Form preview

IRS 1120S 2020 free printable template

Get Form
Form1120SU. S. Income Tax Return for an S Corporation OMB No. 15450123Do not file this form unless the corporation has filed or is attaching Form 2553 to elect to be an S corporation. Go to www.irs.gov/Form1120S
pdfFiller is not affiliated with IRS
Screenshot
Screenshot
Screenshot

Get, Create, Make, and Sign IRS 1120S

Edit your IRS 1120S online
Type text, complete fillable fields, insert images, highlight or blackout data for discretion, add comments, and more.
Screenshot
Add your legally-binding signature
Draw or type your signature, upload a signature image, or capture it with your digital camera.
Screenshot
Share your form instantly
Email, fax, or share your IRS 1120S via URL. You can also download, print, or export forms to your preferred cloud storage service.
Screenshot
Instructions and Help about IRS 1120S
How to edit IRS 1120S
How to fill out IRS 1120S

Instructions and Help about IRS 1120S

How to edit IRS 1120S

To edit IRS 1120S, download the tax form in PDF format and open it using a compatible PDF editor. If you utilize pdfFiller, you can easily modify text fields, add signatures, or annotate your document. After making the necessary changes, save the edited document for submission.

How to fill out IRS 1120S

To fill out IRS 1120S, begin by entering basic information about the S corporation, including the name, address, and employer identification number (EIN). Follow the prompts to report income, deductions, and credits. Ensure that each section is completed according to your financial records before filing.

About IRS 1120S 2020 previous version

What is IRS 1120S?

IRS 1120S is the U.S. tax form used by S corporations to report income, deductions, gains, losses, etc., for the tax year. It is an essential document for corporations that have elected S corporation status under the Internal Revenue Code.

Who needs the form?

IRS 1120S must be filed by corporations that have elected to be taxed as S corporations. This means that the business has met specific IRS requirements for S status, mainly having no more than 100 shareholders and being a domestic corporation.

Components of the form

IRS 1120S includes several key components: basic corporate information, income and deductions schedules, shareholder information, and tax credits. Each section requires precise data entry to ensure compliance with IRS regulations.

What information do you need when you file the form?

To complete IRS 1120S, you need the corporation's EIN, gross receipts, cost of goods sold, total deductions, and other financial data. Prepare documentation supporting your entries for accuracy and ease during the filing process.

Where do I send the form?

The filing address for IRS 1120S depends on the corporation's principal place of business and whether you're sending it with a payment. Generally, forms are mailed to the appropriate IRS service center for processing. Consult the IRS website for the correct address based on your situation.

What is the purpose of this form?

The primary purpose of IRS 1120S is to allow S corporations to report their annual income and determine their corporate tax responsibilities. The information stated on this form is vital for calculating the income that passes through to shareholders, who report it on their personal tax returns.

When am I exempt from filling out this form?

Exemptions from filing IRS 1120S apply to S corporations that meet the criteria for dissolution or that have no business activity during the tax year. Additionally, some states have their regulations regarding state tax forms that may exclude certain S corporations from filing.

What are the penalties for not issuing the form?

Failure to file IRS 1120S can result in significant penalties imposed by the IRS. A late filing penalty can equal $210 for each month the return is late, limited to 12 months. Additionally, shareholders may face tax implications for unreported income.

Is the form accompanied by other forms?

IRS 1120S may be accompanied by several additional schedules and forms, including Schedule K-1, which reports each shareholder's share of income, deductions, and credits. It’s crucial to ensure that all relevant documents are submitted together for compliance.

FAQ about IRS 1120S

To correct mistakes on your IRS 1120S after filing, you need to submit an amended return using Form 1120S-X. This form allows you to correct any errors such as misreported income or deductions. Ensure that you follow the guidelines provided by the IRS to avoid further issues and keep a copy for your records.

If you receive a notice from the IRS regarding your IRS 1120S, read the notice carefully to understand the issue. It may require a response or additional documentation. Prepare your supporting materials and contact the IRS or a tax professional if you need assistance with your response.

You can verify the status of your filed IRS 1120S by checking the IRS 'Where’s My Refund?' tool if you expect a refund, or by contacting the IRS directly if you need information on the processing of your return. Familiarize yourself with common e-file rejection codes to troubleshoot any potential issues.

Common errors when filing the IRS 1120S include incorrect EIN, mismatched names and addresses, and math errors. Thoroughly review your return before submission and consider e-filing, which often helps catch mistakes automatically. Ensuring accuracy can prevent delays in processing and potential penalties.

