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Information about Form 1120-S, U.S. Income Tax Return for an S Corporation, including recent updates, related forms, and instructions on how to file. Form 1120-S is used by corporations that elect to be S corporations to report income, deductions, gains, losses, etc.

FS-2024-12, April 2024 ¡ª The Internal Revenue Service reminds taxpayers they must answer the digital asset question and report all digital asset related income when they file their 2023 federal income tax return. Taxpayers should also keep these reporting guidelines in mind for 2024.

November 14, 2023 ¡ª An Agoura Hills real estate developer was sentenced to 41 months in federal prison for failing to disclose on a bankruptcy petition that he had earned nearly $2.3 million in income and for failing to report almost $6.9 million in income on his tax returns.

Dec. 16, 2024 ¡ª Sedita Charles Cayson of Panacea, Florida, was found guilty by a federal judge of five counts of willfully failing to file his income tax returns during a five-year period, spanning tax years 2017-2021. The guilty verdict returned at the conclusion of a day-and-a-half bench trial, was announced by Jason R. Coody, United States Attorney for the Northern District of Florida.

Aug. 2, 2024 ¡ª The owner of firearms business in Great Falls was charged with filing false income tax returns after an undercover investigation determined the owner did not report 20 percent, or approximately $1.4 million, of his gross receipts, resulting in a tax loss of almost $500,000, U.S. Attorney Jesse Laslovich said today.

2005 Metadata for U.S. Possessions Corporation Returns

October 13, 2022 ¡ª The president and a top officer of a real estate investment company were charged for their roles in a scheme to defraud more than 2,000 investors in a $650 million Ponzi scheme, and with conspiring to evade $26 million in tax liabilities, U.S. Attorney Philip R. Sellinger announced today.

Information about Form 706-GS(T), Generation Skipping Transfer Tax Return for Terminations, including recent updates, related forms and instructions on how to file. Trustees use this form to figure and report the tax due from certain trust terminations that are subject to the generation-skipping transfer (GST) tax.

S Corporation Table 5

August 21, 2023 ¡ª A Michigan man was sentenced today to 18 months in prison for willfully filing five false tax returns for himself and one of his businesses.