While managing quarterly tax requirements may not be the most exciting part of being a business owner, e-filing can make the process significantly easier.

Tax

Optima Tax Relief reminds business owners to minimize the time spend on tax prep by taking advantage of the IRS’s e-filing channels. 

Owning your own business is certainly a part of the American dream for millions of Americans. Working hard to build a business can be one of the most rewarding experiences one may have in their lifetime but so many times, business owners dive in head first and may not truly have a handle on just what it takes to keep their lights on and doors open. A key component of this is understanding how the tax obligations and requirements differ for business owners compared to personal tax obligations.

Unlike personal taxes which are typically filed once a year, business tax returns must be filed quarterly with the IRS. This can be a time-consuming task to manage, not only because of the frequency of filing, but also because of having to manage the accuracy of the information filed. E-filing can help mitigate both the time spent and the potential for errors when it comes to quarterly business tax return filing.

Not only is e-filing convenient and a time-saving way to file quarterly taxes, but it is also the most accurate method for filing business-related returns. E-filing also provides a whole host of additional functionality and features lost with paper returns, including automatic calculations, form population and scheduling. It is also the fastest method of getting returns processed with the IRS. Because of the stringent security standards set by the IRS, e-filing data is consistently transmitted safely and securely. Unlike paper returns, an e-filed return will be verified as received by the IRS within 24 hours of submission.

For those businesses interested in taking advantage of e-filing for submitting their quarterly tax returns to the IRS, there are two options. A business can elect to self-file, and once they purchase an IRS-approved software program and acquire their signature pin, they can begin filing their quarterly tax returns electronically.  Alternatively, a business can make the decision to contract a tax professional to handle their e-filing for them. The Authorized IRS e-file Provider Locator Service is the quick and easiest way to identify tax professionals who offers e-filing services. 

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