S Corp Filing

[Bcash14]

I have a side business, using my S Corp.  I will have zero revenue/income in 2024, do I still need to file a return?  And if so, when is it due?

[tagteam]

Yes, you need to file an 1120-S regardless of whether or not your S corporation has income or expenses.

[tagteam]

S corporations default to calendar year taxpayers and the 1120-S for the 2024 tax year would be due by March 17, 2025.

[Loretta P]

Hello Bcash14, 

Yes S-Corps must file a return each year.  The due date is the 15th day of the 3rd month after the close of the year.  For businesses using a calendar year the deadline is March 15th each year, if the 15th falls on a weekend or holiday the deadline rolls to the next business day.  

If you had no revenue, you may still have expenses such as depreciation that need to be reported.  If you have no revenue or expenses, you should file a zero dollar return to avoid being charged with late filing penalties and interest.  

Helpful links:

Can I File an Income Tax Return If I Don't Have Any Income? 

Instructions for Form 1120-S (2023)