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Last minute tax filing reminders & upcoming events for Small Business Week in May     4/14/2016

Announcements & Upcoming Events:

 

IRS Webinars for Small Businesses

https://www.irs.gov/businesses/small-businesses-self-employed/webinars-for-small-businesses

Four free webinars for small businesses to celebrate National Small Business Week.  Each webinar is one hour in length, and runs from 11:00 am – 12:00 pm Pacific Time.

 

Tax Tips for Your New Business - May 2, 2016

Register here: https://www.webcaster4.com/Webcast/Page/445/14468

Topics include:

·         Is it a business or hobby

·         Select a business structure

·         Understand business taxes

·         Recordkeeping requirements

·         How to choose a tax preparer

·         Where to go for IRS help

·         Plus a live Q&A

 

Staying Afloat: Planning for Emergencies Before they Happen - May 3, 2016

Register here: https://www.webcaster4.com/Webcast/Page/445/14492

Topics include:

·         Business continuity planning

·         How to create an emergency plan

·         Employee preparedness

·         Payroll continuity and supply chain protection

·         Protecting your records and data

·         What happens after a disaster is declared

·         IRS resources to help you plan

·         Plus a live Q&A

 

Worker Classification: Employee or Independent Contractor - May 4, 2016

Register here: https://www.webcaster4.com/Webcast/Page/445/14546


NOTE: Webinar in Spanish; Este seminario será traducido en Español

Topics include:

·         Difference between an employee and an independent contractor

·         Common law rules

·         Form SS-8

·         Employment tax obligations

·         Voluntary classification settlement program

·         Plus a live Q&A in Spanish

 

Tip Reporting and Tips vs. Service Charges – May 5, 2016

Register here:  https://www.webcaster4.com/Webcast/Page/445/14436

 

Topics include:

  • Tip recordkeeping and reporting responsibilities for both employers and employees
  • Understanding the difference between tips and service charges
  • How and when to file Form 8027, Employer's Annual Information Return of Tip Income and Allocated Tips
  • Plus a live Q&A

 

Mark Your Calendar!  SBA’s JumpStart Week is May 16-20

https://www.sba.gov/event/1499150

The Seattle SBA office will conduct a series of workshops designed to help startup and existing small business owners improve the bottom line. Four workshop tracks will be offered:  Networking, How to Stay Out of Trouble, Finance, and Marketing/Social Media. Registration coming soon - check here for updates.

 

Small Business Administration Workshops

https://www.sba.gov/offices/district/wa/seattle

SBA offers a variety of workshops, some online and others in person.

Apr 14 - Aberdeen - Your Business - Start Smart

Apr 19 - Bellevue - Your Business -- Finance Smart

Seattle - Free Workshop Thursdays - April 14

Seattle - Free Workshop Thursdays - April 28

 

SCORE Workshops

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

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

May 4, June 1 -- Starting a New Business

Apr 26, May 4 – Understanding Financial Statements

Spokane: http://scorespokane.org/workshops

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 Releases Tax Time Guide: Use IRS.gov Tools for Quicker Answers

https://www.irs.gov/newsroom/irs-releases-tax-time-guide-use-irsgov-tools-for-quicker-answers

Internal Revenue Service encourages taxpayers working on their 2015 tax returns to take advantage of the numerous online tools and resources available on IRS.gov, introducing a series of 10 IRS tips called the Tax Time Guide. These tips are designed to help taxpayers navigate common tax issues as this year’s April 18 deadline approaches. It will offer taxpayers tips on how to get help along with important options and issues to keep in mind as the tax deadline approaches.

 

The guide contains some of the most common tax-related questions and the faster and easier ways to get answers:

 

Tax Time Guide 2016

https://www.irs.gov/uac/Newsroom/Tax-Time-Guide-2016

Tax Time Guide: Easy Electronic Payment and Payment Agreement Options Available to People Who Owe Tax

Tax Time Guide: Many Home-Based Businesses Can Use Simplified Method for Claiming Home Office Deduction; Taxpayers May Deduct up to $1,500 a Year

Tax Time Guide: Online Tools Help Taxpayers Choose a Qualified Tax Professional

Tax Time Guide: Good Records Key to Claiming Gifts to Charity

Tax Time Guide: Check Refund Status Online With Where’s My Refund?

