Tax Return Transcript 01-2345678 1120S YYYYMM COMP 2025

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The document is a sample IRS-issued Tax Return Transcript for a business, specifically Form 1120S, detailing sensitive taxpayer data. It includes information such as the company's EIN, tax period, original return details, and various financial figures related to income, deductions, and taxes. All reported amounts are $0.00, indicating no taxable income or deductions for the specified period.

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Click ‘Get Form’ to open the Tax Return Transcript in the editor.
Begin by entering the Request Date and Response Date in the designated fields. Ensure these dates are accurate for proper record-keeping.
Fill in the EIN Provided field with your business's Employer Identification Number, which is crucial for tax identification.
Complete the Tax Period Requested section by specifying the relevant tax year, ensuring it aligns with your financial records.
Review and input data into sections such as Total Income, Deductions, and Tax Payments. Each field should reflect accurate figures from your financial statements.
Double-check all entries for accuracy before saving or exporting your completed form. This step is vital to avoid any discrepancies.

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

What is 1120s tax return?

Form 1120-S is the annual tax return for businesses that are registered as S corporations. The form is used to report income, gains, losses, credits, deductions, and other information for S corporations.

Will I get my refund with a 570 code?

Once you have signed up for your online account, you can check your tax transcript for updates to your tax return. If you see code 570, that means that there is a delay in processing your return.

What does the processing date on my transcript mean?

While the processing date estimates when the IRS will complete handling a return, the transaction date marks when a specific action, such as a payment or adjustment, is recorded in the IRS system.

What is the income tax form 1120s?

S-corporations are required to disclose their gross income on Form 1120-S. This encompasses all revenue from business activities, including sales, interest, and rental income. Additionally, any other income, such as capital gains and dividends, must be reported.

What do the codes mean on an IRS transcript?

As a tax return is processed, there are transaction codes added to it to indicate changes. These transaction codes are three digits long. They are used to identify a transaction being processed and to maintain a history of actions posted to a taxpayers account on the Master File.

tax return transcript example

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Key Facts About the Tax Return Transcript Form 1120S

Form Type

Sensitive Information

EIN Provided

Tax Period

Total Income and Deductions

Tracking Number

Form Type

The document is a Tax Return Transcript for Form 1120S, which is used by S corporations to report income, deductions, and credits.

Sensitive Information

The transcript contains sensitive taxpayer data, indicating that it should be handled with care to protect privacy.

EIN Provided

The Employer Identification Number (EIN) provided in the document is 01-2345678, which uniquely identifies the business entity.

Tax Period

The tax period requested in this transcript is for December 31 of the specified year (YYYY).

Total Income and Deductions

All financial figures listed in the transcript, including total income and deductions, are reported as $0.00, indicating no taxable activity for the period.

Tracking Number

A unique tracking number (1000000000000) is assigned to this request for reference and tracking purposes.

What is the 971 code on IRS transcript?

The 971 IRS code listed on a tax transcript indicates there will be changes involving their tax return. Either the IRS will conduct an additional review of your tax return or they will request additional information from the taxpayer.

Does code 766 mean Im getting more money?

If you see IRS Code 766 on your tax transcript, it means that you have a credit on your account. This credit may be the result of a refund, an overpayment from a previous year, or a credit from the current years return. In any case, it means that your tax liability has been reduced.

What is code 150 on the IRS transcript 2025?

A Code 150 means that the IRS has processed your tax return and added it to its main file. Your tax liability has been worked out, but you will get a refund if it comes out to be negative.

Tax Return Transcript 01-2345678 1120S YYYYMM COMP 2025

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