S Corporation Tax Checklist

Checklist

• Prior-year Form 1120-S and shareholder Schedules K-1
• Year-end profit and loss, balance sheet, trial balance and general ledger
• Officer compensation and shareholder payroll records
• Forms W-2/W-3 and payroll tax returns
• Shareholder ownership percentages and changes during the year
• Shareholder capital contributions and distributions
• Shareholder loan activity and year-end balances
• Shareholder stock and debt basis information
• Business loans, including year-end principal balances
• Accounts receivable, inventory, fixed assets and accounts payable
• Asset purchases, sales and depreciation records
• Nondeductible expenses and separately stated items
• Estimated tax and extension payments
• State apportionment or multistate information where applicable
• Any IRS or California notices