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Information about Form 973, Corporation Claim for Deduction for Consent Dividends, including recent updates, related forms and instructions on how to file. Form 973 is used by corporations claiming a consent dividends deduction (accompanied by Form 972 consents by the shareholders) with their income tax returns.

The Inflation Reduction Act of 2022 established a stock repurchase excise tax under section 4501 equal to 1% of the fair market value (FMV) of stock repurchased during the tax year by certain publicly traded corporations or their specified affiliates, effective for repurchases occurring after 2022. Use Form 7208, Excise Tax on Repurchase of Corporate Stock, to figure the excise tax on stock repurchases.

Political Organization Filing Requirements: Form 1120-POL Reporting by Organization that Did not Report Required Items on Form 8871

Use Schedule B (Form 1120), Additional Information for Schedule M-3 Filers, to provide answers to additional questions for filers of Schedule M-3 (Form 1120).

Use Schedule P (Form 1120-FSC), Transfer Price or Commission, to figure an allowable transfer price to charge the FSC or an allowable commission to pay to the FSC under the administrative pricing rules.

Form 1120 (Schedule UTP), Uncertain Tax Position Statement, asks for information about tax positions that affect the U.S. federal income tax liabilities of certain corporations that issue or are included in audited financial statements and have assets that equal or exceed $10 million.

A corporation that is a component member of a controlled group must use Form 1120 (Schedule O), Consent Plan and Apportionment Schedule for a Controlled Group, to report the apportionment of certain tax benefits between all component members of the group.

Use Schedule P (Form 1120-IC-DISC), Intercompany Transfer Price or Commission Schedule P, to show the computation of taxable income used in computing (1) the transfer price from a related supplier to an IC-DISC (Part II), or (2) the IC-DISC commission from a related supplier (Part III).

Schedule K (Form 1120-IC-DISC), Shareholder's Statement of IC-DISC Distributions - Copy B of Schedule K (Form 1120-IC-DISC) reports an actual or deemed distribution from an IC-DISC, former IC-DISC, or former DISC. It also reports deferred DISC income from an IC-DISC.

Reporting amounts from Schedule K-1 (Form 1120-S), box 13, code H, on Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations.