Business and entity returns
S corporation, partnership, and C corporation returns, with the K-1s that go with them. Fixed fee agreed in writing before any work begins.
Who this is for
You run an S corporation and need the 1120-S and shareholder K-1s.
You are in a partnership or a multi member LLC that needs a 1065.
You have a C corporation that needs an 1120.
You own a US LLC from outside the United States and have 5472 reporting to do.
If your situation is close to one of these but not quite the same, describe it and you will get a straight answer about whether it is a good fit.
What is included
- The federal entity return for your structure
- Schedules K-1 for each owner, prepared from the entity return
- One state return, where the state requires an entity filing
- Electronic filing, with confirmation once the return is accepted
What it costs
Starting fees for this service, confirmed in writing before any work begins.
| Service | Forms | Fee |
|---|---|---|
| S corporation returnFederal return with shareholder K-1s. | 1120-S, K-1 | from $650 |
| Partnership returnFederal return with partner K-1s. | 1065, K-1 | from $600 |
| C corporation returnFederal corporate return. One state included. | 1120 | from $700 |
| Foreign owned LLC filingReporting for a foreign owned single member LLC, filed with a pro forma 1120. | 5472, pro forma 1120 | from $450 |
| Additional state returnPer state, beyond the one included with the federal return. | Varies by state | from $75 |
See the full table for every service and for what changes a price.
What is not included
Stated plainly, because an unclear scope is what turns a fixed fee into an argument. Anything below can usually still be done, and is quoted separately before it starts.
- Bookkeeping, cleanup, or reconciling the books before the return can start, quoted separately
- Payroll filings, sales tax returns, and franchise or annual report filings
- The individual returns of the owners, which are priced separately
- Registered agent services or entity formation
- Representation in an audit or an appeal
Common questions
When are business returns due?
For a calendar year entity, partnership returns on Form 1065 and S corporation returns on Form 1120-S are due March 15, and C corporation returns on Form 1120 are due April 15. Each can be extended by six months. Partnership and S corporation deadlines come a month before the individual deadline on purpose, because the owners need their K-1s before they can file.
What is the penalty for filing a partnership or S corporation return late?
The penalty is charged for each owner for each month the return is late, for up to twelve months. Because it multiplies by the number of partners or shareholders, it grows quickly on an entity with several owners even when no tax is owed. The per owner amount is set by statute and adjusted for inflation.
Does my S corporation have to pay me a salary?
If you are a shareholder who works in the business, you must be paid reasonable compensation as wages through payroll before taking distributions. This is a long standing area of IRS attention, because wages carry employment tax and distributions do not. What counts as reasonable depends on the work you actually do.
I own a US LLC from outside the United States. What do I have to file?
A foreign owned single member LLC is treated as a corporation for reporting purposes and must file Form 5472 attached to a pro forma Form 1120, even when the LLC had no income and owes no tax. The penalty for failing to file is 25,000 US dollars per form. The LLC needs its own EIN before anything can be filed.
My business had no activity this year. Do I still need to file?
Generally yes. A partnership or an S corporation is required to file for every year it exists, whether or not it traded, and the late filing penalty applies even when there is no tax to pay. The cleanest way to stop the filing obligation is to formally dissolve the entity rather than to leave it dormant.
Start here
Describe your situation and you will have a fixed fee in writing within one business day. Do not send documents or identifying numbers until that fee is agreed.