Small business tax help website
 

IRS Form 1120 A

When a corporation is small, it may be able to use the IRS form 1120 A rather than the full IRS form 1120. Below are criteria that a corporation must satisfy to be able to use the short IRS form 1120 A which is a lot easier to fill out than the full IRS form 1120. Most small businesses meet the criteria for filing the IRS form 1120 A so they don't have to mess with how to fill out the full IRS form 1120.

A corporation may file the IRS form 1120 A if it meets all of the following requirements.

  • Gross receipts or sales are under $500,000.

  • Total income (gross profit plus other income including gains on sales or property) is under $500,000.

  • Total assets are under $500,000

  • The corporation is not a member of a controlled group

  • The corporation does not file a consolidated tax return

  • The corporation does not have ownership in a foreign corporation.

  • The corporation does not have foreign shareholders who directly or indirectly own 25% or more of its stock.
 
Filing IRS form 1120S

If the small business is an S corporation then the small business must file the IRS form 1120S instead of Form 1120 or 1120A.

 
When is the IRS tax for 1120 A due?

The small business must file the IRS tax form 1120 A on or before the fifteenth day of the third month following the close of a corporation's tax year.

 

Corporation tax filing extension

The small business corporation can have an automatic tax filing extension for 6 months if the small business files the tax form 7004 by the due date of the tax return.