USA Generally what is needed for an outside tax accountant to do 1120's?

[espresso_941]

Hello group I have a basic US tax preparer question generally what statements are needed from the accounting dept of a corporation (me) for an outside CPA tax accountant to prepare a corporate 1120 income tax return?
So far I have
1) Prior year 1120 tax return
2) Balance sheet
3) Income statement
4) Trial Balance
5) Payroll tax forms 941, 940, W3 etc

I am sure I am missing something
Thanks in advance

 

[BIG E]

If applicable - other government compliance forms such as state & local sales tax returns, gross receipts taxes, workmans' comp policy, tax estimates paid and when, any foreign tax implication reporting, to name a few.

 

[espresso_941]

If applicable - other government compliance forms such as state & local sales tax returns, gross receipts taxes, workmans' comp policy, tax estimates paid and when, any foreign tax implication reporting, to name a few.

Great info thank you

 

[stevuke79]

Hello group I have a basic US tax preparer question generally what statements are needed from the accounting dept of a corporation (me) for an outside CPA tax accountant to prepare a corporate 1120 income tax return?
So far I have
1) Prior year 1120 tax return
2) Balance sheet
3) Income statement
4) Trial Balance
5) Payroll tax forms 941, 940, W3 etc

I am sure I am missing something
Thanks in advance

It depends on the complexity of the entity. But if they have a good bookkeeper, you really should only need the Balance Sheet and Income Statement as well as the prior years tax return. (Technically you need the W3 to efile and the officer W2s.)

Having the 940s/941s, sales tax return, other local tax forms is great and I love having that in the file.. but unless I'm not thinking of something, assuming you have a cash basis filer, all that really does is validate the P&L and the balance sheet. You're just checking on the bookkeeper.

 

[BIG E]

The main reason for obtaining copies of ALL the various forms mentioned is to ascertain if consistent information has been reported to all of the authorities for the applicable periods, not merely to "check on the bookkeeper".