GlossaryUS
What is Form 1120?
U.S. Corporation Income Tax Return
Short answer
Form 1120 is the annual federal income tax return of US corporations. Every domestic corporation files it whether or not it has taxable income; foreign-owned single-member LLCs file Form 5472 attached to a pro forma Form 1120.
Explained
For a calendar-year company it is due by the 15th day of the 4th month after the end of the tax year; if that falls on a weekend or holiday, the next business day applies. For a fiscal year ending 30 June, the due date is the 15th day of the 3rd month.
An LLC files Form 1120 only if it has elected corporate classification on Form 8832; S corporations file Form 1120-S. An extension can be requested on Form 7004, but it does not extend the time to pay.
Good to know
- Tax must be paid by the original due date, not including extensions.
- A corporation that dissolves files its final return by the 15th day of the 4th month after dissolving.
This page is general information, not legal or tax advice. Rules change; check the official source for the latest position or talk to us.
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