Form 1120-IC-DISC (Rev December 2012) Interest Charge Domestic International Sales Corporation Retur: Fill out & sign online

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

The best way to modify Form 1120-IC-DISC (Rev December 2012) Interest Charge Domestic International Sales Corporation Retur online

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

With DocHub, making adjustments to your paperwork takes just a few simple clicks. Make these quick steps to modify the PDF Form 1120-IC-DISC (Rev December 2012) Interest Charge Domestic International Sales Corporation Retur online for free:

Sign up and log in to your account. Log in to the editor with your credentials or click on Create free account to evaluate the tool’s features.
Add the Form 1120-IC-DISC (Rev December 2012) Interest Charge Domestic International Sales Corporation Retur for redacting. Click on the New Document option above, then drag and drop the document to the upload area, import it from the cloud, or via a link.
Alter your file. Make any adjustments required: insert text and images to your Form 1120-IC-DISC (Rev December 2012) Interest Charge Domestic International Sales Corporation Retur, highlight information that matters, erase sections of content and replace them with new ones, and insert symbols, checkmarks, and fields for filling out.
Finish redacting the form. Save the modified document on your device, export it to the cloud, print it right from the editor, or share it with all the parties involved.

Our editor is super intuitive and efficient. Try it now!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Contact us

What is the purpose of an IC disc?

IC-DISCs are tax-exempt corporate entities that act as sales commission agents for export businesses. IC-DISCs dont have to have employees, office space, provide any services or participate in sales; they are created solely to give exporters a mechanism to legally reduce federal tax liabilities.

How are dividends taxed in C Corp?

C corporations pay tax on their annual earnings and then if the earnings are distributed to shareholders as dividends, the earnings are taxed again at the shareholder level. Corporations are not able to deduct amounts paid as dividends to shareholders.

Where do I report dividends paid on 1120?

The total from Schedule C, Line 23, column A, is carried to Form 1120, line 4 (Dividends), and the total from Schedule C, line 24, column C, is carried to Form 1120, line 29b (Special deductions).

What is a disc related deferred tax liability?

DISC Deferred Tax Liability A shareholders IC-DISC-related deferred tax liability is measured by the difference between its actual tax liability for the year and a hypothetical tax based on an inclusion of deferred income in the shareholders income for the year.

Where do you put dividends on 1120s?

Interest and dividends that are considered portfolio income are entered on the K screen, lines 4, 5a, and 5b. Note: Lines 4, 5a, and 5b on screen K are adjustment lines and will adjust entries flowing from other screens.

Related forms

be ready to get more