Get Form 1120-SF (Rev. May 1999). U.S. Income Tax Return For Settlement Funds (Under Section 468B)

It is mandatory for all corporations to file annual tax returns, even if the business was inactive or did not receive income. An LLC that chooses to be treated as a C corporation for tax purposes is required to file Form 1120 (U.S. Corporation Income Tax Return).

The IRS says to use Form 1120-W to calculate C corp estimated tax payments, 1120-S for an S corporation. Payments are due on the 15th day of the fourth, sixth, ninth and 12th months of the tax year, or the first business day after if the due date is a weekend or holiday.

You can pay online, by phone or with your mobile device. Visit IRS.gov/payments for payment options, telephone numbers, and easy ways to pay your taxes.

10178: 1120 - Payment of Balance and Estimated Taxes Both tax due and estimated tax payments must be made electronically. To pay corporate tax due, use either the PMT screen or EFTPS (Electronic Federal Tax Payment System). For a demonstration, see the video Electronic Funds Withdrawal and Related Links below.

A qualified settlement fund is a United States person and is subject to tax on its modified gross income for any taxable year at a rate equal to the maximum rate in effect for that taxable year under section 1(e).

If you receive a settlement in California that is considered taxable income, you will need to report it on your tax return. You will typically receive a Form 1099-MISC, which reports the amount of taxable income you received during the year.

Payment by EFTPS, Payment by credit card or debit card via phone or Internet, Payment via check or money order, Payment with cash at a retail partner.

Pay your taxes online at .eftps.gov, over the phone, or through your tax professional, payroll service, or financial institution.