IRS Form 1120

IRS Form 1120 is the official document that corporations use to report their income, expenses, deductions, and credits to the U.S. government for tax purposes. It helps determine how much tax the corporation owes or if it has a refund due. The form includes financial details about the company's revenue, costs, and profits, and must be filed annually by corporations that are taxable entities. Its accuracy ensures compliance with tax laws and proper calculation of the company's tax liability.