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Corporate Tax Preparation

Corporate Tax Preparation – Why it Matters who Prepares Your Corporate Tax Return

After having prepared and filed more than 10,000 tax returns for Charlotte corporations and businesses as well as business across the country we know a little something about corporate tax preparation and partnership returns.  We know:

• If the corporate tax return is not prepared correctly, there is an opportunity for the IRS to flag your corporate or partnership tax return for an audit.
• The tax requirements for the partnership and corporate returns are becoming increasingly complex
• The Healthcare reporting requirements add additional complexity to completing a return
• Not completing the tax return correctly can cost you money

Amazingly, even corporate tax returns prepared by professional tax accountants are wrong.  Each year we look at many corporate and partnership returns prepared by other Charlotte tax preparers and find we have to amend the returns.  Give us a call and let us take a second look at your returns.

At No Charge to You We Will:

• Check your Corporate tax return for errors and omissions.
• Verify that the correct tax return for your business entity is filed.
• Make sure all credits and deductions are included on your return.

Who Must file a Corporate Tax Return

Unless exempt, all domestic corporations must file a corporate income tax return.  This includes corporations with no income and companies in bankruptcy.  Companies that make the S Corporation election will have their CPA or accountant prepare Form 1120s.  The corporate tax preparation for a  C Corporation includes filling out and filing Form 1120.  A partnership will file a 1065 Partnership return.

Corporate tax returns do not follow the same deadline as personal tax returns.  Corporations whose fiscal years follows the calendar year must file the corporate tax return by March 15.

If you corporation has dissolved you must file a corporate tax return by 15’th day of the third month after the date the corporation has dissolved.

Our tax laws for both individuals and corporations continue to become increasingly complex.  Contact us for a Free 30 minute consultation or to have us take a look at your tax returns for inaccuracies or potential issues.  We look forward to working with you and stepping you through the corporate tax preparation process.