e-Services for Businesses - Illinois Department of Revenue

e-Services for Businesses

MyTax Illinois

MyTax Illinois is a centralized location on our website where taxpayers may register a new business or electronically file tax returns, make payments, and manage their tax accounts.

Services provided by MyTax Illinois:

Apply for or Renew a Sales Tax Exemption

File & Pay Use Tax (ST-44) - Should only be used by businesses that are not required to register...

Read more


Website: http://www.revenue.state.il.us

Tax Transcript Sample - See what IRS issued tax ...

Available for up to 4 tax years. 1040 Tax return transcript (pdf)

This is the most requested tax return product. It will show most line items on the original tax return filed. A transcript for 1040EZ may be two pages long, and a 1040 with many schedules may be 7-8 pages long.

Available for up to 4 tax years. Business Tax Transcript (pdf)

The business return sample is for 1120S, but 1065s and other 1120s will have similar...

Read more


Website: https://www.accuverify.com

Related topics : irs transcript tax return request / irs transcript tax return / tax return transcript / irs filing tax return / irs tax return form 1040

ExtensionTax.com |Dues Dates for Income Tax Returns

Form 4868 - Automatic 6-Month Extension

Form #

Due Date to File Extension

Description

Form 1040, 1040A, or 1040EZ

April 17, 2018 the due date for filing your calendar year return (usually April 15). If you file on a fiscal year basis (a year ending on the last day of any month except December), the due date is 3 months and 17 days after the close of your...

Read more


Website: https://www.extensiontax.com

Corporate Income Tax - Illinois Department of Revenue

35 ILCS 5/101 to 5/1701

Definition

The Illinois Income Tax is imposed on every corporation earning or receiving income in Illinois. The tax is calculated by multiplying net income by a flat rate. The Illinois Income Tax is based, to a large extent, on the federal income tax code.

Tax rate

Use the Tax Rate Database to determine the income and replacement tax rates.

Tax base

The starting point for...

Read more


Website: http://www.revenue.state.il.us

When Is a Corporate Tax Return Due? | Chron.com

If you form a corporate entity for your small business, regardless of whether it's taxed as a C or S corporation, a tax return must be filed with the Internal Revenue Service on its due date each year. Corporate tax returns are always due on the 15th day of the third month following the close of the tax year. The actual day that the tax return filing deadline falls on, however, isn't the same for...

Read more


Website: http://smallbusiness.chron.com

2017 tax filing due dates - IRS Medic

2017 tax filing due dates

by: Claudine Gindel   2017-01-11

January 17th

Individuals

Make a payment of your estimated tax for 2016 if you didn't pay your income tax for the year through withholding (or didn't pay in enough tax that way). Use Form  1040­-ES . This is the final installment date for 2016 estimated tax payments. However, you don't have to make this payment if you file your...

Read more


Website: https://www.irsmedic.com

Individual Income Tax- FAQ - South Carolina

How can a tax return be amended if a correction needs to be made after the return has been filed?

To correct an error on a previously filed income tax return, file Form SC1040X (Amended Individual Income Tax Return). Use the most recent version of the amended return available. Be sure to include a detailed explanation of the changes made as well as copies of the amended federal 1040X and all...

Read more

Date: 2018-04-05 22:36:39
Website: https://dor.sc.gov

IRS tax forms - Wikipedia

Main article: Form 1040

Form 1040, U.S. Individual Income Tax Return, is one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ - see below for explanations of each) used for personal (individual) federal income tax returns filed with the IRS. The first Form 1040 was published for use for the tax years 1913, 1914, and 1915. For 1916, Form 1040 was converted to an annual...

Read more

Date: 2018-04-05 08:38:24
Website: https://en.wikipedia.org

IRS Failure to File Penalty: Penalties for Not Filing a ...

IRS Failure to File Penalty: Penalties for Not Filing a Tax Return

The IRS has harsh penalties for taxpayers that don't file their tax returns. Some people end up not filing a tax return because they don't have money to pay. That is the worst thing you can do. The IRS failure to file penalty is significantly higher than the penalty for not paying your tax bill. Also, you have more options once...

Read more


Website: http://www.taxdebthelp.com

Corporate Income and Franchise Tax FAQs

Who is required to file a corporate tax return?

