Form 1120: Where to File and How to Submit It

Form 1120, the U.S. Corporation Income Tax Return, is a document corporations use to report their income, gains, losses, deductions, and credits to the IRS. Filing this form correctly ensures compliance with federal tax obligations and can significantly affect a corporation’s financial standing.

Methods for Submitting the Form

Corporations can submit Form 1120 electronically or by paper, depending on factors like size and tax complexity. Electronic filing (e-filing) is increasingly favored for its efficiency and accuracy. The IRS’s Modernized e-File (MeF) system streamlines the process with faster processing times, reduced errors, and quicker refunds. This option is particularly useful for large corporations with complex returns.

For corporations preferring traditional methods, paper filing remains available. While it takes longer for the IRS to process paper submissions, some corporations use this method due to familiarity or specific requirements. The IRS assigns specific addresses for paper filings based on a corporation’s location and whether a payment is included. Using the correct address is key to avoiding delays.

Paper Filing Addresses

Submitting Form 1120 by paper requires using the correct IRS address to ensure timely processing. These addresses depend on the corporation’s principal business location and whether a payment accompanies the return. For instance, corporations in New York or New Jersey without a payment should send their returns to the Department of the Treasury, Internal Revenue Service Center in Ogden, UT. If a payment is included, the address changes to the Internal Revenue Service, P.O. Box 409101, Ogden, UT 84409. It is advisable to verify addresses before submission, as they may be updated periodically. Using certified mail with a return receipt ensures confirmation that the IRS has received the submission.

Electronic Filing Options

E-filing offers corporations a faster, more accurate submission method. The IRS’s MeF system reduces manual errors and provides immediate receipt confirmation. This system uses encryption protocols to safeguard sensitive financial data during transmission. Corporations should ensure their tax preparation software is compatible with the MeF system. Many commercial software providers integrate e-filing capabilities, simplifying the process and meeting IRS requirements.

Documents to Accompany the Submission

Corporations must include all required documentation when submitting Form 1120 to ensure a complete financial overview. This includes schedules detailing specific line items, such as Schedule C for dividends and Schedule J for tax computation and payments. Corporations must also reconcile book income to taxable income using Schedule M-1 or M-3, depending on their size. Additional forms, such as Form 1118 for claiming foreign tax credits, should be attached if applicable. Proper documentation minimizes the risk of IRS inquiries or audits.

Confirmation of Filing

After submitting Form 1120, it is essential to confirm that the IRS has received and processed the filing. For electronic submissions, the IRS provides immediate acknowledgment through the MeF system, including a unique submission ID. Once accepted, the IRS issues a notification confirming processing. Corporations should retain these confirmations for their records. Paper filers are encouraged to use certified mail or an approved delivery service to obtain a receipt that includes a tracking number, ensuring the return’s arrival at the IRS processing center. Keeping a copy of the filed Form 1120 along with proof of mailing is a best practice for all filings.