Section 280H Limitations for a Personal Service Corporation (PSC). This form is used for and must be completed by a personal service corporation (PSC) that has elected under Section 444 to have a tax year other than a calendar year. If the Personal Service Corporation does not meet the minimum distribution requirements of Section 280H for the tax year, then it must file Schedule H with its Form 1120. However, if it does meet the requirement, it does not need to attach the completed Schedule H to its tax return, but it should still keep it with its tax records.
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