Urban Stern Andersen — U.S. tax filing for businesses

Tax Returns

Tax Returns are essential documents that individuals and businesses are required to file with tax authorities (like the IRS in the U.S.) to calculate and pay their taxes. It’s crucial to understand who must file, what types of returns exist, and why timely submission is so important.

Get the service

WHY TAX RETURNS ARE IMPORTANT

Calculating Tax Liabilities
Tax returns allow taxpayers to calculate how much tax they owe or, alternatively, how much they’ve overpaid and can claim as a refund.
Legal Requirement
Almost all individuals and companies with income above a certain threshold are legally required to file tax returns. Failing to do so can result in penalties and fines.
Eligibility for Tax Deductions and Credits
Filing tax returns gives you the opportunity to claim deductions, credits, and refunds, which can significantly reduce your tax burden.
Maintaining Financial Transparency
Tax returns help maintain accurate records of income and expenses, which is especially important for businesses.

WHO MUST FILE

Individuals
Every U.S. citizen or resident with income above the set threshold is required to file a tax return.
Business Owners
Entrepreneurs, corporations, including
S-Corporations and LLCs (with multiple members), must also file returns.
Investors and Freelancers
Those earning income from investments, rental properties, or freelance work must report their earnings through tax returns.

IMPORTANCE OF FILING TAX RETURNS ON TIME

Avoiding Penalties and Fines

Filing late or failing to file altogether can result in hefty fines, interest on unpaid taxes, and other IRS sanctions.

Claiming Refunds

If you've overpaid your taxes, you’re entitled to a refund, but only if you file. Failure to submit a return means missing out on that money.

Financial Reporting

For business owners and corporations, tax returns are crucial for maintaining financial transparency and ensuring compliance with regulatory requirements.

Legal Compliance

Filing accurate and timely tax returns is key to complying with the law and avoiding audits or investigations by tax authorities.

Hiring a professional CPA to handle your tax filings ensures compliance with the law, maximizes your tax benefits, and protects you from costly penalties.

FREE QUICK CONSULTATION

Have a quick question? Benefit from a free consultation for up to 15 minutes.

MEET OUR TEAM

INDIVIDUAL CONSULTATIONS FROM PROFESSIONALS

Ready to start your company and take the first step to success?
Don't miss the opportunity to start your business now!

20+ specialists
15+ years of experience

PAID consultation with CPA, Business Attorney or Tax AdvisoR

For more in-depth guidance, we offer paid consultations with a CPA, Business Attorney or Tax Advisor charged by the hour.

Accountants

Business Consultants

CPA

Business Attorneys