Business Tax Return Services in Oklahoma City
To ensure tax compliance by businesses across the nation, the Internal Revenue Service (IRS) has created steps that every business owner should follow while filing their business tax returns. The IRS can conduct audits at any time to examine the tax returns that are filed by sole proprietors , corporations, partnerships, and LLCs to ensure compliance.
Experienced Business Tax Services
We have been offering effective tax return services to businesses in the Oklahoma City Metro Area since 1986. With more than 30 years of experience in tax and corporate tax preparation, Yvonne Long-Starling and her associates are more than equipped to help you through the process of your business tax return filing. We have helped past clients and can do the same for you.
What Every Employer Needs to Know About Business Tax Returns
Corporate Tax Returns
The deadline for filing most corporate Tax Returns is March 15th . If you cannot file in time, you could be eligible for a 6-month extension. It may save you penalties. Generally, the extended due date is September 15th but exceptions apply.
S-Corporate Tax Returns
S-Corporations are a type of business entity that will have tax obligations just as any other corporation. In order to prepare an S-Corporation tax return - also known as Form 1120S - there will be many things to prepare. From preparing and compiling various financial records to other employee records including payroll tax returns, sales tax returns, and copies of W-2 statements, all documentation and bookkeeping can go toward creating an accurate picture of your business's financial standing.
Limited Liability Company (LLC) Tax Returns
LLC tax returns are due on April 15th, but can be extended for 5 months until September 15th. LLCs must file specific returns that are dependent on whether it is a single member LLC or multiple member LLC. LLC tax return requirements are as follows:
Single Member LLCs - if the member is an individual, the return must be reported on Form 1040 (Schedule C, E, or F).
Single Member LLCs - if the member is a corporation, the return must be reported on Form 1120 or Form 1120S.
Multiple Member LLCs - most LLCs will file a partnership return on Form 1065.
Partnership Tax Returns
Partnerships are types of business or trade relationships that can exist between two or more parties. Like LLC tax returns, partnership tax returns must be filed by April 15th and can be extended until September 15th. Partners must file an annual tax return on Form 1065.