1120
Business & Finance abbreviation · Tax
| Stands for | U.S. Corporation Income Tax Return (IRS Form 1120) |
|---|---|
| Categories | Business & Finance |
1120 stands for U.S. Corporation Income Tax Return (IRS Form 1120), a tax abbreviation.
Federal income tax return for C corporations, which pay tax at the entity level at a flat 21% rate. Shareholders are taxed again on dividends, the so-called double taxation of corporate profits.
Example: The startup is a Delaware C corp, so it files a 1120 even though it lost money.
Usage notes
The flat rate replaced graduated rates of up to 35% starting in 2018. Calendar-year corporations file by April 15, a month later than S corporations and partnerships. Specialized variants include Form 1120-F for foreign corporations and Form 1120-H for homeowners associations.
Related abbreviations
More tax abbreviations
- 1099-G – Certain Government Payments (IRS Form 1099-G)
- 1099-INT – Interest Income (IRS Form 1099-INT)
- 1099-K – Payment Card and Third Party Network Transactions (IRS Form 1099-K)
- 1099-MISC – Miscellaneous Information (IRS Form 1099-MISC)
- 1099-NEC – Nonemployee Compensation (IRS Form 1099-NEC)
- 1099-R – Distributions From Pensions, Annuities, Retirement or Profit-Sharing…
- 1120-S – U.S. Income Tax Return for an S Corporation (IRS Form 1120-S)
- 409A – Section 409A (nonqualified deferred compensation rules)
- 4868 – Application for Automatic Extension of Time To File U.S. Individual…
- 501(c)(3) – Charitable organization (Internal Revenue Code section 501(c)(3))
- 501(c)(4) – Social welfare organization (Internal Revenue Code section 501(c)(4))
- 83(b) – Section 83(b) election