Form 1120-W - Calculating and Paying Estimated Corporate Income Taxes

If your corporation follows a calendar year, your estimated corporate tax payments are due April 15, June 15, September 15, and December 15. If the date falls on a Saturday, Sunday, or legal holiday, payment is due the next business day. Pay your estimated taxes online for free through the IRS EFTPS: The Electronic Federal Tax Payment System webpage, or arrange for payment through a financial institution, payroll service, or other trusted third party.  You can check the due dates and estimated tax due on Form 1120-W Estimated Tax for Corporations.

If you have completed your tax return, and you are using the Desktop program, locate your estimated tax due in TaxAct® by following these steps:

  1. From within your TaxAct Business 1120 Desktop return, click Forms to view Forms Explorer.
  2. Click the Forms and Schedules dropdown, click Form 1120-W, and it will appear in Forms View.
  3. Scroll down to the 2023 Estimated Tax Payment Information section for the due date and estimated tax due.

If you have not completed your tax return, or if you prefer the Q&A method, calculate your estimated tax due by following these steps:

  1. From within your TaxAct Business 1120 return (Online or Desktop), click Federal (on smaller devices, click in the top left corner of your screen, then click Federal).
  2. Click 2023 Estimated Tax Payments, then answer the questions to calculate your estimated tax due.

See the IRS Instructions for Form 1120-W for additional information about making estimated tax payments.

Note. If you are an S corporation expecting to owe federal tax of $500 or more on your 1120-S return, you may be required to make estimated tax payments. S corporations traditionally do not pay income tax. However, if you are a pass-through entity, you may be required to pay tax on LIFO (Last In First Out) recapture, capital gains, or built-in gains. For more information, see IRS Instructions for Form 1120-S.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.