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What is the difference between Form 1120 and Form 1120-S?

US tax filing

Form 1120 is filed by C-Corps, which pay tax at the entity level. Form 1120-S is filed by S-Corps, which pass income through to shareholders on K-1s.

Which one you file follows your tax election rather than your legal entity type. A corporation that never elected S status files the standard 1120.

Inkle Tax prepares and files US federal and state returns for your company.

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