TaxRearview Mirror · Are we current, and what do we owe?
Are we current, compliant and up to date on taxes?
Before working out what you’ll owe, make sure nothing is overdue: every return filed, every deposit made, every notice answered.
Compliance problems hide in the corners: a state you started selling into, a payroll deposit that slipped, a letter from a tax agency that sat in a drawer. Each one grows with penalties and interest the longer it waits.
An approach
- List every obligation. Federal and state income tax, payroll tax, sales and use tax, and any local filings, with how often each is due.
- Confirm the status of each. Filed and paid on time for the last 12 months? Get confirmation from your tax accountant and payroll provider, not a guess.
- Look for new places you owe. Selling or hiring in a new state can create filing requirements there.
- Clear anything open. File what’s late, pay what’s owed, and answer every notice from a tax agency.
- Put every due date on a calendar. With an owner for each, so nothing depends on memory.
You can answer it when
- Every return and deposit for the last 12 months was filed and paid on time.
- No open notices from any tax agency.
- Every upcoming due date is on a calendar with an owner.
Amplify doesn’t do tax work. If you need a tax advisor to get current, we’re glad to introduce you to one.
Related
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