— Our Policy · Tax Season 2025
At Inkle, transparency is part of how we work.
If you've received a notice from Inkle about filing an extension on your behalf, you may have had questions. That's completely understandable — and it's 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
Here's how we decide:
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."
Filed by April 15th
When we file on time
All documents have been received and verified by March 15th.
The return is straightforward with no open questions
You have a balance due and filing on time avoids penalties
Filing early gives you faster tax certainty and cleaner financial reporting
Extension Filed
When we extend
.png){kind=icon}
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
A mistake on a filed return costs more to fix than an extension ever will.
— The Inkle Tax Team
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-Entity & Special Situations
- K-1s from any partnerships or S-Corps the company invested in
- Subsidiary financial statements (if consolidated filing)
.png){kind=icon}
The most common causes of extensions at Inkle: missing depreciation schedules, prior year returns, shareholder loan details, and K-1s. Send these early — and most clients never need an extension at all.
Our Promise
Quality and clarity. Always.
Whether your return is filed by April 15th or on extension, our commitment is the same: your taxes are done accurately, your obligations are met on time, and you're never left wondering.
We won't file a return we're not confident in. We won't rush at the cost of your financial interests.
1
Accuracy over speed
Every return reflects your complete financial picture, not an approximation under pressure.
2
No surprises on payment
We always confirm any taxes owed by April 15th and coordinate payment — extension or not.
3
You're kept informed
We notify you of any extension, explain why, and give you an updated timeline.
4
Intentional, not blanket
Extensions are a quality tool. We use them when they serve you — never by default.
FAQs
Financials finalized before March 15th
No
Tax work fully complete before March 15th
No
Basic tax information like EIN, address available
No
R&D credit study complete
No
W-2, 1099 readily available
No
Routine, simple C-corp with all books closed and no foreign items
No
International & entity structure
Foreign subsidiary (e.g., India) with different fiscal year, books not yet closed
Yes
Complex foreign information returns (5471, 5472, 8858, 8865) not ready
Yes
New international regimes (GILTI, BEAT, FDII) calcs not complete
Yes
Significant ownership changes (Sec. 382 analysis pending)
Yes
Waiting on K-1s or pass-through info from investments (corporate investor)
Yes
Change in accounting method (Form 3115) being evaluated
Yes
Accounting & method changes
Change in accounting period (short tax year) recently approved
Yes
Entity newly formed; still setting up books, chart of accounts
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
