Form 1120-C, U.S. Income Tax Return for Cooperative Associations, must be filed by corporations operating on a cooperative basis, allocating amounts to patrons, except for certain exempt organizations. The filing deadline varies depending on the tax year ending date.
What is Form 1120-C?
Form 1120-C, U.S. Income Tax Return for Cooperative Associations is used by corporations operating on a cooperative basis to report income, gains, losses, deductions, credits, and to figure income tax liability. It must be filed by the 15th day of the 9th or 4th month after the end of the tax year depending on certain exceptions; the due date can also be extended by filing Form 7004. PDS can be used to meet “timely mailing as timely filing” rule.
IRS Form 1120-C – Who Needs to Fill It Out?
IRS Form 1120-C needs to be filled out by any corporation operating on a cooperative basis under section 1381 and who allocates amounts to patrons on the basis of business done with or for them. Exceptions include organizations exempt from income tax, insurance companies, and those engaged in providing electric energy or telephone services to people in rural areas. The form should be filed to the IRS center address depending on the association’s principal business, office, or agency’s location. It should generally be filed by the 15th day of the 4th month after the end of its tax year, or the 15th day of the 9th month for certain cooperatives. An extension can be applied for using Form 7004 before the regular due date.
Step-by-Step: Form 1120-C Instructions For Filling Out the Document
Filling out Form 1120-C, U.S. Income Tax Return for Cooperative Associations, is a necessary step for any corporation operating on a cooperative basis under section 1381, allocating amounts to patrons on the basis of business done for such patrons. If the cooperative’s principal business, office or agency is located in the U.S., returns should be filed with the IRS center address in Ogden, UT while if they are based in a foreign country or U.S. possession, they should be sent to the IRS center address in P.O. Box 409101. The due date for filing varies based on the tax year of the cooperative. If they need more time, they can apply for an extension via Form 7004. Private delivery services, such as those designated by the IRS, are also available for use.
Below, we present a table that will help you understand how to fill out Form 1120-C.
| Information for Form 1120-C | Details |
|---|---|
| Cooperative Associations | File for corporations operating on a cooperative basis |
| Filing Location | IRS center address in Ogden, UT or P.O. Box 409101 |
| Due Date | Varies based on the tax year |
| Extensions | Can apply for an extension via Form 7004 |
Do You Need to File Form 1120-C Each Year?
Form 1120-C, U.S. Income Tax Return for Cooperative Associations, must be filed by any corporation operating on a cooperative basis and allocating amounts to patrons. Exceptions are made for organizations exempt from taxation, mutual savings banks, insurance companies, or those providing utility services to rural areas. Generally, the return must be filed by the 15th day of the 4th month after the end of its tax year, but if the tax year ends in June, the due date is the 15th day of the 3rd month after the end of its tax year. An extension may be requested by filing Form 7004 by the regular due date. Private Delivery Services can be used to meet the “timely mailing as timely filing” rule.
Download the official IRS Form 1120-C PDF
On the official IRS website, you will find a link to download Form 1120-C. However, to make it easier for you, we are providing the link in our article, which comes directly from the official irs.gov website! Click to download: Form 1120-C
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