Tax filing season is finally coming to a close and for ecommerce businesses that often means one thing: time to pay your business taxes! Your business is a taxpayer and is required to file taxes each year. 80% of small business owners feel stressed during tax season due to the paperwork and reporting requirements of tax filings and owing more than expected is common.

Your business taxes can vary widely depending on whether your ecommerce business is a C Corporation, a Limited Company, or a Limited Liability Company. According to Freshbooks, “Small businesses with one owner pay an average tax rate of 13.3%, while companies with multiple owners pay an average rate of 23.6%.” Meanwhile, C corporations pay federal income tax for corporations at a rate of 21%, as well as state corporate taxes. 

This means a lot of businesses use their cash-on-hand or credit card accounts to pay their tax bills. So, we thought of a better way to put that money back into your business: pay your tax bills and get your business’s tax receipt reimbursed for funding through Clearco.

What is a tax return for businesses?

A tax return is a form or forms filed with a tax authority, such as the Internal Revenue Service (IRS) under the United States (U.S.) Department of the Treasury. The IRS is responsible for collecting tax information from all corporations in the U.S. 

For businesses, a tax return reports on financial conditions such as earnings and expenses. Tax returns allow taxpayers to calculate tax liability, schedule tax payments, or request refunds for the overpayment of taxes. In most countries, tax returns must be filed annually for a business.

What is a tax bill for businesses?

If your business will owe taxes after filing, you will need to pay your business’s tax bill. The IRS encourages payment by the tax filing deadline. For businesses, this can mean a significant amount of cash or credit going towards a tax bill, as well as beginning installment payments for the following year, when relevant. For businesses, tax bills can mean an immediate loss of cash flow during a time where ecommerce is still picking up speed after the lowest sales months in January and February.

How to pay your tax bill for businesses?

To make payments to the IRS for your tax bills, your business can pay from a bank account, a Debit or Credit Card, or even digital wallets. You are able to pay by phone, mail, or online.

How to get funding for your paid tax bill?

If your business has submitted your payment to the IRS for your 2023 tax year and have proof of payment then you are ready to get funding from Clearco. 

• Sign up for a Clearco account or log in to your existing Clearco account
• Fill in any required profile information
• Upload your tax records
• Get the receipt funded by Clearco

What proof of payment exists for business tax bills?

The IRS does not directly provide typically “receipts” for proof of payment towards tax bills. Instead, your business can access the Tax Record or Transcript in your IRS Online Account where your payment history is present. You will also have proof of payment in the bank account you used to submit payment for your tax bill. If you are not able to retain a receipt for Clearco funding, your business can upload the tax bill alongside the bank statement for proof of payment. Additionally, the filing document Form 1120 will include the owed taxes that can be verified against the connected bank account and the payment outflow.

Free up cash flow this tax season with Clearco’s tax bill funding

Clearco wants to make it easy for ecommerce businesses to free up their cash flow for the things they need. Tax season can be, well, taxing on the best of us but for businesses, it can mean losing cash for inventory and logistics or credit for marketing pushes. Clearco will reimburse your tax bill payments through our funding so you can get back to reinvesting in your business. Submit your tax bill receipts for the 2023 tax year and get funding in as little as 24 hours with Clearco.