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Tax Return, Corporate (IRS Form 1120, IRS Form 1120s)

Corporate tax returns may be requested for income verification when a customer is self-employed and the business is a corporation or Subchapter S corporation. Along with the customer’s personal tax returns (1040s), IRS Form 1120 are requested for corporations and IRS Form 1120S and schedule K-1 are requested for S corporations.

If utilizing income from Corporation (1120):
If the borrower needs additional income from the corporation to qualify, the underwriter must verify the following:

  • Borrower has the legal right to withdraw income from the corporation, per corporate resolution or comparable document.
  • Withdrawal of additional income will not impact the business operations, based on careful analysis of the corporate financial statements.
  • The business has positive sales and earnings trends.

Avoid delays in processing your application

For all documents you’re asked to provide:

  • Make sure the copies you send are legible.
  • Do not include documents that have been altered with correction fluid or by other means.
  • Submit the entire requested document and include all pages (even blank ones).

For this document

  • Provide signed returns.
  • Include all applicable schedules.