If you’re like many people we talk to, taxes are the last thing you want to think about — that’s why you hired an accounting firm, right? We know you’d likely rather focus your energies elsewhere, so we’re here to help you stay ahead of the game and ensure your return is filed on time.
Q: When do I need to have my documents submitted?
A: In order for MSP to prepare your return by the appropriate deadlines, we’ll need your documents and information to be submitted to us by March 1 or April 1, 2023, depending on the date your return is due — March 15 or April 18, respectively.
Q: What items do you need from me?
A: Your tax team will provide a list of required documents and information through a secure file-sharing platform called Suralink (see below for more details about Suralink).
Q: How should I submit my documents?
A: MSP uses a third-party platform called Suralink for secure file sharing. Your tax team will set you up with a Suralink account for you to use to securely deliver your tax documents to us.
Q: What happens if I submit my documentation by the March 1 or April 1 deadline, but I accidentally leave something out?
A: Your tax team will contact you to request the missing information. If the omission was small, we will likely still be able to prepare your return on time. If the errors are significant or if a great deal of additional documentation is required, your return may be delayed.
Q: What happens if I miss my documentation deadline?
A: We cannot guarantee that your return will be filed on time and an extension may be required. Returns that are extended can usually be completed shortly after the deadline if we have all the required information, but there is no guarantee due to staff workloads and other constraints. An extension to file is not an extension to pay, and the amount of tax owed to the IRS and to other taxing authorities needs to be estimated and paid by the deadline to avoid any interest or penalties.
Q: In addition to March 15 and April 18, what other deadlines should I be keeping in mind for 2023?
A: January 31: 1099s
March 1: Hamilton County Personal Property Return
April 1: Tennessee Annual Report
April 15: Business Tax Returns (gross receipts, not franchise and excise)