Taxes Are Complicated. Getting Help Shouldn't Be.

Yes. Centennial Accounting Group provides professional tax preparation and ongoing tax support for individuals and businesses throughout Colorado, including Denver, the Denver metro area, and clients across the state who prefer to work with us remotely.

Our work covers federal and Colorado state filing requirements, and we regularly assist clients with more involved situations such as business ownership, rental property, investment income, multi-state activity, and prior-year filings.

Because our team handles both accounting and tax work, we are able to look at the complete financial picture rather than treating the annual return as an isolated task.

Yes. We serve individuals, families, and businesses throughout Denver and the surrounding metro area, and our office is located in Cherry Creek.

Clients looking for a Denver tax professional can work with our team on individual income tax returns, business tax preparation, tax planning, prior-year filings, IRS correspondence, and other federal and Colorado tax matters.

Meetings can be held in person at our Denver office or handled remotely through our secure document portal, whichever is more convenient for you.

Yes. Centennial Accounting Group prepares federal and Colorado returns for both individuals and businesses.

On the individual side, this includes returns involving wages, self-employment income, investment and retirement activity, rental real estate, and other common and less common situations.

On the business side, we prepare returns for LLCs, partnerships, S corporations, and C corporations, and we can coordinate the business return with the owner's personal return so the two are consistent.

Yes, and for business owners this is often the most effective arrangement. When the same firm sees both sides of your tax picture, it is easier to keep entity-level and individual-level reporting consistent and to spot planning opportunities that affect both.

Our team will review your entities, ownership structure, and individual filing requirements to determine the appropriate scope of the engagement before any work begins.

You will receive a written quote covering exactly which returns and services are included, so there are no surprises about scope.

Yes. We prepare S corporation federal and Colorado returns for businesses throughout the state, including Denver-area companies.

S corporation filings involve more than the annual return itself. Reasonable compensation, shareholder basis, distributions, and payroll reporting all interact with the return, and our team reviews these areas as part of the engagement where relevant.

For clients who also engage us for year-round accounting or tax planning, we can monitor these items throughout the year rather than only at filing time.

Yes. We work with partnerships, multi-member LLCs, and other pass-through structures that carry federal and Colorado filing requirements.

Partnership returns in particular require careful attention to partner allocations, capital accounts, and basis tracking. Our team reviews the operating or partnership agreement alongside the books so the return reflects how the business actually operates.

We also prepare the partner K-1s and can coordinate with individual partners who engage us for their personal returns.

Yes. Centennial Accounting Group provides corporate tax preparation and related tax support for C corporations and other business entities.

Corporate returns often involve additional considerations such as officer compensation, retained earnings, estimated tax payments, and state apportionment for companies operating beyond Colorado.

We will review your situation during the initial consultation and confirm the exact scope and fee in writing before work begins.

In many cases, yes. If you have prior-year federal or Colorado returns that were never filed, the first step is a review of the years involved, the records available, any business entities, and the filing requirements that apply to each year.

From there we can help you understand the order in which to address the years, what documentation will be needed, and whether transcripts or other IRS records should be requested to fill gaps in your records.

Getting current on unfiled returns is often the necessary first step before any resolution of balances owed can be discussed, so it is worth addressing sooner rather than later.

Yes. Centennial Accounting Group provides proactive tax planning for individuals and businesses throughout Colorado.

A planning engagement may include reviewing your business structure, estimated tax obligations, timing of income and deductions, retirement contributions, entity considerations, and other factors specific to your situation.

The goal is to make informed decisions during the year, while options are still available, rather than discovering missed opportunities when the return is prepared.

Yes. We work with business owners throughout Denver and Colorado who want to take a proactive approach to taxes instead of waiting until filing season.

For owners, planning often covers reasonable compensation, retirement plan options, timing of equipment purchases, estimated payments, and how growth or a change in structure would affect the overall tax picture.

Planning works best as a conversation during the year, so we encourage business owners to reach out well before year-end.

Tax preparation is backward-looking: it focuses on accurately preparing and filing the required federal and state returns based on activity that has already occurred.

Tax planning is forward-looking. It involves evaluating potential tax considerations before year-end or before significant business and financial decisions are made, while there is still time to act on them.

