Preparation of overdue tax returns

Preparation of overdue tax returns starts with identifying the missing periods

If the company has not submitted declarations for some time, first of all it is necessary to determine which specific periods and which declarations are missing. Simply submitting blank or preliminary forms is not the right solution if the accounting data is not yet in order.

Returns must be prepared based on actual accounting data, so it is often necessary to restore accounting for the relevant periods before submission.

What do we check first?

• What declarations should have been submitted.
• Which periods are unsubmitted or incomplete.
• Are all necessary accounting documents available?
• Do the data of the submitted declarations match the accounting.
• Whether corrections to previous declarations are required.
• What work must be done first.

Declarations cannot be handled separately from accounting

If purchase or sale documents, bank details, payroll information or other accounting records are missing, declarations may be inaccurate.

Therefore, we first restore the data required for the declarations and only then prepare the submission or correction.

When is a situation already considered abandoned accounting?

If the problem is limited to a few missing declarations and the accounting data is in order, the work can be done quite locally.

However, if the accounting for several months or years is generally not organized, documents are missing, or there are no reliable balances, a broader accounting reconstruction is required.

How do we sequence the filing of returns?

1. We identify unsubmitted declarations and periods.
2. We are checking whether we have the necessary accounting data.
3. We are restoring or repairing missing data.
4. We prepare declarations based on actual accounting.
5. We are checking for mutual compatibility.
6. We agree the further procedure of periodic declarations.

What if previous returns are incorrect?

First of all, it is necessary to determine for which periods the data is incorrect and what effect the error has on the accounting. It is then possible to decide which accounting records and declarations need to be corrected.

If you doubt not only the declarations but also the accounting data themselves, a check of the accounting records may be useful.

What happens after processing undelivered returns?

Once the previous periods have been resolved, it is important to move to a regular process of documents and declarations, so that the same problem does not recur.

Further accounting can be managed as monthly accounting.