which passes through to the shareholders for reporting on their individual tax returns. On Form 1120-S, the starting point is Line 21 of page 1, which is labeled “Ordinary business income (loss).” ...

A record-breaking tax collection year in 2024 has prompted stricter oversight and enforcement measures in 2025, as ...

LegalZoom explains why owners should still file a federal tax return even if their LLC did not do any business in the ...

Filing required returns on time can help your LLC avoid fines and penalties. C corporations must file Form 1120, U.S. Corporation Income Tax Return annually. Corporations can determine their tax ...

The VITA program, which the IRS administers, began after the Tax Reform Act of 1969 and provides free tax filing assistance ...

If phantom income is not properly analyzed by counsel and the court in a matrimonial case, the result perforce may be ...