All corporations, associations, or entities doing business, earning income, or existing in Mississippi are required to file a corporate income and franchise tax return. Every corporation, domesticated or qualified to do business in Mississippi must file a return even if the corporation is inactive or not engaged in business.�

Back to top

What is...

Read more

Date: 2018-04-05 22:19:27
Website: http://www.dor.ms.gov

Florida State Business Income Tax | Nolo.com

What kind of tax will you owe on Florida business income?

Share on Facebook

Most states tax at least some types of business income derived from the state. As a rule, the details of how income from a specific business is taxed depend in part on the business's legal form. In most states, corporations are subject to a corporate income tax while income from "pass-through entities," such as S...

Read more


Website: https://www.nolo.com

Form 1120-F: U.S. Income Tax Return of a Foreign ...

posted by April Taylor

Often times, it proves troublesome for a foreign corporation to decide whether to file a US income tax return in order to report U.S. income. They can claim the possible tax credits and deductions; or disclose it as tax-exempt income under an existing tax-treaty to avoid double taxation.

The US Internal Revenue Service (IRS) requires foreign corporations, with branches or...

Read more


Website: http://agtax.ca

B3-3.1-06: Requirements and Uses of IRS Request for ...

Back to Part B

Use of IRS Form 4506-T to Validate Borrower Income Documentation

Fannie Mae requires lenders to have each borrower (regardless of income source) complete and sign a separate IRS Form 4506-T at or before closing. (As noted below in Completing and Submitting the IRS Authorization Form, it may be necessary to have the borrower complete and sign multiple IRS...

Read more


Website: https://www.fanniemae.com

B3-3.1-06: Requirements and Uses of IRS Request for ...

Back to Part B

Use of IRS Form 4506-T to Validate Borrower Income Documentation

Fannie Mae requires lenders to have each borrower (regardless of income source) complete and sign a separate IRS Form 4506-T at or before closing. (As noted below in Completing and Submitting the IRS Authorization Form, it may be necessary to have the borrower complete and sign multiple IRS...

Read more


Website: https://www.fanniemae.com

Online Professional Tax Software | ProConnect Tax Online

Make client data collection simple.

Link is a secure online portal that

makes it faster and more organized.

Work with all the tax essentials you count on.

Robust tax content

Access more than 5,600 forms for 1040, 1041, 1065, 1120, 1120S, 709 and 990 tax returns.

Handle the most complex tax scenarios with more than 18,000 automated calculations.

Prevent e-file...

Read more

Date: 2018-03-15 00:42:41
Website: https://proconnect.intuit.com

Related topics : tax return form 1040 / online tax return calculator / tax return online filing / 1120 tax return / tax online return

How to start your own tax business - The Income Tax School

Register with IRS as a Tax Preparer - Get Your Preparer Tax Identification Number (PTIN)

Apply for IRS Electronic Filing Identification Number (EFIN) so you can e-file tax returns. Before you can electronically file tax returns, you must apply to become an Authorized e-file provider with the IRS. This process is facilitated by the IRS in three phases:

Phase 1: Create an IRS e-services Account -...

Read more


Website: https://www.theincometaxschool.com

FAQs - Corporation Income Tax

What are additions to tax and interest charges?

Additions to tax are imposed for failure to file or failure to pay. Additions to tax are imposed for failure to file by the due date at the rate of 5 percent per month, not to exceed 25 percent of the unpaid balance. Additions to tax are imposed for failure to pay by the due date at the rate of 5 percent of the unpaid balance.

Interest is imposed on...

Read more


Website: http://dor.mo.gov

Final Tax Return C Corp - Ask TaxGuru

Final Tax Return C Corp

I am preparing the books for filing a final 2012 return (1120).

The private c corporation has a few shareholders. Recently the shares were repurchased at a steep discount in anticipation of dissolution as company did not make any profits. There is some money remaining for final distribution to two key shareholders ($40k) plus a buffer amount for expenses ($10k). These...

Read more


Website: http://www.asktaxguru.com

Profit & Loss Forms for the Self-Employed | Bizfluent

If you are self-employed, the type of operating structure you elect determines which form you use to report the profit and losses of your business. Timely filings help you avoid an IRS audit. The IRS imposes fines, interest and penalties for untimely business tax filings. If you earn income but are not subject to receiving a W-2, such as working under a sole proprietorship, partnership, LLC or...

Read more


Website: https://bizfluent.com

Form 8879-C - IRS e-file Signature Authorization for Form ...

