Helpful Information & Links
This page provides helpful information and links to assist you in getting answers about federal and South Carolina government entities that affect the small business owner. Please feel free to look at these sites to get answers to questions you may have about that organization and how they affect you as a business owner.
Suggested holding periods for tax records:
1. It is a good policy to save copies of your 1040 and supporting schedules indefinitely.
2. The IRS requires record retention as long as they are important for Federal Tax law. Generally this means:
- 3 years from the date the return is filed...or
- 2 years from the tax payment date...or
- 6 years, if income is under-reported by more than 25%
(whichever is later).
3. Keep ALL--bank statements, checks, receipts and other financial records for at least three years, especially those documents that will support your tax return figures.
The key filing dates for the federal individual income taxes are:
January 15th - 4th Quarter Estimated Tax Due
April 15th - Individual Tax Returns due
April 15th - 1st Quarter Estimated Tax due
June 15th - 2nd Quarter Estimated Tax due
September15th - 3rd Quarter Estimated Tax due
U.S. Treasury Service This website has information regarding personal as well as business taxes. You can obtain employment forms such as W4s/W9s, Form 940, Form 941, Form 944 as well as their instructions.
You can also apply for your Employer Identification Number (EIN) on line or if you misplaced the paperwork containing your EIN (Form SS-4) you can contact the IRS at 8..829.4933.
USCIS (U.S. Citizenship and Immigration Services) On this site you can access Form I-9 (Employment Eligibility Verification). All U.S. employers must complete and retain a Form
I-9 for each individual they hire for employment in the United States. This includes citizens as well as non citizens.
Employers are required to verify all employee's work authorizations through the E-Verify federal work authorization program administered by the U.S. Department of Homeland Security. Employees must return a completed Form I-9 to employers withing 3 days of employment. Employers must initiate E-Verify verification procedures for new employees within 3 days after employing a new employee.
Compliance with verification requirements began July 1, 2009 for private employers who employ 100 or more employees. For private employers who employ less than 100 employees, the compliance date was July 1, 2010.
South Carolina New Hire Employers are required to report all newly hired employees to the New Hire Reporting Program within 20 days of hiring.
South Carolina Secretary of State This website has information concerning business filings, how to apply for or get a copy of your article of incorporation. Allows you to check the status of a South Carolina company or charity.
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