When will I receive the individual tax documents needed to prepare my return?

A business tax extension is a request to the IRS to extend the deadline for filing your business tax return. However, this is not an extension to pay any taxes you owe and doesn’t excuse you from making estimated tax payments throughout the year. Choose TurboTax Live Assisted Basic to get unlimited expert advice as you do your own taxes or TurboTax Live Full Service and let an expert do taxes for you, start to finish. A local tax expert matched to your unique situation will find every dollar you deserve and get your taxes done right – as soon as today. All features, services, support, prices, offers, terms and conditions are subject to change without notice.

You know your small business—we know business taxes.

• Intuit reserves the right to modify or terminate any offer at any time for any reason in its sole discretion.
• TurboTax makes this step easy by automatically importing your W-2s, 1099s, and bank transactions.
• Srivastava is not neglecting the human element; the company has built a culture of “continuous AI transformation” into the organization.
• But like any good operating system, it doesn’t require a lot of human support for users to employ it in their work.
• Final price is determined at the time of print or electronic filing and may vary based on your actual tax situation, forms used to prepare your return, and forms or schedules included in your individual return.

Here’s a primer on some of the documents you’ll want to be familiar with as you use TurboTax to prepare your tax return. If you think the time leading up to April 15 is tough for you, think about what it’s like for Intuit. Last year, Intuit filed 44 million returns for TurboTax customers, and the software computed $107 billion in tax refunds. Tax day in 2023 involved 185 billion real-time transactions (an average of 11 million transactions per second) for TurboTax, and Intuit processed 14 terabytes of data.

• You can receive your refund by check, whether you’re printing or e-filing.
• A TurboTax product specialist can help you, and even draw on your screen to help you get your taxes done.
• To do so, you’ll need a W-7 form, which is used to apply for an ITIN with the IRS.
• Other payments from federal, state, or local governments are also reported on a Form 1099-G such as a state or local income tax refund, credit, or offset you may have received.
• Today, we announced a new collaboration with Google Cloud that further simplifies tax preparation for millions of TurboTax customers this tax season.

Prices for paid products are determined based on the product you use and the time of print or e-file and are subject to change without notice. Special discount offers may not be valid for mobile in-app purchases.Your price could also change if you decide to upgrade your service level and add expert help, or if you choose to add other services like Audit Defense.. TurboTax also offers live support from tax experts, who are provided with AI-based advice about how best to address each customer’s tax situation. The live support is a product offering, but there is also free customer service.

A Guide to Commonly-Used IRS Tax Forms

You can have your refund directly deposited into a free to open checking or savings account with Credit Karma Money™ . Sign up when you’re ready to finish and file your taxes with TurboTax and begin using your account right away.Or, you can have your refund mailed as a check. You can receive your refund by check, whether you’re printing or e-filing. The time it takes to prepare your turbo tax forms return depends on the complexity of your taxes, your availability, seasonal peak days for tax preparation, and how busy our experts are.

Your tax expert will also have read-only access to your tax return so they can better understand your situation. You also have the option to share your tax documents with your tax expert, if needed. All conversations with our experts are documented in our system, so if you come back with another question, your tax expert can see what was already discussed.For a dedicated tax expert who’s matched to you based on your situation, choose Live Full Service.

Easy Tax Filing: Simplifying the Process for Small Businesses

We’ll help you understand how and find new deductions for your situation. We save your info automatically, so you can switch devices and pick up right where you left off. You can even file your taxes entirely from your phone with our mobile app.

TurboTax is awesome

TurboTax offers several ways to file your business taxes, depending on your level of tax expertise, budget, company type, and location. There are more than a thousand IRS tax forms for reporting various kinds of income, expenses and other financial data—and each piece of paperwork bears its own letter or number, which can seem as foreign as a new language. Fortunately, learning just a few key tax forms can give you much of the information you need to understand your tax return.

However, it’s always a good idea to check with your state taxing authority to confirm their specific requirements. Prior-year returns must be paper-filed, as e-filing is no longer available for them. We’ll walk you through that process when you get to the File section in the software. Find and compile all your important tax documents, including your income records (e.g., 1099s, sales receipts), expense records (e.g., business receipts, invoices, bank statements), and last year’s return. For example, TurboTax Self-Employed (also known as TurboTax Premium), one of our online products, may be right for you if your business is a sole proprietorship or single-member LLC. TurboTax Business is a better fit if your business is a partnership, multi-member LLC, or S Corporation.

