C-Corp Tax Preparation Chicago, IL | Form 1120 Filing & Tax Planning
Strategic Corporate Tax Filing with Full Federal & Illinois Compliance
C-Corporations operate under a complex tax structure that requires precision, planning, and ongoing compliance. At Heard & Associates LLC, we provide comprehensive C-Corp tax preparation services in Chicago, including federal Form 1120 filing, Illinois corporate income tax compliance, and advanced corporate tax planning.
Whether your corporation is newly formed, multi-state, or preparing for growth, we ensure your filings are accurate and strategically aligned with long-term business objectives.
📞 Call (312) 810-3603 or Book Your Consultation Online today.
Form 1120 – Federal C-Corporation Tax Filing
All C-Corporations must file Form 1120 – U.S. Corporation Income Tax Return annually. Errors in reporting income, deductions, or shareholder activity can trigger IRS scrutiny and penalties.
Our federal corporate tax services include:
- Preparation and filing of Form 1120
- Corporate income and expense review
- Depreciation and asset reporting
- Net operating loss calculations
- Coordination with shareholder reporting
- Electronic filing and compliance review
Every return is reviewed for accuracy, completeness, and risk mitigation.
Illinois Corporate Income & Replacement Tax Compliance
C-Corporations operating in Illinois are subject to:
- Illinois corporate income tax
- Illinois replacement tax
- Required state-level estimated payments
We prepare and file Illinois corporate returns, calculate replacement tax obligations, and ensure compliance with state regulations. This is critical for Chicago-based corporations to avoid state penalties and enforcement actions.
Estimated Quarterly Corporate Tax Payments
C-Corporations are required to make federal and Illinois estimated quarterly tax payments when applicable.
We assist with:
- Federal estimated tax calculations
- Illinois estimated corporate payments
- Underpayment penalty prevention
- Ongoing corporate income projections
Proper estimated payments protect your corporation from interest charges and compliance issues.
Corporate Tax Planning & Double Taxation Strategy
C-Corporations are subject to double taxation — once at the corporate level and again at the shareholder level when dividends are distributed.
We provide strategic planning for:
- Dividend vs salary structuring
- Retained earnings management
- Compensation planning for shareholder-employees
- Corporate income timing strategies
- Expense optimization and deduction planning
Our goal is to reduce unnecessary tax exposure while keeping your corporation compliant and defensible.
Multi-State Corporate Tax Filing
If your corporation operates in more than one state, multi-state filing obligations may apply. We assist Chicago corporations with:
- Multi-state nexus evaluation
- Apportionment calculations
- State return preparation
- Coordinated compliance across jurisdictions
This ensures proper reporting without overpaying or underreporting state obligations.
Late Corporate Returns, Amendments & Compliance Issues
If your corporation has:
- Unfiled Form 1120 returns
- Late Illinois corporate filings
- IRS or state notices
- Prior-year reporting errors
We provide corrective filing and compliance support. Our services integrate with IRS Representation, penalty review, and amended corporate return preparation when necessary.
Accounting & Financial Reporting Integration
Accurate corporate tax preparation requires strong accounting foundations. We support Chicago C-Corporations with:
- Financial statement preparation
- Year-end bookkeeping review
- Reconciliation of income and expense accounts
- Tax-ready accounting oversight
Our clean accounting services ensures clean corporate tax filings.
CFO-Level Corporate Tax Support
Beyond annual filings, we offer strategic advisory for corporations needing deeper financial insight. This includes:
- Corporate tax forecasting
- Cash flow analysis
- Long-term tax planning strategies
- Business growth tax structuring
We align tax compliance with long-term corporate strategy.
Why Choose Heard & Associates for C-Corp Tax Preparation
Chicago corporations choose us because we provide:
- Expert Form 1120 preparation
- Illinois corporate tax & replacement tax expertise
- Strategic dividend and compensation planning
- Multi-state filing coordination
- Year-round corporate tax guidance
- Clear communication and compliance-focused service
Our structured process — Review → Plan → File → Support — ensures your corporation remains compliant and strategically positioned.
