Congratulations! You have Survived the Second Quarter!
|U.S. Small Business Facts:
In the U.S. there are almost 28 million small businesses and over 22 million individuals are self-employed. The SBA defines a small business as an organization or enterprise with fewer than 500 employees. Over 50% (approximately 120 million individuals) of Americans work in a small business.
Automotive repair shops, beauty salons, and dry cleaner are apart of the fastest growing sector of small businesses.
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Another report released by the SBA shows that 2.52 million businesses in the U.S are veteran-owned. Small businesses owned by veterans employ over 5 million, with an annual payroll of $195 billion and receipts over 1 trillion.
There are currently over 9.9 million women-owned businesses in the U.S. and 1 million (11%) of those have paid employees. Businesses owned by women also employee 8.4 million individuals. A majority of these jobs are for businesses with less than 20 employees.
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If you failed to file your 94x Series Form, you need to as soon as possible to avoid substantial IRS penalties. You will be penalized 5% of the tax return for each month the return is late. And if you failed to pay the required tax amount or made a particular payment you will be charged 2 to 15% of the unpaid tax amount determined by the number of calendar days it remains unpaid.
ExpressTaxFilings is an IRS-authorized integrated solution for generating and transmitting your IRS Forms. If you need to e-file any 94x Series Forms, ExpressTaxFilings provides you with a step-by-step interview style process with built-in audits to ensure error free filing. If you have any questions while filling, we offer phone, live chat, and email support in both English and Spanish for your convenience from our Rock Hill, SC office.