Most clients benefit from both. Preparation keeps you compliant; planning helps you make better decisions going forward. The two services complement each other and are often most effective when handled by the same firm.

Earlier is almost always better. Tax planning can be valuable at any point during the year, but many strategies must be in place before December 31 to affect the current tax year.

Waiting until the return is being prepared limits the options available, because most transactions and decisions have already occurred by that point.

If you have experienced a significant change — starting a business, a large increase in income, a property sale, or a major investment — that is a natural time to schedule a planning conversation.

Yes. Our tax professionals can review your business structure, income level, payroll considerations, administrative costs, and other relevant factors to discuss whether an S corporation election may be appropriate for your circumstances.

An S election is not automatically beneficial. It introduces payroll requirements, reasonable compensation rules, and additional filings, so the decision should be based on the actual numbers in your business rather than general rules of thumb.

We will walk through the analysis with you and explain the trade-offs before any election is made.

Yes. If you have received an IRS notice or letter, our team can review the correspondence, determine exactly what the IRS is requesting or proposing, and discuss the potential next steps with you.

Many IRS letters are routine — a proposed adjustment, a request for documentation, or a math correction — but they all carry response deadlines that should not be missed.

Bring or securely upload the complete notice, including all pages, when scheduling your consultation so we can review the full context before responding.

Yes. Centennial Accounting Group assists businesses and individuals with certain Colorado Department of Revenue notices and state tax matters.

The first step is reviewing the notice alongside the underlying filing or accounting records, so we can determine whether the state's position is correct, partially correct, or based on missing information.

As with IRS correspondence, state notices carry deadlines, so it is best to have them reviewed promptly.

The appropriate next step depends on the amount owed, the tax periods involved, your filing status, whether all required returns have been filed, and your overall financial circumstances.

In general, becoming filing-compliant is the first priority, because most resolution options are not available while returns remain unfiled.

Our team can review the situation, obtain or review account transcripts where appropriate, and help you understand the potential compliance and resolution options before you commit to a course of action.

We can review the underlying tax matter and determine whether there may be options available for addressing penalties, such as reasonable cause relief or first-time abatement, depending on the circumstances.

Eligibility depends entirely on the specific facts — the type of penalty, your compliance history, and the reason the issue occurred — and no particular outcome can be guaranteed.

Interest generally continues to accrue on unpaid balances, so addressing the underlying liability promptly is usually the most effective way to limit the total cost.

Where legally permitted and properly authorized, qualified tax professionals may communicate with the IRS regarding certain tax matters on a client's behalf.

This typically requires a signed authorization form, and the scope of what we can do depends on the type of matter and the professional credentials involved.

During your consultation we will explain what level of representation is appropriate for your situation and what authorizations would be needed.

Yes. Centennial Accounting Group assists clients facing certain IRS examinations and tax audits.

The process begins with a careful review of the IRS correspondence, the tax return involved, the supporting documentation available, and the specific issues being examined.

From there we can discuss the appropriate scope of assistance — whether that is helping you organize a response, preparing documentation, or representing you in the examination where authorized.

Do not ignore the notice. Review the response deadline immediately and preserve the complete correspondence, including the envelope if it is available.

Before responding substantively, it is wise to have a qualified tax professional review the notice, the return being examined, and the documentation you have. An early review can prevent avoidable mistakes, such as volunteering information beyond the scope of the examination or missing a deadline.

Centennial Accounting Group can review the situation and discuss potential next steps with you before anything is submitted to the IRS.

Centennial Accounting Group provides tax audit support and, where appropriate and legally permitted, representation for clients in Colorado and beyond.

The scope of representation depends on the type of examination, the tax years involved, and the issues being reviewed. Some examinations are handled entirely by correspondence, while others involve direct interaction with an IRS examiner.

We will explain what level of involvement is appropriate for your specific matter during the initial review.

Yes. Individuals and businesses looking for IRS audit assistance in Denver can contact Centennial Accounting Group to have their notice and tax situation reviewed.

We serve clients throughout Denver, the Denver metro area, and Colorado, and meetings can be held in person at our Cherry Creek office or handled remotely.

Because audit notices carry firm response deadlines, we recommend reaching out as soon as the notice arrives rather than waiting.