5.0
Based on 53 reviews
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Jason Wiley
18:18 20 Feb 26
Very precise, business oriented, kind, and handled every aspect of business in a timely fashion, and communication was over the top.
johnesha Phillips
14:42 20 Feb 26
I have experienced exceptional customer service for the third consecutive year with Darrel handling my taxes. Darrel ensured I was updated throughout the entire process. My inquiries about taxes were met with prompt and professional responses. Overall, my experience with Heard's was outstanding, and I highly recommend his services.
Omari Howard
13:53 20 Feb 26
Good business as usual
Omari Howard
13:53 20 Feb 26
Great customer service as usual
Mary Chandler
21:55 19 Feb 26
Very professional. Great customer service. Always answers all my tax questions throughout the entire year. Fees are reasonable.
Chelsea Denise
03:30 30 Jan 26
Very professional, efficient, and knowledgeable. Made tax season simple and stress-free. Highly recommend!
McKayla Shepherd
01:41 30 Jan 26
I will probably never file my taxes with anyone else but this company! They make everything so easy and convenient and the process takes no time! Thanks so much Daryl!
Antwon Williams
22:57 28 Jan 26
I’ve had an excellent experience working with Heard & Associates . He’s extremely knowledgeable, professional, and takes the time to explain everything clearly, which makes the entire process stress-free. He’s thorough, detail-oriented, and always make sure I’m getting the best possible outcome. Communication is quick and reliable, and I never feel rushed or confused. I highly recommend him to anyone looking for a trustworthy and efficient tax professional.
Carmecia Mcknight
14:50 28 Jan 26
Darryl is very professional and prompt.
He was thorough and extremely knowledgeable. All questions were answered clearly, deadlines were met, and the entire process was seamless. I felt confident knowing my finances were handled with accuracy and care. I highly recommend his services.
He was thorough and extremely knowledgeable. All questions were answered clearly, deadlines were met, and the entire process was seamless. I felt confident knowing my finances were handled with accuracy and care. I highly recommend his services.
Leann Solorio
15:02 26 Jan 26
Just did my taxes with Mr. Heard and he was kind and educational as well. Very nice office as well. Highly recommend going to him.
Martin vOJTEK
01:27 23 Jan 26
Darryl is amazing. He got me the best return I’ve ever had. He’s also so patient and kind and he will go out of his way to help with any issues that arise. I tell everyone I know to go to Darryl and sing his praises.
Gabrielle Benson
01:54 22 Jan 26
I found Darryl via online research with no referrals and I'm so glad I went with him! I needed to find someone who could handle my yearly tax preparation, but was also interested in future tax planning as I continue to grow financially. His team was super responsive, I got a response the same day and we scheduled a meeting for the next week. He was able to give me a price estimate and expected turnaround and my taxes were completed that day. He was knowledgable about any additional questions I had and communication was quick and thorough. I look forward to continue working with him!
Qinah S.
00:54 21 Jan 26
My people, my people! After being guided by Yah to "do something different this year", He led me to Heard & Associates. Darryl is accurate, efficient, responsive and pleasant, just to name a few of the key words when describing my experience with filing with this firm. Look no further! I encourage anyone who seeks a tax professional to connect with H&A asap. He was great!
nikhil sampat
14:21 16 Jan 26
Great experience! Very knowledgeable and helped out a lot! highly recommend
Soulful Mama
00:52 14 Jan 26
Heard & Associates is a great tax and accounting company. Professional and personalized. Stellar service!
Najala Watson
02:58 08 Jan 26
Excellent service from start to finish. Darrel truly cares about his clients and goes above and beyond to make sure everything is done right. The process was stress-free, organized, and very thorough. It’s clear he’s passionate about helping individuals and small businesses succeed. I would definitely recommend him to anyone needing tax or accounting guidance.
Najala Watson
02:57 08 Jan 26
I’ve had a great experience working with Darrel and his team. They are professional, knowledgeable, and always take the time to explain things clearly. I felt confident knowing my taxes were handled accurately and efficiently. Communication was smooth, and any questions I had were answered promptly. I highly recommend this business to anyone looking for reliable tax and accounting services.
