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How to File 1120S Online

January 22, 2019
Small Business

Small business owners have a lot on their plate. When tax season arrives, it is easy to get lost in the mountain of paperwork involved. One of the more complicated tax documents is Form 1120S.

What Is Form 1120S?

S corporations use Form 1120S in filing their federal income tax return. Form 1120S is often confused with Form 1120. However, the Form 1120 is used for C corporations. The federal government requires every S corporation to file Form 1120S. You can file these online or through standard outlets.

Necessary Information

Before you can begin to file your 1120S online, you need to have the necessary information. Compile a list of your products or services, your business activity code, and your Employer Identification Number. The 1120S will ask for your date of incorporation and the date you elected S-corp status. The date of election is either January 1 or the first day of your fiscal year. You must also report any payments to independent contractors of at least $600, so be sure to collect that information. Halon Tax can help you create your profit and loss statement, as you will need this to file 1120S online.

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Filing Form 1120S Online

There are many ways to file 1120S online, including through a professional accountant. Halon Tax is one accounting firm with experience navigating these complicated documents. Depending on your situation, there may be several extra forms to prepare in addition to your tax return. These extra forms are called Schedules and include information such as interest income or charitable contributions.

Halon Tax software is the easiest way to file. Unlike other tax software, Halon Tax has a professional accountant look over the tax information submitted before sending it to the IRS. This process helps small business owners and shareholders file their tax returns more accurately. As a result of working with Halon Tax, your taxes will be double-checked and guaranteed. All information given to Halon Tax is confidential and secure. Our team of CPAs has an average of ten years of tax preparation experience. Filing taxes is a daunting task, but it doesn’t have to be. From 1099S to 1120S, Halon Tax has everything you need to file your taxes correctly.

The Deadline to File

The final date to file your Form 1120S is March 15, 2019. Should you need it, the federal government allows extensions for these forms. You can apply for an extension through the IRS website.

When tax season rolls around, make sure that you have a team ready to help. Halon Tax has been in business since 2015 and is the perfect tool for every small business owner. Explore our website to learn more about our process. Halon Tax is here for you, so join for free today.

Amy Schwende

Amy is a tax attorney with 10 years of public accounting experience. She has served a wide range of clients throughout her career with a focus on S corporations, partnerships, and their owners. In her free time she enjoys biking, reading, and spending time with her family.

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