How does the IRS define a corporation? What should tax professionals know about Form 1120? This course covers basic definitions and terms regarding corporations, the tax implications of corporate structures, and how to prepare Form 1120 and related forms.
Last Revision: January 2024
Prerequisites are not necessary to participate in this course and no advance preparation is needed.
Corporations pay income taxes as a business entity, unlike many other common business structures such as sole proprietorships, partnerships, limited liability companies (LLCs) and S corporations.
When tax preparers are familiar with Form 1120, U.S. Corporation Income Tax Return, they become a valuable resource for clients who seek to be compliant with federal tax law.
After completing this course, you will be able to:
Explain what is a corporation and how it differs from other business structures.
Prepare Form 1120 in compliance with IRS rules.
Identify other tax topics and forms that are closely tied to Form 1120.
* Individuals with other professional credentials should check with their state licensing board or accrediting organization to determine if this program meets their continuing education requirements.
