Determine business return type for filing as registered with the IRS (Form 1065, 1120, or 1120S). If unsure, contact the IRS Business help line at 1-800-829-4933.
Employer Identification Number (EIN) as registered with the IRS. If you don’t have an EIN, apply online at IRS.gov.
List of states and state ID numbers in which your business has nexus or a presence that requires reporting.
Copy of articles of incorporation or bylaws including any amendments.
If entity has an accepted S election to be taxed as an S corporation, IRS acceptance letter or Form 2553, review current year filing requirements.
Copy of Form 8832 if a check-the-box election was filed to be taxed as a corporation.
Last year’s federal, state, and local tax returns.
All amounts and dates for state and local estimated tax payments made.
Information for each individual or entity owning 20% or more of corporation’s stock.
All Forms 1099-B, 1099-DIV, 1099-INT, 1099-K, or 1099-MISC received (or other records for dividends, interest, or business income).
Schedule K-1 received from entities that your business owns (lower tier entities).
All granted credit certificates issued by federal or state taxing authorities.
Trial balance report from company books.
Bank and credit card records to support interest and other day-to-day business expenses.
Copy or summary of all Form 1099 and W-2 issued.
Reports detailing all federal unemployment, Social Security, and Medicare tax paid (Forms 940 & 941).
Reports of state and local payroll tax paid.
If business was conducted in multiple states, compile a report of sales, payroll, and property values for each state.
Schedule of carryover losses, deductions, or credits from prior year tax returns.
Reports for inventory including cost of goods or materials purchased for resale or manufacture and the total value of goods or materials at the end of year.
Prior year depreciation schedules detailing asset cost, date placed in service, prior depreciation, and business use percentage.
Date of purchase, cost, trade-in allowance, and business use percentage for all assets acquired during the tax year.
Date of purchase, cost, sales proceeds, trade-in allowance, expenses of the sale, and accumulated depreciation for all assets disposed of during the tax year.
Mileage log for each owned or leased vehicle (business use and total use).
Reports for business use percentage and actual expenses for each owned vehicle (gas and maintenance costs).