Information Center (800) 917-0043 or help@oria.wa.gov
[Portal ID #1729]

Small Business Liaisons
“We're acting to make it easier to do business in Washington"

  << Back

Upcoming events & IRS news releases     2/26/2016

Announcements & Upcoming Events:

ChallegeHER: Free Event - Opportunities for Women in Federal Contracting

https://www.eventbrite.com/e/challengeher-seattle-tickets-21096061889

March 22 – 8:00 am – 1:30 pm

Robert J. Drewel Building 
3000 Rockefeller Ave. 
Everett, WA 98201

 

ChallengeHER works specifically with the Women-Owned Small Business (WOSB) federal contracting program as a tool to help to assist women business owners leverage federal awards, learn the federal procurement process, and to connect them with the right people. 

- Successfully navigate the federal contracting system

- Participate in break-out sessions and matchmaking sessions with agencies and prime contractors. 

This is a free event, but registration is required.

 

Taxes, the Affordable Care Act and You: Multilingual workshops and webinars

The SBA is excited to be able to offer information on taxes and the ACA in both Spanish and Hindi, join us on one of the dates below as guest experts from H&R Block discuss Affordable Care Act (ACA) tax issues from both an individual and small business owner perspective. Topics to be covered include:

  • ACA Tax Impacts
  • Penalties
  • Definition of Qualified Coverage
  • Advance Premium Tax Credit and Your Refund
  • 1095A, 1095B and 1095C Required tax forms
  • People who are required to file taxes due to ACA
  • Documentation businesses must provide now
  • Healthcare tax credits for small business

 

There will be a significant amount time at the end of the presentation to answer individual questions.

Webinar:
Wednesday, March 2  |  12 to 1 p.m.
This webinar will be in English and Spanish
Register online at http://ACA-Taxes-Mar2.eventbrite.com 

 

In-Person Workshop in Bellevue
Thursday, March 3  |  12 to 1 p.m.
This workshop will be in English and Hindi
Register online at http://ACA-Taxes-Mar3.eventbrite.com

 

In-Person Workshop in Seattle
Wednesday, March 23  |  12 to 1 p.m.
This workshop will be in English and Spanish
Register online at http://ACA-Taxes-Mar23.eventbrite.com 

 SBA Free Workshop Thursdays (many are offered both in person and online):

https://seattlefreeworkshopthursdaysmar10.eventbrite.com/

 

Tax Talks: What You Need to Know About Small Business Taxes

March 10, 2016 | 10:30 am - 11:30 am

Learn the basics of small business taxes. Tax professionals will help you understand your tax reporting responsibilities. Topics include: record keeping, expenses and deductions, estimated taxes, home offices, and areas that may trigger an unwanted IRS tax audit. This event will be offered at the Seattle SBA office and also be broadcast as a live webinar.

 

To attend in person please register here: https://seattlefreeworkshopthursdaysmar10.eventbrite.com/

To attend virtually register here: https://onlinefreeworkshopthursdaysmar24.eventbrite.com/

Call 206-553-7310 for more information.

 

Other SBA workshops can be found here: https://www.sba.gov/offices/district/wa/seattle

Free Tools for Starting a Business

March 9, 2016 | 2:00 pm - 3:00 pm

Auburn WorkSource

2702 "I" Street NE, Auburn, WA, 98002

Register here: https://www.eventbrite.com/e/auburn-free-tools-for-starting-a-business-tickets-20237022479

 

Thinking about starting a business? You may be surprised to learn how many free and low-cost tools are available to you.  Attend this workshop to learn about finding a business mentor or coach, market research tools, templates for writing a business plan, options for financing and government contracting opportunities.

 

Start Your Business Right: Steps to Consider BEFORE Applying for a Business License

March 10, 2016 | 10:30 am PST - 11:30 am PST

SBA Education & Training Center

2401 4th Avenue, Suite 450, Seattle, WA, 98121

Register here: https://www.eventbrite.com/e/seattle-free-workshop-thursdays-march-10-tickets-20702957102

This event will also be broadcast as a live webinar. To attend virtually register here: https://OnlineFreeWorkshopThursdaysMar10.eventbrite.com 

As the starting point for 70% of all new businesses in Washington, the Secretary of State is the first stop when creating your business entity. Learn about the general filing requirements for LLC, Corporation, Limited Partnership or even a Nonprofit. Understand how to navigate the filing process, reserving or registering a name, and annual reporting requirements.

