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As an IRS Authorized Signer, you are stating that you are a person or principal who can legally bind the entity. You are authorized to sign and act in tax matters on behalf of the business identified on your application.
The return of a corporation with respect to income shall be signed by the president, vice-president, treasurer, assistant treasurer, chief accounting officer or any other officer duly authorized so to act.
If the corporations total receipts for the tax year AND total assets at the end of the tax year less than $250,000, Schedules L and M-1 are not required.
Unless exempt under section 501, all domestic corporations (including corporations in bankruptcy) must file an income tax return whether or not they have taxable income. Domestic corporations must file Form 1120, unless they are required, or elect to file a special return.
Providers and Large Taxpayers authorized to participate in the Internal Revenue Service e-file program can file Forms 1120 (U.S. Corporation Income Tax Return), 1120-F (U.S. Income Tax Return of a Foreign Corporation), and 1120-S (U.S. Income Tax Return for an S Corporation) through Modernized e-File.
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If you are an administrator, conservator, designee, executor, guardian, receiver, trustee of a trust, personal representative, or other person acting in a fiduciary capacity for another person, you are authorized to sign a tax return for the other person upon notice to the IRS of your authority.
How do you fill out a Schedule L balance sheet? List business assets - In Part I, enter cash, accounts receivable, investments, buildings, equipment, and other assets. Report business liabilities - In Part I, include accounts payable, mortgages/notes payable, and other debts owed.