IRS Form 1120-W Estimated Tax for Corporations

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IRS Form 1120-W Estimated Tax for Corporations

What Is Form 1120-W?

IRS Form 1120-W, Estimated Tax for Corporations - also known as the "Federal Corporate Estimated Tax Form" - is a form filed by corporations with the Internal Revenue Service (IRS) in order to estimate their tax liability and figure the amount of their estimated tax payments.

The form has a related Schedule A, Adjusted Seasonal Installment Method, and Annualized Income Installment Method (found within Form 2220), which consists of three parts:

  • Part I, Adjusted Seasonal Installment Method;
  • Part II, Annualized Income Installment Method; and
  • Part III, Required Installments.

The Form 1120-W fillable version can be downloaded below.

IRS Form 1120-W Instructions

Complete guidelines can be found in the official booklet released by the IRS. Corporations are required to make estimated tax payments if they expect their estimated tax to be $500 or more. S corporations are required to make estimated tax payments for certain taxes. S corporations should read the IRS-issued instructions for Form 1120-S to calculate their estimated tax payments. Tax-exempt trusts, tax-exempt corporations, and domestic private foundations must make estimated tax payments for certain taxes.

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When Are Corporate Estimated Tax Payments Due?

Corporate estimated tax payments are, in general, due by the 15th day of the tax year's 4th, 6th, 9th, and 12th months. If the due date falls on a weekend, or a legal holiday, the installment payment is due on the next business day.

Some corporations are required to electronically deposit all depository taxes, including the federal corporate estimated tax payments. If the estimated tax payments are not done by the due date, the corporation may be subject to an underpayment penalty for the underpayment period. Use Form 2220 to see if the corporation owes a penalty and to figure the penalty amount.

IRS 1120-W Related Forms

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