Tax Time Guide: Updated Tax Guide Helps People with Their 2015 Taxes

 

IRS Warns of Continued Scams, Varied Tactics as the Tax Deadline Nears

https://www.irs.gov/uac/Newsroom/IRS-Warns-of-Continued-Scams-and-Varied-Tactics-as-the-Tax-Deadline-Nears
The IRS issued a warning that scammers may try using the April 18 tax deadline to prey on hard-working taxpayers by impersonating the IRS and others with fake phone calls and emails.

 

IRS Offers New Cash Payment Option
https://www.irs.gov/uac/Newsroom/IRS-Offers-New-Cash-Payment-Option

The IRS announced a new payment option for individual taxpayers who need to pay their taxes with cash. In partnership with ACI Worldwide’s OfficialPayments.com and the PayNearMe Company, individuals can now make a payment at over 7,000 7-Eleven stores nationwide.

 

“Tax Design Challenge” Begins Soon
https://www.irs.gov/uac/Newsroom/Tax-Design-Challenge-Begins-Soon

The IRS announced the upcoming start of its first Tax Design Challenge crowdsourcing competition to encourage innovative ideas for the taxpayer experience of the future. The effort, being done in coordination with the Mortgage Bankers Association (MBA), is a crowdsourcing competition open to the public. The competition will engage teams of designers, developers, and innovative thinkers across the U.S. to envision options for taxpayer interactions. The winning designs will be showcased in an online gallery and receive monetary prizes, funded exclusively by the Mortgage Bankers Association. Employees of the IRS and MBA are not eligible to participate in the contest.

 

Submissions will be accepted starting April 17 through May 10, 2016. Participants must first register on the website https://taxdesignchallenge.github.io/2016-showcase/

 

IRS’s Top 10 Identity Theft Prosecutions: Criminal Investigation Continues Efforts to Halt Refund Fraud
https://www.irs.gov/uac/Newsroom/IRSs-Top-10-Identity-Theft-Prosecutions-Criminal-Investigation-Continues-Efforts-to-Halt-Refund-Fraud

As part of the continued crackdown on refund fraud and identity theft, the IRS today released the Top 10 Identity Theft Prosecutions for Fiscal Year 2015.

 

Written Testimony of Commissioner Koskinen before the Senate Finance Committee On Cybersecurity and Protecting Taxpayer Information

https://www.irs.gov/uac/Written-Testimony-of-Commissioner-Koskinen-before-the-Senate-Finance-Committee-On-Cybersecurity-and-Protecting-Taxpayer-Information
Commissioner Koskinen testifies on the IRS’s ongoing efforts to safeguard its systems, protect taxpayer information from cybersecurity threats and combat stolen-identity refund fraud.

 

Commissioner Koskinen's Speech to the National Press Club, March 24, 2016
https://www.irs.gov/uac/March-24-2016-Commissioner-Koskinen-Speech-to-National-Press-Club

Commissioner Koskinen speaks to the National Press Club in Washington, D.C.

 

IRS Seeks Volunteers for Taxpayer Advocacy Panel through May 16
https://www.irs.gov/uac/Newsroom/IRS-Seeks-Volunteers-for-Taxpayer-Advocacy-Panel-through-May-16

The IRS today announced it seeks civic-minded volunteers to serve on the Taxpayer Advocacy Panel, a federal advisory committee that listens to taxpayers, identifies major taxpayer concerns, as well as making recommendations for improving IRS service and customer satisfaction.

 

IRS Releases FY 2015 Data Book

https://www.irs.gov/uac/Newsroom/IRS-Releases-FY-2015-Data-Book

The Internal Revenue Service today released the 2015 IRS Data Book, a snapshot of agency activities for the fiscal year.  The 2015 Data Book describes activities conducted by the IRS from Oct. 1, 2014, to Sept. 30, 2015 and includes information about returns filed, taxes collected, enforcement, taxpayer assistance and the IRS budget and workforce, among others. This edition also contains charts that show trends, such as the decline in the number of audits and the reduction in telephone and in-person tax assistance, but increases in the use of online resources and volunteer tax assistance.

 

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:

Last-Minute Tips for Filing Your Taxes

Five Tax Tips on Estimated Tax Payments

Must-Know Tips about the Home Office Deduction

The Small Business Health Care Tax Credit: Seven Tax Tips for Employers

How the Taxpayer Advocate Service Can Help

 

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.

Employers: Have fewer than 50 Employees? Here’s how ACA Affects You

Interactive Tools Help You Understand Health Care Law’s Effect on Your Taxes

What to Do if You Get a Corrected or Voided Form 1095-A

 

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 

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