Corporate Tax Return Problem

This document provides instructions to complete corporate tax forms for ALC Corporation for the 2015 tax year. It includes key facts such as ALC being incorporated in 2011, located in Dallas, TX, and operating as a retailer of hobby supplies. The document states to complete Form 1120 and 1125-A using the provided information and spreadsheets, and that Forms 4562 and 4797 are not required as ALC did not acquire or dispose of any equipment during the tax year.

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Corporate Tax Return Problem

Uploaded by

Anisa

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Corporate Tax Return Problem

Required:
Complete ALC Corporations 2015 Form 1120 and 1125-A using the information
provided on this sheet and on the excels spreadsheets.
Forms 4562 and 4797 are not required because ALC did not acquire or dispose of any
equipment.
Assume that ALC is not subject to the alternative minimum tax.

Facts:
ALC was created in 2010, and incorporated on July 1, 2011.
It is located at 521 Woodhill Street, Dallas, TX 75235.
ALCs Employer Identification Number is 41-5267743.
ALC is a retailer of hobby supplies and its business activity code is 423920.
ALC uses the accrual method of accounting and has a calendar year end.
ALC made timely estimated federal tax payments of $12,000, every quarter.
ALC is a small corporation, but no shareholder owns more than 18% of the stock directly,
or 50% indirectly.