Your Last-Minute Tax Filing Checklist

Announced March 17, 2021, the IRS has extended tax day for individuals from April 15 to May 17, 2021. 

Getting things in order 

If you’re still working on pulling together all of your information for your 2020 tax filing, it is not too late! We’re sharing a last-minute tax filing checklist to help you get organized quickly and prepare for the upcoming tax deadlines. 

If you work with an accountant or business that helps you file your taxes, connect with them as soon as possible to schedule a meeting or get on their radar so they know to schedule you into their upcoming workload. 

Items to have on hand 

What items do you need to have ready for your accountant?

  • Financial records including balance sheets, income statements, and cash flow statements
  • Capital asset activity 
  • Payroll documents and reports
  • Expense reports and receipts
  • 1099s 
  • Mileage log 
  • Home office expenses
  • Changes in business ownership
  • Estimated tax payment records (quarterly payments) 
  • Charitable donation receipts
  • 2019 tax return 

While every business filing will look different from the next, you will need to provide these documents to your accountant.

Requesting an extension for C Corps

You can e-file for an automatic tax-filing extension, giving you until the fall to file your return. Just remember, even though you have a longer time to file your return, you have to pay your taxes by the original deadline otherwise you face the risk of incurring tax penalties and interest. Keep in mind each state has its own filing requirements and rules.

Need some additional help?

If your usual go-to tax partner is booked out for the season or you’re simply needing some assistance filing your tax return this year, you can connect with our team today. We are happy to answer your questions and help you in whatever ways you need. 

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