The S corporation has a responsibility to file an informational income tax return each year as well as a range of other IRS forms.
Rizzo, John
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An S corporation’s shareholders, not the corporation, pay federal income tax on the business profits. An S corporation’s income and deductions “pass-through” to each shareholder to be reported on their personal income tax returns in proportion to their respective shares of ownership. The S...
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This is an area of tax law that requires up-to-date knowledge to ensure accurate preparation of your return. Tax filing documents needed to prepare a partnership tax return include: profit & loss statement (income statement), balance sheet, asset records, business use of home documentation and...