5. Tax Documents

5a. Tax Documents: Updating the year OR linking the business name to taxes) 

  1. Click the “IF REQUESTED: Additional Application Changes” section of your application to create this change. 

  2. Years you may need to upload include: 

    a. 2021 

    b. 2022 

    c. 2023 (if your 2022 taxes show revenue of more than $750,000) 

  3. The business name on the application must ◾◾ MATCH the business name on the uploaded taxes.  

  4. Tax documents must be a full, filed tax return. 

  5. You will need to upload the same tax return that you sent to the IRS, displaying your full TIN/ EIN or SSN on the return. 

    a. 🚫WE CANNOT ACCEPT a client copy 

  6. Taxes should also include only one of the following tax forms for each year. 

    a. 1040 Schedule C*  

    For those with Multiple Schedule C Tax Documents, select only ONE 1040 Schedule C document. 

    b. 1120-C 

    c. 1120-S 

    d. 1120 

    e. 1065 

  7. Plan to ⬆️ UPLOAD your Taxes as a 🗎 SCANNED PDF. 

    a. Use an app such as Turbo Scan, Cam Scanner or 🔗this tutorial for Google Drive to scan your Proof of Operating Document. 

    b. Ensure your scan includes all pages and edges of your documents, and is a clear, non-blurry scan. 

  8. ⬆️ UPLOAD your FULL tax return to the “IF REQUESTED: Additional Application Changes” section of your application including: 

    a. Corresponding business tax documents noted in steps #7 and #8 above. 

    b. All forms and schedules related to the business you are applying for. 

    c. Your full Social Security Number, which must be visible. 

  9. 💾 SAVE your changes on your application, finish ALL needed changes before you hit ✅ SUBMIT. 

5b. Tax Documents- Multiple 1040 Schedule C Documents 

  1. Click the “IF REQUESTED: Additional Application Changes” section of your application to create this change. 

  2. For those with Multiple 1040 Schedule C Tax Documents: 

    a. Select only ONE 1040 Schedule C document. 

    b. Your full, filed return, can only include ONE corresponding Schedule C document associated with the business you are applying for. 

    Please review the program guidelines to understand how your preference score and grant award might change depending on the 1040 Schedule C you use. 🔗https://www.mnpromiseact.org/award-chart 

    In the Additional Application Changes section in the application portal, upload both years of your selected 1040 Schedule C to the tax year files. 

  3. The business name on the application must ◾◾ MATCH the business name on the uploaded taxes, including your 1040 Schedule C. 

  4. Plan to ⬆️ UPLOAD your Taxes as a 🗎 SCANNED PDF. 

    a. Use an app such as Turbo Scan, Cam Scanner or 🔗this tutorial for Google Drive to scan your Proof of Operating Document. 

    b. Ensure your scan includes all pages and edges of your documents, and is a clear, non-blurry scan. 

  5. ⬆️ UPLOAD your FULL tax return to the “IF REQUESTED: Additional Application Changes” section of your application including: 

    c. Your corresponding business tax documents noted in steps #2 above. 

    d. All forms and schedules related to the business you are applying for. 

    e. Your full Social Security Number, which must be visible. 

  6. 💾 SAVE your changes on your application, finish ALL needed changes before you hit ✅ SUBMIT.