The Internal Revenue Service has helmed a new video series, Your Guide to an IRS Audit, which follows three hypothetical small business taxpayers step-by-step through the audit process.
They include a small computer repair business, an auto repair shop, and a local flower shop owner. The videos explain matters such as what to do if small businesses receive a letter notifying them of an audit, what rights they have during an audit, and what responsibilities they and the auditor have during the audit.
Separately, the IRS also announced that its 2011 Tax Calendar for Small Businesses and Self-Employed is available for pre-order. The English version of the 2011 Tax Calendar will be shipped by early November for those who order now.
The Tax Calendar for Small Businesses and Self-Employed (Pub 1518, Catalog Number 12350Z) is a 12-month wall calendar. It is filled with information on general business taxes, IRS and Social Security Administration customer assistance, electronic filing and paying options, retirement plans, business publications and forms, and common tax filing dates.
Each page highlights different tax issues and tips that may be relevant to small business owners with room on each month to add notes, state tax dates, or business appointments. Copies can be ordered online or from the IRS by calling (800) 829-3676.
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