IRS e-file Signature Authorization for Form 1120

For calendar year 2014, or tax year beginning , 2014, ending , 20

Do not send to the IRS. Keep for your records.

Information about Form 8879-C and its instructions is at www.irs.gov/form8879c.

OMB No. 1545-0123

Name of corporation Employer identification number

Part I Tax Return Information (Whole dollars only)

1 Total income (Form 1120, line 11) ....

Read more


Website: https://www.formsbirds.com

2017 Tax Law Changes | TaxAct

We keep track of all the tax law changes so you don't have to. TaxAct 2017 federal and state products have all the latest tax law changes to help you get your maximum guaranteed refund the fastest way possible!

Employees

Social Security wage ceiling

The maximum amount of earned income on which you pay Social Security tax is now $127,200. When you reach that amount with one employer, they should...

Read more


Website: https://www.taxact.com

New Due Dates for Tax Returns Due in 2017 - Paresky Flitt ...

January 2017

New Due Dates for Tax Returns Due in 2017

President Obama signed the short-term highway funding extension, H.R. 3236, into law on Friday, July 31, 2015. Included in that law were a series of revised filing deadlines for numerous taxpayers.

The most notable are as follows:

Partnerships (and entities taxed as partnerships) filing Form 1065: Calendar year filers will be due March...

Read more


Website: https://www.pareskyflitt.com

Related topics : corporate tax return extension due date 2017 / corporate tax return due date 2017 / corporate tax return due date / tax return due date / corporate tax returns due

Do You File Business Tax Returns Quarterly or Annually ...

Have you started a small business and need to know when to file your tax returns? Perhaps you've heard about filing quarterly returns and are wondering if that requirement applies to you? Read on to get answers to these important questions.

Annual Income Tax Returns. All small businesses must file a return annually. Generally speaking, if your business has a calendar year-end, you must file one...

Read more


Website: https://www.businessmanagementdaily.com

Corporate tax - Wikipedia

51%

Other corporate events[ edit ]

Many systems provide that certain corporate events are not taxable to corporations or shareholders. Significant restrictions and special rules often apply. The rules related to such transactions are often quite complex.

Formation[ edit ]

Most systems treat the formation of a corporation by a controlling corporate shareholder as a nontaxable event. Many systems,...

Read more

Date: 2018-04-03 05:21:10
Website: https://en.wikipedia.org

B3-3.2-03: IRS Forms Quick Reference (09/30/2014)

IRS Forms Quick Reference (09/30/2014)

B3-3.2-03: IRS Forms Quick Reference (09/30/2014)

This topic provides information on IRS tax forms.

The following table lists the IRS forms referenced in this section and provides the full titles.

IRS Form Number

Return of Organization Exempt From Income Tax Form

Form 1040

U.S. Individual Income Tax Return

Form 1040, Schedule B

Profit or Loss from Business (Sole Proprietorship)

Form 1040,...

Read more


Website: https://www.fanniemae.com

HodgenLaw PC - International Tax

Upcoming speech

I am going to be giving a one-hour high speed presentation at the 2011 Tax Update and Planning Conference sponsored by the California Society of CPAs. It will be presented in Universal City , San Francisco , and on the web .

My hour is intended to give practitioners a checklist approach to the various tax and reporting forms they might need to know about in the international...

Read more


Website: https://hodgen.com

Instructions for Schedule M-3 (Form 1065) (2017 ...

Instructions for Schedule M-3 (Form 1065) (2017)

Net Income (Loss) Reconciliation for Certain Partnerships

Section references are to the Internal Revenue Code unless otherwise noted.

2017

Instructions for Schedule M-3 (Form 1065) - Introductory Material

Future Developments

For the latest information about developments related to Schedule M-3 (Form 1065) and its instructions, such as...

Read more

Date: 2018-04-05 21:57:27
Website: https://www.irs.gov

Rules for Consolidated Tax Returns | Bizfluent

A group of affiliated corporations can file a single consolidated tax return rather than multiple separate ones. Affiliated corporations are linked by a shared parent corporation and tied together by stock ownership. Filing a consolidated return lets the parent company uses losses from one firm to offset income at another. The accounting can become complex, so some companies opt to stick with...

