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IRS Urges Small Businesses, Self-Employed to Use E-File WASHINGTON, Mar. 12, 2003 The Internal Revenue Service on Tuesday urged the nation's 33 million self-employed individuals and seven million small business taxpayers to consider IRS e-file and numerous other new electronic options available to them for the first time this year. The expanded options are part of the IRS's effort to enhance electronic filing opportunities to business taxpayers. Since four out of five small business and self-employed taxpayers use tax professionals, the IRS is also sending its e-filing message to tax preparers and posting more forms electronically each year. In addition to the Forms 940 and 941, many business-related schedules also can be filed electronically such as Schedule K-1 (Form 1065) for partnerships and Form 1041, the fiduciary income tax return. "Conducting business with the IRS electronically can pay off for self-employed and small business taxpayers. You can save time and paperwork which means you also save money," said Acting IRS Commissioner Bob Wenzel. "Entrepreneurs should jump on the electronic bandwagon." 2003 SmartPros Ltd. All rights reserved. |
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