Form 1120S S-Corporation Tax Return Preparation

Expert preparation of your partnership's federal tax return with guaranteed accuracy, on-time filing, and maximum deductions.

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⏰ Form 1120S Deadline Alert

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Complete Form 1120S Preparation Service

Everything needed for accurate, compliant S-Corporation tax filing

Return Preparation

Comprehensive preparation of all required forms and schedules

  • Form 1120S main return
  • Schedule K income allocation
  • Schedule L balance sheet
  • Schedule M-2 retained earnings
  • Officer compensation analysis
K-1 Distribution

Accurate partner allocations and timely distribution

Compliance & Filing

Complete compliance with IRS requirements

  • E-filing with IRS
  • Extension filing if needed
  • State return coordination
  • Confirmation of acceptance
  • Copy for your records

Our Streamlined 1120S Preparation Process

From documents to filed return in 5 simple steps

Document Collection

We provide a customized checklist and secure portal for uploading your S-Corp's financial documents, payroll reports, and prior year return.

Return Preparation

Our CPAs prepare your Form 1120S, ensuring all deductions are maximized and reasonable compensation requirements are met.

Shareholder K-1 Generation

We prepare accurate K-1s for all shareholders, including stock basis calculations and distribution details.

Review & Approval

You review the complete return package. We explain any questions and make revisions as needed.

E-Filing & Distribution

We electronically file with the IRS and distribute K-1s to all shareholders before the deadline.

📋 Documents You'll Need for Your 1120S

  • Prior year Form 1120S and K-1s
  • Bank statements (all accounts)
  • Form 1099s received and issued
  • Loan documents and interest statements
  • Depreciation schedules
  • Financial statements (P&L, Balance Sheet)
  • Payroll reports and W-3/W-2s
  • Officer compensation records
  • Stock ownership records
  • Corporate minutes (if applicable)

Don't have everything? No problem! We'll help you identify what's needed.

Transparent S-Corporation Return Pricing

Clear, upfront pricing based on your S-Corp's complexity

S-Corporation Type Shareholders Complexity Base Price
Simple S-Corp 1-2 shareholders Single state, basic operations $1,200
Standard S-Corp 3-5 shareholders Moderate activity, K-1s included $1,800
Complex S-Corp 6+ shareholders Multi-state, special allocations $2,500+
Additional Shareholders Beyond base package Full K-1 preparation and distribution $75 per K-1
State Returns Per additional state Complete state filing $350
Amended Returns Prior year corrections Full amendment package $1,000+

* Prices may vary based on specific circumstances. Contact us for a personalized quote.

Common S-Corporation Tax Issues We Resolve

🚨 Reasonable Compensation

IRS closely scrutinizes S-Corp officer salaries. We ensure your compensation meets IRS safe harbor requirements to avoid reclassification of distributions as wages.

📊 Basis Tracking

Incorrect basis calculations can turn tax-free distributions into taxable gains. We maintain accurate basis records for all shareholders.

💰 QBI Deduction

Many S-Corps miss out on the 20% Qualified Business Income deduction. We ensure you maximize this valuable tax benefit.

📈 Accumulated Adjustments

Proper AAA tracking is essential for tax-free distributions. We maintain accurate records to prevent unexpected tax consequences.

🏢 State Compliance

Multi-state S-Corps face complex filing requirements. We ensure compliance across all jurisdictions where you operate.

⚖️ Election Compliance

Certain activities can inadvertently terminate S-Corp status. We monitor compliance to protect your election.

Ready to File Your Form 1120S?

Join many S-Corporations that trust SDO CPA for accurate, timely, and strategic tax return preparation.

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Frequently Asked Questions About Form 1120S

Common questions about S-Corp taxation and our services

When is Form 1120S due?

Form 1120S is due by March 15th for calendar year S-Corporations, or the 15th day of the third month after the fiscal year ends. You can file for a 6-month extension to September 15th, but this only extends the filing deadline, not the payment deadline.

What's the difference between Form 1120S and Form 1065?

Form 1120S is for S-Corporations while Form 1065 is for partnerships. S-Corps have shareholders and must pay reasonable salaries to owner-employees. Partnerships have partners and don't have the same salary requirements. Both are pass-through entities but have different tax rules and compliance requirements.

How much does it cost to file Form 1120S?

Our Form 1120S preparation starts at $1,200 for simple S-Corps and ranges up to $2,500+ for complex situations. The exact cost depends on the number of shareholders, states you operate in, and complexity of your business activities. We provide transparent, upfront pricing after reviewing your specific situation.

What happens if I file Form 1120S late?

The IRS charges $235 per shareholder per month (or partial month) for late filing, with no maximum limit. For example, a 5-shareholder S-Corp filing 3 months late faces $3,525 in penalties. Additionally, shareholders may face their own penalties if late K-1s delay their personal returns.

Do I need to pay myself a salary as an S-Corp owner?

Yes, if you perform services for your S-Corporation, the IRS requires you to pay yourself "reasonable compensation" through W-2 wages before taking distributions. This is one of the most scrutinized areas in S-Corp taxation. We help determine appropriate salary levels based on IRS guidelines and industry standards.