IRS FORMS & EXPLANATIONS

Tax Services by IRS Form Type

Below is an overview of the most commonly used IRS tax forms and the services we provide for each. Each item includes a direct link to the official IRS page for reference.

Individual Taxes: Form 1040 – Individual Income Tax Return

Who it’s for: U.S. individuals, including employees, retirees, and self-employed taxpayers.

What it’s for: Annual personal income tax return. Reports wages, retirement income, interest, and other income.

IRS link: https://www.irs.gov/forms-pubs/about-form-1040

Self-Employed & Single-Member Businesses: Schedule C (Form 1040) – Profit or Loss From Business

Who it’s for: Sole proprietors and single-member LLCs filing with Schedule C.

What it’s for: Reports business income and expenses as part of the individual tax return.

IRS link: https://www.irs.gov/forms-pubs/about-schedule-c-form-1040

Partnerships & Multi-Member LLCs: Form 1065 – U.S. Return of Partnership Income

Who it’s for: Partnerships and multi-member LLCs.

What it’s for: Reports business income and expenses. Profits and losses pass through to partners via Schedule K-1.

IRS link: https://www.irs.gov/forms-pubs/about-form-1065

Corporate Taxes

Form 1120 – U.S. Corporation Income Tax Return (C-Corp)

Who it’s for: C-Corporations.

What it’s for: Corporate income tax return filed by the company itself.

IRS link: https://www.irs.gov/forms-pubs/about-form-1120

Form 1120-S – U.S. Income Tax Return for an S Corporation

Who it’s for: S-Corporations.

What it’s for: Reports corporate income and expenses. Income generally passes through to shareholders via Schedule K-1.

IRS link: https://www.irs.gov/forms-pubs/about-form-1120-s

Estates & Trusts: Form 1041 – U.S. Income Tax Return for Estates and Trusts

Who it’s for: Estates and trust entities.

What it’s for: Reports income earned by an estate or trust.

IRS link: https://www.irs.gov/forms-pubs/about-form-1041

Nonprofit Organizations: Form 990 – Return of Organization Exempt From Income Tax

Who it’s for: Nonprofit and tax-exempt organizations.

What it’s for: Annual informational return reporting of finances and activities.

IRS link: https://www.irs.gov/forms-pubs/about-form-990

Employment & Contractor Reporting

Form W-2 – Wage and Tax Statement

Who it’s for: Employers and employees.

What it’s for: Reports employee wages and tax withholdings for the year.

IRS link: https://www.irs.gov/forms-pubs/about-form-w-2

Form 1099-NEC – Nonemployee Compensation

Who it’s for: Businesses paying independent contractors or freelancers.

What it’s for: Reports payments made to non-employees.

IRS link: https://www.irs.gov/forms-pubs/about-form-1099-nec

Disclaimer: This content is for informational purposes only. Tax situations vary by individual and business. Please contact us for personalized guidance.