Rev. 2023
The instructions provide guidance on completing Form 1120-L, the U.S. corporate income tax return. Topics covered include accounting methods, types of corporations, life insurance reserves, variable annuity contracts, ownership percentages, affiliated groups and parent-subsidiary controlled groups, foreign owners, loss reserves, state domicile, uncertain tax positions, interest and royalty deductions, real property and farming businesses, business interest expense limitation, controlled groups, and corporate alternative minimum tax.
Form 1120-L can be filed electronically through the FIW (Federal International Tax) system or by mailing a paper return to the address listed on the instructions for the form.
Form 1120-L is the U.S. Corporate Income Tax Return for Life Insurance Companies.
Common errors include incorrect calculation of taxable income, failure to report all sources of income, and incorrect reporting of deductions. It is important to carefully review the instructions for the form and consult with a tax professional if needed.
Additional resources include IRS Publication 58, 'Tax on Income of Insurance Companies,' and the IRS website which provides information and forms related to corporate income tax returns.
Form 1120-L requires information about the taxpayer's income, deductions, and taxes paid. It also includes schedules for specific items such as reserves, dividends received, and insurance company taxable income.
Form 1120-L must be filed by domestic life insurance companies and foreign life insurance companies doing business in the United States.
Form 1120-L is due on the 15th day of the 4th month after the end of the taxpayer's tax year.
Form 1120-L is one of Tax forms that are documents used to report information related to taxes to the relevant tax authority. There are various types of tax forms, including federal, state, and local tax forms, which can vary depending on the taxpayer's circumstances and location.
The easiest way to fill Form 1120-L online
Delete filling session
Delete editing session
