Question

"Frank and Joe Hardy have formed Hardy Investigative Services, (HIS), with each owning 50% of the stock in the company. HIS is organized as an S corporation. Unless receiving an extension, the Form 1120S is due:

A)March 15
B)90 days after the end of their fiscal year
C)April 15
D)January 15"

Answer 1

Form 1120S, the tax form required for an S corporation like Hardy Investigative Services, is due by March 15 of the year following the reported year, making the correct answer A) March 15.

Step-by-step explanation:

The subject of the question is related to the filing of tax forms for an S corporation, specifically the Form 1120S. When a business like Hardy Investigative Services (HIS) is organized as an S corporation, it is required to file Form 1120S. The due date for this form without an extension is March 15 of the year following the year reported.

Therefore, the correct answer is A) March 15. However, if the corporation operates on a fiscal year basis, it will have to file Form 1120S by the 15th day of the third month after the end of its fiscal year.The due date for the Form 1120S for Hardy Investigative Services (HIS), an S corporation, will depend on their fiscal year end.

If their fiscal year ends on December 31st, the Form 1120S is due by March 15th. However, if they request an extension, it can be due by September 15th. So, the correct answer is A) March 15th.