The Form 1120S Income Tax Return is due March 15, 2018. The K-1 that is generated from the S-corporation will be reported on your personal return. The IRS requires S-corporations to file a return using form 1120S each year regardless if the S-Corporation has any activity. The IRS will be looking for the S-corporation return to be filed for 2017. So you can use the start date of the date you incorporate or when you began buying inventory. To learn more on Starting a Business from the IRS please see Starting A Business. However, the IRS also states that the process of beginning the business such as buying necessary operating assets, inventory, 'setting up shop' can also be a sign that a business has begun. Mere organizational activities, such as the obtaining of the corporate charter, are not alone sufficient to show the beginning of business. Ordinarily, a corporation begins business when it starts the business operations for which it was organized. The IRS has a sort-of definitive answer about when a business begins, and it can vary.
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