IRS
Practitioner
Tax
Center
General Information for Businesses
Small
Business and Self-Employed One-Stop Resource
This section provides general small business information useful in
all industries and professions. It includes links to small business
products, employment taxes, electronic filing and paying, taxpayer
burden reduction, abusive tax avoidance transactions, and many other
topics.
Issue Management Resolution System
The IRS Stakeholder Liaison (SL) function has established the Issue
Management Resolution System (IMRS). When stakeholder organizations
notify the IRS of concerns about IRS policies, practices and
procedures, SL researches the issues to bring about resolution.
Information for Professional and Technical Services
Business Structures
When beginning a business, you must decide what structure to use.
Legal and tax considerations enter into this decision.
Tax Information for Corporations
Information for corporate taxpayers about pre-filing initiatives,
e-file information, Appeals programs, S Corporations, technical
resources, and other pertinent corporate taxation topics.
Corporate Executive Compliance
The Internal Revenue Service is taking steps to improve tax
compliance by corporations and their executive employees. One area
of emphasis is executive compensation, for which audit technique
guides have been developed for use by agents in examining tax
returns filed by corporations and executives.
Businesses with Employees - Paying Yourself
The procedures for compensating yourself for your efforts in
carrying on a trade or business will depend on the type of business
structure you elect. Here are topics that frequently arise when new
business owners ask the Internal Revenue Service questions about
paying themselves.
A
Guide to Information Returns
An information return is a tax document businesses are required to
file to report certain business transactions to the Internal Revenue
Service (IRS). The Information Reporting Program Website is designed
to help you meet your Information Reporting Requirements. Included
are help-line telephone numbers and direct links to aid you in
reporting information returns.
Estimated Taxes
Estimated tax is the method used to pay tax on income that is not
subject to withholding. This includes income from self-employment,
interest, dividends, alimony, rent, gains from the sale of assets,
prizes and awards.
IRS Offers Tips on How to Correct Reporting of Misclassified
Employees
Occasionally, an employer does make an error and classifies an
employee as an independent contractor and has to correct that
mistake. The good news is that the Internal Revenue Service provides
some relief for employers who have made a classification error.
Passive
Activity Losses Audit Technique Guide (PDF)
Prior to 1986, a taxpayer could generally deduct losses in full from
rental activities and trades or businesses regardless of his or her
participation. The Tax Reform Act of 1986, added IRC § 469, which
limits the taxpayer’s ability to deduct losses from businesses in
which he or she does not materially participate and from rental
activities.
Unscrupulous Trust Promoters Target Medical Profession
With the many demands both professionally and personally placed on
you in the medical profession, the last thing you need is to get
your financial affairs in disarray and incur steep penalties because
of unscrupulous tax advisors.