Form 1120 is the IRS tax return C corporations use to report income, deductions, and federal corporate tax owed each year.
This guide covers who must file, when it’s due, how to complete it step-by-step, and common mistakes to avoid.
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Form 1120 is the IRS tax return C corporations use to report their income, deductions, and federal corporate tax owed each year. It applies to C corporations of all sizes, including startups, small businesses, and large corporations that haven’t elected S corporation status.
The form summarizes the company’s financial activity, revenue, operating expenses, deductions, and tax credits, to calculate the amount of federal corporate income tax due. If your business is structured as a C corporation, you’re generally required to file Form 1120 annually, even if the company had no income or business activity that year.
