Filing and Paying Your Taxes
By BuildMyBiz on October 3rd, 2012
When some people think of filing and paying their taxes, they panic. Admittedly, the process can be overwhelming. Use the resources below to make filing your federal business taxes easier than ever. Visit the State and Local Tax page for information on how to file your state taxes.
Tax Forms for Filing
The form of your business (such as sole proprietorship, partnership, limited liability corporation) determines which income tax return form you have to file. Select the form of your business below to find out which federal tax forms you need to file:
Both federal and state income taxes are pay-as-you-go taxes. This means you must pay taxes as you earn or receive income during the year. There are two ways to pay-as-you-go: withholding and estimated taxes.
Get Tax Help
There are several resources available to help you file your taxes.
- Guide to Filing and Paying Federal Taxes
Provides information about how to pay your business taxes.
- Filing Late and/or Paying Late: Information You Should Know
Outlines the serious consequences of not paying taxes on time and in the full amount owed.
- Where to File Tax Returns
Gives the correct addresses where to send your tax returns. The type of form you are filing determines where you need to send it.
- Contact the IRS
Offers live help Monday through Friday as well as a 24-hour automated service to answer all your tax questions. There is also the option to contact your local U.S. Internal Revenue Service (IRS) office to get in-person help.
- Taxpayer Advocate
Provides free, independent, and confidential tax assistance to taxpayers unable to resolve their tax problems through normal channels.
Electronic Payment Options – Federal Taxes
Using Electronic Payment for Federal Taxes
Electronic filing of your taxes has some important advantages: It’s quick, easy and accurate. Plus, you can pay online (if you owe) or be notified within 48 hours of your return (if you get a refund). Explore these helpful resources for more about e-filing.
- E-File for Small Business and Self-Employed
Provides information on electronic filing for business returns.
- Electronic Payment Options for Individuals and Businesses
Allows taxpayers to authorize electronic funds withdrawal, use a credit card or enroll in the U.S. Department of Treasury’s Electronic Federal Tax Payment System (EFTPS).
- Electronic Federal Tax Payment System
Enables the payment of federal taxes electronically or by phone for free using EFTPS. Service is available 24-hours a day, seven days a week.
Related Resources for Filing Taxes and Returns
- The Electronic IRS – File, Pay, and More
Provides an overview on a number of electronic options that are available to file and pay your federal taxes.
- Online Classroom
Offers a Small Business/Self-Employed Virtual Small Business Tax Workshop.
- Starting a Business and Keeping Records
Explains basic federal tax and recordkeeping requirements.
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