Q
20:38 28 Dec 25
Effective, trustworthy and consistent organization. I've been using this firm for my tax preparation needs for the past couple of years and it has provided me with a peace of mind during the busy tax season. I would/have recommend tax services to anyone in my network!
Jason Wiley
20:33 27 Dec 25
Very professional, helped with all of concerns and needs, I felt very comfortable, learned new information, had a very positive impacting experience! Thank you so much!!!!
Laquitta Williams
14:41 25 Dec 25
I had an excellent experience with Darrel Heard & Associates. From the moment I connected with them, I felt comfortable and confident that I was in good hands. They were patient, professional, and took the time to truly explain everything to me in a way that made sense. I never felt rushed or overlooked.
They were extremely thorough and detail-oriented, making sure everything was accurate and done in my best interest. What I appreciated most was how stress-free they made the entire process — that alone is priceless. I walked away feeling relieved, informed, and confident about my finances.
I highly recommend Darrel Heard & Associates to anyone looking for an accountant they can truly trust.
They were extremely thorough and detail-oriented, making sure everything was accurate and done in my best interest. What I appreciated most was how stress-free they made the entire process — that alone is priceless. I walked away feeling relieved, informed, and confident about my finances.
I highly recommend Darrel Heard & Associates to anyone looking for an accountant they can truly trust.
Brandon Atkins
15:21 22 Dec 25
I’ve had an excellent experience working with Heard and Associates for both my personal and business taxes. They are knowledgeable, professional, and extremely thorough. They take the time to explain everything clearly and make sure nothing is overlooked. Tax season is stress-free knowing I’m in good hands. I highly recommend Heard and Associates to anyone looking for a reliable and honest accounting firm.
Marilyn Lee
13:42 22 Dec 25
Mr. Heard was very professional and knowledgeable about his services he provided. The location was very easy to find as well. He gives great detail with various options to help suit your needs. I would definitely be recommending him to my colleagues, family, and friends. Thanks Again.
Dantoinne Williams Jr.
00:07 22 Dec 25
I was in a panic because the person who originally did my taxes wasn't available. I reached out to Heard & Associates and all of my stress went away. We sat down discussed my situation for my business and my taxes were taken care of in that moment! I'm forever grateful and extremely pleased with the customer service.
James Watson
00:02 22 Dec 25
Heard & Associates has been excellent to work with for my small business taxes. Mr. Heard knowledgeable, professional, and extremely detail-oriented, which gives me real peace of mind. He took the time to explain everything clearly, stayed on top of deadlines, and made what’s usually a stressful process feel easy. Communication was smooth and timely throughout, and I always felt confident that my business was in good hands. I highly recommend Heard & Associates to any small business owner looking for a dependable and trustworthy accounting firm.
James Watson
22:12 21 Dec 25
I’ve had a great experience working with Mr. Heard. He’s knowledgeable, thorough, and made the entire process stress-free from start to finish. Everything was explained clearly, all deadlines were handled on time, and I felt confident knowing my return was done accurately. Communication was easy and professional, and he was always quick to answer any questions I had. I highly recommend him to anyone looking for a reliable and trustworthy accountant.
JUANJOSE CINTRON
15:12 11 Dec 25
Excellent professional, quick to reply and very helpful and thorough advice.
A 143
23:11 05 Dec 25
Professional!
Issa Salat
20:05 01 Dec 25
Very professional.
Yore Omerey
22:14 15 Nov 25
I was really stressed as a small business owner in this financial climate especially with the intense work I do. Mr. Heard respected me as a small business owner and created a business model to get me back on track.
He brilliantly solved long and short term issues with immense professionalism. I felt heard, I felt protected, and educated in the process. He was generous with his time and genuinely cared about the success of my company. The service was thorough and cost effective, he has my gratitude. I highly recommend them!
He brilliantly solved long and short term issues with immense professionalism. I felt heard, I felt protected, and educated in the process. He was generous with his time and genuinely cared about the success of my company. The service was thorough and cost effective, he has my gratitude. I highly recommend them!
