Corporations Tax Returns
 S corporations have to file an annual tax return report on Form 1120-S of the Internal Revenue 
Service. The purpose is to provide the income statement of the firm as well as losses, profits, 
credits and dividends in the current fiscal year like a corporation.
 The information includes a number of things such as information about the corporation, 
shareholders and foreign tax credit limitation. In it the information about the corporation includes:
 Corporation’s employer identification number.
 Corporation’s name, city, zip code and state.
 Internal Revenue Service Center where the corporation filed return.
 Corporation’s total number of shares.
S-Corporations Tax Returns
 The information about the shareholder includes the following necessary items:
 Current year Allocation Percentage.
 Shareholder’s name, city, state and zip code.
 Capital Gain or loss.
 Dividends.
 Business an interest income.
 Gross Profit
S-Corporations Tax Returns
 Then the information about the licenses, interest about the corporations should be 
mentioned. Bad debts, maintenance, salaries and wages these are the items which we 
have to deduct in case of tax filings. This also include the employee benefits and other 
things such as pensions, profit sharing. S-Corp doesn’t pay taxes. Owners and 
shareholders (100 or fewer) report the company revenue as their own personal income. S-
Corps have the benefit of corporations and enjoy the tax-exempt status of partnership. 
S-Corporations Tax Returns
 Making of Election
For details about how to make an election then you should consult Form 2553, Election by a Small Business corporations, and the 
instructions for Form 2553.
 When to File
Generally, we have to file the tax on 15th day of the 3rd month after the end of the fiscal year. If the due date is on some holiday, then the 
form can be filled the day after that holiday.
 Electronic Filing
The owners of the firm can also submit the forms online which made it easier to submit the Form 1120-S, schedules, statements and 
attachments. 
 Where to File
There are different addresses for where you can file the tax form depending on the state in which you live. Like for instance, districts of 
Georgia, Maryland, Indiana, Michigan, New York etc. we can use the address Department of the Treasury Internal Revenue Service Center 
Kansas City, MO 64999-0013.
S-Corporations Tax Returns
 Who Must Sign?
 The tax return should be signed by president, vice-president, treasurer, chief accounting officer or any other 
corporate officer.
 Accounting Period
 A corporation should keep the record of its income according to the calendar year. It must file an election with the 
IRS to use a different fiscal year. 
 Conclusion
 S-corporations need to return tax filings by the end of the accounting year so that there may not arise any sort of 
tax issue. Taxation is an important step in running business so the significance of tax returns cannot be ignored in 
any way.
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