Our Tax Filing Extension Policy
What it means for you — and why we do it this way
At Inkle, transparency is part of how we work.
If Inkle has filed an extension on your behalf, you may have some questions. That’s completely understandable — and exactly why we’ve put this together.
This article gives you a walk-through of our approach to tax extensions filings: when we use them, why they're the right call, and what they do — and don't — mean for your tax obligations.
First, let's clear up the biggest misconception
An extension is NOT a delay in paying your taxes.
A tax filing extension gives us more time to file your return — it does not extend the deadline for any taxes owed.
Any balance due is still payable by the original deadline (typically April 15th).
We always calculate your estimated tax liability and ensure payments are made on time to avoid penalties or interest.
Extension filed
More time to prepare your return accurately
Taxes owed
Still due by April 15th,
no exceptions
Filing late without extension
Penalties apply.
We make sure this
never happens
Our policy: intentional, not blanket
At Inkle, we don't extend every client automatically — and we don't rush every return to meet April 15th at the cost of accuracy.
We use a hybrid approach grounded in one principle
"A good extension beats a rushed return. Every time."
Returns we file by April 15th
All documents and information have been received and verified by March 15th.
The return is straightforward, without any open questions that require extra time
You have a balance due, and filing on time might avoid penalties and interest
Filing early gives you faster tax certainty and cleaner financial reporting
You want the tax year closed for financial planning
Returns we extend
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Complex financials, multi-entity structures, or late adjustments
Additional review or tax planning is needed — rushing would compromise quality
You signed on or provided documents close to the deadline
There are open questions we haven't fully resolved yet
Waiting for foreign subsidiary financials with different tax year
We're still waiting on documents like K-1s or partnership financials
What this means for you as a client?
When we file an extension on your return, it means we're choosing accuracy over speed.
Your return won't have errors from being rushed at 2 AM
We've had time to review your situation thoroughly — including tax planning opportunities
Your filing reflects your complete financial picture, not an approximation
For clients with complex situations, extensions are often the right call. They let us deliver real value, not just a form filed on time.
How we communicate it with you:
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We'll always notify you when we're filing an extension on your behalf.
We'll confirm whether any taxes are owed by April 15th and coordinate payment.
We'll give you an updated timeline for when your final return will be ready.
A shared responsibility
Timely filing is a collaborative process.
We ask that documents and information be provided by March 15th wherever possible.
When submissions arrive after this date or remain incomplete, an extension ensures your return receives the careful attention it requires.
Our Commitment to You
Whatever the timeline, our standard stays the same.
Every return is filed when the work is done right — prepared carefully, reviewed thoroughly, and delivered with your best interests in mind.
We will never compromise on quality to meet a due date. And we will always make sure your tax obligations are honored on time, regardless of when the final return is filed.
When do we prefer to file an extension?
Complex or high-stakes situations
Multi-entity structures, significant tax planning decisions, or new and unusual circumstances that deserve extra care rather than a forced finish.
Incomplete or unfinalized books
When a client’s financials are still being reviewed or adjusted. Filing before the numbers are clean risks errors that are far more costly to fix after submission.
Late-arriving clients or documents
When clients join us during tax season, or documents arrive close to the deadline (after March 15th), filing an extension allows us to give their return the time and attention it deserves.
Waiting on third-party documents
K-1s, partnership statements, or other documents from third parties that haven’t arrived yet.
Foreign subsidiary with a different tax year
When a client’s foreign subsidiary follows a different tax year than the US entity, it's highly unlikely that the financials of the foreign subsidiary will be available and will provide enough time to include it in the return.
Extensions are a quality tool, not a convenience tool. A well-timed extension protects both the client and the integrity of the work.
Form 1120 Document Checklist
What We Need From You
To file your Form 1120 (U.S. Corporation Income Tax Return) accurately and on time, we need the following documents from you.
Providing these promptly is the single biggest factor in whether your return can be filed by April 15th or will require an extension.
Financial Statements
Balance sheet (as of year-end)
Income statement / Profit & Loss for the tax year
General ledger or trial balance
Bank and credit card statements (all accounts)
Income Records
Gross receipts and sales records
1099s received (1099-NEC, 1099-MISC, 1099-INT, 1099-DIV)
Records of other income (rental, interest, dividends, capital gains)
Expense Records
Payroll records and W-3 / W-2 summaries
Rent or lease agreements
Loan statements and interest documentation
Depreciation schedules (prior year + new asset additions)
Business insurance records
Legal and professional fee invoices
Corporate & Ownership Information
Prior year federal and state tax returns
EIN confirmation
Articles of incorporation (first year or if changed)
Ownership/shareholder information and percentage ownership
Any changes to stock structure during the year
Tax Specific Items
Estimated tax payments (dates and amounts) — Check bank statements or your accounting software; your bookkeeper can also confirm.
NOL carry forwards from prior years — Found on your prior-year tax return; ask your previous preparer if needed.
R&D or other tax credits — Pull from payroll reports and project cost records.
Foreign income or transactions — Review bank statements and agreements involving foreign entities; consult your CFO or attorney.
State nexus information — Check payroll records, sales records, and any state registrations or leases.
Multi Entry &
Special Situations
K-1s from any partnerships or S-Corps the company invested in
Subsidiary financial statements (if consolidated filing)
Everything You Need to Know
Factor/ Situation
Financials finalized before March 15th
Tax work fully complete before March 15th
Basic tax information like EIN, address available
R&D credit study complete
W-2, 1099 readily available
Routine, simple C-corp with all books closed and no foreign items
Extension Needed
No
No
No
No
No
No
International & Entity Structure
Foreign subsidiary (e.g., India) with different fiscal year, books not yet closed
Complex foreign information returns (5471, 5472, 8858, 8865) not ready
New international regimes (GILTI, BEAT, FDII) calcs not complete
Significant ownership changes (Sec. 382 analysis pending)
Waiting on K-1s or pass-through info from investments (corporate investor)
Yes
Yes
Yes
Yes
Yes
Accounting & Method Changes
Change in accounting method (Form 3115) being evaluated
Change in accounting period (short tax year) recently approved
Entity newly formed; still setting up books, chart of accounts
Yes
Yes
Yes
State/ Local
Pending state/local tax work that affects federal (e.g., state addbacks)
Yes
Data & Document Availability
Data dependency on external service providers (TP advisors, valuation experts)
Yes
Late or missing bank, brokerage, or loan statements
Yes
