LITTLEWOOD & ASSOCIATES CPAS PLLC
Business Tax Organizer
Please provide me with copies of the following:
1. Financial Statements for this tax reporting year including a Balance Sheet and Income
Statement. Also a copy of all 12 monthly bank statements for all of your business
accounts.
2. Copies of your federal and state income tax returns for the past two years or for sole
proprietors, your personal federal tax returns for the past two years, including your
schedule C.
3. Fixed Asset Schedules, ending inventory balances, and accounts receivable balances.
4. For new clients, copies of your entity agreements including articles of incorporation,
partnership agreements, LLC agreements, and the like.
5. If incorporated, state of incorporation, state ID number, and date of incorporation.
6. For S Corporations, a copy of your Form 2553 and the IRS acceptance letter.
7. For new businesses, your employer ID number (EIN).
8. For new businesses, your date started, principal business activity, principal product or
service, and if you use cash or accrual or some other method of accounting.
9. If the business has employees, copies of all your payroll returns for the year and W-2s.
(Note we can prepare these for you. Need names, addresses, SSN’s, and amounts)
10. If the business has contractors, copies of all your 1099-MISC’s for the year.
(Note: we can prepare these for you. Need names, addresses, SSN’s, and amounts)
11. Any closing statements for real estate property purchased or sold during the year.
12. Any interest statements, dividend statements, and mortgage reports for any loans and
investments owed or owned by the business.
13. Note and changes in ownership including names, percentages, addresses and SSN’s.
Information Needed for All Business Entities
1. If you are a new client, your previous two year’s business tax returns or schedule C’s.
2. If you are a new client, a copy of your state incorporation papers or partnership
agreement.
3. If this is an S Corporation, a copy of your IRS Form 2553 and IRS acceptance letter.
4. Please provide an income statement, balance sheet, and final bank reconciliation for all
your business bank accounts.
5. If you have employees, please provide copies of all your payroll returns, W-2’s and
1099’s for the tax return year. If you would like me to prepare them, please provide the
required information including mailing addresses, SSN’s, amounts paid, and any taxes
withheld.
6. Information on any withdrawals of capital by any of the owners in this tax reporting
year.
7. At any time this year, did this business have interest in or signature or other authority
over a financial account in a foreign country?
8. Any time this year, did this business have any debt cancelled, forgiven, or the terms
modified to reduce the amount of principal owed?
9. Were there any changes in the way that the business books were kept between this and
last year or during this tax reporting year?
10. Were there any changes in the manner in which inventories are valued?
11. Does this business have any foreign partners or shareholders?
12. Did this business pay any taxes to a foreign government during this tax reporting year?
13. Did this business pay any expenses during the year to make the business more accessible
by individuals with disabilities?
14. Did this business pay any FICA on employee wages for tips above the minimum wage?
15. Did this business incur any research and development costs during this tax year?
16. Did this business own any residential rental property providing housing for qualifies lowincome wage earners?
17. During this year, did this business hire any employees form one of the following target
groups: veterans or unemployed veterans, disconnected youth, ex-felons, vocational
rehabilitation referrals, high-risk or summer youths, food stamps, or SSI recipients?
18. Did this business incur any start-up expenses for a small employer this tax year?
19. Did this business provide differential pay to employees going on active military duty?
20. Does this business provide child care facilities or services to its employees?
21. Did this business purchase an alternative fuel vehicle this tax year?
22. Does this business qualify for one of many special fuel credits?
23. Has this business ever had to file a Form 8918, Material Advisor Disclosure Statement?
24. In this tax year, did this business purchase of dispose of any assets or improvements?
Information Needed for Partnerships
1. At any time during the year, was any partner in this partnership a disregarded entity, a
partnership, a trust, an S corporation, an estate, or a nominee or similar person?
2. At any during this year, did any foreign or domestic corporation, partnership or entity treated as
a partnership, trust individual or estate own directly or indirectly 50% or more of the profit, loss
or capital of the partnership?
3. At any time this year, did this partnership own 20% or more, or own directly 50% or more of the
total voting stock of all classes of stock entitled to vote of any foreign or domestic corporation?
4. Was there a distribution or property or a transfer of partnership interest by sale or death in this
tax reporting year?
5. Is this partnership a publically-traded partnership as defined in Section 469(k)(2)?
6. Who is the Matters Partner? His/her tax ID and address?
Information Needed for Corporations
1. Is this corporation a member of a controlled group of corporations? If yes, please provide the
details.
2. Is this corporation a personal holding corporation?
3. Is this corporation a qualified personal service corporation?
4. Is this corporation a subsidiary in an affiliated group or parent-subsidiary controlled group? If
yes, provide the details of all other related corporations.
5. At the end of this tax reporting year, did any foreign or domestic corporation, partnership, trust,
estate, tax-exempt organization or individual own 20% or more, or own directly or indirectly 50%
or more of the total voting power of all classes of stock entitled to vote?
6. At the end of this tax reporting year, did this corporation own directly 20% or more, or own
directly or indirectly 50% or more of the total voting power of all classes of stock entitled to vote
of any foreign or domestic corporation?
7. At any time during this tax year, did one foreign person own, directly or indirectly, at least 25%
of (a) the total voting power of all classes of the corporation’s stock entitled to vote or (b) the
total value of all classes of the corporation’s stock?
8. Has the corporation made any estimated tax payments for the current tax year?
9. Did this corporation receive any dividends from another corporation?
10. Did this corporation pay any compensation to any of its officers and have total receipts of
$500,000 or more? If yes, provide name, SSN, percentage of time devoted to the business,
percentage of common and preferred stock owned, and the amount of compensation paid to
each corporate officer.
11. During this tax year, did the corporation pay dividends (other than stock dividends and
distributions in exchange for stock) in excess of the corporation’s current and retained earnings
and profits?
12. Did this corporation issue publicly-offered debt instruments with original issue discount?
13. Did this corporation earn any tax-exempt interest during the tax year?
14. If this is an S Corp, does this business have any built-in gains or earnings and profits from when it
was a C Corp with its basis determined by reference to its basis as a C Corp?