Corporations

February 2026 Form Review

IRS Form 1120 (U.S. Corporation Income Tax Return): This is your primary annual return. It reports all corporate income, gains, losses, deductions, and credits. Due Date: The 15th day of the 4th month following the end of your fiscal year (April 15th for calendar-year corporations).

IRS Form 1120-W (Estimated Tax for Corporations): If your C-corp expects its annual income tax liability to be $500 or more, you must make quarterly estimated payments. Due Date: Generally the 15th day of the 4th, 6th, 9th, and 12th months of the tax year.

Payroll and Employment Tax Filings

If your Corporation has payroll, it is legally required to withhold, report, and remit employment taxes to the federal government.

IRS Form 941 (Employer's Quarterly Federal Tax Return): Filed four times a year to report employee wages, tips, withheld federal income taxes, and both the employer/employee shares of Social Security and Medicare taxes. Due Date: The last day of the month following the end of each quarter (April 30, July 31, October 31, and January 31).

IRS Form 940 (Employer's Annual Federal Unemployment Tax Return): Used to report and pay annual Federal Unemployment (FUTA) tax, which relies entirely on employer funds rather than employee withholdings. Due Date: January 31st of the following calendar year.

IRS Form W-2 & Form W-3: You must issue a Form W-2 to every employee documenting their annual compensation and withholdings. Form W-3 is the summary transmittal form used to send copies of all W-2s to the Social Security Administration (SSA). Due Date: January 31st of the following year.

Shareholder & Contractor Information Returns

Shareholder stock and debt basis

AAA and built in gains

Reasonable compensation compliance

199A Qualified Business Income deduction

IRS Form 1099-DIV: If your C-corp pays out corporate dividends or distributions of $10 or more to its shareholders, you must issue this form to the recipient and file it with the IRS.

IRS Form 1099-NEC: If the corporation pays independent contractors, lawyers, or freelancers $600 or more during the year outside of standard payroll, this form is required by January 31st.

Double Taxation: Remember that corporate profits are taxed at the entity level via Form 1120. If those profits are paid out to owners as dividends, they are taxed again on the owners' personal tax returns via Form 1099-DIV.

State-Level Requirements: Most states levy corporate franchise taxes, state corporate income taxes, and state unemployment insurance (SUI). These require separate filings handled through your state's Department of Revenue