Small Business Tax Opus

If you have access to a personal computer,
And you got a nice flew with ear:
Save "as is" - it does in cosmic butter
In the sky in great leap-year.

Tax Information for Small Businesses

The IRS publishes a lot of tax information to help small business owners and there are many ways to get it. You can always visit an IRS office to pick up copies of IRS forms and publications, although the IRS continues to make it easier for you to get these materials without leaving your office or maybe even your home.

The IRS will send you forms and publications free of charge when you call them at 1-800-829-3676 with your request. Normally, you will receive the materials within 10 days, although there is another way to get tax materials right away.

If you have access to a personal computer, you can browse and download IRS forms and publications from the IRS Web site at www.irs.gov.You also can get interactive help with your taxes while you're on line. For the latest information on business-related tax topics, click on the "Tax Info for Business" section. You'll find links to other Internet sites that may be helpful for your type of business.

Tax Fax is another way to get business or individual tax forms and instructions instantly. Dial 1-703-368-9694 from a fax machine and follow the voice prompts to get an index of IRS tax forms faxed to you. From this index, key in the catalog number of the form you want faxed back to you.

Some IRS publications that small businesses may find helpful include IRS Publication 334, Tax Guide for Small Businesses, and Publication 910, Guide to Free Tax Services. Publication 910 provides a listing and brief description of 100 IRS tax publications, including publications targeted at specific audiences such as Publication 225, Farmer's Tax Guide, and Publication 595, Tax Highlights for Commercial Fishermen.

IRS Publication 1518, Year 2001 Tax Calendar for Small Businesses, is a wall calendar designed to remind businesses of key due dates for submission of tax forms and payments. It also provides information on general business taxes, electronic filing options, starting a small business, business expenses, record keeping, retirement planning, and business publications and forms.

Your tax questions often can be answered by reading tax publications and related forms, but if you need more information, you may call the IRS, 24 hrs a day, 7 days a week until April 16 at 1-800-829-1040.

Courtesy ARA Content, http://www.aracontent.com.

Tax Advises Poem

Tax Strategist Advises IRS Extensions Due to National Tragedy

Taxpayers and companies whose deadline for tax returns was September 17th or in coming weeks, are being granted extensions by the IRS due to the national tragedy which disrupted lives as well as flight delivery and mail services.

According to CPA and tax strategist Diane Kennedy of TaxCents, a tax education company that helps people make informed tax-advantaged financial decisions from a position of power and knowledge, "With heavy hearts, as we proceed to get back to business as usual, it's important for taxpayers to be aware of the IRS's granting of filing extensions for three categories of people affected by the terrorist attack and the tax filing relief for each." Specific updated information can be found at www.legaltaxloopholes.com. IRS categories are:

Special extensions for (1) victims of the crash, (2) all workers assisting in the relief, and (3) taxpayers who are working within the disaster area:
1. Individual returns on extensions past September 10, 2001 are extended to February 12, 2002.
2. All other returns extended 120 days.
3. Estimated taxes originally due after September 11, 2001 extended to January 15, 2002.

Taxpayers experiencing difficulties because of disruptions in delivery systems in these areas will receive the following extensions:
1. Tax returns due now are extended to November 15, 2001.
2. Payments for these tax returns are due by October 31, 2001.
3. Estimated tax payments have been extended to November 15, 2001.

The third category of affected taxpayers is the broadest and defined as "taxpayers who, regardless of their location, are continuing to experience difficulties in meeting their filing and tax payment requirements on account of events related to the September 11, 2001 terrorist attack."
1.All tax returns and payment of estimated taxes due September 10, 2001 thru September 24, 2001 has been extended to September 24, 2001.

Diane Kennedy, CPA and tax strategist, is co-owner of TaxCents, a tax education company designed to encourage individuals to make informed tax-advantaged financial decisions from a position of power and knowledge. At www.legaltaxloopholes.com TaxCents offers books, tapes, seminars and the latest in what's hot in tax loopholes. Kennedy is author of "Loopholes of the Rich: How The Rich Legally Make More Money & Pay Less Tax." TaxCents can be reached at (866) TAXCENTS.

Courtesy ARA Content, http://www.aracontent.com.