SCORE Workshops

SCORE offers workshops designed to give you the skills necessary to start your own successful business. 

Seattle: http://seattle.score.org/localworkshops

Mar 2 -- Starting a New Business

Feb 26 -- Understanding Financial Statements

Spokane: http://scorespokane.org/workshops

Mar 2, April 6, May 4 -- How to Start a New Business

There are also a number of online workshops available: https://seattle.score.org/onlineworkshops/tab-a  

IRS Updates & News Releases:

Did you know? One of the best ways to get information is by visiting the IRS Small Business Tax Center where you can learn everything from how to get an Employer Identification Number (EIN) online to how to best navigate an audit.

 

IRS Wraps Up the "Dirty Dozen" List of Tax Scams for 2016

https://www.irs.gov/uac/Newsroom/IRS-Wraps-Up-the-Dirty-Dozen-List-of-Tax-Scams-for-2016

IRS YouTube Video
Tax Scams: English | Spanish | ASL

IRS Podcasts
Tax Scams: English | Spanish

The Internal Revenue Service has published its annual "Dirty Dozen" list of tax scams with identity theft topping this year's list but with phone scams and phishing schemes also deserving special mention. This is the second year the IRS has highlighted its Dirty Dozen list in separate releases over 12 business days. Taxpayers are encouraged to review the list in a special section on IRS.gov and be on the lookout for these scams. Many of these con games peak during filing season as people prepare their tax returns or hire someone to do so. See the full article for a recap of this year's "Dirty Dozen" scams.

Consumers Warned of New Surge in IRS E-mail Schemes during 2016 Tax Season; Tax Industry Also Targeted

https://www.irs.gov/uac/Newsroom/Consumers-Warned-of-New-Surge-in-IRS-Email-Schemes-during-2016-Tax-Season-Tax-Industry-Also-Targeted

The Internal Revenue Service renewed a consumer alert for e-mail schemes after seeing an approximate 400 percent surge in phishing and malware incidents so far this tax season. The emails are designed to trick taxpayers into thinking these are official communications from the IRS or others in the tax industry, including tax software companies. E-mails can seek information related to refunds, filing status, confirming personal information, ordering transcripts and verifying PIN information. Variations of these scams can be seen via text messages, and the communications are being reported in every section of the country.

If a taxpayer receives an unsolicited email that appears to be from either the IRS e-services portal or an organization closely linked to the IRS, report it by sending it to phishing@irs.gov.  Learn more by going to the Report Phishing and Online Scams page. It is important to keep in mind the IRS generally does not initiate contact with taxpayers by email to request personal or financial information. This includes any type of electronic communication, such as text messages and social media channels.

All Tax Forms Free with Free File

https://www.irs.gov/uac/Newsroom/All-Tax-Forms-Free-with-Free-File

Whether you draw a paycheck, are self-employed or own a small business, you can use all available tax forms you need for free with IRS Free File. If you make $62,000 or less, you qualify for free brand-name software offered through a partnership between the IRS and 13 leading tax software providers. Some of these providers offer free federal and free state return preparation and electronic filing. If you made more than $62,000, you can use Free File Fillable Forms, electronic versions of IRS paper forms best for someone experienced in return preparation.

Budget in Brief FY 2017

This summarizes how the budget request will enable the agency to meet its strategic goals: improve customer service and enhance enforcement of the tax laws.

IRS Statement on E-filing PIN

https://www.irs.gov/uac/Newsroom/IRS-Statement-on-Efiling-PIN

The IRS recently identified and halted an automated attack upon its Electronic Filing PIN application on IRS.gov. Using personal data stolen elsewhere outside the IRS, identity thieves used malware in an attempt to generate E-file PINs for stolen social security numbers. An E-file pin is used in some instances to electronically file a tax return. No personal taxpayer data was compromised or disclosed by IRS systems. The IRS also is taking immediate steps to notify affected taxpayers by mail that their personal information was used in an attempt to access the IRS application.  The IRS is also protecting their accounts by marking them to protect against tax-related identity theft.

