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Running a C-Corp in the U.S.? Then you’re required to file Form 1120, even if your startup didn’t make a profit. This form reports your corporation’s income, deductions, and taxes owed. Missing the filing deadline can lead to hefty IRS penalties.
Whether you’re pre-revenue or post-raise, here’s everything you need to know about filing Form 1120, meeting IRS deadlines, and staying compliant as a startup founder.
Every U.S. C-Corporation must file Form 1120.
This includes both domestic and foreign founders who’ve incorporated their business as a C-Corp, especially those set up in Delaware.
Filing is required regardless of your revenue. Even if your company didn’t generate income this year, you still need to file Form 1120 to avoid late penalties.
Form 1120 is the U.S. Corporation Income Tax Return. It reports your startup’s:
If you’ve made tax payments or had backup withholding, you’ll also report those amounts on the form.
You’ll need supporting documentation like your profit and loss statement, balance sheet, and payroll records to complete the form accurately.
Form 1120 must be filed electronically through an authorized IRS e-file provider. Lazo can handle this filing for you, or you can work with a tax professional who understands startup financials.
Here’s what you’ll need:
If you had no activity, you may still need to file a zero return.
The deadline to file Form 1120 is April 15 each year for calendar-year C-Corps.
If you need more time, you can file Form 7004 to request an automatic 6-month extension, pushing the due date to October 15. However, this only gives you more time to file, not to pay — any taxes owed are still due by April 15.
Even if your startup didn’t earn revenue, not filing can still trigger penalties. The IRS doesn’t waive them just because you're pre-revenue.
Here’s what can happen:
These penalties can stack up quickly, especially if you're unaware that your C-Corp must file even during inactive periods.
We've seen many first-time C-Corp owners make costly mistakes.
Here are a few to avoid:
→ All C-Corps must file, even with zero revenue.
→ You can request Form 7004 to avoid late filing penalties, but it must be submitted on time.
→ If your books aren’t up to date, your numbers may be wrong, or the filing might be delayed.
→ Some founder expenses (like personal meals or travel) may not be deductible.
→ You might be eligible to carry losses forward, but only if reported correctly.
Yes, but it’s strongly recommended to work with a tax professional or firm like Lazo, especially if your startup has investors, multi-state operations, or international ownership.
You’ll face penalties and interest, even if no tax is owed. The longer you wait, the worse it gets.
Yes, in most states where your C-Corp is registered or doing business. These are separate from your federal filing.
Yes, but you still need to file Form 1120 to stay compliant.
Absolutely! We handle filings for U.S. and international founders with C-Corps. Book a free consultation to get started.
Filing Form 1120 isn’t just about checking a box — it’s about keeping your startup compliant, protecting your corporate status, and avoiding unnecessary penalties.
Whether you're pre-revenue, post-raise, or somewhere in between, Lazo can help you file on time, claim available deductions, and set up smart tax processes for the year ahead.
👉 Schedule a free consultation to file your Form 1120 and avoid costly mistakes.
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