Don't Fall Behind in Paying Your Small Business Taxes

Small and large businesses are
required to make scheduled
reports to the IRS.

Payroll taxes are all taxes that are collected, by federal, state, and local governments, based on salaries and wages paid to employees. These taxes must be withheld from wages by all businesses that have employees. 

These taxes are remitted on a monthly or semi-weekly basis, depending on the quantity owed. 

Businesses are also required to make regularly scheduled reports to the Internal Revenue Service (IRS) and to state and local taxing agencies about the amount of taxes owed and paid. Self-employed persons are responsible for paying their own payroll or income taxes directly to the appropriate taxing entity.

• Call GBC Services today for all your IRS needs at 678-366-9232.

Many small businesses fall behind in paying these taxes or filing the associated reports at some time during their existence. Such an error is, however, very costly because significant interest and penalties apply for late payment or nonpayment of payroll taxes.

READ MORE from Inc.com
Inc.com
Business Taxes 
Tax Withholding 
Electronic Tax Filing
Tax Preparation Software