Business.gov Provides Federal Forms for Employers Facing January Tax Reports.Helps Businesses Save Time and Money on Tax-Related Tasks WASHINGTON -- Each January businesses bear responsibility for preparing W-2s and other tax-related employer tasks, an especially challenging duty for small businesses with fewer resources than larger businesses. Self-employed business owners also face their final estimated tax Federal and state tax laws require a quarterly payment of estimated taxes due from corporations, trusts, estates, non-wage employees, and wage employees with income not subject to withholding. payment in January. Business.gov, the official business link to the U.S. government, provides federal form searches so visitors may quickly find and download U.S. federal tax forms and guides. "January may be a stressful time for a business owner, and one of Business.gov's goals is to ease the burden of federal compliance on businesses and make it easier to comply with regulations," said SBA SBA abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government Administrator Steven C. Preston. The Business.gov Web site will save businesses time and money in locating the forms and guidance they need as well as searching the government for compliance resources. Failure to comply with employer tax requirements and reporting may result in fines, legal action or business closure. The estimated cost of compliance with the federal tax code for businesses is over $102 billion nationwide. Business.gov provides compliance searches to locate specific tax forms and other compliance related documents to reduce this cost. Grant F. DeMeritte, Tax Compliance Manager, Howard Hughes Medical Institute Howard Hughes Medical Institute, (HHMI), nonprofit medical research organization founded in 1953 by Howard Hughes and largly funded from proceeds of the 1984–85 sale of Hughes Aircraft. Headquartered in Chevy Chase, Md. added, "Business.gov provides a great search engine for easily finding federal forms you need along with the correct federal agency. It is truly a one-stop resource for business compliance." Businesses can log onto www.business.gov and get direct access to the U.S. Government's Official Hub for Federal Forms by searching by form number or keyword in a catalog catalog, descriptive list, on cards or in a book, of the contents of a library. Assurbanipal's library at Nineveh was cataloged on shelves of slate. The first known subject catalog was compiled by Callimachus at the Alexandrian Library in the 3d cent. B.C. of 5,400 business and citizen forms. For example, businesses can search for W-2 forms W-2 Form The form that an employer must send to an employee and the IRS at the end of the year. The W-2 form reports an employee's annual wages and the amount of taxes withheld from his or her paycheck. , wage and tax statements, or employment eligibility verification and W-4 forms W-4 Form A form completed by an employee to indicate his or her tax situation (exemptions, status, etc.) to the employer. The W-4 form tells the employer the correct amount of tax to withhold from an employee's paycheck. . Visitors may also view how-to topics on federal and state taxes in the Business Resource Library located on the site, such as how to apply for a tax ID number. Business.gov is managed by the U.S. Small Business Administration in partnership with 21 other federal agencies and is part of the President's Management Agenda The President's Management Agenda is an initiative, announced by U.S. President George W. Bush in 2001, to make the U.S. federal government more efficient and effective. In its drive to make government more "citizen-centered, market-based, and results-oriented," the agenda . Originally launched in 2004, the Web site provided information on starting, growing, and managing a small business. The new compliance focus is designed to better meet the needs of the business community. Editor's Note Editor's Note (foaled in 1993 in Kentucky) is an American thoroughbred Stallion racehorse. He was sired by 1992 U.S. Champion 2 YO Colt Forty Niner, who in turn was a son of Champion sire Mr. Prospector and out of the mare, Beware Of The Cat. Trained by D. : An online press kit is available at http://www.business.gov/press. |
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