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  2. S corporation - Wikipedia

    en.wikipedia.org/wiki/S_corporation

    An S corporation (or S Corp), for United States federal income tax, is a closely held corporation (or, in some cases, a limited liability company (LLC) or a partnership) that makes a valid election to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code. [1] In general, S corporations do not pay any income taxes.

  3. 6 Smart Year-End Tax Moves for Side Hustlers - AOL

    www.aol.com/finance/6-smart-end-tax-moves...

    The IRS offers Form 1040-ES to calculate estimated federal tax payment amounts based on expected self-employment earnings. The deadline for the final quarterly payment for 2024 is Jan. 15, 2025.

  4. Flow-through entity - Wikipedia

    en.wikipedia.org/wiki/Flow-through_entity

    Since 95% of businesses are incorporated as pass-through entities [12] Examples include "sole proprietorships, partnerships and S corporations that currently pay taxes at the individual rate of their owners." [2] whose owners pay taxes as if it were personal income at a much lower rate. This represents a large tax cut for owners that is capital ...

  5. Permanent S Corporation Built-in Gains Recognition Period Act ...

    en.wikipedia.org/wiki/Permanent_S_Corporation...

    This summary is based largely on the summary provided by the Congressional Research Service, a public domain source. [1]The Permanent S Corporation Built-in Gains Recognition Period Act of 2014 would amend the Internal Revenue Code of 1986 to reduce from 10 to 5 years the period during which the built-in gains of an S corporation are subject to tax and to make such reduction permanent.

  6. When does tax filing season start? What you need to know ...

    www.aol.com/does-tax-filing-season-start...

    A 1040 tax form is pictured, the 2025 tax deadline is set to be on April 15, 2025. ... the standard penalty is 5% of the tax due for every month the return is late, up to 25% of the unpaid balance ...

  7. Corporate tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Corporate_tax_in_the...

    U.S. corporate income tax return form 1120. [80] Corporations subject to U.S. tax must file federal and state income tax returns. [81] Different tax returns are required at the federal and some state levels for different types of corporations or corporations engaged in specialized businesses.

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