E File Business Taxes for Small Business Owners

Filing business taxes electronically is a breeze for small business owners. You can e-file your business taxes using tax software like TurboTax or QuickBooks, which guides you through the process and ensures accuracy.

The IRS offers free e-file services for small business owners, including the Electronic Federal Tax Payment System (EFTPS) and the Free File program, which allows you to file taxes for free if your income is below a certain threshold.

To e-file your business taxes, you'll need to gather all necessary documents, including your business income statement, expense records, and identification numbers.

Expand your knowledge: Unrelated Business Income Tax

California law requires business entities to e-file their returns if they use tax preparation software. This applies to original and amended returns.

If you're a business entity in California, you'll need to electronically file your return with the state. This is a mandatory requirement, so make sure you're aware of it.

You can request a business entity e-file waiver if needed, but this is an exception rather than the rule.

A different take: California Business Taxes

If you're a business owner, you're likely familiar with the different types of business taxes that need to be filed. There are three main types: Corporate Income Tax, S Corp & Partnership Tax, and each has its own electronic filing requirements.

For Corporate Income Tax, you'll need to use one of the following software products to e-file your Form 40 return: Blockworks, CCH Prosystemfx, Corptax, Drake Tax, GoSystem/ONESOURCE, Lacerte, MyTaxPrepOffice, OLTPro, ProConnect Tax Online, Proseries, Tax Series, TaxSlayer Pro, TaxAct, or UltraTax CS.

Here's a list of software products that support electronic filing for S Corp & Partnership Tax returns, including Forms 58 and 60:

Corporate Income tax e-filing is a convenient option for businesses, and several software products support this process. Here are some of the software products that can help with electronic filing for Corporation (Form 40) returns:

These software products can help businesses streamline their tax preparation and filing process, saving time and reducing errors.

For S Corps and Partnerships, e-filing is a viable option, but it's essential to know which software products support electronic filing for these types of returns. Currently, there are numerous software products that offer this service, including ATX, BlockWorks, and CCH Prosystemfx.

If you're an S Corp or Partnership, you're likely aware of the importance of accuracy and efficiency in tax filing. E-filing can provide these benefits, and it's worth exploring the options available to you.

Some popular software products for e-filing S Corp and Partnership returns include Lacerte, MyTaxPrepOffice, and OLTPro. These products can help streamline the process and reduce errors.

The IRS has specific requirements for e-filing, and it's crucial to meet these standards to avoid any issues. Currently, corporations with assets of over $10 million that file at least 10 returns annually must file their returns electronically.

Here are some software products that support electronic filing for Partnership (Form 58) and S-Corporation (Form 60) returns:

Sales tax is a type of tax that businesses collect from customers on behalf of the government. You can choose to have your application or system create an XML file for sales tax returns, which can be uploaded into North Dakota Taxpayer Access Point (ND TAP) instead of keying in the information manually.

This can be especially useful for permits that report many local option taxes, as it prevents keying errors. The XML file specifications required for the upload option are contained in the Schema file.

You can use Microsoft Excel to map an XML Schema to a spreadsheet, making it easier to export an XML file that can be uploaded into the TAP application. This feature can be useful for those who process their tax return information into an Excel spreadsheet and have many local option taxes to report.

Curious to learn more? Check out: Business Spreadsheet for Taxes

When making tax payments on an electronic return, you have a few options. You can make a payment using an ACH Debit, ACH Credit, or Fed Wire payment.

To initiate an ACH Debit, you'll need to include the necessary information with your return data upon filing. This includes using software that's been approved for e-file by the Department of Finance.

You can also use the NYC-200V voucher for payment if you file your returns electronically but don't want to pay electronically. This is an alternative to making an electronic payment.

If you're filing your own return electronically, you must be authorized by the IRS to e-file corporation, partnership, or individual tax returns.

Payments must be payable in U.S. dollars drawn on a U.S. Bank, regardless of whether you're filing electronically or on paper.

If you make a payment using an ACH Debit, your return will be treated as filed on the requested payment date, not the date the return was received.

Here are the payment options in a nutshell:

Filing with Webfile is a straightforward process, allowing you to file various taxes online, including Sales and Use, Franchise, and 911 Fees.

To file with Webfile, you can choose from a list of available taxes, which includes over a dozen types, such as Automobile Theft Prevention Assessment, Battery, and Mixed Beverage Gross Receipts.

If you have no taxable sales to report, you can file by phone, which is a convenient option for those with minimal tax obligations.

You can file the following taxes with EDI: Sales and Use/Direct Pay, Motor Fuels, Natural Gas and Crude Oil, and International Fuel Tax Agreement (IFTA).

To file with EDI, you'll need to download the necessary forms, which can be filled out using Adobe Reader, and then print and mail or return them to one of the offices.

If you have taxable sales to report, you can file with Webfile for various taxes, including Sales and Use, Franchise, 911 Fees, and many others.

The specific taxes you can file with Webfile include Sales and Use, Franchise, 911 Fees, Automobile Theft Prevention Assessment, and more.

Here's a list of some of the taxes you can file with Webfile:

If you have no taxable sales to report, you can file by phone.

If you file your return using commercial software, you'll need to sign in to e-file and self-select a five-digit personal identification number (PIN). You'll also need to authenticate your identity using your date of birth and your prior year's adjusted gross income (AGI).

You can schedule your payment for any date up until your tax payment due date, or make payments online, by phone, or by sending a check or money order through the mail.

Commercial software allows you to file your quarterly employment taxes online, but you'll need to purchase IRS-approved software and pay a fee to file your returns electronically.

If you're not comfortable e-filing, you can work with a tax professional or service who will complete and e-file these returns for you.

Here are some payment options for e-filed returns: