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IRS.gov Website

Frequently Asked Tax Questions

Small Business, Self-Employed, Other Business - Starting or Ending a Business

  1. I am starting a small business. What assistance can the IRS give me?
  2. How do I find out if my business needs to collect sales tax?
  3. I just started a small business and want to know if I have to file my income taxes quarterly or at the end of the year?
  4. What is the due date for business returns?
  5. I am closing my business. Does the IRS offer any information on what to consider when closing a business?

Rev. date: 12/18/2014

I am starting a small business. What assistance can the IRS give me?

When you’re running a business, you don’t need to be a tax expert, but you do need some tax basics. We give you the information you need to stay tax compliant so your business can thrive. Put our knowledge to work for you:

Rev. date: 12/18/2014

How do I find out if my business needs to collect sales tax?

Your question is a state tax question. Your state revenue department should provide information regarding sales tax to you. To access the state you need to direct your question to, please see State Links.

Rev. date: 12/18/2014

I just started a small business and want to know if I have to file my income taxes quarterly or at the end of the year?

You file a federal income tax return annually, but the federal income tax system is a pay-as-you-go system.
If your business is a sole proprietorship or an unincorporated single member LLC with you as the sole owner, the income is attributable to you personally. If your business is a partnership, an unincorporated multi-member LLC, or an S corporation, the ordinary business income passes through to members and is attributable to them on their personal returns.
If you expect to owe more than the amount allowed by law at the end of the year after deducting any withholding and refundable credits:
When you file your income tax return at the end of the year:
Generally, all other corporations must make installment payments if they expect their estimated tax for the year to be $500 or more. All corporations, except for most S corporations, will use Form 1120-W (.pdf), Estimated Tax for Corporations, as a worksheet to figure each required installment of estimated tax.

Rev. date: 12/18/2014

What is the due date for business returns?

Some business entities’ income tax returns have due dates other than April 15. The instructions for the each type of form used will note the appropriate due date(s):

Rev. date: 12/18/2014

I am closing my business. Does the IRS offer any information on what to consider when closing a business?