Form 1120-W at a glance
What it is: Form 1120-W (WORKSHEET) is the Estimated Tax for Corporations, for calendar year 2022 or a tax year beginning in 2022.
Where and when to file: Keep the form for the corporation's records. Do not send it to the Internal Revenue Service.
A filled-in Form 1120-W example: a corporation with no credits figures its installments
How to fill out Form 1120-W, box by box
Lines 1 to 6: the tax on expected taxable income
On line 1, enter the taxable income expected for the tax year.
On line 2, multiply line 1 by 21% (0.21).
On line 3, enter tax credits. See instructions.
On line 4, subtract line 3 from line 2.
On line 5, enter other taxes. See instructions.
On line 6, add lines 4 and 5 for the total tax.
Lines 7 to 10: credit for fuels, the 2021 tax and installment due dates
On line 7, enter the credit for federal tax paid on fuels and other refundable credits. See instructions. On line 8, subtract line 7 from line 6; if the result is less than $500, the corporation is not required to make estimated tax payments (checked November 12, 2026). On line 9a, enter the tax shown on the corporation's 2021 tax return. See instructions. If the tax is zero or the tax year was for less than 12 months, skip this line and enter the amount from line 8 on line 9b. On line 9b, enter the smaller of line 8 or line 9a; if the corporation is required to skip line 9a, enter the amount from line 8. On line 10, enter the installment due dates. See instructions.
Line 11: required installments
On line 11, enter 25% of line 9b in columns (a) through (d). If the corporation uses the annualized income installment method, or adjusted seasonal installment method, or is a "large corporation," see the instructions for the amount to enter.
More rules for Form 1120-W
Schedule A, Part I, Adjusted Seasonal Installment Method: use this method only if the base period percentage for any 6 consecutive months is at least 70%.
Part II is the Annualized Income Installment Method.
Part III Required Installments: complete lines 32 through 38 of one column before completing the next column.
On line 32, if only Part I or Part II is completed, enter the amount in each column from line 19 or line 31. If both parts are completed, enter the smaller of the amounts in each column from line 19 or line 31.
On line 38, enter the smaller of line 34 or line 37 here and on page 1, line 11.
Sources
[1] Form 1120-W (2022), Estimated Tax for Corporations (WORKSHEET), Internal Revenue Service (the Official source link on this page).