Direct answer
What is business tax preparation?
Yes — we rebuild from IRS Wage & Income transcripts, bank statements, and prior returns. Most cases produce defensible returns even without original records.
Filing correctly is the foundation of every successful resolution. We get it right the first time.
Proof
Does business tax preparation actually work?
Yes — here's what the IRS's own data shows about business tax preparation outcomes, timelines, and acceptance.
Process
How does the business tax preparation process work?
In 4 defined steps: scope & reconstruction → preparation & review → filing & resolution setup → ongoing compliance. Most clients see protective action within days, with full resolution measured in weeks to months.
- 01
Scope & reconstruction
Identify every unfiled period; reconstruct income and expense from bank statements, prior returns, and transcripts.
- 02
Preparation & review
CPA-prepared, partner-reviewed returns built to defend on audit. Schedules and elections documented.
- 03
Filing & resolution setup
Returns filed; resulting balances rolled into the appropriate resolution (IA, OIC, CNC).
- 04
Ongoing compliance
Quarterly estimates, payroll-tax deposit calendars, and annual filing handled going forward.
Want to know if business tax preparation is right for your case?
Free, confidential 15-minute case review with a CPA — no sales pressure, no obligation.
Timeline
How long does business tax preparation take?
Most cases move through 3 phases. Expect protective relief in the first phase and full resolution typically in 1–2 weeks.
Scope
Returns identified; engagement letter signed.
Preparation
Reconstruction and prep complete.
Filing & follow-up
E-filed where eligible; paper filings tracked.
Eligibility
Do I qualify for business tax preparation?
Business Tax Preparation fits a specific set of taxpayer situations — and there are cases where a different strategy will get you a better outcome. Here's exactly who it's for and who it isn't.
Who this is for
- Businesses with unfiled returns
- Companies needing amended returns post-audit
- Owners seeking ongoing CPA preparation
When this isn't the right tool
- Returns are simple, current, and self-prepared successfully — DIY may be the right choice.
- You need tax planning beyond compliance (M&A, equity comp) — refer for specialized advisory.
What we handle for you
- Prepare delinquent business returns
- File amended returns to correct errors
- Provide ongoing year-round CPA preparation
Investment
How much does business tax preparation cost?
We engage on a written flat fee with no hourly billing — typical engagements range from a few thousand to mid-five figures depending on the factors below. Your initial consultation is free and you receive a written quote before any commitment.
The fee for your case depends on:
- • Entity type (1120-S typically less than 1120 or consolidated 1120).
- • Number of states.
- • Whether prior returns must be reconstructed from transcripts.
Your initial consultation is free. You'll get a written scope and flat-fee quote before any engagement.
Watch out
What mistakes should I avoid with business tax preparation?
These are the four most common errors we see when taxpayers (or under-qualified preparers) handle these cases — each one can cost months of delay or trigger an outright rejection.
Filing late returns one at a time
We file the full delinquency window together to avoid each filing triggering separate CP-series escalation.
Failing to make penalty-abatement requests at filing
Late-filing penalties are often abatable via FTA or reasonable cause — we request at the same time we file.
Compare
What are the alternatives to business tax preparation?
Business Tax Preparation isn't the only path. Here are the other IRS programs that may fit better depending on your finances, asset picture, and timeline.
Tax software for simple S-Corp with no resolution exposure
Single-shareholder S-Corp, clean books, no IRS exposure.
Not sure which path fits your situation? We'll tell you straight.
Free, confidential 15-minute case review with a CPA — no sales pressure, no obligation.
More questions answered
Common questions about business tax preparation
Direct answers to the 2 questions we hear most often from taxpayers researching business tax preparation.
Can you prepare returns when I have no records?+
Yes — we rebuild from IRS Wage & Income transcripts, bank statements, and prior returns. Most cases produce defensible returns even without original records.
Will filing late returns trigger an audit?+
Late filing alone is not an audit trigger. The audit risk comes from the content of the return — accuracy and consistency matter far more than timeliness.
Why Comprehensive Tax Resolution
Why should I hire Comprehensive Tax Resolution for business tax preparation?
Your case is reviewed and led by Franklin Sofi, MBA, CPA, CTRS — backed by a flat-fee engagement, same-day Power of Attorney filing, and 16+ years of direct IRS representation.
- Founder Franklin Sofi, MBA, CPA — Certified Tax Resolution Specialist with 16+ years representing taxpayers before the IRS and ASTPS Gold Member.
- You never speak to the IRS. Power of Attorney (Form 2848) is filed the same day so every call, letter, and Revenue Officer is routed to our office.
- Flat-fee engagements with a written scope. No hourly surprises, no monthly retainers stretching out a case that should close.
References
Sources & further reading
Authoritative primary sources cited or referenced on this page.