Schedule C of Form 1120 – Dividends, Inclusions, and Special Deductions
The Form 1120 corporate income tax return includes a Schedule C which reports dividends and special deductions available to the corporation.
Schedule G of Form 1120 – Information on Persons Owning Voting Stock
The Form 1120 corporate income tax return may require a Schedule G inclusion for shareholders that own a large portion of the corporation's shares.
Schedule N on Form 1120 – Disclosure of Foreign Operations of US Corporations
The Form 1120 corporate income tax return may require a Schedule N if the corporation has any non-U.S. operations.
US Taxation of Foreign vs Domestic Corporations
U.S. federal tax rules apply differently between U.S. and foreign corporations. This article summarizes those key differences and how each is taxed.
Differences Between “C” Corporations and “S” Corporations
For U.S. federal tax purposes, an S corporation and C corporation have different filing obligations and tax treatments. This article examines the key differences between an S corporation and C corporation.
How to Record Deferred Tax Assets and Deferred Tax Liabilities – Federal Tax Provisions
When a company prepares its financial statements, it may be required to record deferred tax assets (DTA) and deferred tax liabilities (DTL). These items reflect the temporary differences between book income and taxable income.
Nondividend Distributions on IRS Form 5452
Nondividend distributions from a corporation are generally not subject to tax because they are not distributions form a corporation's earnings and profits (E&P). The nondividend distributions must be separately disclosed on Form 5452.
IRS Form 1128 Change Tax Year for a Corporation
The default tax year for a corporation is the calendar year. If a corporation wants to change from its initial tax year, it can file IRS Form 1128.
IRS Form 1122 Election for Consolidated Tax Return
The IRS Form 1122 is an election filed by a subsidiary corporation to have its activities included as part of a consolidated tax return with the parent corporation. This article and video cover the Form 1122.
How to File IRS Form 966 for a Corporate Dissolution or Liquidation
When a corporation decides to cease operations and liquidate, it must notify the IRS of its intention. The IRS Form 966 can be filed with the IRS.