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Rocket Wave, Inc.

US Federal Tax Return Filing Policies & Documents Submission Guide

1. Overview
All U.S. business entities—including Single-Member LLCs, Multi-Member LLCs, and Private Corporations—must comply with federal, state, and local tax filing obligations. Failure to comply may result in penalties, interest assessments, or loss of authorization to operate. These policies govern all federal tax preparation and submission procedures handled through Rocket Wave, Inc.
2. Corporate Federal Tax Filing Requirements
A corporation may be required to file and pay taxes to federal, state, and local jurisdictions. Corporations must also comply with requirements for collecting and remitting employment-related taxes.
3. Corporate Tax Classifications

3.1 C Corporations (Subchapter C)
C Corporations must file federal corporate income tax returns and are subject to double taxation on income and dividends.

3.2 S Corporations (Subchapter S)
S Corporations do not pay federal tax at the entity level. Income passes through to shareholders. Eligibility requirements and full shareholder consent are mandatory.

4. Withholding, Payroll, and Employment Tax Requirements

4.1 Federal Withholding & FICA
Employers must withhold federal income tax, Social Security, and Medicare contributions, remit taxes through approved channels, and issue annual Forms Wâ– 2.

4.2 State Income Tax Withholding
Where applicable, employers must withhold and remit state income taxes per state regulations.

5. Document Submission Guide
  5.1 Financial Statements
  • Profit & Loss Statement
  • Balance Sheet
  • Bank and credit card statements (full year)
  5.2 Corporate Records
  • Articles of Incorporation/Organization
  • Prior-year tax returns
  • Shareholder/member ownership records
  • Payroll and employment records
  5.3 Income & Revenue Documentation
  • Income statements
  • Gross receipts documentation
  • Forms 1099-MISC / 1099-NEC
  • Merchant and POS statements
  5.4 Expense & Deduction Documentation
  • Receipts for deductible expenses
  • Asset purchase/sale records
  • Depreciation schedules
  • Charitable contribution receipts
6. Document Submission Process

1. Upload all documents securely through the Rocket Wave, Inc. client portal.

2. A designated accountant will review, request additional information if needed, and prepare all required tax returns.

3. Upon client approval, all filings will be electronically submitted and confirmation copies provided.

If you face any difficulties understanding any of the policies or submission procedure feel free to reach out to Rocket Wave, Inc. for assistance. Create a Support Ticket or Send us an email to [email protected]