IRS Increases Small Business Penalties For Some Tax Errors

If you’re a small business owner, I highly recommend you read “Small business alert: Beware of stiff penalties for failing to file information returns” by Bill Bischoff.

Don’t get hit by costly U.S. Internal Revenue Service (IRS) penalties for failing to timely file information returns or provide requisite financial statements to third parties. As explained in Bischoff’s article, this includes W-2s, 1099s, K-1s and other IRS forms.

Author Mike Young, Esq.

Internet Lawyer Mike Young provides contracts and other efficient legal solutions to business owners and C-level executives of privately held companies. To get legal advice from Mike, click here to set up your phone consultation with him.

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