Form 1120-POL, US Income Tax Return for Certain Political Organizations, is an IRS form filed yearly by political organizations and certain tax-exempt organizations. Typically, those who file Form 1120-POL are political organizations with taxable income remaining after taking the $100 special deduction for the taxable year. Form 1120-POL is usually filed along with Schedule D and may require additional attachments and schedules as is applicable to the organization filing.
Form 1120-POL should be filed the 15th day of the fourth month following the organization's tax year end date. For organizations that follow a calendar tax year (January 1 through December 31), this deadline is April 15 each year. Failing to file Form 1120-POL when required or filing late can result in incurring penalties from the IRS. Organizations that fail to file are required to pay an additional fine equal to 5% of the tax due for each month the return is late, with a maximum of 25% of the total tax due. Form 1120-POL returns that are filed more than 60 days late will pay the remaining tax due or $135, whichever is smaller.
If you're filing more than 250 1120-POL Forms as part of one return, the IRS requires you e-file your forms. But even if you only have one form to file, it's actually more beneficial to file Form 1120-POL online rather than paper. E-filing is a faster and more secure process than paper filing since your form can be filled out and submitted directly to the IRS within minutes.
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If you run into any issues or have questions when you're e-filing Form 1120-POL, you can contact our friendly, US-based support team for help! We're available by phone, live chat, and email to assist you with anything you need to e-file Form 1120-POL.
To file Form 1120-POL online, you'll need a bit of information on the organization for which you're filing the return. You'll need basic filing information including the organization's name, EIN, and address. You'll also be required to supply detailed information regarding the income, deductions, and taxes applicable to the organization in order to file Form 1120-POL online. Form 1120-POL must also be signed by an officer of the organization before e-filing it with the IRS.
The process to e-file Form 1120-POL with file1120polonline.com is a very simple one! You can complete and e-file your 1120-POL Form in 5 easy steps:
Enter your email address, password, and some basic identifying information to create your free account with file1120polonline.com. From here, you can login to get started filing.
Here, you'll enter your basic organization information needed to file Form 1120-POL. This information includes your organization name, EIN, and address. This information must match what's on the IRS's records.
From your Dashboard, select the Start New Form option. Then, click Form 1120-POL to begin entering information to e-file your Form 1120-POL.
Rather than fill out your form line by line, complete our simplified, interview-style process to enter information and complete your Form 1120-POL. Once you've finished, you can review your form to ensure everything looks correct.
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