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Tax Organizer

Tax Time, Use the Organizer

It’s tax time and time to gather your information.  As 2013 comes to a close and 2014 begins, individuals and entities alike will begin to received tax source documentation this January and it is imperative that recipients utilize a system to organize and maintain these documents.  We at Fragnoli & Company, CPAs can tell you one of the most common correspondence our clients receive from the Internal Revenue Service are differences between reported items in the tax return versus that reported by third parties to the IRS.   These notices not only lead to anxiety within the taxpayer, but they also create costs for services to either respond to the notice or amend the tax returns; not a source of expense our clients want to incur and not a source of revenue we wish to earn.

Many firms, as we do, offer or provide detailed tax organizers to their current and prospective clients.  My experience is that this is a frequently underutilized tool.  We at Fragnoli & Company, CPAs always recommend that the client at least go through the organizer to help them gather the most complete set of source documents as possible.  We do not require our clients to fill in the organizer, some do, but we recommend that they use the document.  Going through a tax organizer will almost always minimize the preparation costs.  It not only gets the taxpayer to organize their information thus expediting the return preparation process, it usually gets the taxpayer to remit all the information in one submission not requiring the tax professional to have to revisit the tax return on multiple occasions to complete and enter additional information.   Also, during the client/ tax preparer conference, the documents and questions will be well organized reducing the conference time.

The point herein is that taxpayers use the services of tax professionals to prepare the most complete and accurate tax return and to provide the best tax consulting services possible and both of those services require the most complete and detailed information the taxpayer can gather.  The organizer is the taxpayer’s best source document for this process.  We at Fragnoli & Company, CPAs highly recommend that the taxpayer use this tool.

For a free tax organizer, contact our office at or (615) 377-0705 and we will forward one to you with no obligation.  Just provide your e-mail address or fax number.