Small business IRS survey and tax tips

The IRS Small Business/Self-Employed division will conduct its annual telephone survey in May and June. Potential participants will receive a letter from SB/SE Commissioner Kathy Petronchak inviting their participation.

If you do decide to take part in the poll, Pacific Market Research (PMR), the contractor used by the IRS, will call you. Responses are confidential, says the IRS, and there will not be any questions about your personal or financial information.

The IRS no doubt is hoping that potential survey participants are aware of the agency's recently launched campaign to help small businesses learn about and comply with tax laws.

At this Web page, business owners can find information on:

• Determining which sole proprietorship tax return, Schedule C or Schedule C-EZ, best fits your small business;
• Classifying workers as employees or independent contractors;
• Depositing federal employment taxes, called trust fund taxes;
• Making quarterly estimated quarterly payments to cover your income tax and Social Security self-employment tax liability;
• Keeping good business records;
• Filing and paying your taxes electronically;
• Preparing for and dealing with disasters that could impact your business; and
• Avoiding tax scams.

To help companies keep track of their tax responsibilities, the IRS also publishes an annual tax calendar. The 2008 edition is available here.