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S Corporation Tax Returns (Form 1120-S)
Form 1120-S, K-1s for every shareholder, reasonable-salary payroll and shareholder basis tracking, so the S corporation actually saves the tax it was elected to save.
What is included
- Federal Form 1120-S and Schedule K-1 for each shareholder
- State S corporation returns and pass-through entity tax elections
- Reasonable compensation and owner payroll set-up
- Shareholder basis and distribution tracking
- S election (Form 2553) and late-election relief
Deadline and penalties
Form 1120-S is due March 15 for calendar-year companies. Late filing carries a penalty for each shareholder for each month, so we start these returns early in the season.
Common questions
Can an LLC be an S corporation?
Yes. An LLC can elect to be taxed as an S corporation with Form 2553, generally within 2 months and 15 days of the start of the tax year.
Tell us your situation. We will tell you the fee.
A few short questions, a written quote within one business day, and a free 15-minute consultation if you would rather talk it through first.