MOUNTAINSIDE — For many citizens, owning and running a successful business is part of the American dream. And while most Americans take the day off in celebration of Labor Day, the Internal Revenue Service is ready to assist the nation’s small business owners and self-employed taxpayers.
For business owners, holidays are normally time to catch up on paperwork, do record keeping and work on tax information. But few business owners are tax experts and the IRS is prepared to help. Free publications, internet resources and electronic services are available to make their work easier – perhaps for them to enjoy the Labor Day holiday.
“Running a business is a big responsibility requiring long hours and the IRS wants to help ease the process for this hard working group of taxpayers,” said New Jersey’s IRS spokesperson Gregg Semanick. “Whether a person is just considering opening a business or has years of small business experience, IRS provides a wide range of tools and educational assistance to help the business owner succeed.”
The small business section of IRS.gov provides a one-stop resource for information on starting, operating, or closing a business. On this site taxpayers can:
• Learn about employment tax requirements.
• Make tax payments.
• Find out how to set up and distribute retirement plans.
• View a streaming video of a small business tax workshop.
• Access free products such as a tax calendar or small business resource guide.
IRS.gov is also the gateway to a host of electronic services for small businesses including business e-file and the Electronic Federal Tax Payment System (EFTPS). E-Filing options include employment taxes, information returns, partnerships and corporations. EFTPS is an alternative to paying taxes by check or money order. Small businesses can make payments 24 hours a day, seven days a week using EFTPS.
The “Small Business and Self-Employed Tax Center” section of IRS.gov enables small business owners and self-employed individuals to access information using the “A-Z Index for Business” searching topics in alpha or category order such as business types, business expenses, and employees.
Over the past few years, The IRS.gov web site has provided new options for communication between the IRS and small business owners and the self-employed. But IRS employees are still available by phone. For telephone assistance with tax issues, small businesses may call 1-800-829-4933.
Small business owners and self-employed taxpayers are also encouraged to sign up for e-News for Small Businesses, an electronic subscription newsletter that brings timely, useful tax information right to their computer including:
• Important upcoming tax dates
• What’s new on the IRS Small Business/Self-Employed Web site
• Reminders and tips to assist small businesses with tax compliance
• IRS news releases and special IRS announcements
For more information about the resources and services the IRS has for small business and self-employed taxpayers, visit IRS.gov. The IRS web site link for the “Small Business and Self-Employed Tax Center” is www.irs.gov/smallbiz .
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