Published on: November 2, 2017 Last modified: March 26, 2019

IRS Website Contains Tips for Small Businesses

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    On behalf of Silver Tax Group posted in Back Taxes on Thursday, November 2, 2017.

    There are a number of challenges that small business owners from Michigan must face when it comes to paying taxes. This includes writing off business expenses, calculating self-employment taxes, and organizing receipts and paperwork for inclusion with tax returns.

    The deadlines for filing taxes for business owners may also be different. Plus small business owners may have to file estimated tax returns and payments on a quarterly basis or find themselves in hot water with the IRS.

    There is a page on the IRS website providing tax tips for small business owners. The website includes a link to a calendar listing important filing date deadlines. This page also contains various links providing information for business owners.

    What the IRS website contains

    The information contained can be beneficial for filing returns, but it is not a legal authority. The website includes information regarding employer ID numbers (EINs), information regarding self-employment taxes, and guidance regarding e-filing. It also includes tips regarding organization of tasks, videos, forms, etc.

    What such a website can never provide

    While all of this may prove helpful, such a website will in no way address all of a taxpayer’s concerns. For one, navigating your way around the website may prove difficult. And two, such website pages will not answer a business owner’s legal questions or concerns.

    In light of the complex filing requirements small businesses face, no website can ever replace skilled legal representation. In light of the complex filing procedures owners of small businesses face. It is one thing to look for information regarding filing of a particular form or deadline date. It is another thing to try to locate what steps to take or what options are available when facing levees, wage garnishment, or other collection efforts by tax officials.

    Such penalties can result in the loss of the business and livelihood. It is therefore important to address such issues promptly and appropriately.

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