Happy New Year! We are getting ready for tax season 2025 (2024 filing year), please review the following notes:
- Deadline reminders:
- entity returns (partnerships and S-Corporations) are due 3/15. We request to have all applicable documents and financials no later than 2/15 in order to prepare the returns. If you need us to file an extension, please let us know.
- Individual/C-Corps/Trust/Estate returns are due 4/15. Again, we request to have all required information by 3/15. If you need us to file an extension, let us know.
- All tax liabilities are due by the initial filing deadlines, regardless of extensions. Extensions only provide additional time to file, not to pay. If you need assistance estimating your liability please let us know.
- 1099’s, W-2’s, etc. are due in January. Business owners, please ensure you meet this filing deadline.
- Busy Season Schedule: Brian’s calendar will show limited availability, please reach out if you need to schedule time to discuss any important details.
- Organizers – these are printed to SmartVault as of today under tax year 2024 “client source documents” folder. While we do not require this to be completed, it is highly recommended. At a minimum, use it as a guide/reminder for common tax documents and details you should be providing. Please let us know if you do not see your organizer (this only applies to individual returns). If you are a new client this year, there may not be an organizer.
- General timing/process –
- When you believe you have gathered everything required for us to prepare your return, feel free to send Brian an email (this applies to business and individual returns). You are still welcome to upload documents to the vault as they become available (no requirement to wait and upload everything at once).
- We will communicate with you throughout the preparation process to confirm details and ask clarifying questions.
- When we have completed final review of a return, we will send it to you via DocuSign for review and signature. Once you have reviewed and signed, we will submit the returns electronically. Once returns process (are accepted by the relevant agencies) we print the e-file confirmation letter to your tax folder.
If you have any questions, please reach out!