Short Period Returns

A short period return must be filed by a subsidiary corporation when it becomes affiliated with a consolidated group (parent corporation). This step allows the subsidiary corporation to file an initial consolidated return with the parent corporation. Income not included in the consolidated return by a corporation, because it was not in the group for the complete taxable year, must be reported on a separate return. The due date of the return is decided by using the earlier of the due date of the original tax period of the parent corporation, or the due date of the original tax period of the subsidiary corporation. Do not confuse the original tax period with the short period.

Research of the parent corporation accounts may be required to decide the due date.

Review any short period Form 1120 to make sure the return was processed with the correct period information.

Change in Accounting Period.

An approved accounting period change for a Form 1120 can be identified on ENMOD by a TC 053 or a TC 054.

For tax years beginning January 2016 through December 2025, the Form 1120 due date is the 15th day of the 4th month after the end of the tax year.