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Expert S Corporation Tax Filing Solutions
At Equity Tax, we specialize in preparing and filing S Corporation tax returns that meet every IRS and state requirement while strategically minimizing tax liability for shareholders. With our team’s deep understanding of pass-through taxation, we ensure your business remains compliant while you maximize your potential savings.
An S Corporation offers powerful tax benefits — income, deductions, and credits flow directly to shareholders — but it also requires accuracy, documentation, and consistent compliance to maintain its IRS status. Our experts handle every step of the process with precision: from Form 1120-S preparation and Schedule K-1 distribution to payroll analysis and quarterly tax planning. With Equity Tax, your S Corporation is in the hands of professionals who understand both the technical and strategic sides of business taxation.
How Our S Corporation Tax Filing Process Works
We serve Northwest Arkansas, the entire state of Arkansas, and neighboring states, with consulting clients nationwide. Our flexible approach allows us to work with clients through in-person meetings, phone calls, webinars, emails, texts, and messaging.
Consultation & Data Review
We start by reviewing your corporation’s structure, prior filings, and shareholder agreements to understand your goals and identify tax opportunities.
Document Gathering
Our team collects financials, payroll reports, capital accounts, and expense documentation to build your S-Corp tax file.
Preparation & Optimization
We prepare Form 1120-S, confirm ownership allocations, and ensure payroll and distributions align with IRS “reasonable compensation” standards.
Review & Shareholder Confirmation
We walk through the draft return with you, review each shareholder’s Schedule K-1, and ensure complete accuracy before submission.
E-Filing & Year-Round Support
We securely e-file your federal and state returns, distribute all shareholder documents, and provide continuous support for notices, amendments, or next year’s planning.
Why S Corporations Choose Equity Tax
Our team has deep experience working with S Corporations across industries — from real estate firms and medical practices to service-based and tech companies. We understand the balance between compliance and strategy, helping businesses maximize the benefits of pass-through taxation while minimizing audit risks.
We also assist with entity conversions, ensuring that your business structure always supports your financial goals and tax efficiency.
Our Full Range of S Corporation Tax Services
We go beyond filing to provide holistic support for your S Corporation’s long-term success.
S Corporation Tax Filing in the United States
Have questions about your taxes? Our experts are here to help you understand deductions, refunds, and compliance — so you can file with confidence and peace of mind.
When are S Corporation tax returns due?
S Corporation returns (Form 1120-S) are due March 15 or the 15th day of the third month after the fiscal year ends. An extension may be filed for six months.
What forms do S Corporations file?
S Corporations file Form 1120-S, and each shareholder receives a Schedule K-1 reporting their share of income, deductions, and credits for inclusion on their personal return.
Do S Corporations pay corporate income tax?
No, generally not. S Corporations are pass-through entities, meaning income passes directly to shareholders, who report it on their personal returns. However, some states impose entity-level taxes.
What is “reasonable compensation”?
The IRS requires S Corporation owners who actively work in the business to pay themselves a reasonable salary before taking distributions. We analyze and guide you to meet this requirement.
Can you help new corporations elect S Corporation status?
Yes. We prepare and file Form 2553 with the IRS, ensuring your entity meets eligibility criteria and deadlines for S Corp election.
What if I missed the S Corporation election deadline?
We can assist with late election relief under IRS guidelines and retroactively recognize your S Corporation status when eligible.
Do S Corporations need to pay estimated taxes?
Yes. While the corporation itself may not pay tax, shareholders typically make quarterly estimated payments based on their income from the S Corporation.
Can you help with multi-state S Corporations?
Absolutely. We manage state filings, apportion income, and ensure each shareholder’s K-1 is accurate for their resident state