What to expect at tax time
During tax season your Bench Bookkeeping and Tax Teams are working as fast as they can to finalize your year-end financial package and complete your tax filing. As they’re working through things, they’ll send you requests for additional context and supporting documents to ensure we’re maximizing tax benefits for your business. Timely responses to these requests help your Bench teams keep everything on track and avoid delays.
Here’s what we do
- Offer year-round support and advice for your tax questions
- Use your year-end financial package to prepare your tax forms
- Complete all necessary state & federal income tax forms
- File your income tax return for you
- Provide the amounts for your estimated tax payments
Here’s what we need from you
- Complete the annual tax questionnaire to refresh your business details
- Review and approve your year-end financial package
- Promptly respond to requests from your bookkeeping and tax teams
- Review and approve your draft tax return
How to check the status of your tax filing
Whenever you log into the Bench Tax App, you can quickly see which stage of the tax filing process you’re in.
What does each filing status mean
Here’s what you can expect at each of the stages of the tax filing process:
Tax Onboarding - for new Bench Tax customers
Setting up your tax experience: This is where we ensure everything is in place to handle your taxes smoothly.
Tax questionnaire: Fill out this essential questionnaire to provide the Bench Tax team with the key details we need to prepare your income taxes.
Tax forms and schedules: We’ll determine which tax forms and schedules need to be completed based on your unique business needs.
Document and information requests: We’ll request any initial documents or details required to get started. You can upload these directly in the app.
Pre-tax Preparation
Information gathering: We collect everything needed to ensure we can prepare your tax package.
Annual tax prep questionnaire: Each year, we’ll ask you to confirm what’s still accurate and update us on any changes. This helps us ensure your tax filing is as precise as possible.
Quality check: We’ll double-check the tax forms, schedules, and other work required, based on your updated responses to the prep questionnaire.
Document and information requests: If we need additional documents or details, we’ll let you know. You can upload everything directly in the app.
Tax Form Preparation
Turning data into work papers: We use your Year-End Financial Package and responses from the questionnaire to create detailed work papers for your tax filing.
Drafting tax returns: Based on the work papers, we prepare draft versions of your tax returns for review.
Handling requests: If anything additional is needed—like clarification or bookkeeping updates—we’ll reach out to you directly.
Draft Review and Approval
Quality check: We carefully review the draft tax return to ensure accuracy and completeness.
Refining the work: Your tax preparer’s work is evaluated, and any necessary improvements are made.
Addressing requests: If additional information or updates are needed, we’ll reach out to you.
Customer review: You’ll have the opportunity to review the draft tax return and provide feedback or approval before filing.
Tax Filing
Review and authorize: You’ll e-authorize Bench to file your prepared tax return.
Filing the return: Depending on the type of return, we’ll either e-file or paper file it for you.
Confirmation: Once your return is filed, you’ll receive a closing message with the details.