Thursday, January 31, 2008

Business Tax Returns

There are several common mistakes concerning business income taxes, and how they file. I think it is almost imperative that business's whether they are Incorported, C-Corp, S-Corp,Sole Prop;an accountant or a accreditted tax firm needs to file their returns.This is especially important when you owe back taxes or you are tax delinquant on any of your 941 payroll taxes,940, or 1099-C Miscellaneous taxes (Estimated Tax Payments).

I am amazed of the number of business's that don't see the need to pay their quarterly payroll roll taxes or estimated taxes if they receive a 1099 -C. I can assure you that you need to refrain from tax debt and find some one who will help see that you remain compliant onal of your 940 and 941 tax returns. There are companies out there that will see you towards your complaincy requirements.

I can assure you that you don't want to be held personally liable for this tax debt. Did you know that this very thing could happen if withhold tax from the government? Unfortunatelly, they will sieze your financial accounts whether you own the company or sign the checks. Anyone who is authorized to sign checks could also be held liable. The IRS is only interested in confiscating what they are rightfully due.

If you need IRS help and are concerned that you may be in trouble for tax evasion, don't hesitate to see help.

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