1120s fiscal yr which form yr

[grandmabee]

new client. last year filed 1120s for short tax year 07/01/07--09/30/07 on the 2007 form

this year 10/01/07 thru 09/30/08 filed on 1120s 2008 but error comes up and when I double check instruction it says to file on the 2007 tax form. Will that be a problem with two 2007 forms filed. I thought you filed on the form which the end of the month falls on. ending 09/30/08 file on 2008. Any help please

[Margaret CPA in OH]

It appears as though the client has a fiscal year end. The short year is correct and you probably put the dates at the top of the form since it was a fiscal ye. Since the next fiscal year began in 2007, it is also a 2007 return and would be for a full year with the correct dates at the top.

[Bart]

I thought you filed on the form which the end of the month falls on. ending 09/30/08 file on 2008. Any help please

The determining factor is the year the first day of the tax year falls in, not the last day. You would file another 2007 return.

[ed_accountant]

Are you also filing the required form 8752, Required Payment or Refund under Section 7519?

Fiscal Year S-Corps are not so common. The IRS requires form 8752 for fiscal year S-Corps, since the year end is not a calendar year.

Bart is correct. File a second return using the 2007 income tax return. You can duplicate/copy the return in your system and changes the dates....