Form 1120-W – Calculating and Paying Estimated Corporate Income Taxes
Form 1120 – Corporation Estimated Tax Payments
Generally, corporations must make quarterly estimated tax payments if they expect to owe $500 or more in taxes.
- Failure to pay on time may result in penalties and interest.
- If the corporation overpays estimated tax, file Form 4466 to request a refund.
To set up estimated tax payments:
- From within your return, click Federal (on smaller devices, click in the top left corner of your screen, then click Federal).
- Click the Miscellaneous tab.
- Beside 2025 estimated tax payments, click Review.
- For the question Do you wish to compute the 2025 federal estimated tax and the 2025 required payments for the corporation?, select Yes.
- Choose the calculation option that you want to use, then click Continue.
- Use worksheet calculation
- Pay 100% of the 2024 tax liability
- Continue with the interview process until you reach the screen titled Federal 2025 Estimated Tax – Quarterly Payments. This screen will show the due date for each payment, and the amount you need to pay.
- On the screen Federal 2025 Estimated Tax – Print 1120-W screen, check the box to print Form 1120-W for record keeping purposes (optional) and click Continue.
- Once you have completed that section of the Q&A, you can set up payments through EFTPS.
Form 1120-S – S Corporation Estimated Tax Payments
S corporations generally pass income through to shareholders. Estimated payments may be required if the total of the following taxes is $500 or more:
- Built-in Gains Tax
- Excess Net Passive Income Tax
- Investment Credit Recapture Tax
To calculate estimated tax payments:
- From within your return, click Federal (on smaller devices, click in the top left corner of your screen, then click Federal).
- Click the Miscellaneous tab.
- Beside 2025 estimated tax payments, click Review.
- Choose the calculation option that you want to use, then click Continue.
- Use worksheet calculation
- Pay 100% of the 2024 tax liability
- Continue with the interview process until you reach the screen titled Federal 2025 Estimated Tax – Quarterly Payments. This screen will show the due date for each payment, and the amount you need to pay.
- On the screen Federal 2025 Estimated Tax – Print 1120-W screen, check the box to print Form 1120-W for record keeping purposes (optional) and click Continue.
- Once you have completed that section of the Q&A, you can set up payments through EFTPS.
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