Start with the complete IRS notice — every page — and a copy of the tax return for the year being examined.

Depending on the issues under examination, additional records may include bank statements, receipts, invoices, payroll records, accounting reports, business records, asset documentation, mileage logs, or other supporting material.

You do not need to have everything organized before the first meeting. Our team can identify which records are actually relevant to the specific issues being examined and help you build a complete response.

You have the option to handle many IRS matters yourself, and for very simple correspondence that can be reasonable. Audits, however, often involve detailed requests for records and explanations, and the way the initial response is framed can shape the rest of the examination.

A tax professional can review the notice and help you understand exactly what is being requested before you decide how to respond.

Even if you ultimately respond yourself, an initial professional review is a relatively small step that can help you avoid common and costly missteps.

Federally authorized tax practitioners, including Enrolled Agents, may have authority to represent taxpayers before the IRS, subject to applicable rules and authorization requirements.

Enrolled Agents are licensed directly by the U.S. Department of the Treasury and their credential is focused specifically on federal taxation.

Centennial Accounting Group will determine the appropriate professional involvement based on the nature of your matter and explain it to you before any engagement begins.

An IRS examination generally involves the IRS reviewing specific items on a tax return and requesting supporting documentation or explanations for those items.

The exact process depends on the type and scope of the examination. Many matters are handled entirely through correspondence, while others involve meetings or more direct interaction with an IRS examiner.

At the conclusion, the IRS will either accept the return as filed or propose adjustments, which the taxpayer can agree with or challenge through established appeal procedures.

There is no single timeline. The duration depends on the type of examination, the complexity of the return, the number of issues being reviewed, how quickly the parties respond, and IRS processing timelines.

Straightforward correspondence examinations can sometimes be resolved in a matter of months, while more complex field or business examinations can take considerably longer.

Responding promptly and providing well-organized documentation is one of the few factors within a taxpayer's control, and it generally helps keep the process moving.

Yes. We can review business-related IRS examination notices and the underlying accounting and tax records to determine the appropriate scope of assistance.

Business examinations often reach beyond the return itself into bookkeeping records, business expenses, payroll, asset purchases, shareholder activity, and related-party transactions.

Because Centennial Accounting Group handles both accounting and tax work, we are well positioned to reconcile the books to the return and prepare the documentation an examiner will request.

Yes. Centennial Accounting Group assists businesses facing certain Colorado state and local sales tax audits.

The first step is reviewing the audit notice, the periods under examination, sales records, previously filed returns, accounting records, and the auditor's specific requests.

Colorado's sales tax system involves both state and local jurisdictions, so understanding exactly which jurisdictions and periods are being examined is an important part of scoping the response.

Yes. Businesses operating in Denver may have both state and local tax compliance considerations, and Denver administers its own sales tax separately from the state.

Our team can review the specific audit notice, identify which jurisdiction is examining which periods, and determine what accounting and tax records will be required.

If your business has locations or sales in multiple Colorado jurisdictions, we can also help you understand how the different requirements interact.

Potentially, yes. Colorado's state and local sales tax system can involve multiple jurisdictions with different rules, and some cities administer their own taxes independently.

Centennial Accounting Group can review the jurisdiction involved, the audit period, your filings, and your accounting records, and then determine the appropriate scope of assistance.

Because local requirements vary, each notice needs to be evaluated on its own facts rather than against a single statewide standard.

The requested documentation varies by audit, but it commonly includes the categories listed below.

The actual records required should be determined from the auditor's request and the specific circumstances of the examination — providing well-organized, reconciled records is generally more effective than submitting raw data in bulk.

• Sales reports
• Invoices
• Bank statements
• General ledger activity
• Sales tax returns
• Exemption documentation
• Customer records
• Purchase records
• Accounting reports
• Supporting transaction documentation

Pay close attention to the response deadline and preserve all correspondence. Note which jurisdiction issued the notice and which periods it covers.

Before submitting large amounts of accounting data, consider having the audit request reviewed so you understand the periods, entities, accounts, and transactions being examined. A scoped, organized response is usually better than a bulk data dump.

Our team can review the notice and your records and help you plan the response before anything is submitted.

