Tax return | accounitng | accounting

  Requirements for Tax Return Project
You are working as a paid tax preparer for a Portland accounting firm. Your supervisor has asked you to prepare the 2021 Tax Return for ABC Corporation.
The information needed to complete the 2021 Tax Return can be found in TaxReturnProblem.docx
Deliverables

2021      Tax Return. You should upload one PDF or Word file (total of 8 pages) including:

Form       1120 (6 pages including Schedules C, J, K, L, M-1, and M-2)
Form       1125-A Cost of Goods Sold
Form       1125-E Compensation of Officers

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Enter      your 4- digit codes (6789) in Paid Preparer’s block (PTIN) on page 1 Form      1120. You should sign and date the return (penalties for tax preparers are      stiff). You will be penalized if you do not give the Paid Preparer’s PTIN      of 6789.
Due      on Tuesday, February 22nd. The Project should be      submitted on Canvas.

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Comments on IRS Forms
Form 1120 (6 pages)
Use Form 1120, U.S. Corporation Income Tax Return, to report the income, deductions and to figure the income tax liability of a corporation.
Form 1125-A
Use Form 1125-A to calculate and deduct cost of goods sold for certain entities.
Form 1125-E
Certain entities with total receipts of $500,000 or more use Form 1125-E to provide a detailed report of the deduction for compensation of officers.