Tax Preparation Process & Dates

2021 Tax Preparation Information for the 2020 Tax Year

We are excited to begin 2020 tax preparation services. Continuing our proactive approach, we recommend gathering applicable information early to ensure your return(s) will be filed on time. Filing early will reduce stress by informing you of any possible refunds or tax liability. Please be aware of the deadline dates directly below and specific guidance on required document submissions.

Upload Documents to Tax Organizer

Please fill complete your tax organizer and upload all tax documents before submitting them to your DrillDown Tax Pro.

Documents Submission Deadline

If we are unable to complete your return by the applicable due date(s), an Automatic Extension will be filed. Factors requiring Automatic Extensions: incomplete, missing, and late documentation submission or specific client request for Automatic Extension.

Meet with Your DrillDown Tax Pro

Meet with your DrillDown Tax Pro about Two Weeks after all your tax documents and tax organizer is submitted to review and approve your tax return. Once the tax agency accepts your tax return, a confirmation email will be delivered.

Tax Year 2020 Deadlines

Date for documents to be submitted to DrillDown Solution to ensure accurate preparation and proper client review, and to avoid automatic tax extension

S-Corporations and Partnerships

  • February 22, 20201 – 2020 Client Document Submission Deadline
  • March 15, 2021 – 2020 IRS Filing Deadline

S-Corporations and Partnerships Extension Deadline

  • September 15, 2021 – 2020 IRS Extension Filing Deadline for returns

Individuals and C-Corporations

  • March 22, 2021 – 2020 Client Document Submission Deadline
  • April 15, 2021 – 2020 IRS Filing Deadline

Individuals and C–Corporations Extension Deadline

  • October 15, 2021 – 2020 IRS Extension Filing Deadline

Instructional Videos

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Technology for your protection and Convenience

2020 Personal Income Tax Organizer

To protect your sensitive data in the current security environment, your Tax Organizer access is via your client portal. This not only gives you peace of mind but will save you time gathering your tax documents. An email with link and instructions will follow. You can return organizer with the click of a button!

Company QuickBooks Files & (QBO) QuickBooks Online

If your engagement does not include our monthly bookkeeping services for your businesses, please send us either an Accountant’s Copy of your QuickBooks Company File, applicable financial statements, and/or summarized income, expenses, assets, liabilities, and distribution records.

For our clients using the newest and most convenient technology; QuickBooks Online (QBO), simply notify us through email or organizer that your books are ready for tax. If you have not invited DDS access to your QBO do so now. Please invite us using the address below as your “accountant,” by clicking the Gear Icon, Manage users, add accountant. Address to use for your accountant: mhall@drilldownsolution.com

For QuickBooks file(s) the safest methods to send files is through QuickBooks Accountant’s Copy Transfer file or your secure DrillDown Solution Client Portal. The portal can be accessed by visiting www.drilldownsolution.com and then by selecting “Client Portal Login” in the upper right corner. Your Login is the email address we have on file for you, the password is set up to be your last name (initial cap) plus the last 4 digits of the primary tax payer’s social security number followed by an asterisk *. Example: Smith1234* If this does not work (the password may have expired), click on “forgot password” to reset

Tax Preparation Season Quick Tips

The following guide outlines simple steps to save your time, money, and stress this tax season.

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See Us Early

It’s best to see your tax preparer in early February. If you cut it too close, you can bet many other clients have as well, and likely your accountant will simply need to file an extension.
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Plan ahead

Designate a specific place in your home or office to collect these important tax documents. Create an email file folder to collect e-documents.
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Get Organized

Schedule a deadline for yourself to review and organize your documents, identify missing documents, and list the specific questions you need to ask your tax preparer.
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Attend Scheduled Meeting

Make sure you attend your own scheduled meeting or reschedule for when you have the time and energy.
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Check Your Mail

Check your mail and open any envelopes with the words “tax information” or “tax documents”.
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Check Your Email

Check your email and Junk folders. Most banks, mortgage companies, and investment brokerages, including student loans, send email notifications when your tax documents are ready for download. If you receive paperless statements, you may not receive any documents in the mail.
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Review Calendars and Check Registers

Review of planners, appointment calendars, and check registers – doing so, you might remember additional charitable deductions, business deductions paid through a personal account, additional business or charitable mileage, or many other tax-related items.
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Tax Organizer

Fill out the required tax organizer provided, even if you have been a client for years. Specific yes/no questions are used by your professional to discover possible tax deductions you may not be aware of pertaining to you, as well as new dependents.
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Sort documents by category

Use a list of common tax documents to assist you. If you have several similar documents, group them together by form number or type of activity for example rental or business activity.
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Questions

Include any questions you have and any explanations needed for major life events or complex transactions.
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Keep Your Receipts

Don’t send receiptsyour tax preparer is not an auditor. You don’t have to show him or her all your receipts. You should submit all related documents for complex transactions, such as those for real estate, investments, and business sales.
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Submit Organizer and Documents Once

Submit tax organizer and all documents together once, this action signifies you are ready to have your returns prepared. Multiple single document submissions increase the risk of errors and lost documents.