August 8, 2020  

IRS Forms and Filing Requirements is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

Small business income taxes are no laughing matter, at least not to the IRS. We discuss the forms and filing requirements that are necessary to keep the government off your back and maintain good standing with the IRS.

IRS Forms and Filing Requirements

  • Settle IRS Tax Debts - Tax debt can be a big burden for small business owners. Not paying taxes or underpaying taxes sometimes seems like the easy answer. But back-interest charges and financial tax penalties quickly add up.
  • Tax Amnesty - Tax amnesty is a golden opportunity for delinquent taxpayers. It's your chance to come clean and pay taxes that you owe but still get a bit of a break from the tax collector.
  • Dealing with IRS Employee Levies - Ignore an IRS employee tax levy notice at your own peril. Failure to respond can result in significant penalties.
  • Tax Forms to File for LLCs - LLCs are a popular organizational structure these days, but come tax time many LLC owners are mystified on which tax forms LLCs must file. We shed some light on tax forms for LLCs.
  • Interest Rate Used By the IRS To Calculate Penalties - Not paying small business taxes to the IRS is not a smart move. You'll end up owing the taxes, plus interest. Here's some information on IRS interest rates for calculating tax penalties.
  • New IRS Form 1099-K - IRS Form 1099-K gives the IRS visibility into revenues that small business owners receive via credit cards, debit cards, gift cards and services like Paypal. The goal is to crack down on businesses that are hiding revenues from the IRS.

  • Schedule C Gross Income - For Schedule C filers, we discuss gross income. What must be declared as income on Schedule C? What do you not have to declare as income on Schedule C?
  • Tax Extensions - If you are pressed for time when taxes are due, consider a tax extension. It's a snap to get a tax extension and there are no tax penalties for buying a little extra time.
  • Paying Small Business Taxes With a Credit Card - On the bright side, you can earn credit card perks such as frequent flyer miles if you pay your taxes with your credit card. But is paying small business taxes with a credit card really a smart move?
  • Benefits of Filing Taxes Electronically - Still filing your business taxes on paper tax forms? It's time to move to electronic tax filing. Here are some of the key advantages of filing taxes electronically.
  • Employer Tax Liability for Unreported Employee Tips - Life is complicated for businesses that employ workers who receive tips. If you don't handle tips properly, you may be in for a nasty surprise when tax season rolls around.
  • Expanded 1099 Reporting Requirements - 1099 reporting is old hat for small businesses. But recent legislation may expand the reach of 1099 filing requirements and significantly increase the reporting burden on American companies.
  • 2011 Small Business Tax Deadlines - Like most businesses, the IRS operates according to an annual schedule. The trick is to synchronize your company's calendar with the small business tax deadlines established by the IRS.
  • How to Pay Small Business Taxes Electronically - The days of paying your small businesses taxes with a paper check are rapidly disappearing. These days, it's more beneficial to learn how to pay your taxes electronically.
  • Common IRS Tax Notices and How to Handle Them - Instead of freaking out the next time you receive a notice from the IRS, just follow a few simple tips about how to handle common IRS tax notices.
  • Federal Income Taxes - Federal taxes can be confusing for new business owners. Learn what your tax obligations are for your new company.




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