Read more


Website: https://bizfluent.com

S Corp vs. C Corp - Differences & Benefits | BizFilings

The C corporation is the standard corporation, while the S corporation has elected a special tax status with the IRS. It gets its name because it is defined in Subchapter S of the Internal Revenue Code. To elect S corporation status when forming a corporation, Form 2553 must be filed with the IRS and all S corporation guidelines met. But C corporations and S corporations share many...

Read more


Website: https://www.bizfilings.com

IRS Forms | Tax Forms | IRS Extension Form - DefenseTax

IRS Tax Forms & Schedules

IRS tax forms are used for taxpayers and tax-exempt organizations to report financial information to the Internal Revenue Service (IRS) of the United States. They are used to report income, calculate taxes to be paid to the federal government of the United States, and disclose other information as required by the Internal Revenue Code (IRC). There are 1,962 forms and...

Read more


Website: http://defensetax.com

LLC Tax Benefits & Deductions: 10+ Tax Tips To Know | IncNow

Home > Tax and Legal Tips for LLCs and Corporations

LLC Tax Deductions andBusiness Tax Loopholes

Updated for 2017 Tax Cuts and Jobs Act

One reason to incorporate is to save on taxes. It is helpful to know in advance how to structure your business to avoid paying higher effective tax rates than necessary with your Corporation or LLC.

Below is a summary of tax deductions, advantages, and loopholes...

Read more


Website: https://www.incnow.com

Is a Health Insurance Premium Tax Deductible With LLC ...

The Internal Revenue Service allows businesses to reduce taxable income by the amount of premiums it pays during the year to purchase health insurance for qualified individuals. A limited liability company is eligible to take the deduction. However, because LLCs are subject to various tax treatments, the type of taxation it is subject to dictates the eligibility requirements that must be met.

The...

Read more


Website: http://info.legalzoom.com

Related topics : tax deduction insurance premiums / tax deductible insurance premiums / health insurance premium tax / tax return deductions / corporation income tax return form

What You Need To Know About California LLC Due Dates, Tax ...

What You Need To Know About California LLC Due Dates, Tax Returns and Dissolution

What You Need To Know About California LLC Due Dates, Tax Returns and Dissolution

Posted by Paolo Rubino +

We received this contribution from our friend Mark Cummins, CPA ( http://markcumminscpa.com/ ), and gladly publish it with his permission. It's a recap of a phone conversation he had with the Franchise Tax...

Read more


Website: http://documentpeople.net

Related topics : franchise tax return due date / corporate tax return due date / tax return due date / corporate tax returns due / final tax return for llc

File a 1040ez Return or Full 1040? See the Difference | E ...

File a 1040ez Return or Full 1040? See the Difference

Knowing which 1040 to use can sometimes be a little difficult. Fortunately, our online tax preparation software takes on the decision-making process, determining exactly what needs to be filed in each situation. In most cases, a filer's return will use either a 1040EZ, 1040A, or the 1040 tax form. While we make this determination...

Read more


Website: https://www.e-file.com

The only small business tax checklist you need — Commerce Sync

The only small business tax checklist you need

March 7, 2016

by Christina O'Berto

"Death, taxes, and childbirth! There's never any convenient time for any of them!" - Scarlett O'Hara, Gone With the Wind

Scarlett O'Hara speaks the truth. It's never fun to file a federal income tax return for your small business, but we've made it a little easier by creating this checklist of things you'll need...

Read more


Website: https://commercesync.com

Reporting Your Taxes

If you are going to be in business, you'll want to know what types of business taxes may apply, including:

State and Federal Income Tax

This is a tax on you and/or your business's net income. If your business entity is a sole proprietorship, or you have a net profit reported on your individual income tax return from a partnership or S corporation, you pay any...

Read more


Website: http://www.taxes.ca.gov

TurboTax 2018 Tax Preparation Software

TurboTax Free Edition � >> edition details

Choose the TurboTax Online FREE Edition if you have a simple return and only need limited tax guidance. This edition works well for any income level and is an easy way to prepare your taxes for FREE. This Edition does NOT cover tax schedules C, D, E, and F

The TurboTax Online Free Edition searches for any tax credits you may be...

Read more

Date: 2017-12-01 17:50:12
Website: http://taxpreparationsoftware.com

S and C Corporations Create Different Tax Consequences

Learn more about keeping your business compliant with federal tax requirements.

S and C Corporations Create Different Tax Consequences

An S corporation is a pass-through tax entity, while a C corporation is a completely separate taxpayer from its owners.

