Accurate, CPA-prepared federal corporate income tax returns for U.S. C corporations, reconciled to financial statements, supported by audit-ready documentation, and filed without exposure to missed disclosures or avoidable penalties.
TYM Business Consulting provides Form 1120 corporate tax preparation for C corporations across the United States, with particular experience in foreign-owned corporations, multi-state operations, and complex book-to-tax reconciliation.
Form 1120 is the U.S. federal income tax return for C corporations. It establishes the corporation's federal tax liability, determines taxable income, and drives estimated tax payment obligations for the following year.
For corporations with multi-state operations, related-party transactions, depreciation differences, deferred compensation, or foreign ownership, the gap between book income and taxable income can be material — and must be properly documented. Permanent and temporary book-to-tax differences must be identified, quantified, and disclosed through Schedule M-1 or Schedule M-3.
Errors in Form 1120 are not merely technical. They create direct IRS exposure, including penalties, audit triggers, and positions that may be difficult to defend under examination.
TYM prepares Form 1120 from a documented book-to-tax reconciliation, starting with the year-end close package and building a return support file that ties each figure in the return back to the underlying financial records. The result is a return that is internally consistent, defensible, and audit-ready.
The IRS targets returns with gaps, inconsistencies, or missing required disclosures. A return without documented book-to-tax reconciliation is not just inaccurate — it is a liability.
From early-stage companies earning first revenue to established businesses with multi-year tax histories.
Corporations with 25% or greater foreign ownership, where Form 5472 filing may be required.
Entities with intercompany transactions, management fees, and cost allocations requiring documented reconciliation.
Companies where federal taxable income serves as the starting point for state filings across multiple jurisdictions.
Entities requiring Form 5471, Subpart F, GILTI, and foreign tax credit analysis.
Businesses completing or integrating acquisitions where purchase price allocations or Section 338 elections affect the current-year return.
Entities where prior-year returns require amended filings and a structured correction process.
Corporations with tax attribute carryforwards where Section 382 limitations may need to be analyzed.
Built on documented reconciliation, verified disclosures, and audit-ready support.
Review of trial balance, financial statements, and general ledger. Issues are identified before tax preparation begins — not discovered during filing.
Identification and documentation of all permanent and temporary differences that form the basis for Schedule M-1 or M-3, so the return ties to the financials.
Preparation of tax depreciation schedules under MACRS, including Section 179 and bonus depreciation, while maintaining consistency with the fixed asset records.
Complete Form 1120 with all required schedules and disclosures, including foreign reporting forms where applicable (5471, 5472, 8992, 1118).
Tracking of NOLs, capital losses, and credits across years to preserve tax benefits and support carryforward claims under examination.
Calculation of next year's estimated tax payments to reduce underpayment risk, incorporating prior-year safe harbor options where applicable.
A full documentation package that ties the return to the underlying records and supports future IRS review or correspondence.
A Miami-based technology company with a 40% foreign shareholder filed Form 1120 for three consecutive years without filing Form 5472, despite reportable related-party transactions with the foreign parent.
When the IRS issued a notice requesting the missing forms, the corporation faced automatic penalties of $25,000 per year — a total exposure of $75,000.
TYM prepared the delinquent Form 5472 filings, built transaction schedules tied to general ledger detail, submitted reasonable cause explanations, and coordinated the penalty abatement process.
This was not a complex tax issue. It was a missed disclosure obligation with a significant cost. The exposure existed from the first year of non-filing — not from the date the IRS sent the notice.
Form 5472 non-filing carries a $25,000 automatic penalty. Form 5471 non-filing carries $10,000 per CFC. Confirm required disclosures are filed before the Form 1120 deadline.
Assess Foreign Disclosure RequirementsTYM reviews the prior-year return, identifies the entity structure, ownership, and any open IRS correspondence. Filing obligations and required schedules are confirmed before work begins.
A tailored document checklist is issued. TYM collects the trial balance, financial statements, fixed asset schedule, officer compensation detail, and any foreign entity information.
All permanent and temporary differences are identified and documented. Schedule M-1 or M-3 is prepared and tied to the general ledger. Depreciation schedules are built under MACRS.
The return and all supporting schedules are reviewed by a CPA before client delivery. Disclosures, carryforward positions, and foreign forms are verified for completeness.
The complete return package is delivered for client review. Questions are addressed, and any final adjustments are incorporated before filing authorization is obtained.
The return is filed electronically. The complete return support file — including all schedules, reconciliations, and documentation — is delivered to the client.
Federal corporate tax return fees depend on the confirmed scope of the engagement, including entity complexity, ownership structure, foreign components, multi-state activity, fixed asset volume, and the condition of the year-end close package.
Typical Form 1120 engagements start at $2,500 for straightforward domestic C corporations with clean year-end financials and no foreign components. A single entity domestic corporation with a clean close is materially different from a corporation with foreign subsidiaries, a foreign parent requiring Form 5472 disclosure, multi-state activity, and NOL carryforwards requiring Section 382 analysis.
TYM structures fees based on confirmed scope after the initial filing assessment — not on a generic flat fee.
TYM Business Consulting is a corporate tax CPA firm based in Miami, Florida, providing practitioner-led federal corporate tax preparation services for domestic C corporations.
TYM serves businesses in Miami, Coral Gables, Brickell, Aventura, and throughout the Greater Miami area, with particular experience supporting foreign-owned U.S. corporations and Latin American parent structures common in Miami's international business community.
TYM is an IRS Certified Acceptance Agent and serves businesses across South Florida and nationally, including corporations with foreign shareholders or ownership structures that require both federal compliance expertise and cross-border tax awareness.
Many Miami-based clients operate in technology, real estate, professional services, e-commerce, and international trade. These businesses often involve foreign equity participants, Latin American or European parent entities, or multi-state revenue streams — situations where the federal return requires more than basic data entry and where book-to-tax reconciliation must be carefully documented.
TYM's corporate tax practice is practitioner-led. Returns are prepared and reviewed by CPAs working directly on client files, not managed through a volume processing model.
Corporate tax return complexity depends on entity structure, ownership, operating footprint, and the condition of the financial records. The right starting point is a review of your specific situation — not a generic fee estimate.
TYM conducts an initial corporate tax assessment to confirm filing obligations, identify required schedules and disclosure forms, evaluate the year-end close package, and establish scope before preparation begins.
If you are filing Form 1120 without documented book-to-tax reconciliation, organized return support files, or confirmed foreign disclosure compliance, your return may create examination exposure.
Full overview of federal tax compliance services for corporations, individuals, and foreign-owned entities operating in the United States.
For shareholders, officers, and owner-managers whose personal returns reflect corporate distributions, compensation, and equity events.
For corporations where the year-end close package requires preparation or review before corporate return preparation can begin.
For corporations requiring ongoing financial leadership, tax planning integration, and estimated tax coordination as part of a broader financial management engagement.
For corporations that have received IRS notices, penalty assessments, or compliance letters related to Form 1120 or associated information returns.
For corporations with multi-state activity that triggers sales tax registration, nexus evaluation, or voluntary disclosure obligations alongside federal filing.
Disclaimer: The content on this page is for informational purposes only and does not constitute professional tax or legal advice. Tax obligations depend on individual facts and circumstances, including entity structure, ownership, jurisdiction, and applicable tax law. Tax laws, rates, and filing requirements change periodically; confirm current obligations with a licensed CPA or tax attorney before acting on any information presented here.