It might not be Tax Day, but October 17th is an important day for taxpayers. Today is the last opportunity to submit tax returns for the people granted an extension by the Internal Revenue Service (IRS) this year. More than 13 million Americans will pay taxes by the October deadline.
Tax filing is a headache for all, but especially small business owners, who are forced to take time away from business development to comply with endless IRS paperwork. Business owners are often forced to hire tax experts just to navigate America’s complex tax code, which diverts resources from job creation to fill the federal government’s coffers. It’s no wonder that, according to a recent Job Creators Network poll, small business owners single out taxes as their most pressing issue. (Government red tape is a close second.)
For more information on America’s tax complexity, read our recent blog post here. You can also watch our latest video on taxes: