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Federal business tax help?

Question: Federal business tax help?

(Posted by: Angel O on 2011-01-25 20:54:01)

Ive ALREADY filed my state business tax returns, but what do I need to file my federal business tax returns? Do I have to file a federal business tax return?and does it need to be filed with my regular yearly taxes or seperatly?


Posted by: Fred on 2011-01-25, 21:08:24

By your question I can assume you have formed an LLC, Corporation or Partnership. Of course you have to file a federal business return and depending upon the type of entity must be filed by either March 15 or April 15. LLCs are a non-entity in the eyes of the IRS so you must elect the treatment (return to be filed). It can be filed as a corporation (1120/ 1120S), a partnership (1065), a trust (1041) or a sole proprietorship (Schedule C on a 1040). Depending on the type of return, you file by that return’s deadline. Corporations (1120/ 1120S) by March 15 Partnerships (1065) by April 15 Trusts (1041) by April 15 “and does it need to be filed with my regular yearly taxes or separately ” It is a separate return unless your business is a sole proprietorship (Schedule C on a 1040).


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