Your business can face multiple tax issues if it fails to comply with the tax rules mandated by the IRS. From failing to file your tax returns on time to not reporting your income accurately, there are many reasons why your business may be in trouble with the IRS.
Here’s a list of the most common tax issues your business may face:
- Not knowing all the different taxes your business may have. There are so many different tax requirements for the different types of businesses.
- Failure to pay taxes.
- Late filing of taxes.
- Erroneous reporting of income and taxes.
- Fraudulent tax reporting.