Yes, there are specific technical requirements for e-filing the IRS 1120S. Ensure that you use compatible software that meets IRS standards, and check your internet connection and browser settings. Being aware of these requirements before you start will make the e-filing process smoother.

See what our users say

Read user feedback and try pdfFiller to explore all its benefits for yourself
Work and Study Budy Overall I love the app and all the features it offer! The benefits totally outweigh the cost. Amazing app! What I like most about the feature is I can use it both for work to fill out pdf files and for my personal studies where I can write notes, comment, add highlights and more to the file. What I least like about this is it can be a bit pricey to maintain especially if I were only a student. But good thing I am also using it for work so I can really maximize its use.
Llana Melissa S.
A very useful tool for PDFs Very good experience. In my beginnings I had a little trouble but everything came very quickly. I mainly use it for my professional paperwork with the administrations when I need to edit some files and sometimes I use it to sign. Not only do we save paper but also if we don't have a printer or are on a mobile or the tablet one can use this application. It's great ! Multiple features, easy and practice of use, especially for the modification of documents. One thing to take into account is that pdfFiller is not easy for one who doesn't know more about this kind of software. Slight bugs sometimes but otherwise nothing to report on the software.
Konan Alexis G.
See what our users say
Trust Seal
Trust Seal
Trust Seal
Trust Seal
Trust Seal
Trust Seal
Trust Seal
Trust Seal
Rate free form
4.4
satisfied
166 votes

IRS 1120S Form Versions

IRS 1120S 2025
IRS 1120S 2024
IRS 1120S 2023

Related Content

About Form 1120-S, U.S. Income Tax Return for an S ... - IRS
2022 Instructions for Form 1120-S - IRS
SC 1120S - SC Department of Revenue

Related Forms

Form preview
2025 Form 1120-S
Form 1120-S Department of the Treasury Internal Revenue Service U.S. Income Tax Return for an S Corporation OMB No. 1545-0123 Do not file this form unless
Fill Now
Form preview
1040 form 2021
Form1040 u.s. individual income tax return 2021filing statuscheck onlyone box.(99)department of the treasuryinternal revenue servicesinglemarried
Fill Now
Form preview
where can i file an 1120s tax return make
Form1120su. s. income tax return for an s corporation omb no. 15450123do not file this
Fill Now
Form preview
company tax return
1120u. s. corporation income tax returnerdepartment of the treasuryinternal revenue servicea check if:1a consolidated return(attach
Fill Now
Form preview
k 1 form
6711202020schedule k1(form 1120s)department of the treasuryinternal revenue service/beginning/part shareholders share of current year income,deductions,
Fill Now
Form preview
1040 form
Form1040 u.s. individual income tax return 2020filing statuscheck onlyone box.(99)department of the treasuryinternal revenue servicesinglemarried
Fill Now
Form preview
gate transit application employment
Human resources department 1011 andersen drive, san rafael, ca 94901 jobs golden gate.org golden gate
Fill Now
Form preview
Web 2.0 for Urban Designers and Planners - DSpace MIT - dspace mit
Web 2.0 for urban designers and planners by base wilson submitted to the department of
Fill Now
Form preview
bcbstn form
Mar 9, 2012 or if you are re-credentialing or re-contracting a provider entity, or
Fill Now
Form preview
standard affirmation disclosure form ohio 2012
Final (09/11) standard affirmation and disclosure form executive order 2011-12k governing the expenditure of public
Fill Now
Form preview
allina hospitals and clinics form
All ina hospitals & clinics authorization to release and disclose patient information name: date of
Fill Now

Related Catalogs

Use this catalog to find any type of IRS forms. We've gathered all of them under this section uncategorized to help you to find a proper form faster. Once you spot it on this list, have a look at the versions and schedules you might need as attachments. All returns are available for 2016 and for previous fiscal years.
pdfFiller Tax Forms Catalog
Use this catalog to find any type of IRS forms. We've gathered all of them under this section uncategorized to help you to find a proper form faster. Once you spot it on this list, have a look at the versions and schedules you might need as attachments. All returns are available for 2016 and for previous fiscal years.
Go to catalog
Alumni Forms Catalog
Go to catalog
Logistics Forms Catalog
Go to catalog

Related Features

Put In Sign in the Prenuptial Agreement Template with ease
Put In Sign in the Insurance Quote with ease
Add Paragraph in the Inbound Marketing Proposal Template with ease
Add Paragraph in the HIPAA Release Form with ease
Edit Stamp in the Timeshare Agreement with ease
If you believe that this page should be taken down, please follow our DMCA take down process here .
This form may include fields for payment information. Data entered in these fields is not covered by PCI DSS compliance.