Corporate Tax Return (Form 1120)

A Corporate Tax Return (Form 1120) is a document that corporations in the U.S. file annually to report their income, expenses, and profits or losses. It calculates how much federal tax the corporation owes based on its financial activity. The form includes details about revenue, deductions, and credits to ensure accurate tax payment. Filing this return is a legal requirement for corporations, providing transparency to the IRS about their financial operations and ensuring compliance with tax laws.