Mount Laurel, NJ: Tax Relief Options for Small Business Owners

By
Industry Observer with OnPoint Resolution LLC

It does not matter if you operate as a sole proprietor and use Schedule C to claim your income or if you are set up as a C-corporation, S-corporation or LLC - the IRS is watching what you do, and if they think you are not paying your fair share they will certainly come calling. When that demand letter from the IRS arrives, knowing what to do next can make all the difference, and the more you educate yourself the easier it will be to deal with, and eliminate, the tax debt.

If you are running a small business, you have one unwanted partner that will dig into your pocket every year, it’s the IRS. The IRS wants to know what you are doing, how much you are earning and most importantly how much you are paying in taxes, and the tax agency is becoming increasingly aggressive in this regard. While the audit rate for individual returns has been hovering at far less than 1%, the audit rate for small businesses can be as much as 10 times higher.

Small business owners are increasingly the target of enforcement efforts by the IRS, but the IRS does have some programs in place to make paying what those business owners owe easier. In some cases those small business tax relief and tax resolution programs let you settle for less than what you owe but qualifying is not as straightforward as you might think.

As a tax resolution firm, we always recommend that you reach out to a professional who knows how to aggressively negotiate and defend you against the IRS on your behalf. If you owe back taxes or are under audit, our firm can help negotiate with the IRS and potentially settle your tax debt

If you or someone you know owes back taxes, please feel free to contact me at either (973) 840-7350or by email at onpoint@onpointresolution.com

Fanta Kaba

OnPoint Resolution, LLC

309 Fellowship Road, suite 200

Mount Laurel, NJ 08054

Tel. 973-840-7350

onpoint@onpointresolution.com

www.onpointresolution.com

 

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