S-Corp Tax Return Preparation (1120-S) in Manassas, VA
S-Corp returns are more involved than typical business filings. They require coordination between your books, payroll records, shareholder K-1s, and often your personal return. When these pieces don't tie together, problems follow—delayed filings, incorrect K-1s, or IRS scrutiny on reasonable compensation.
We prepare Form 1120-S returns for S-Corps across Manassas, Gainesville, Haymarket, and the greater Northern Virginia and DC area. Our process is built to catch issues before they become problems.
Book a Tax Fit CallWhat's Included in Our S-Corp Filing Service
S-Corp preparation isn't just about filling out Form 1120-S. It's about making sure everything ties together—books, payroll, K-1s, and shareholder records.
Why S-Corp Returns Need a Different Approach
S-Corps have more moving parts than sole proprietorships or even partnerships. Here's why process matters:
What We Need From You (So Prep Doesn't Drag Out)
The faster we get complete documents, the faster we can prepare your return and deliver K-1s. Here's what we typically need:
Don't worry if you're not sure about some of these—we send a tailored checklist after your Tax Fit Call and help you gather what's needed.
Our 4-Step S-Corp Tax Filing Process
Tax Fit Call
We review your S-Corp structure, shareholder count, and payroll setup. If books need cleanup, we identify that here.
Document Collection
Upload financials, payroll records, and prior returns to our secure portal. We send a tailored checklist.
Preparation & Tie-Out
We prepare Form 1120-S, reconcile to payroll, generate K-1s, and schedule a walkthrough to review.
E-File & Distribute K-1s
Once approved, we e-file federal and state returns and deliver K-1s to shareholders.
If Your Books Aren't Tax-Ready, We Handle That First
S-Corp returns depend on accurate financials. If your books aren't reconciled, categorized, and closed for the year, we can't prepare an accurate return—and neither can anyone else.
Here's how we handle it: We get your books tax-ready first. Only then does the return preparation timeline start. This ensures your 1120-S is accurate, your K-1s tie to reality, and your reasonable compensation is properly documented.
If you need ongoing bookkeeping support to avoid this crunch next year, we offer that too.
Need to File Your S-Corp Return?
A 15-minute Tax Fit Call is all it takes to review your S-Corp's situation and set a clear timeline.
Book a Tax Fit CallMulti-State S-Corps
If your S-Corp operates in multiple states—whether due to remote employees, out-of-state clients, or physical locations—you may have filing obligations beyond Virginia.
Multi-state S-Corp filings require proper income apportionment and compliance with each state's rules. We handle Virginia, DC, Maryland, and other states regularly.
Coordinating Your S-Corp Return With Your Personal Return
Your S-Corp's K-1 flows directly into your personal tax return. If you're married and filing jointly, both returns need to be coordinated. We can prepare both your 1120-S and your personal return to ensure everything ties together correctly.
This is especially important if you have other income sources, investment accounts, or complex deductions on the personal side.
Why Clients Choose Hollins & Hur for S-Corp Filing
Tie-Out Focus
We reconcile books, payroll, and K-1s so everything matches—no surprises later.
Timely K-1 Delivery
We prioritize getting K-1s to shareholders so personal returns aren't held up.
Reasonable Comp Documentation
We document your salary rationale so it's defensible if the IRS asks.
Entity + Personal Coordination
We can prepare your 1120-S and your personal return together for seamless coordination.
Remote-Friendly
Everything is handled online—no office visit required. We work with clients across Northern VA and beyond.
Licensed Professionals
CPAs and Enrolled Agents prepare your return—not seasonal staff.
FAQs About S-Corp Tax Returns (1120-S)
What is Form 1120-S?
Form 1120-S is the annual tax return filed by S corporations. It reports the company's income, deductions, and credits, and generates K-1s for each shareholder showing their share of income. The S-Corp itself doesn't pay income tax—it 'passes through' to shareholders.
Do S-Corp shareholders pay self-employment tax on their share of profits?
No—and this is one of the main benefits of S-Corp status. Shareholders who work in the business pay payroll taxes on their salary, but their share of S-Corp profits (distributions) is not subject to self-employment tax.
What is a 'reasonable salary' and how do you determine it?
The IRS requires S-Corp owners who work in the business to pay themselves a salary that's reasonable for their role, industry, experience, and hours worked. We help you determine an appropriate salary based on comparable market data that's defensible if questioned.
When is Form 1120-S due?
For calendar-year S-Corps, Form 1120-S is due March 15. If you need more time, we can file an extension (Form 7004) to move the deadline to September 15. K-1s should be issued to shareholders by the same deadline.
What happens if K-1s are late?
Late K-1s can cause problems for shareholders who need them to file their personal returns. If K-1s are delayed, shareholders may need to file personal extensions. We prioritize timely K-1 delivery to avoid this issue.
Can you help if my S-Corp has multiple shareholders?
Yes. We prepare returns for S-Corps with multiple shareholders, including proper allocation of income, deductions, and credits. We generate K-1s for each shareholder and can coordinate with their individual accountants if needed.
What if I took distributions but didn't take a salary?
This is a compliance risk. The IRS expects S-Corp owners who work in the business to take a reasonable salary before distributions. If you haven't done this, we'll discuss options for getting compliant going forward.
Ready to File Your S-Corp Return?
Book a free 15-minute Tax Fit Call. We'll review your S-Corp's structure, confirm what's needed, and set a clear timeline for your 1120-S and K-1s.
Book a Tax Fit Call