Charleston West Virginia Economic Development

Discussions on Economic and Community Development in West Virginia and the Charleston MSA as well as issues of the Charleston Regional Chamber of Commerce.

Monday, April 21, 2008

Calling All First-Time Schedule C Filers

One of the biggest challenges faced by people starting out in business is understanding and meeting their tax compliance requirements. Tune in to the next IRS National Phone Forum entitled "Calling All First Time Schedule C Filers" scheduled for Wednesday, May 21 to find information, resources, products and services available to new business owners filing a Schedule C for the first time.

After all, filing your taxes should not be harder than starting your business.

The forum is free.

Learn about:
· Classifying workers as employees or independent contractors as determined by law, not the choice of the worker or business owner;
· Depositing federal withholding employment taxes, called trust fund taxes, according to the appropriate schedule;
· Making quarterly estimated-tax payments to cover your own income tax and social security self-employment tax liability;
· Keeping good records to protect your personal and financial investment and to make tax filing easier;
· Considering a tax professional to help you with Schedule C;
· Filing and paying your taxes electronically; and
· Avoiding abusive tax avoidance schemes such as the IRS’s 2008 “Dirty Dozen."

Earn Continued Professional Education credit:
• Enrolled agents receive one CPE credit for a minimum 50-minute participation
• Other tax professionals may receive credit if they qualify per their organization
• Register individually for the forum and use your assigned PIN to attend the event
• You must call in on a separate line so we can verify your attendance
• If you qualify, a certificate of completion will be e-mailed to you after the forum

A question and answer sesstion will follow, but due to the public nature of the forum, IRS officials will not be able to address specific client questions.

The forums are scheduled for 10 a.m., 1 p.m. and 4 p.m. May 21. Resgister at You will receive a personal identification number to join the conference. If you have never registerd with AT&T, you will need to create a profile beforehand.

Register by May 18. The IRS will e-mail material for the class May 19.

The toll-free number to dial May 21 is (866) 216-6835. Dial in about five minutes early. The access codes are 825428 for 10 a.m., 340870 for 1 p.m. and 294751 for 4 p.m.


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