A savvy business owner must carefully consider both nontax and tax ramifications when deciding how to structure the business. It is unwise to...

Read more


Website: https://www.bizfilings.com

Consultant's Corner: Tax Consequences of ... - GoSmallBiz

http://www.irs.gov/uac/Form-2553,-Election-by-a-Small-Business-Corporation

To develop a better understanding of the differences in tax treatment and owner distributions/compensation for partnerships, C corps, S corps and similarly taxed LLCs, you can review the following basic guidelines:

Partnership and LLC taxed as a partnership. A partnership is a pass-through entity for tax purposes. The...

Read more


Website: http://gosmallbiz.com

S Corporations - TaxGuru

S vs.  C  CORPORATIONS

 

{The following information is not intended to replace the services of a professional qualified income tax consultant who can better understand how these issues fit into your particular circumstances.  Trying to set up and/or operate a corporation of any kind without competent  professional guidance is asking for serious trouble.}

 

I continue to hear attorneys...

Read more

Date: 2012-05-06 19:59:16
Website: http://www.taxguru.org

How to Know If You Have to Pay Quarterly Taxes | QuickBooks

Do You Have to Pay Quarterly Taxes?

3 min read

Try QuickBooks Free

If your employer withholds money each week from your paycheck, then you likely don't have to think about making quarterly tax payments. However, for those of us who are self-employed or receive income in the form of interests, dividends, rent, alimony, gains from the sale of assets, prizes or awards, it may be necessary to make...

Read more


Website: https://quickbooks.intuit.com

Federal Income Tax Due Dates for 2014 - Free From Broke

Many taxpayers, particularly the self-employed, are required to make estimated income tax payments .  This is done by sending tax payments with Form 1040-ES ( here's the PDF of 1040-ES from the IRS site ).

The due dates for estimated tax payments are:

1st payment, April 15, 2014 - For the period January 1st through March 31st

2nd payment, June 16, 2014 - For the period April 1st through May...

Read more

Date: 2018-02-20 16:13:38
Website: http://freefrombroke.com

Akron Payroll and Tax Inc - Income Tax Preparation

Akron Income Tax Co.

Akron Income Tax Co. Accurate, Reliable and Secure. Let us handle your Accounting, Bookkeeping and Income Tax Preparation needs. You can trust us to deliver professional results at reasonable fees. Akron Income Tax Co. has the experience and resources necessary to help you complete your individual 1040 or business 1120 & 1065 income tax returns. Our in-depth tax knowledge...

Read more

Date: 2018-04-05 22:21:54
Website: http://www.apc1040.com

Related topics : akron income tax business return / income tax return small business / income tax return business / tax return trust income / income tax return 1040

Estimated Tax Payments - thismatter.com

For instance, the annualized factor for the 3rd period would be 1.5 = 12 / 8 because the 3rd estimated tax period ends on August 31 so that the estimated tax payment can be made by September 15. If a taxpayer earned $20,000 up to August 31, then the annualized income would be = $20,000 × 12/8 = $20,000 × 1.5 = $30,000. Because the 2nd estimated tax period ends on May 31, the applicable...

Read more

Date: 2018-03-16 19:40:39
Website: https://thismatter.com

TITLE 8 - CHAPTER 5. CORPORATION FRANCHISE TAX - Delaware

CHAPTER 5. CORPORATION FRANCHISE TAX

§ 501 Corporations subject to and exempt from franchise tax.

(a) Every telegraph, telephone or cable company, every electric company organized for the production and/or distribution of light, heat or power, every company organized for the purpose of producing and/or distributing steam, heat or power, every company organized for the purpose of the production...

Read more


Website: http://delcode.delaware.gov

Child Support Calculator Ontario | How Much Should You Pay

Annual Income:*+

$

+ Annual income is the gross income received before any taxes, cpp, EI, payroll deductions or any other amounts are deducted (ie. Line 150 of the payor's Income Tax Return filed).

*required fields

This support calculation performs very basic hold support calculations under the Ontario Child Support Guidelines. It does not determine the quantum of spousal support to be paid or received.

This calculation is intended as a starting point for child support calculations. It does not consider the payor's obligation to contribute to the special or extraordinary expenses for the...

Read more


Website: https://www.torontodivorcelaw.com

Related topics : self employed income tax calculator ontario / self employed income tax calculator 2018 / self employed income tax calculator / free income tax return calculator / tax income return calculator