Julian Howard
17:23 11 Nov 25
Extremely knowledgeable and professional — they made the entire tax process smooth and stress-free.
Always available to answer questions and explain everything clearly.
I highly recommend them for anyone looking for accurate, efficient, and trustworthy tax services.
Always available to answer questions and explain everything clearly.
I highly recommend them for anyone looking for accurate, efficient, and trustworthy tax services.
Demetria Dotson
18:32 13 Oct 25
Heard & Associates have always been top tier!
I had such a great experience with Heard & Associates! Mr. Heard was professional, patient, and really took the time to explain everything in a way I could understand. The company made filing my taxes so easy and even helped me get my finances more organized for the future. You can tell they truly care about their clients. I’ll definitely be coming back every year and recommending them to my friends and family!
I had such a great experience with Heard & Associates! Mr. Heard was professional, patient, and really took the time to explain everything in a way I could understand. The company made filing my taxes so easy and even helped me get my finances more organized for the future. You can tell they truly care about their clients. I’ll definitely be coming back every year and recommending them to my friends and family!
Brandon Atkins
04:53 13 Oct 25
I’ve been working with Heard and Associates for both my personal and business tax preparation and consulting, and I couldn’t be more satisfied. They’re professional, knowledgeable, and always take the time to explain everything clearly.
They helped me organize my business finances, maximize deductions, and develop a tax strategy that truly fits my goals. I really appreciate their attention to detail, quick communication, and how they make what could be a stressful process feel easy and efficient.
They helped me organize my business finances, maximize deductions, and develop a tax strategy that truly fits my goals. I really appreciate their attention to detail, quick communication, and how they make what could be a stressful process feel easy and efficient.
Whats The Word Media Inc.
02:12 13 Oct 25
Working with Heard & Associates has been one of the best business decisions I’ve made. Their professionalism, attention to detail, and commitment to accuracy truly stand out. From day one, their team made it easy to get organized and stay on top of everything — especially when it comes to bookkeeping.
They’ve completely transformed how my business handles its financial records. Every transaction is tracked, categorized, and explained clearly, so I always know where my money is going and what my cash flow looks like. Their bookkeeping services are not only thorough but also easy to understand — they take the time to explain reports and help identify opportunities to save or scale.
What I appreciate most is their consistency and communication. They respond quickly, provide monthly updates without being asked, and make sure all my accounts are clean and compliant come tax time. It’s rare to find a team that combines deep expertise with such genuine care for their clients’ success.
If you’re looking for an accounting firm that truly treats your business like their own — especially when it comes to keeping your books in order — I highly recommend Heard & Associates. They’re reliable, transparent, and simply excellent at what they do.
They’ve completely transformed how my business handles its financial records. Every transaction is tracked, categorized, and explained clearly, so I always know where my money is going and what my cash flow looks like. Their bookkeeping services are not only thorough but also easy to understand — they take the time to explain reports and help identify opportunities to save or scale.
What I appreciate most is their consistency and communication. They respond quickly, provide monthly updates without being asked, and make sure all my accounts are clean and compliant come tax time. It’s rare to find a team that combines deep expertise with such genuine care for their clients’ success.
If you’re looking for an accounting firm that truly treats your business like their own — especially when it comes to keeping your books in order — I highly recommend Heard & Associates. They’re reliable, transparent, and simply excellent at what they do.
david mason
14:20 02 Oct 25
I can’t say enough great things about Heard & Associates! They handle all of my business bookkeeping and S-Corp taxes for my heating and cooling company, and the experience has been outstanding. Their team is professional, reliable, and truly cares about helping my business succeed. I’m beyond grateful to have found such a knowledgeable CPA firm, and I look forward to continuing to grow my business with their support. Highly recommend them to any business owner looking for trusted financial guidance!
Schedule Your C-Corp Tax Consultation in Chicago
If your corporation requires accurate, strategic C-Corp tax preparation in Chicago, our team is ready to assist.