| Publication Number: 542 |
| Corporations |
| Important Change
for 2001 |
| Paid preparer authorization. |
| A corporation can allow the IRS to discuss its 2001 tax return with the paid preparer who signed it by checking the "Yes" box in the signature area of the return. This authorizes the IRS to call the paid preparer to ask any questions that may arise during the processing of the return. The corporation is also authorizing the paid preparer to perform certain actions. See the instructions for Form 1120 or 1120–A. |
| Important Reminders |
| Photographs of missing children. |
| The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. You can help bring these children home by looking at the photographs and calling 1–800–THE–LOST (1–800–843–5678) if you recognize a child. |
| Accounting methods. |
| Certain small business taxpayers may be eligible to adopt or change to the cash method of accounting and may not be required to account for inventories. For more information, including the definition of a small business taxpayer, see Publication 538. |
| Introduction
|
| This publication discusses the general tax laws that apply to ordinary domestic corporations. It explains the tax law in plain language so it will be easier to understand. However, the information given does not cover every situation and is not intended to replace the law or change its meaning. |
| Some corporations may meet the qualifications for electing to be S corporations. For information on S corporations, see the instructions for Form 1120S, U.S. Income Tax Return for an S Corporation. |
 Comments 
Suggestions
| Comments and suggestions. |
| We welcome your comments about this publication and your suggestions for future editions. |
| You can e-mail us while visiting our web site at www.irs.gov. |
| You can write to us at the following address:
Internal Revenue Service
Technical Publications Branch
W:CAR:MP:FP:P
1111 Constitution Ave. NW
Washington, DC 20224
|
| We respond to many letters by telephone. Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. |
|
Useful items |
| Publication 535: Business Expenses
538: Accounting Periods and Methods
544: Sales and Other Dispositions of Assets
925: Passive Activity and At-Risk Rules
|
| Form (and Instructions)
1096
Annual Summary and Transmittal of U.S. Information Returns
1099–DIV
Dividends and Distributions
1120
U.S. Corporation Income Tax
Return
1120–A
U.S. Corporation Short-Form Income Tax Return
1120–W
(WORKSHEET) Estimated Tax for Corporations
1120X
Amended U.S. Corporation
Income Tax Return
1138
Extension of Time for Payment of Taxes by a Corporation Expecting a Net Operating Loss Carryback
1139
Corporation Application for
Tentative Refund
2220
Underpayment of Estimated Tax by Corporations
3800
General Business Credit
4466
Corporation Application for Quick Refund of Overpayment of
Estimated Tax
4562
Depreciation and Amortization
4626
Alternative Minimum Tax—Corporations
5452
Corporate Report of Nondividend Distributions
7004
Application for Automatic
Extension of Time To File
Corporation Income Tax Return
8109
Federal Tax Deposit Coupon
8582–CR
Passive Activity Credit
Limitations
8832
Entity Classification Election
|
| See How To Get Tax Help near the end of this publication for information about getting publications and forms. |
to find additional instances of index items.