Get Form C58b, Business Information Statement. Form C58b, Business Information Statement

Filling out the Form C58B, Business Information Statement, is a crucial step for businesses seeking to assess their payment capabilities concerning taxes owed. This guide provides you with the necessary instructions to complete the form accurately and efficiently, ensuring that all required information is documented correctly.

Follow the steps to complete the Form C58B effectively.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. In Section 1, provide general information about your business. Fill in the business name, federal ID number, business address, and type of organization by checking the appropriate box. Include the type of business and the contact details of the person submitting the information.
3. List all owners, general partners, or officers in the designated area. If necessary, attach a separate sheet with additional names.
4. In Section 2, provide asset information. List all bank accounts, accounts receivable, life insurance policies, and other assets. Be thorough in detailing each asset’s balance and relevant details.
5. Section 3 requires you to analyze your assets and liabilities. Complete the asset and liability analysis by entering the values and balances of your cash, bank accounts, notes receivable, and other financial information.
6. In Section 4, document your revenue and expenses for the applicable period. Record gross receipts, expenses, and net difference calculations to reflect your business's financial status.
7. In Section 5, outline the payment terms you are requesting. State the total tax and other amounts owed, the initial payment you are remitting, and the manner in which you would like to make future payments.
8. Lastly, review all the information you have provided. Make sure everything is complete and accurate, as material misrepresentation can lead to denial of your payment agreement.
9. Once all sections are filled out, save your changes. You can choose to download, print, or share the form as needed.

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