IRS Forms and Filing Requirements

Having left the W-4 alone for over three decades, the Internal Revenue Service (IRS) redesigned the W-4 Form in 2020. We discuss why we have W-4 forms and everything you need to know about the new 2020 W-4 form.

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 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.

Ignore an IRS employee tax levy notice at your own peril. Failure to respond can result in significant penalties.

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.

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.

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.

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?

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.

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?

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.

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.

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.

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.

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.

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 taxes can be confusing for new business owners. Learn what your tax obligations are for your new company.