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What is 1 s?

Form 1-S is a tax form used by S corporations to report income, deductions, and other important financial information to the IRS.

Who is required to file 1 s?

S corporations, which are corporations that have elected to be taxed under Subchapter S of the Internal Revenue Code, are required to file Form 1-S.

How to fill out 1 s?

To fill out Form 1-S, corporations must provide their financial information, including income, expenses, and shareholder information, and follow the IRS instructions provided for the form.

What is the purpose of 1 s?

The purpose of Form 1-S is to allow S corporations to report their earnings, losses, and other financial information to the IRS and to allocate income and deductions to shareholders.

What information must be reported on 1 s?

Form 1-S requires reporting of the corporation's income, deductions, credits, and shareholders’ distributions, as well as identifying information about the corporation and its shareholders.