Form 1120-S is used by businesses elected as an S-Corporation (by filing Form 2553) to report their financial activities such as income, gains, losses, deductions, credits, tax and payments, international transactions, and more for the tax year. Filers should provide…
Form 1040 is an IRS tax form used by the U.S. Individuals to report their taxable income for the year. The form helps the IRS determine whether the tax filer will receive a tax refund or additional taxes are owed….
Even though organizations with 501(c)(3) status are exempt from paying tax, they must meet the IRS filing requirements through IRS Form 990. Form 990 is used by Nonprofits and Tax-Exempt Organizations to report their income, expenses, activities, governance, and more….
