Tax season can be stressful for many of us. Especially for small business owners that have to deal with all the new business tax laws made by the IRS. If you owe more than you can pay on your business taxes, making late or partial payments can lead to additional fines and have detrimental effects on your credit. Luckily, with a business tax debt loan, you can avoid tax fines and penalties.
The future success of your company shouldn’t be put at risk because of business taxes and accounting issues. Unfortunately, that’s exactly what can happen if you cannot make the full payment on time.
The IRS enforces several penalties on business owners who fail to meet tax deadlines. These include:
• Charging interest that accumulates daily.
• Placing a federal tax lien on your property.
• Seeking additional fines and penalties.
• Pursuing criminal prosecution.
The lasting effects of any of these measures could prove catastrophic to a small business. A single late or incomplete tax payment can quickly turn into a much larger bill as daily interest charges pile up. If enough time passes without payment, a federal tax lien could be put in place, preventing your business from accessing credit for several years. Furthermore, additional fines, criminal charges, and even jail time could result.
No small business owner deserves to be severely penalized for something that often is the result of an honest mistake or financial miscalculation. Fortunately, with business tax debt loans from QuickBridge, this can be easily avoided.
QuickBridge excels at providing short-term business loans that specifically support small business owners. Fast supplementary working capital can help a business pay off an unforeseen tax bill in full and on-time. There’s no need to worry about additional fines, tax liens, or worse with access to smart short-term financing.
Larger-than-expected tax bills can arrive without notice, and missing payments is not a viable option. But paying off those unexpected bills can put your business’s cash flow at risk. Business tax debt loans can be used to help avoid both circumstances.
Consider a business tax debt loan from QuickBridge for instant tax relief, right when you need it, and avoid the long-term consequences of failing to pay your taxes. Get in touch today to start preparing for this tax season before it’s too late.