You know the headache of missed deadlines—financial penalties, lost opportunities for lowering your tax burden, and falling further behind on your tax schedule. Accounting due date tracking software can mitigate deadline slippage, but what exactly should it be able to do? Keep reading to see exactly what questions you should seek answers to when looking for the right deadline tracking solution.
Property Tax Deadline Tracking Software: 5 Must-ask Questions
1. Does it collect assessor deadlines automatically so you know when returns are due?
You typically have to research each assessor’s website to acquire the right forms, addresses, and deadlines. This can be a time-consuming task when you deal with hundreds of assessors. Look for tax return due date tracking software that collects this information for you, saving you valuable time.
It’s also important that your chosen solution be flexible enough to work with extended deadlines. Most jurisdictions allow you to request an extension for returns, so your software should address this need as well. Once your extension is approved, you should be able to update the return deadline to reflect the new date.
2. Does it track appeal deadlines?
Like return deadlines, notice of appeal deadlines are set by assessors. When you receive your notice, your due date monitoring software should track your last day to appeal the same as it does as your last day to submit a return.
3. Does it track tax bill due dates?
You can be penalized for paying your bill late—either a flat rate or a percentage of the original tax due. Tax deadline tracking software can help you avoid this, but it needs to do more. Specifically, it should address the need to track any supplemental bills that fall outside the normal bill cycle.
Supplemental bills are sent in response to a change in ownership, new construction, or a completed property tax audit and can be sent at varying points throughout the year; these bills tend to lag well behind the filings they are associated with, sometimes even arriving years after the related filing!
Check out the screenshot below of TPT’s calendar feature, which showcases one company’s collection of deadlines for returns, notices, and bills for the month.
4. Does it enable you to create tasks?
Choose a solution that not only tracks due dates but also doubles as task tracking software. Creating and assigning tasks are crucial for keeping up with your tax schedule. For example, if you recently had a rejected appeal, you should be able to set a task to check for a supplemental bill.
5. Does it allow you to filter due date entries?
Sometimes you want to focus on one tax aspect at a time, so your chosen solution should include a calendar filter to show dates related to returns, notices, appeals, and bills.
Interested in seeing a demo of TotalPropertyTax due date monitoring software so you can stay ahead with property taxes? Set up a time today!