Filing Form 1120 for C-Corporations
01.Corporate Income Tax Return
A C-Corporation must file Form 1120 annually to report its financial activity and pay corporate income taxes.
02.Corporate Net Operating Losses (NOL)
If a corporation suffers a loss, it can carry forward those net operating losses (NOL) to offset future taxable income, lowering the company's tax burden in profitable years.
03.Filing Deadline
Form 1120 is generally due by April 15th for calendar-year corporations, with the option to file a 6-month extension (Form 7004) to October 15th.