The S-Corp Tax Forms

Being the owner of an S-Corporation comes with its own set of responsibilities. One of these responsibilities will be filing annual forms on behalf of the company. These various forms will provide information about the corporation, its employees, and its shareholders. Some of the basic forms that all S-Corporations need to file include the W-2, 1099-NEC, 1120-S, K-1, and the annual report, in addition to the 1040 personal tax return.

• 1120s - The 1120s is the S-Corp Business Tax Return

• 1040 - The 1040 is the Personal Income Tax Return. As an S-corp owner, you will need to file both your Business and Personal tax return

• 1099 - A form filed with the IRS and sent to the recipient of payment from someone other than an employer (commonly provided to the self-employed such as contractors, freelancers, and independent workers)

• W-9 - An IRS form that collects information from a business or self-employed person to issue payment and provide a 1099 at year-end

• W-2 - W2 form shows the annual income you've earned as an employee, benefits provided, and the amount of taxes withheld from your paycheck.

• K-1 -Schedule K-1 reports the individual share of the company’s income, earnings, losses, deductions, and credits. A Schedule K-1 will also note the shareholder’s number of shares owned and any loan balance at the beginning and end of the year.

  For more information about the S-corp tax forms read our blog