Small Business/Self-Employed
Small Business/Self-Employed Topics
IRS Resources
S Corporations |
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An eligible domestic corporation can avoid double taxation (once to the shareholders and again to the corporation) by electing to be treated as an S corporation. Generally, an S corporation is exempt from federal income tax other than tax on certain capital gains and passive income. On their tax returns, the S corporation's shareholders include their share of the corporation's separately stated items of income, deduction, loss, and credit, and their share of nonseparately stated income or loss.
If you are an S corporation use the information in the charts below to help you determine some of the forms that you may be required to file.
Chart 1 - S Corporation
If you are an S corporation then you may be liable for... |
Use Form... |
Income Tax |
1120S (PDF) (S corporation)
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Estimated tax |
1120-W (PDF) (corporation only) and 8109 |
Employment taxes:
- Social security and Medicare taxes and income tax withholding
- Federal unemployment (FUTA) tax
- Depositing employment taxes
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941 (PDF) ( 943 (PDF) for farm employees)
940 (PDF)
8109
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Excise Taxes |
Refer to the Excise Tax web page |
Chart 2 - S Corporation Shareholders
If you are an S corporation
shareholder then you may be liable for... |
Use Form... |
Income Tax |
1040 and Schedule E (PDF) |
Estimated tax |
1040-ES (PDF) |
References/Related Topics
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