Tax Preparation Help  
Pub. 542, Corporations 2007 Tax Year

Publication 542 - Introductory Material

Attention: This publication will no longer be revised on an annual basis. To find changes that may affect current year returns, see What's New in your income tax return instructions; Publication 553; and What's Hot In Tax Forms, Pubs, and Other Tax Products at To comment on this revision process, see Comments and suggestions on page 2.

Photographs of missing children. The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child.

This publication discusses the general tax laws that apply to ordinary domestic corporations. It explains the tax law in plain language so it will be easier to understand. However, the information given does not cover every situation and is not intended to replace the law or change its meaning.

Comments and suggestions.   We welcome your comments about this publication and your suggestions for future editions.

  You can write to us at the following address:

Internal Revenue Service
Business Forms and Publications Branch
1111 Constitution Ave. NW, IR-6406
Washington, DC 20224

  We respond to many letters by telephone. Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence.

  You can email us at *[email protected]. (The asterisk must be included in the address.) Put “Publications Comment” on the subject line. Although we cannot respond individually to each comment, we do appreciate your feedback and will consider your comments as we revise our tax products.

Tax questions.   If you have a tax question, visit or call 1-800-829-1040. We cannot answer tax questions at either of the addresses listed above.

Ordering forms and publications.   Visit to download forms and publications, call 1-800-829-3676, or write to the National Distribution Center at the address shown under How to Get Tax Help on page 22 of this publication.

Forms.   See page 24 for a list of forms that a corporation may need to file in addition to the forms discussed throughout this publication.


  • 535 Business Expenses

  • 538 Accounting Periods and Methods

  • 544 Sales and Other Dispositions of Assets

  • 925 Passive Activity and At-Risk Rules

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