Is there a Form 1120-V?

[NotEasy]

Which form are we supposed to use to mail in the payment for the balance due of an e-filed Form 1120? We use Form 1040-V for the balance due of an e-filed Form 1040 but I can't find a Form 1120-V there.

[Maribeth]

Which form are we supposed to use to mail in the payment for the balance due of an e-filed Form 1120? We use Form 1040-V for the balance due of an e-filed Form 1040 but I can't find a Form 1120-V there.

I believe the only two methods you have available for making an 1120 payment is using Form 8109, the federal tax deposit coupon, or using EFTPS.

Maribeth

[fliszt]

I just did a quick

check in IRS.gov forms and you're correct there is no "V" form. I tell my clients to make their check out to US Treasury and put their EIN/200X 1120 in memo secton and paper clip it to the return and mail it in the old days. Now I efile all returns and do a auto withdrawal from their account.
Larry

[NotEasy]

I believe the only two methods you have available for making an 1120 payment is using Form 8109, the federal tax deposit coupon, or using EFTPS.

Maribeth

Form 8109 is a good idea. But how can the IRS determine which year the payment is for? A payment made today (May 2009) which is intended for a year 2008 Form 1120 would possibly be considered a year 2009 ES payment.

Or is there a way that the taxpayer can specify the year that a Form 8109 payment is for?

[Maribeth]

Form 8109 is a good idea. But how can the IRS determine which year the payment is for? A payment made today (May 2009) which is intended for a year 2008 Form 1120 would possibly be considered a year 2009 ES payment.

Or is there a way that the taxpayer can specify the year that a Form 8109 payment is for?

From the instructions for Form 8109:

Income Taxes (Form 1120, 990-T, and 2438). To make an estimated tax deposit for any quarter of the current tax year, darken only the 1st quarter space.

Example 1. If your tax year ends on December 31, 2007, and a deposit for 2007 is being made between January 1 and December 31, 2007, darken the 1st quarter space.

Example 2. If your tax year ends on June 30, 2007, and a deposit for that fiscal year is being made between July 1, 2006, and June 30, 2007, darken the 1st quarter space.

To make a deposit for the prior tax year, darken only the 4th quarter space. This includes:

- Deposits of balance due shown on the return (Forms 1120, 990-T, and 990-PF).

- Deposits of balance due shown on Form 7004, Application for Automatic 6-Month Extension of Time To File Certain Business Income Tax, Information, and Other Returns (be sure to darken the 1120 or 1042 space as appropriate).

- Deposits of balance due (Forms 990-T and 990-PF filers) shown on Form 8868, Application for Extension of Time To File an Exempt Organization Return (be sure to darken the 990-T or 990-PF space as appropriate).

- Deposits of tax due shown on Form 2438, Undistributed Capital Gains Tax Return (darken the 1120 space).

Example 1. If your tax year ends on December 31, 2006, and a deposit for 2006 is being made after that date, darken the 4th quarter space.

Maribeth