Small businesses and self-employed individuals may encounter some difficulty when figuring out their 2011 tax return. Fortunately, the IRS has created an extensive guide for these groups on their website. It can be found at IRS.gov, their homepage.
On IRS.gov, small businesses and self-employed individuals can research and complete the following:
* Various tax forms
* An EIN application
* Articles on the different aspects of employment taxes
* News reports on tax-related events
* Information regarding educational events
* Instructional Videos
* The A-Z Index – allows you to research information very quickly alphabetically
Indeed, IRS.gov offers an extensive resource for those preparing their taxes independently. It does not matter what stage of business you are in, as these guides are created for all levels, ranging from one-man enterprises to Fortune 500 companies. Although at some point you would want to hire an accountant and a bookkeeper to prepare and file your corporate taxes.
The IRS also has virtual workshops, tax calendars and multimedia presentations to further assist small businesses and self-employed individuals in their 2011 taxes.
IRS Multimedia:
The IRS has several video and audio clips explaining how a person should do their taxes. Their audit series is especially interesting, because it can teach
small businesses and self-employed individuals how to avoid getting flagged for an audit. However, even if they do receive an audit letter from the IRS, they will learn that auditing is not the end of the world.
Virtual Workshops:
The virtual workshops on IRS.gov are designed to teach taxpayers about their legal rights. They are distributed as 9 stand-alone guides that can be read in any order. You can also purchase a CD version, if you do not want to view the information online but would rather listen as you commute or travel.
The Tax Calendar:
The tax calendar lets you know about various filing dates in the tax year. It also comes with additional information, ranging from how to use the IRS’s customer service department to different payment options you have.
If you want to participate in an IRS tax event, you can download a new set of reminders to let you know when they are taking place. Indeed, with the IRS tax calendar, you should have no problems remembering important deadlines like estimated taxes and payroll tax deadlines.