Description
What this service includes:
- Corporate Transparency Act Reporting on the FINCEN website for a reporting entity with up to 5 beneficial owners
- 1-year Premium Membership to Teaching Tax Flow
Recommended for taxpayers that:
- Taxpayers that are considered beneficial owners of a “reporting entity” per FINCEN’s definition.
Click on the “FAQs” tab above for more details on this product
FAQs
Who needs to file a Form 1040?
Individuals who have income from wages, salaries, tips, interest, dividends, alimony, or any other taxable income sources are required to file a Form 1040.
What is the deadline for filing a Form 1040?
The deadline for filing Form 1040 is usually April 15th of each year. However, if this date falls on a weekend or holiday, the deadline is extended to the following business day.
What happens if I miss the deadline for filing a Form 1040?
If you fail to file your tax return by the deadline, you may be subject to penalties and interest on any taxes owed. It is important to file your tax return on time even if you are unable to pay the full amount owed. Don’t be afraid to file a tax extension if you feel you may miss the filing deadline (must be done prior to the deadline).
What documents do I need for Tax Preparation?
You will typically need your Social Security number, W-2 forms, 1099 forms, and any other relevant tax documents such as receipts or bank statements. Additionally, you may also need information on deductions and credits you are eligible for.
How long does Tax Preparation take?
The time it takes to prepare and file your taxes depends on your individual situation. It can vary from a few hours to several days or weeks for more complex tax situations. It is important to start the process early to avoid any potential delays.