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Upcoming events & IRS news releases     5/30/2017

Announcements & Upcoming Events:

Free IRS Webinars

https://www.irs.gov/businesses/small-businesses-self-employed/webinars-for-small-businesses-1

Understanding Form 8300

(Report of Cash Payments Over $10,000 Received in a Trade or Business)

June 15, 2017 – 8:00 a.m. Pacific

Register & Attend: https://www.webcaster4.com/Webcast/Page/1148/20341

June 15, 2017 – 11:00 a.m. Pacific (closed captioning offered)

Register & Attend: https://www.webcaster4.com/Webcast/Page/1148/20342

 

Washington State Business Partnership Forum

http://www.des.wa.gov/services/contracting-purchasing/contracting-and-purchasing-events/business-partnership-forum/businesses

This educational and networking event, put on by the Washington State Department of Enterprise Services, is a great way to find out what opportunities there are to work with governmental organizations and how your company may be able to meet their needs. 

 

You will also be able to:

  • Network and initiate relationships with government purchasers.
  • Learn about diversity contracting opportunities with the state.
  • Get information of the state's Environmentally Preferred Purchasing (EPP) goals.
  • Gather important resource information that can help your company earn more revenue.

 

A full agenda of the opportunities at the forum for business participants can be found below.

Pre-registration admission to the Forum is $30.00 plus processing fees. Register now!

Registration will be available at the door for $40.00 plus processing fees.

 

June 1, 2017 from 3:00 p.m. to 8:00 p.m. in Tacoma
Greater Tacoma Convention and Trade Center
1500 Broadway
Tacoma, Washington 98402

 

Small Business Administration Workshops

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

SBA offers a variety of workshops, some online and others in person. Check the Events Calendar for a complete list.

 

Also check out the SBA Learning Center for a variety of free online courses, available anytime!  Here is an example of one:

Financing Options for Small Businesses

https://www.sba.gov/tools/sba-learning-center/training/financing-options-small-businesses?utm_medium=email&utm_source=govdelivery

This self-paced training exercise is an introduction to financing options for your business. Topics include determining your financial needs, loans, grants, venture capital, angel investors, crowd funding and other financial options available to small businesses. Duration: 30 minutes

 

SCORE Workshops

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

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

June 7, 21, July 5 -- Starting a New Business

May 31, June 21, July 19 – Taxes on Small Business

June 1 -- Understanding Financial Statements

 

Spokane: http://scorespokane.org/workshops

June 7, July 5, Aug 2 -- Starting 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.

 

How to Know it’s Really the IRS Calling or Knocking On Your Door

https://www.irs.gov/uac/newsroom/how-to-know-its-really-the-irs-calling-or-knocking-on-your-door

Many taxpayers have encountered individuals impersonating IRS officials – in person, over the telephone and via email. Don’t get scammed. We want you to understand how and when the IRS contacts taxpayers and help you determine whether a contact you may have received is truly from an IRS employee.  The IRS initiates most contacts through regular mail delivered by the United States Postal Service.

 

However, there are special circumstances in which the IRS will call or come to a home or business, such as when a taxpayer has an overdue tax bill, to secure a delinquent tax return or a delinquent employment tax payment, or to tour a business as part of an audit or during criminal investigations. Even then, taxpayers will generally first receive several letters (called “notices”) from the IRS in the mail.

 

Note that the IRS does not:

  • Demand that you use a specific payment method, such as a prepaid debit card, gift card or wire transfer. The IRS will not ask for your debit or credit card numbers over the phone.
  • Demand that you pay taxes without the opportunity to question or appeal the amount they say you owe. Generally, the IRS will first mail you a bill if you owe any taxes. You should also be advised of your rights as a taxpayer.
  • Threaten to bring in local police, immigration officers or other law-enforcement to have you arrested for not paying. The IRS also cannot revoke your driver’s license, business licenses, or immigration status. Threats like these are common tactics scam artists use to trick victims into buying into their schemes.

 

IRS: Home Office Deduction Often Overlooked by Small Business Owners

https://www.irs.gov/uac/newsroom/irs-home-office-deduction-often-overlooked-by-small-business-owners

The Internal Revenue Service reminds small business owners who work from a home office that there are two options for claiming the Home Office Deduction. The Home Office Deduction is often overlooked by small business owners.

 

For Hurricane Preparedness Week: IRS Offers Tips to Taxpayers Preparing for Hurricanes, Floods and Other Natural Disasters

https://www.irs.gov/newsroom/para-la-semana-de-preparacion-para-huracanes-irs-ofrece-consejos-a-contribuyentes-que-se-preparan-para-huracanes-inundaciones-y-otros-desastres-naturales

With the start of the Atlantic hurricane season looming on June 1, the Internal Revenue Service offered advice to taxpayers who may be affected by these types of storms, as well as other natural disasters. The IRS also wants taxpayers to know that the agency is here to help, including offering a special toll-free hotline to people in federally declared disaster areas, staffed with IRS specialists trained to handle disaster-related issues. This article is also available in Spanish:  Español

 

IRS YouTube Videos                                                                                               
Preparing for Disasters: English | Spanish | ASL

 

Employer Reminder: Reporting Tips versus Service Charges; Key Differences Between Categories Affect Employees, Tax Reporting

https://www.irs.gov/uac/newsroom/employer-reminder-reporting-tips-versus-service-charges-key-differences-between-categories-affect-employees-tax-reporting

The Internal Revenue Service reminds employers that so-called “automatic gratuities” and any amount imposed on the customer by the employer are service charges, not tips.   Service charges are generally wages, and they are reported to the employee and the IRS in a manner similar to other wages. On the other hand, special rules apply to both employers and employees for reporting tips. Employers should make sure they know the difference and how they report each to the IRS.

 

Prepared Remarks of John A. Koskinen Commissioner Internal Revenue Service Before the Council for Electronic Revenue Communications Enhancement Arlington, VA May 18, 2017

https://www.irs.gov/uac/newsroom/prepared-remarks-of-john-a-koskinen-commissioner-internal-revenue-service-before-the-council-for-electronic-revenue-communications-enhancement-arlington-va-may-18-2017

Commissioner Koskinen provides a written statement on the 2017 Filing Season and IRS Operations.

 

Tax Tips

https://www.irs.gov/uac/irs-tax-tips

Employee or Independent Contractor? Know the Rules

Tax Tips to Consider for Cash Intensive Small Businesses in the Sharing Economy

Hobby or Business? IRS Offers Tips to Decide

IRS Offers Tips for Disaster Preparedness

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