Affordable Care Act Reminders

https://www.irs.gov/Affordable-Care-Act/Individuals-and-Families/Health-Care-Law-and-Your-Tax-Return

https://www.irs.gov/Affordable-Care-Act/Individuals-and-Families/Reporting-Health-Coverage-on-IRS-Tax-Forms

The Affordable Care Act includes the individual shared responsibility provision and the premium tax credit that may affect your tax return. The individual shared responsibility provision requires you, your spouse and your dependents to have qualifying health insurance for the entire year, report a health coverage exemption or make a payment when you file. In addition, you may be eligible for the premium tax credit and must file a return to reconcile any advance payments if you enrolled in 2015 health coverage through the Health Insurance Marketplace.

Here are some important reminders:

  • Check the box: Similar to last year, the vast majority of taxpayers will simply check a box on the tax return to indicate that everyone on that return had qualifying health coverage for the whole year. No further action is required to report coverage.
  • Claim a Coverage Exemption if you qualify: If you or anyone on your return did not have coverage for the entire year, you should determine if you qualify for one of the many coverage exemptions that are available. You can use our online interactive tool — the Interactive Tax Assistant — to help determine if you are eligible for a coverage exemption or required to make an individual shared responsibility payment. You can claim most exemptions using Form 8965, Health Coverage Exemptions, when you file your tax return.
  • File to reconcile Advance Payments of the Premium Tax Credit: If you enrolled in coverage through the Health Insurance Marketplace during 2015, you most likely received the benefit of advance payments of the premium tax credit. You must file a tax return and submit Form 8962, Premium Tax Credit, to reconcile these payments with the actual premium tax credit to which you are entitled. You will need Form 1095-A, Health Insurance Marketplace Statement, from the Marketplace to complete Form 8962. Failure to reconcile your advance payments of the premium tax credit on Form 8962 may make you ineligible to receive future advance payments.
  • Don't wait for Forms 1095-B or C: Many taxpayers will receive a Form 1095-B, Health Coverage, or Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, with information about their 2015 health care coverage. You may have heard that the IRS has extended the time for health coverage providers and employers to furnish these forms. You should be aware that you don't have to wait for these forms in order to file your tax return, and you don’t have to send these forms to the IRS. Like last year, you can rely on other information to determine your health coverage. The IRS has additional information about these forms in questions and answers on IRS.gov/aca.   
  • Wait for Form 1095-A: If you — or anyone on your return — enrolled in 2015 coverage through the Marketplace you should receive Form 1095-A from the Marketplace in early February with important information that you need to accurately file your tax return. Unlike the Forms 1095-B and 1095-C, you should wait to file your tax return until you receive your Form 1095-A. Contact your Marketplace directly with questions about your Form 1095-A.   

The Affordable Care Act Web page located on IRS.gov features useful information, charts and interactive online tools to help taxpayers with the premium tax credit and the individual shared responsibility requirement.

Tax Tips

http://www.irs.gov/uac/IRS-Tax-Tips

Visit this page for the latest IRS tax tips.  Here is a sample of the tips available:

Get Tax Help in Spanish from the IRS

How to Get a Copy of Your Prior Year's Tax Information
IRS Releases Dirty Dozen Scam List: Don’t be a Victim
Six Reasons to Choose Direct Deposit for Your Tax Refund
Self Employed? Check Out These IRS Tax Tips
Ten Key Tax Tips for Farmers and Ranchers

Health Care Tax Tips

https://www.irs.gov/affordable-care-act/health-care-tax-tips2

Check out the tax tips for your health care questions on this page.

Here’s What You Need to Do with Your Form 1095-A
Here’s What You Need to Do with Your Form 1095-C
Here’s What You Need to Do with Your Form 1095-B
Understanding the Small Business Health Care Tax Credit
Reporting Health Coverage on IRS Tax Forms
ACA and Employers: How Seasonal Workers Affect Your ALE Status
Averaging Full-time and Full-time Equivalent Employees and Why it Matters

Small Business Health Options Program (SHOP) Marketplace

https://www.healthcare.gov/small-businesses/

The Small Business Health Options Program (SHOP) Marketplace helps small businesses provide health coverage to their employees. The SHOP Marketplace is open to employers with 50 or fewer full-time equivalent employees (FTEs). This includes non-profit organizations. You can enroll in SHOP any time of year - there’s no restricted enrollment period. For more information, visit HealthCare.gov.

The Affordable Care Act and Employers
Information on Key Tax Provisions Affecting Employers 

<< Back