Tax Season Preparation Tips

We thank you for choosing Lewis & Knopf CPA, P.C. as your tax advisor. We truly appreciate your business, and we look forward to working with you this upcoming season. Below is a list of best practices to keep in mind when working with us to prepare your tax return. We will do our best to give you outstanding service, and if you keep these guidelines in mind, you will help us to do our best work for you.

  1. Keep Documents Organized Throughout the Year

We recommend having a designated file to store all your tax-related
documents as they come in during the year. Increasingly, our clients are scanning
their tax documents and maintaining an electronic tax file. Either way, doing it
throughout the year is always easier than waiting until the tax season.

  1. Register for an IRS Account

Dealing with the IRS can be made a little bit easier by setting up an IRS account at irs.gov. To begin the process, go to irs.gov and click on View Your Account.

The process generally takes about 10 minutes, and you will need your photo ID. Once your account is established, you can easily access a record of your account, make payments, view transcripts, and grant third-party authorization to your tax preparer.

  1. Keep the Originals, Send Us Copies

If possible, provide us with electronic copies of your tax documents rather than originals. And if you are sending us electronic documents, please send them in a PDF file format rather than as photos taken on your smartphone. Photos of your tax documents are often difficult to read and require extra time to convert to a usable format. PDFs can be shared through our secure client portal. 

  1. We Do Not Require Receipts

In most cases, we do not require any receipts to prepare your tax return. Please do retain receipts, however, in the event of an IRS audit. Please provide your deductible expenses in a spreadsheet or some other organized format. This will allow your tax preparer to focus on providing tax advice and other value-added services.

  1. Bring Us Your Tax Information as Early as Possible and All at Once

If you have your information ready, get your documents to us right away and submit them all at one time. We understand that there may be outstanding documents that may not be available right away. If you are missing some documents, let us know which items are outstanding and when you might expect to receive them. Submitting documents early and all at once allows us to begin your return promptly and avoids the likelihood of needing to file for a deadline extension.

  1. Designate a Primary Contact

If you are married and file a joint return, assign one spouse as the primary contact.

  1. Provide a Narrative If Necessary

In addition to providing your tax documents and completing our annual questionnaire, it is sometimes helpful to provide a narrative explaining your overall situation. This is particularly helpful when something about your tax situation has changed.

  1. Use the Web Organizer

Web Organizers will be sent electronically starting Tuesday, January 17, 2023. While it is not necessary to fill out the organizer in detail, it is a good idea to use it as a guide for what documents we will be looking for. If you need help accessing your copy of the Web Organizer, or want to begin receiving one, please contact our Portal Administrator, Vicki Mullin, at vmullin@lewis-knopf.com. 

  1. Review Your Return

We do our best to prepare an accurate and complete tax return from the information you provide, but we still ask that you review your tax return carefully. Returns are delivered and signed electronically via SafeSend Returns. Ultimately, it is your responsibility to make sure everything is reported correctly. If you do see an issue or have a question, don’t hesitate to contact us and we will address it immediately.

  1. Become Familiar with Due Dates

Here are some of the due dates you need to be aware of:

  • Personal tax returns are due April 15
  • Estimated tax payments for personal returns:
    • 1st Quarter due April 15
    • 2nd Quarter due June 15
    • 3rd Quarter due September 15
    • 4th Quarter due January 15
  • Partnership and S-corporation tax returns are due March 15
  • Corporation tax returns are due April 15
  • Estate and Trust tax returns are due April 15.
  • Estimated tax payments for corporate tax returns:
    • 1st Quarter due April 15
    • 2nd Quarter due June 15
    • 3rd Quarter due September 15
    • 4th Quarter due December 15

Six-month extensions are allowed for both personal and business tax returns. However, there is no extension on the time to pay your taxes.

We hope these tips help make tax season go as smoothly as possible. If you have any questions or concerns, please contact us.