If you have formed a limited liability company that is being taxed as an S corporation, also called an S Corp, you will at some point need to become acquainted with form 1120-S. The IRS Form 1120-S is ...

Tax preparers of IRS Form 1120S for a subchapter S corporation are required to do an annual calculation to reconcile the corporation's balance sheet on the tax return, Schedule L, with the net income ...