Sole proprietor or individual-owned single-member LLC, with Form 1040
Business tax returns
Business Tax Returns
Business Tax Returns
File the Right Return
Your return depends on how your business is taxed, not just its name. We match the right federal return and coordinate your federal and state filings.
- Federal
- State
- Extensions
- Foreign-Owned
Which Tax Return Does My Business File?
A state-law LLC doesn’t automatically have one federal return. It depends on ownership and elections.
Business
Taxed as
Form 1065+ Schedule K-1 for each partner
Due March 15Calendar-year filers
Extension: Form 7004More time to file, not to pay
Foreign-owned single-member LLC? A pro forma Form 1120 with Form 5472 may be required, even with no U.S. income tax.
The Five Common Federal Filing Paths
Partnership or multi-member LLC, with a K-1 for each partner
S corporation or LLC with an S election, with a K-1 for each shareholder
C corporation or LLC taxed as a C corporation
With a pro forma 1120, for a foreign-owned disregarded entity with reportable transactions
What Each Return Involves
General calendar-year due dates; a weekend or holiday date moves to the next business day.
Schedule C for sole proprietors
- Business income
- Business expenses
- Depreciable equipment
- Self-employment tax
With Form 1040: April 15
Form 1065 for partnerships
- Partnership return
- K-1 for each partner
- Partner capital information
- State partnership returns
March 15
Form 1120-S for S corporations
- K-1 for each shareholder
- Officer pay reconciled
- Shareholder distributions
- State S corporation returns
March 15
Form 1120 for C corporations
- 21% federal rate
- Estimated-tax installments
- State corporate taxes
- Shareholder distributions
April 15
Federal Deadlines at a Glance
- March 15Form 1065 (partnerships) and Form 1120-S (S corporations)
- April 15Form 1120 (C corporations) and Schedule C with Form 1040
Calendar-year filers. A weekend or legal holiday moves the date to the next business day; state deadlines can differ.
More Time to File, Not to Pay
Form 7004Generally six more months to file Forms 1065, 1120-S and 1120, if filed by the original due date.
Tax due is still payable by the original due date. Schedule C filers extend through the individual Form 1040 process instead.
State returns
Federal Filing Is Only Part of the Process
State filings depend on your entity, tax classification, nexus and where you earn income.
- Corporate income tax
- Pass-through entity returns
- Franchise or privilege tax
- Gross-receipts tax
- Nonresident owner filings
- Foreign qualification nexus
Annual Returns Don’t Replace Estimated Payments
Some businesses and owners pay estimated tax during the year; the annual return reconciles it. Estimate calculations and tax planning are scoped separately unless your package includes them.
- Q1 estimate
- Q2 estimate
- Q3 estimate
- Q4 estimate
- Annual return
- C corporations can owe federal estimated tax
- States can require separate estimates or franchise payments
- Pass-through owners can owe individual estimates
- Payroll withholding doesn’t cover every owner’s tax
Clean Books Make Tax Prep More Efficient
- Final P&L
- Starting point for income and expenses
- Balance sheet
- Assets, liabilities and equity schedules
- Fixed assets
- Depreciation and disposals
- Owner activity
- Capital, distributions and loans
Returns Should Agree With Payroll
Businesses with employees reconcile year-end wage and payroll-tax figures before filing:
- Form W-2 and W-3 totals
- Quarterly Form 941 totals
- Form 940, where it applies
- State wage and withholding reports
- Officer compensation for corporations
- Payroll liabilities in the ledger
S corporations: officer pay for shareholder-employees is reconciled with the year-end books.
Explore Payroll Services
Foreign-owned businesses
Special Reporting for Foreign-Owned U.S. Entities
| Situation | Possible federal filing |
|---|---|
| 25% foreign-owned U.S. corporation | Form 5472 with Form 1120, for reportable related-party transactions |
| Foreign-owned single-member LLC | Pro forma Form 1120 with Form 5472 |
| Foreign corporation in a U.S. business | Form 1120-F and possibly other information returns |
| Partnership with international items | Form 1065 with Schedules K-2 and K-3 where required |
Missing a required Form 5472 can mean a $25,000 penalty, with more possible after IRS notice. It’s never an optional add-on.
International Founders Guide
Sales tax
Tax & Accounting
Sales Tax Returns Are Separate
A federal income-tax return doesn’t replace state sales-tax registration, collection or periodic sales-tax returns.
Documents
What Should You Prepare?
Having these ready keeps the return moving.
