This video helps you understand the differences between Form 1120-H and Form 1120, and alerts you to the huge tax risks that exist on Form 1120.  This graphical presentation illustrates a composite of several actual circumstances that have been encountered during IRS audits.  While the risk of being selected for an IRS audit is relatively low, the risk of having substantial negative tax adjustments as a result of an audit is extremely high, approaching the 100% level.

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