Discharging Unpaid Withholding Taxes in Bankruptcy

When a business owes unpaid taxes, bankruptcy can provide the business or its owner with a fresh start. The unpaid Federal taxes can be discharged if certain requirements are met. One of these requirements is that the tax returns for the unpaid taxes are filed within certain time periods. But what if there are more…

Answers for Common Small Business Tax Questions

Q: Is an S-Corporation required to pay quarterly estimated tax? Rarely does an S corporation make estimated tax payments. An S Corporation must make installment payments of estimated tax if the total of these taxes is $600 or more: The tax on built-in gains, The excess net passive income tax, and The investment recapture tax. Q:…