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Identify the Entities from Whom You Received Income Form

Identify the Entities from Whom You Received Income Form

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hey guys ep2 the attorneys-at-law vgd business law and so right here we're going to talk about the tax forms so when you hear accountants go back and forth they will actually refer to a company by the form that is filed for its taxes at the end of the year so for example in 1120 they'll talk about an 1120 well it's actually IRS tax form 1120 and that is the form that a corporation or a company being taxed as a corporation we file with the federal government mind you an LLC can actually elect to be taxed as a corporation the default for a corporation is to be taxed as a corporation we also call it AC Corp as opposed to an S Corp and so the S Corp form just so you know is 11 20s the partnership form which is typically an LLC with more than one owner is 1065 and then actually in a single-member LLC that's disregarded would just be a schedule k-1 and so these are these are things that we use the tax form numbers so when you hear people talk about 1120 it mea

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