| What are a Corporation's Filing Requirements?
IRS states that per Code Sec 6012(a), " a Corporation must file an income tax return even if it has no income, or if no tax is due."
The Form 1120 (or 1120S for an S Corporation) must be filed by the 15th day of the 3rd Month that follows the close of its tax year. Usually for calendar year Corporations, the due date is going to be March 15th.
Of course, the Corporation can file an automatic 6 month extension, thus the filing due date would be extended to September 15th. Failure to file a timely extension will result in a late filing penalty of $125 per month per partner.
Thus, all extensions for Calendar Year Corporations must be filed using Form 7004 by March 15th to avoid any potential late filing penalties.
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