More small to medium-sized businesses expected to seek account receivables factoring to help cover owed taxes.
Los Angeles, CA (PRWEB) April 17, 2013 –– Tax season is now upon us and with this somewhat sluggish economy, many businesses are struggling to meet their tax obligations. Whether you’ve filed an extension, plan on filing late or have worked out a compromise with the IRS, Business Factors LLC, a premier invoice factoring company, is bolstering its line of credit so that it can meet the expected demand for its factoring services.
Cash flow issues, slow-paying customers and flat revenue growth are just a few reasons why a company may not be able to pay their taxes on time. Because invoice factoring assesses the value of existing invoices and assets rather than a credit score, there is a high likelihood that struggling businesses or those who owe back taxes may qualify for factoring invoices. The specialists at Business Factors are familiar with the challenges companies face during tax season and are able to answer any questions businesses might have about using factoring receivables to pay their taxes.
According to Debt.org, it is important to remember that the IRS wants businesses to file, even if they are unable to make full payment. The IRS is more likely to work favorably with a company that files an extension than one that doesn’t file at all. Whether a business is making its tax payment in full, filing an extension to pay, paying on a payment plan or something else, account receivables factoring is a reliable service for a company to use in order to get money and meet its tax obligations.
“Tax season is generally a busy time for us as far as providing invoice factoring services. Many businesses find themselves in a financial squeeze to pay the taxman while others weren’t expecting to owe taxes,” says Robert Bernfeld, President of BusinessFactors.com. “Whatever the situation, we are happy to talk to these businesses to see if we can provide account receivables factoring so that these companies aren’t unduly penalized for failing to file.”
About: BusinessFactors.com is an invoice factoring company providing accounts receivables financing to businesses of all sizes and industries. Businesses can get an advance of up to 96% of their unpaid invoices within 24 hours with low rates and use that much needed money for growth, expansion or paying their bills.