Corporate and Partnership Tax Time Instructions

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Corporations and Partnerships “Tax Ready” Documents

Please submit no later than February 15   (or August 12, if extended)

The following guide helps you determine which information Accountability Services will need to prepare your Corporations and Partnerships Tax Return(s).

​To avoid additional time & cost for your preparation, be sure to ONLY upload PDF, Word or Excel files. JPG (photos), Mac or Google files are difficult or impossible to convert and can delay your preparation.

Note: Tax law changes are always possible. There may be the need to ask you seemingly ‘silly’ questions during the preparation process related to certain revenue streams and business transactions.  We are committed to optimizing your situation to get the best tax result for you and your company. 

Tax Preparation Agreement

​Financial Reports Authorized by Company Management / Owners

After accounts have been reconciled and Management / Owners agree that the financial statements provide a fair representation of the business results for the year, we need reports saved in an EXCEL workbook (4 tabs) from your accounting system:

  1. Balance Sheet – Previous Year Comparison (12/31 from last fiscal year and the year before)
  2. Profit & Loss Statement for the last fiscal year, 1/1 to 12/31. Be sure to provide any foreign sourced (non-USA) revenue.
  3. Breakout report – Sales by State, if applicable
  4. General Ledger report of all transactions by account for the last fiscal year, 1/1 to 12/31

Note: Run these reports either on cash or accrual basis – depending upon the basis your company reports financial data to the IRS.  We can provide easy instructions on how to run these, so if in doubt, send our Tax Team a request.

Also: Please send us FINAL reports. Changes submitted to Accountability Services after you initially submit your reports may not be able to be made if too close to the filing deadline. Additional charges apply for re-work required as a result of any changes you make to your financial statements.

    • If your system is hosted either at Swizznet or QuickBooks Online and we have access, we will log in to secure the Excel reports upon receipt of your executed Tax Preparation Agreement and ‘green light’ notification that your books are reconciled, closed and ready for us to begin work.

Non-US Subsidiaries

Does your US company own a Foreign company?
Is your US company owned by a Foreign company?
If yes, scroll down 2 more sections for more information.

Other Supporting Documentation and Information (US and Foreign):

  1. Forms W-2 for all employees, along with the W-3 or Payroll Summary report
  2. Information pertaining to changes in ownership (dates, percentages, new owner names/addresses/SSNs)
  3. For any Officer’s Salary paid that was less than $56,500 for last year, please send us a paragraph description of the calculation or methodology you used to determine the salary
  4. Percentage of time each Officer devoted to the business
  5. Summary of Employee Benefits offerings (Health Insurance, Retirement, etc.)
  6. Advise us of any address change for business or K-1 owners
  7. Please send us your answers to these 2 questions on the tax return related to your vendors:
    • Did your business make any payments last year that would require you to file Form(s) 1099?
    • If ‘Yes,’ did you or will you file all required Forms 1099?
  8. If first year filing as an S-Corporation, copy of the S Election Acceptance letter from the IRS

If not yet sent, please send us copies of all governing documents (including updates from last year) along with the following information:

  1. Operating Agreement or Bylaws
  2. Redemption Agreements
  3. Merger or Purchase / Sale Agreements
  4. Shareholder Agreements, including Loan and Buy-Sell Agreements
  5. Accountable Reimbursement Plan
  6. Fixed Asset Capitalization Policy
  7. Percentage of time each Officer devotes to the corporation

Foreign Companies – if you (personally) or your company own 10%+ stock in a foreign company, please also provide:

  1. Foreign entity comparative Balance Sheet (in Excel) translated to English and USD*
  2. Foreign entity Profit & Loss Statement (in Excel) translated to English and USD*
  3. Copy of the foreign tax return(s), translated to English
  4. Exchange rate utilized
  5. Summary of all intercompany transactions by type
  6. Description of all intercompany transactions and methods utilized to determine amounts
  7. List of all payments paid to shareholders (dates, amounts, payee) along with GL account name(s)
  8. Let us know where manufacturing or services occur?  In US?  Or in the foreign country?
  9. Bank Information for which you have signatory authority:
    • Name of Bank(s)
      Highest balance in 2021 (USD)
      Account Number(s)

We can perform the exchange rate conversions for you.


New Clients to Accountability Services

Please provide a full copy of last year’s tax return with all schedules, if not yet provided.

How do I submit my documents?

Tax documents can be submitted in digital or hard copy format.

Option #1:  Digitally

Your Accountability Services CLIENT PORTAL provides a fast, easy, secure, password-protected system to safely and confidentially upload your tax documents and files.

CLICK HERE to access your Client Portal.

    • Go to the Tax Year > Source Documents folder
    • Click the + Upload Files button
    • Drag or browse files on your computer to Upload

Once you have uploaded ALL tax documents through your client portal, please notify us at Our tax team will let you know if we have everything we need from you to get started.

VERY IMPORTANT:  Please DO NOT send files via email. We cannot guarantee the security or confidentiality of any files transmitted via email.

Option #2: Provide Accountability Services access to your system

If we have online access to your accounting system, we can log in to secure necessary financial reports upon receipt of your executed Tax Preparation Agreement.

Option #3: Drop-off, Mail or Fax

Accountability Services is more than happy to accept your printed documents or to receive them via fax.

Events or Situations that can drive up the cost of your tax return

  • Lack of bookkeeping or poor bookkeeping (messy books), resulting in inaccurate or unintelligible financial statements
  • Prematurely providing financial statements that the owners did not sign-off / approve ahead-of-time
  • Rental property
  • Sale of other property
  • Correcting mistakes made if you previously self-prepared
  • Form 3115 for changes in accounting method (examples:  Missed Depreciation or going from Accrual to Cash, etc.)
  • Form 8824 for deferred gains on like-kind-exchanges (example: exchanging one rental for another, etc.)
  • Forms 5471 and 5472 for those owning stock in foreign privately-held corporations
  • Forms 114 and 8938 for disclosure of foreign bank accounts and asset reporting

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