- Business identityName, EIN, classification
- Financial statementsP&L, balance sheet, ledger
- Bank and cardYear-end statements
- Income1099s and sales summaries
- ExpensesDetail and schedules
- AssetsPurchases and disposals
- PayrollW-2, 941, 940, state
- OwnersShares, contributions, loans
- Prior returnsFederal, state, carryforwards
- InternationalForeign owners, related parties
Pricing That Follows Your Return
From a simple Schedule C to a multi-state corporation, the price matches the return and schedules you need.
Schedule C
Disregarded entity
From $—
- Business schedule
- Bookkeeping readiness review
- Personal return scope confirmed
1065 or 1120-S
Partnership or S corp
From $—
- K-1 for each owner
- Payroll reconciliation
- State returns, priced per state
Form 1120
C corporation
From $—
- Federal corporate return
- Assets and depreciation
- State returns, priced per state
Foreign-Owned
Specialist review
Quote after review
- Form 5472 and pro forma 1120
- Related-party transactions
- Form 1120-F or K-2/K-3
Price depends on owners, states, assets, payroll and international schedules. Compare All Features
Client portal
See the Client Portal
Manage Tax Preparation From One Dashboard
Checklist, questions and filed returns together. Select a tile to see what it shows.
2026 Form 1065 Example
- Documents
- Preparing
- Questions
- Review
- Filed
Document Checklist: See the year-end documents we still need.
FAQ
Business Tax Return Frequently Asked Questions
What tax return does my LLC file?
It depends on federal tax classification. A single-member LLC owned by an individual generally reports on the owner’s return, a multi-member LLC is generally taxed as a partnership by default, and an LLC can elect C or S corporation treatment.
Does every LLC file Form 1065?
No. Form 1065 generally applies to partnerships and multi-member LLCs taxed as partnerships. A single-member disregarded LLC usually doesn’t file Form 1065.
What tax return does an S corporation file?
An S corporation generally files Form 1120-S and gives a Schedule K-1 to each shareholder.
What tax return does a C corporation file?
A C corporation generally files Form 1120.
What does a partnership file?
A partnership generally files Form 1065 and gives a Schedule K-1 to each partner.
What does a sole proprietor file?
A sole proprietor generally reports business income and expenses on Schedule C attached to Form 1040, when Schedule C is the right business schedule.
When is Form 1065 due?
For a calendar-year partnership, generally March 15, or the next business day if that date falls on a weekend or legal holiday.
When is Form 1120-S due?
For a calendar-year S corporation, generally March 15, subject to the weekend and holiday rule.
When is Form 1120 due?
For a calendar-year C corporation, generally April 15, subject to the weekend and holiday rule and special fiscal-year provisions.
Can a business get a tax-return extension?
Many business returns get an automatic extension by filing Form 7004 on time. It generally gives more time to file, not more time to pay.
Does a tax extension extend the payment deadline?
Generally no. Tax due is ordinarily still payable by the original due date, even when the filing deadline is extended.
Do I need a state business tax return too?
Possibly. State requirements depend on entity type, tax classification, nexus and the states where the business operates or earns income.
Do business tax returns include sales-tax returns?
No. Sales-tax registration and periodic sales-tax returns are separate from federal and state income-tax returns.
Do I need bookkeeping before filing the business return?
You need complete financial records. If the books are incomplete or unreconciled, cleanup may be needed before the return can be prepared accurately.
Does an S corporation return need payroll information?
Usually yes, when the corporation has employees or shareholder-employees. Payroll and officer compensation should be reconciled with the year-end books.
Does a foreign-owned single-member LLC have a federal filing even if it has no U.S. income tax?
It can. A foreign-owned U.S. disregarded entity may need a pro forma Form 1120 with Form 5472 when it has reportable transactions.
What is the penalty for missing Form 5472?
The IRS states that a $25,000 penalty can apply for failing to file a complete and correct Form 5472 when required, with more penalties possible after IRS notice.
How much does business tax preparation cost?
It depends on the federal return type, how ready the books are, the number of owners and states, assets, payroll, international reporting and other schedules.
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Related services
Connect Tax Filing With the Records Behind It
BookkeepingGet the books current and reconciled before tax prep.Bookkeeping
PayrollReconcile wages, payroll taxes and officer pay with the return.Payroll
Tax & AccountingTax registrations, accounting and broader tax support.Tax & Accounting
Annual ReportsState entity filings, separate from income-tax returns.Annual Reports
Business ComplianceEntity, tax and state compliance in one workflow.Business Compliance
International FoundersU.S. entity reporting for foreign-owned businesses.International Founders
Ready to File the Right Return?
Tell us your entity type, tax classification, tax year and filing states. We’ll identify the federal return and organize what’s needed for your federal and state filings.
Forms, deadlines and state rules depend on your tax classification and tax year.