SBA Examination of Taxes
Accepted Tax forms include:
Business Tax Returns (Form 1120 or 1065)
- Form 1120: Used for C-corporations.
- Form 1065: Used for partnerships and LLCs taxed as partnerships.
Personal Tax Returns (Form 1040)
- Form 1040: For each owner with a significant stake in the business.
Schedule C (Form 1040)
- Required for sole proprietors and single-member LLCs.
Form 4506-T (Request for Transcript of Tax Return)
- This form allows the lender to request tax transcripts directly from the IRS.
Form 8821 (Tax Information Authorization)
- Provides authorization to disclose tax information to third parties, including the lender.
Form 941 (Employer's Quarterly Federal Tax Return)
- Details payroll tax information.
Form 940 (Employer's Annual Federal Unemployment Tax Return)
- Reports annual Federal Unemployment Tax Act (FUTA) tax.
Form 1099 Series
- For contractors and freelancers, various 1099 forms may be required.
Form W-2 (Wage and Tax Statement)
- Provides wage and salary information for employees.
State and Local Tax Forms
- Depending on the state, additional state and local tax forms may be required.
Form 4506-C (Short Form Request for Individual Tax Return Transcript)
- An alternative to Form 4506-T, used to request individual tax return transcripts.
