Corporate Returns (1120s)
Domestic corporations and business are federally required to file corporate tax returns yearly.At Ashcraft Business Advisors we take special care to ensure financial peace of mind to our clients constantly, and especially amidst the stresses and headaches of tax season. Our clients can take comfort in knowing that our number one concern is their financial well being. When filing corporate tax returns for our clients, we do whatever we can to ensure that as much money as possible stays in the register. We frequently check in with our clients and keep them informed on the status of their corporate tax return. We value our clients and recognize the importance of keeping them well informed of their current financial standing.
Other Services
Tangible Property Returns
Tangible Property Returns
Tangible Property Returns
The state of Florida requires all businesses to file a tangible property tax return. We file tangible property tax returns yearly for our clients and can do the same for you.
Audit Assistance
Tangible Property Returns
Tangible Property Returns
We specialize in offering audit assistance to ensure that your audit runs as smoothly as possible.
Financial Statements
Tangible Property Returns
Financial Statements
We specialize in creating financial statements for our clients business or personal needs.
Corporate Return FAQs
When are corporate tax returns due?
Corporate tax returns are due by the fifteenth day of the third month after the end of its tax year. For calendar year corporations, the due date is March 15. A corporation that has dissolved typically must file their corporate tax return by the fifteenth day of the third month after the date it dissolved.
Can I extend my return?
Corporate tax returns can generally be extended by up to six months by filing Form 7004.
Who has to file a corporate tax return?
All domestic businesses and corporations are required by law to file a corporate tax return.
What type of corporate tax return should I file?
The type of return a business files is dependent upon the type of business.
Farming (other than section 1381 cooperatives)
Corporations who engage in farming should use Form 1120 or, if they qualify, Form 1120-A.
Foreign Sales Corporation
Corporations who elected to be treated as a FSC must file form 1120-FSC.Homeowners AssociationsHomeowners associations may take advantage of certain tax benefits by filing the Form 1120-H US Income Tax Return For Homeowners Associations as its income tax return.Life Insurance CompanyAll domestic life insurance companies and foreign corporations who would qualify as a life insurance company if it were a U.S. corporation must file Form 1120-L.Certain Political OrganizationsPolitical organizations, whether or not it tax-exempt, must file Form 1120-POL.Property and Casualty Insurance CompanyDomestic non-life insurance companies and foreign corporations who would qualify as a non-life insurance company if it were a US corporation, must file Form 1120-PC.Real Estate Investment Trusts (REIT)
A corporation, trust, or association that meets certain conditions must file Form 1120-REIT if it decides to be treated as REIT for the tax year or has made that decision for a prior tax year and the election has not been terminated or revoked.
Regulated Investment Companies (RIC)
A domestic corporation that elects to be treated as a RIC for the tax year or has made an election for a prior tax year, and meets certain requirements must file Form 1120-RIC.
Settlement Funds (Under Section 468B)
All section 468B designated and qualified settlement funds must file an annual tax return. See Form 1120-SF and the Instructions for Form 1120-SF for more information.
Short-Form
A corporation can use Form 1120-A if the corporation meets all of the requirements that are needed to do so.
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