The Claim
An S corporation files its federal income tax return on Internal Revenue Service Form 1120.
S corporations generally file their federal returns on Form 1120-S, not Form 1120. IRS materials explicitly identify Form 1120-S as the “U.S. Income Tax Return for an S Corporation,” while plain Form 1120 is a distinct return generally associated with C corporations. Omitting the “-S” changes the form being identified and makes the statement incorrect.
Claim:
A calendar-year C corporation files its federal income tax return on Form 1120.
NOT BS
Claim:
An S corporation has an April 15 federal income tax return filing deadline.
MOSTLY BS
Claim:
A calendar-year C corporation's federal income tax return is due on April 15.
NOT BS
Claim:
A calendar-year C corporation can obtain an automatic six-month extension to…
NOT BS