Published: December 29, 2007 09:52 pm      

Business tax help just a computer click away

Business owners find tax paperwork to be among their least favorite chores, and as they near the end of the year, getting it all reconciled for filing time is the part of the chore that looms ahead.

Tax Talk Today is an Internal Revenue Service program that can help.

The program is a free, live, monthly interactive Web cast aimed at educating tax professionals and their clients on the most contemporary and complex tax issues.

In December, Part 1 of Getting Ready for the Filing Season 2008 focused on individuals. I missed it.

But, if you missed that program, aired on Dec. 11, you can view it via the Web archive at www.irs.gov. Log on and then do a search for Tax Talk Today’s archive.

Part 2 of Getting Ready for the Filing Season, to be aired Jan. 8 at 2 p.m. will target business filings. The program will provide a head start to tax professionals, their clients and small business owners on business filings.

The show’s panel of experts will discuss business tax return issues for small business and self-employed taxpayers, as well as recent tax law changes and updates for 2007, IRS regulations, business credits, common errors and processing issues that impact filing business returns for the 2007 tax year.

Many small business owners do their own taxes and it’s a big part of the time they must devote to their business. Others use tax professionals the business owners rely on to have the most up-to-date information regarding IRS regulations and filing processes.

My husband maintains all of his tax records throughout the year for our small business and pays quarterly estimated taxes both for the business and our personal taxes. At the end of the year, however, he gathers all the paperwork up and takes it to the tax professional who puts together our returns.

The Tax Talk Today program might help you smooth out this process. It is informative and participants are encouraged to watch and submit questions.

The program even offers continuing education credits to tax professionals for watching.

The one-hour program is live and begins at 2 p.m. on the second Tuesday of each month except April and August.

The IRS considers this Web program to be one of the most exciting products it offers to tax professionals and the public.

The archive of each program is available 24 hours after the live broadcast or VHS copies can be purchased.

Past archived programs available for viewing include a wide range of topics:

• Collection and Examination — A Compliance Update — Sept. 12, 2006.

• Employment Taxes: Getting Ready for Year End — Oct. 17, 2006.

• E-Solutions — Nov. 14, 2006.

• Bankruptcy Abuse Prevention and Consumer Protection — July 11, 2006.

• Why Fix Mistakes in Retirement Plans Now Rather Than Later — June 13, 2006.

• International Issues and U.S. Taxpayers — May 9, 2006.

• Political Intervention: Dos and Don’ts for Charities and Churches — March 14, 2006.

• E-filing for Large and Mid-Size Corporations — Nov. 8, 2005.

• Form 1099 Information Reporting — Oct. 18, 2005.

The programs can be viewed with Windows Media Player and Real Player. Both are free software that may already be installed on your computer. If not, click the link on the Web site for Installing System Software to view Internet Broadcast under How to View.

I was able to find the programs without too much difficulty.

Viewers may submit topic-related questions during live broadcasts. Questions not answered on the air are reviewed and a response provided later via e-mail, individually, or as Q&As posted to the site.

Contact Mona Ridder at mridder@times-news.com.