S Corporation Tax Organizer
Use a separate organizer for each S corporation
S Corporation General Information
Legal name of S corporation
EIN#
–
S corporation address ❑ (check if new address)
Tax Matters Individual
Title
Phone (
)
❑ Yes ❑ No Did the corporation have a change of business name or address during the year?
Principal business activity
Principal product or service
❑ Yes ❑ No Was the primary purpose of the S corporation’s activity to realize a profit?
Accounting method: ❑ Cash ❑ Accrual ❑ Other (specify)
❑ Yes ❑ No Does the corporation file under a calendar year? (If no, what is the fiscal year?)
S Corporation Specific Questions
❑ Yes ❑ No Did the corporation hold an annual meeting with shareholders with a record of minutes maintained?
❑ Yes ❑ No Was the corporation a C corporation before it elected to be an S corporation?
❑ Yes ❑ No Is any shareholder in the corporation a disregarded entity, a partnership, a trust, an S corporation, or an estate?
❑ Yes ❑ No Did the corporation own directly 20% or more, or own, directly or indirectly, 50% or more of the total stock issued and
outstanding of any foreign or domestic corporation?
❑ Yes ❑ No Did the corporation own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in the
profit, loss, or capital in any foreign or domestic partnership or in the beneficial interest of a trust?
❑ Yes ❑ No Did the corporation have any outstanding shares of restricted stock at the end of the tax year?
❑ Yes ❑ No Did the corporation have any outstanding stock options, warrants, or similar instruments at the end of the tax year?
❑ Yes ❑ No Did the corporation have any non-shareholder debt that was cancelled, forgiven, or had terms modified to reduce amount of
principal?
❑ Yes ❑ No Was the corporation’s S election terminated or revoked during the year?
❑ Yes ❑ No At any time during the year, did the corporation have an interest in, or signature authority over a financial account in a foreign
country?
❑ Yes ❑ No Was there a distribution of property or a transfer (by sale or death) of a shareholder interest during the tax year?
Does the corporation satisfy the following conditions?
❑ Yes ❑ No
• The corporation’s total receipts for the tax year were less than $250,000.
• The corporation’s total assets at the end of the tax year were less than $250,000.
❑ Yes ❑ No Did the corporation pay $600 or more to any individual? If yes, include a copy of Form 1099-MISC for each.
Principal Shareholders Ownership Information
Tax ID number
Ownership
Shareholder
U.S.
Name/ Title
(SSN or EIN)
Address
percentage
stock basis
citizen?
How many shareholders were there on the last day of the year?
Shareholders –
Provide the following information for any shareholder who was an officer or 2% or more owner of the corporation during the year
Health insurance
Capital contributions
Distributions
Shareholder loans
Loans repaid by corporation
Shareholder/Office name
Wages paid
premiums paid
from shareholder
to shareholder
to corporation
to shareholder
All Clients –
New Clients –
Additional information and documents required
Additional information and documents required
• Provide the business income/financial statements for the year (per
Date incorporated
books), balance sheet, depreciation schedule per books, and cash
State of incorporation
reconciliation of all business bank accounts with ending cash balances.
Date of S corporation election
• If the S corporation has employees, provide a copy of Form W-3,
Corporation state residence
Form 940, Form 941, and any state quarterly tax filing reports.
• Provide a copy of the Articles of Incorporation, bylaws, and any
• If the S corporation made payments of $600 or more to independent
corporate resolutions.
contractors, provide copies of Form 1099-MISC issued.
• Provide a copy of the depreciation schedules for book, tax, and AMT.
• If any shareholders live in a different state or outside the United
• Provide copies of returns for the last two years, including state returns.
States, provide details. The corporation may be subject to withholding
Enclose a copy of IRS Form 2553, Election by a Small Business Corporation,
requirements.
and IRS acceptance.