Yes, and this is a common situation. If the accounting records contain unresolved balances, unreconciled accounts, duplicate transactions, incorrect classifications, or other material issues, cleanup is usually recommended before the business tax return is finalized.

Filing from unreliable books increases the risk of errors on the return and makes the filing harder to support if it is ever questioned.

Centennial Accounting Group provides both accounting and tax services, so the cleanup and the return can be coordinated within one firm when both are included in the engagement.

Business tax returns are built almost entirely from the company's accounting records. If the books are incomplete or inaccurate, the return inherits those problems.

Accurate bookkeeping and regular reconciliations support reliable financial statements, give the tax preparer dependable underlying information, and make it far easier to respond to any questions from the IRS or the state.

Clean books also tend to reduce the time — and therefore the cost — of preparing the return itself.

Yes. Centennial Accounting Group is a full-service accounting and tax firm.

Depending on the engagement, clients can work with us for monthly accounting, bookkeeping, tax preparation, tax planning, sales tax support, tax resolution, and advisory services.

Combining these services under one roof means the people preparing your return already understand your books, which reduces duplicated effort and the back-and-forth that often happens when accounting and tax are split between different providers.

In many cases, yes. Multi-state filing requirements depend on where you live, where you work, where you own businesses or rental property, and where your income is generated.

Colorado residents generally report their worldwide income to Colorado, with credits or adjustments that may apply for tax paid to other states — but the details depend on the states involved and the type of income.

Our team can review the facts of your situation and determine which filing requirements apply before any returns are prepared.

Yes. We work with businesses that have accounting and tax obligations across multiple jurisdictions.

Multi-state situations should always be reviewed individually, because filing, registration, and apportionment requirements vary significantly from state to state, and activities such as remote employees, inventory, or sales volume can create obligations in states where the business has no physical office.

During the initial consultation we will map out where your business operates and identify which state filings may be required.

An Enrolled Agent is licensed by the IRS, holds unlimited practice rights, and can represent taxpayers before the IRS in any state on any tax matter.

Yes. Extended 2025 individual returns are due 15 October 2026. We also prepare prior-year and amended returns after that date.

No. The whole process works remotely through the SmartVault portal and a video or phone review call. You are welcome at the Cherry Creek office if you would rather meet in person.

Through SmartVault, our secure client portal. Please do not email tax documents.

Last year's return, your income documents, and anything that changed this year. You get a checklist specific to your situation after the review.

That is common and it is fixable. We prepare the missing years oldest first, and in many cases a first-time penalty abatement is available.

Yes. Colorado is the everyday work, and we handle multi-state returns for clients who moved or earn income elsewhere.

Most individual returns are prepared within one to two weeks of receiving complete documents. Business returns depend on the condition of the books, and we tell you the timeline at the quote.

Send it to us. Most notices are routine. We handle the correspondence at no additional charge, and an Enrolled Agent can represent you if it goes further.

Yes. We review the original return first so we can tell you whether amending actually helps before you pay for it.

No, and be careful with anyone who does. Your refund is determined by your facts and the law. What we guarantee is an accurate return, a written quote before work starts, and someone who will defend it.

Both can represent you before the IRS without limitation. An Enrolled Agent is licensed federally by the IRS and specialises in tax. A CPA is licensed by a state board and can also perform audits and attest work, which an Enrolled Agent cannot.

It changed mid-year. 72.5 cents per mile from 1 January through 30 June 2026, and 76 cents per mile from 1 July through 31 December. This was the first mid-year adjustment since 2022.

The failure-to-file penalty is 5% of the unpaid tax per month, capped at 25%. The failure-to-pay penalty is 0.5% per month, also capped at 25%. An extension moves the filing deadline but not the payment deadline.

For 2025 it is $15,750 single, $31,500 married filing jointly, and $23,625 head of household. For 2026 it rises to $16,100, $32,200 and $24,150.

Sometimes. It can cut self-employment tax, but it requires running payroll, paying reasonable compensation and filing a separate return. Below a certain profit level the cost exceeds the saving. We model it before recommending it.

Nothing. You keep the written scope and the checklist from the review, and there is no follow-up sequence. If your return is simple enough that you do not need us, we will say so during the call.