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IRS 1120 2025 Form Anaheim California: What You Should Know
The estimated tax calculation begins on the latter of the due date and date the return is filed. 3. You may calculate an estimated tax under this method on a calendar basis, using only the returns you receive. 4. The computation under this method is made for your sole purpose which shall be to enable you to determine and report your actual tax liability after the collection of the estimated tax. Do not use this method for any purpose for which you may use the actual method (Form 1040). 5. Your estimated tax will be used to calculate the amount of tax payable to the IRS from which you will receive a refund. 6. If you are a U.S. or Canadian citizen, resident or corporation, the IRS will use this method to determine your estimated tax liability on the tax year following the close of the year for the tax year when you receive your return. 7. If you are not a U.S. or Canadian citizen, resident or corporation, the IRS will assess the estimated tax and make a refund on your actual tax liability to the extent the estimated tax is greater than a refundable credit. The refund will be credited against your refundable credit. If the amount of the refund (after credited taxes and credits) equals or exceeds the unearned credit for the tax year, then a refund on the amount of the unearned credit is a credit. The amount of the receivable credit is reported on Form 1040X. 8. For information on tax withholding, see the IRS Publication 926. You can prepare Form 1120-W for the specific tax year by completing the appropriate line for the particular year. Do not use Form 1120-EZ, U.S. Corporation Income Tax Return (Form 1120-EZ), to handle the return for a particular year. Do not use form 1120-W when filing a tax return for a period other than 1 year. 9. Do not use this form for the following purposes: • to calculate the amount of tax payable, or, if you are not required to file a return, to determine how much tax you are liable for; • to obtain information on business or investment, estate and gift tax, withholding tax, or nonresidents' retirement income tax; • to estimate a refund; or • to obtain information with respect to Form 3115, Annual Return of Foreign Bank and Financial Accounts (SF-BSA) Information for U.S. Citizens. For an explanation of the following terms, see the instructions for the form.
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