We’ll break down tax obligations and considerations, including deductions, credits, and filing across different working arrangements. We’ll let you know what to expect and how to prepare in the unlikely event you receive an audit letter from the IRS. If you want more info on when your tax forms will be ready in TurboTax, check our tool.

How do I file a 2023, 2022, or 2021 tax return?

If you used TurboTax to file electronically last year, you’ll receive no tax forms by mail from the IRS. If you filed on paper, you’ll receive a postcard explaining your options for obtaining the forms. While you can pick them up at a post office or print them from , TurboTax will ask simple questions and automatically fill in all of the appropriate tax forms you need to file your tax return. There are many types of tax forms you might need when preparing to file your taxes. Additionally, you may receive certain forms from employers, loan service providers, and more. If you’re confused about what these forms are for, use this guide to learn more about IRS tax forms and which ones you’ll need to use to complete your return.

Q: Can I file my small business taxes online?

When you’re ready to start, we’re ready to take taxes off your plate. You can speak to your tax expert on the phone, through a live one-way video call on your screen (you can see your tax expert, but they can’t see you), with an independent TurboTax Verified Pro where available. Your tax expert will ask you questions and provide advice as they prepare your return and get ready to file on your behalf.

And most importantly, don’t wait until tax season – start planning your small business taxes today and save yourself the stress and headaches later. Our US-based tax experts and independent Intuit TurboTax Verified Pros have extensive experience and training. They can handle all kinds of tax situations, from simple to complex and are always up-to-date on all the latest tax laws, from crypto to side gigs and new government credits. They’ll guarantee your taxes are done 100% right, with every dollar you deserve. With Live Assisted, you prepare your taxes at your own pace and on your own time by answering simple questions about your life and taxes. When you need help from a tax expert, just select the “Live Help” button, and we’ll connect you.

TurboTax Business provides two options for filing—TurboTax Live Assisted Business and TurboTax Full Service Business. No matter what moves you made last year, TurboTax will make them count on your taxes. Whether you want to do your taxes yourself or have a TurboTax expert file for you, we’ll make sure you get every dollar you deserve and your biggest possible refund – guaranteed. Remember, no matter which IRS tax forms you need, TurboTax does the work of selecting and filling in the right forms—it can even import W-2 forms from more than 100,000 employers. You can also see when individual tax forms will be available in TurboTax. To view or download blank copies of tax forms, visit the IRS Forms, Instructions, and Publications page.

Most of the documents you’ll need to file your return will arrive by the end of January. Check the calendar below for estimated timelines to receive a specific tax form. If you’re not sure which forms you need when preparing your return in TurboTax, we’ll ask you simple questions and guide you through filing your return. Our self-employed and business tax experts will ensure you get every tax break with 100% accuracy, guaranteed. Depending on the service you choose, you may or may not be connected with the same tax expert who prepared your tax return.

To file a new prior-year return for tax year 2023, 2022, or 2021, you’ll need to purchase and download that year’s TurboTax software for PC or Mac, as TurboTax Online and the mobile app are only available for the current tax year. We bring together seasoned experts and powerful technology to get your taxes done right. We can handle your unique tax situation, even if you’ve had major life changes this year. TurboTax makes this step easy by automatically importing your W-2s, 1099s, and bank transactions. We also offer full audit representation for an additional fee with TurboTax Audit Defense. If you don’t have your forms on hand, you can auto-import your info from your W–2s or 1099s directly from more than a million participating employers and financial institutions.

When you access Live Help, you’ll enter some information about your question. This will help us direct you to the right expert to answer your question. Preparing and filing your small business taxes with TurboTax can take the heavy lifting out of tax season. Whether you plan to do it yourself or get help from a tax expert, we’ve got solutions that fit your business.

You’ll also find tax-saving credits like the Earned Income Tax Credit (EITC), and Child Tax Credit. If you decide to leave Full Service and work with an independent Intuit TurboTax Verified Pro, your Pro will provide information about their individual pricing and a separate estimate when you connect with them. Answer simple questions and TurboTax Free Edition takes care of the rest.