Taxes 🏛 IRS

Federal Income Tax – S Corporation

S corporations file Form 1120-S and issue Schedule K-1 to shareholders. Income passes through to shareholders' personal returns. S corp status requires IRS election via Form 2553 and ongoing compliance with shareholder and stock restrictions.

Source Agency
IRS

Last Verified
March 1, 2026

Next Review
May 30, 2026 ⚠

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