Tax Tips for Entrepreneurs
IRS Resources for Small Business Owners
Believe it or not, the IRS wants your small business tax filing experience to be as easy as possible â€" and they offer a range of online resources to help take the pain out of business tax reporting.
Small business owners face a barrage of tax reporting requirements.
In addition to their personal income tax filing requirements, sole proprietors need to navigate Schedule C, Schedule SE and possibly employment tax requirements. For other business structures, tax reporting can be even more demanding.
But at the end of the day, the IRS expects business taxpayers to provide accurate returns, timely payments, and compliant reports. To help you meet your obligations, the IRS offers no shortage of online resources to support your efforts. Although it isn't exhaustive, the following list will help you identify some of the IRS resources that are most helpful to small business owners.
- Small Business Tax Center. Small business taxpayers should begin by researching questions at the Small Business/Self-Employed Tax Center on the IRS website: www.irs.gov. This section of the site is full of information that is relevant for self-employed individuals and small business employers. It even contains video series designed to educate you about small business tax requirements in a methodical, self-paced instruction environment.
- E-News for Small Businesses. E-News for Small Businesses is a free, subscription-based newsletter that arrives in your inbox every other Wednesday. In addition to informing you about small business tax developments, this newsletter provides facts and information about the issues that commonly affect small business taxpayers.
- Small Business Events. The IRS hosts a range of events geared toward small businesses. These events can take the form of workshops, phone forums, or webinars – but they are all designed to help small business taxpayers gain a more thorough understanding of their federal tax responsibilities.
- The Business & Specialty Tax Line. Business taxpayers and others who are experiencing difficulty with their returns or filing requirements are encouraged to call the IRS Business & Specialty Tax line at 1-800-829-4933. This help line focuses on the needs of small business taxpayers and can provide assistance for common (and not-so-common) tax-related questions.
- Forms & Publications. The availability of IRS forms and publications online is one of the most valuable resources the IRS offers to taxpayers. Although you can still acquire paper forms and instructions by request, the IRS and taxpayers generally prefer to access these documents online. All IRS forms and instructions can be downloaded directly from the IRS website at www.irs.gov.
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Additional Resources for Entrepreneurs