Corporate Tax Return Preparation

Form 1120 Preparation for Colorado C Corporations

CPA of Denver prepares federal Form 1120 and applicable Colorado corporate income tax returns for closely held C corporations. Preparation starts with the corporation’s accounting records, prior filings, state activity and transactions with its owners.

Records Needed for Your Corporate Return

• Prior federal and state returns and year-end financial statements.
• General ledger, beginning and ending balance sheets and account reconciliations.
• Payroll reports and records of officer compensation and benefits.
• Shareholder loans, dividends, capital contributions and other owner transactions.
• Asset purchases, disposals, financing, depreciation and tax-payment records.

Coordinate Corporate and Shareholder Reporting

Wages, dividends, reimbursements and loans can affect both corporate records and owner reporting. We identify related questions during the preparation review; shareholder return preparation and additional planning are separate services unless included in the agreement.

Confirm the Corporate Preparation Scope

The accepted scope identifies the corporation, tax year, returns, states and records needed. Unreconciled books, amendments, complex ownership transactions and additional states may require separately quoted work. If the company is an LLC, first confirm its filing treatment through the LLC classification guide.

Frequently Asked Questions

What is the filing deadline for a C corporation?

A calendar-year C corporation generally files Form 1120 by April 15, subject to extensions and special rules.

Should corporate and shareholder returns be coordinated?

Yes. Wages, dividends, loans, reimbursements, and property transfers can affect both filings.

Related Tax Services

• Tax Planning for Individuals and Business Owners
• Estimated Tax Planning
• Individual Tax Preparation (Form 1040)