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Tax Compliance-Sales and Payroll Taxes

There are a number of income, service, sales and payroll taxes that you are corporately liable for. These taxes must be declared in the official formats required by the IRS, within the specified dates. The concept of Tax Compliance refers to taxpayers’ decisions to comply with all state, federal and international tax laws and regulations in a timely manner. In order to make the necessary declarations, you must know the forms requested from you, the additional documents you must provide for these forms, and the deadlines for payment. Because of the complexity and time consuming process, most businesses require professional support to establish and maintain compliance.

If you have employees in your business, you are required to deduct payroll taxes from their salary and deposit it to the authorities.

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