When it comes to business taxes, it doesn’t pay to mess around with what’s due to the IRS. They don’t have a sense of humor about getting payments in on time and can take steps against the business, including charging interest, adding penalties or even freezing accounts if it comes to it.
In this article, we cover the steps to take when a business is struggling to pay its taxes.
1. Confirm the Due Dates for Federal Income Taxes
There’s a tax return date based on the type of business structure.
For federal taxes (state ones may be different), the tax return data for filing is also the payment date for the taxes too.…Continue reading