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Enclosure Sequence No. 112007 and 1120S05 FORM MISSOURI DEPARTMENT OF REVENUE MO7004 APPLICATION FOR EXTENSION OF TIME TO FILE (REV. 112011) NOTE: IF YOU HAVE AN APPROVED FEDERAL EXTENSION, YOU MAY

How to fill out 1120-07 and 1120s-05

How to fill out 1120-07 and 1120s-05

1. To fill out form 1120-07, follow these steps:
2. Begin by providing your company's information, including the name, address, and employer identification number (EIN).
3. Fill in the appropriate tax year and select the appropriate box to indicate the type of return you are filing.
4. Report your company's income, deductions, and credits in the appropriate sections. Be sure to review the instructions for each line item.
5. Complete the Schedule C, if applicable, to report any net profit or loss from a sole proprietorship.
6. Calculate your taxable income and determine the amount of tax owed or refund due.
7. Complete the payment voucher, if making a payment with your return.
8. Sign and date the form and mail it to the appropriate IRS address.
9. To fill out form 1120s-05, follow these steps:
10. Begin by providing your company's information, including the name, address, and employer identification number (EIN).
11. Fill in the appropriate tax year and select the box to indicate the type of return you are filing as an S corporation.
12. Report the number of shareholders and their information in the appropriate sections.
13. Complete Schedule K-1 for each shareholder, reporting their share of income, deductions, and credits.
14. Calculate the corporation's taxable income and determine the amount of tax owed or refund due.
15. Complete the payment voucher, if making a payment with your return.
16. Sign and date the form and mail it to the appropriate IRS address.

Who needs 1120-07 and 1120s-05?

1. Form 1120-07 is needed by corporations that need to file a regular corporate tax return.
2. Form 1120s-05 is needed by S corporations that elect to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes.

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What is 1120-07 and 1120s-05?

1120-07 and 1120s-05 are tax forms used by corporations to report their income, deductions, and tax liabilities to the IRS.

Who is required to file 1120-07 and 1120s-05?

Corporations are required to file 1120-07, while S Corporations are required to file 1120s-05.

How to fill out 1120-07 and 1120s-05?

To fill out 1120-07 and 1120s-05, corporations need to provide detailed information about their income, expenses, deductions, and credits.

What is the purpose of 1120-07 and 1120s-05?

The purpose of 1120-07 and 1120s-05 is to calculate the tax liability of corporations and S Corporations based on their financial activities.

What information must be reported on 1120-07 and 1120s-05?

On 1120-07 and 1120s-05, corporations must report their income, expenses, deductions, credits, and any other financial information relevant to their tax liability.