Tax Return

What is a tax return?

A tax return is the form you file with the IRS (and state tax agencies) reporting your income, deductions, and calculated tax. It shows how much you owe or how much should be refunded if you overpaid through estimated taxes or withholding.

For small business owners, tax returns include both personal and business information, depending on your business structure.

Small business tax returns

How you file depends on your business type:

• Sole proprietor — Schedule C attached to your personal Form 1040
• Single-member LLC — Same as sole proprietor (unless you elect otherwise)
• Partnership/Multi-member LLC — Form 1065, with K-1s to partners
• S Corporation — Form 1120-S, with K-1s to shareholders
• C Corporation — Form 1120 (separate corporate return)

Filing deadlines

Individual returns (including Schedule C) are due April 15. Partnership and S Corp returns are due March 15. Extensions are available but extend time to file, not time to pay—you still need to estimate and pay by the original deadline.