Small Business Liaisons
“We're acting to make it easier to do business in Washington"
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Upcoming events & IRS news releases 12/19/2017 Announcements & Upcoming Events: 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. Did you know the SBA Seattle District Office streams live webinars every second Thursday? Get your questions answered by business savvy experts from the comfort of your home or home office. Visit https://www.eventbrite.com/o/sba-seattle-district-office-7828614365 to see the full lineup of Free Thursday Workshops. Also check out the SBA Learning Center for a variety of free online courses, available anytime! SCORE Workshops SCORE offers workshops designed to give you the skills necessary to start your own successful business. Seattle: http://seattle.score.org/localworkshops Jan 3, Feb 7, Mar 7, Apr 4 -- Starting a New Business Jan 18, Feb 9 – Saving Taxes for Small Businesses Spokane: http://scorespokane.org/workshops Jan 3, Feb 7 -- How to Start a New Business Jan 31 – Cybersecurity for Small Business There are also several 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 Statement – Withholding for 2018 https://www.irs.gov/newsroom/irs-statement-withholding-for-2018 The IRS is continuing to closely monitor the pending legislation in Congress, and we are taking the initial steps to prepare guidance on withholding for 2018. We anticipate issuing the initial withholding guidance (Notice 1036) in January reflecting the new legislation, which would allow taxpayers to begin seeing the benefits of the change as early as February. The IRS will be working closely with the nation's payroll and tax professional community during this process. Consumer Alert: IRS Warns Taxpayers, Tax Pros of New Email Scam Targeting Hotmail Users The Internal Revenue Service warned taxpayers and tax professionals of a new email scam targeting Hotmail users that is being used to steal personal and financial information. The phishing email subject line reads: “Internal Revenue Service Email No. XXXX | We’re processing your request soon | TXXXXXX-XXXXXXXX”. The email leads taxpayers to sign in to a fake Microsoft page and then asks for personal and financial information. Note that the IRS will never: For more information on tax scams, please see Tax Scams/Consumer Alerts. For more information on phishing scams, please see Suspicious e-Mails and Identity Theft. Take Steps Now for Tax Filing Season https://www.irs.gov/individuals/steps-for-tax-filing-season Get ready today to file your 2017 federal income tax return. Changes for the tax filing season include ITINs, delays in refunds and validating your electronically filed return. As tax filing season approaches, the Internal Revenue Service reminds taxpayers there are things they should do now to get ready for filing season. Get Ready for Taxes: What to Do Before the Tax Year Ends Dec. 31 Get Ready for Taxes: Taxpayers with Expiring ITINs Should Submit Renewal Applications by Dec. 31 Get Ready for Taxes: Plan Ahead for 2018 Filing Season to Avoid Refund Delays Get Ready for Taxes: IRS.gov Offers Free Tax Help Get Ready for Taxes: Donations May Cut Tax Bills Standard Mileage Rates for 2018 Up from Rates for 2017 https://www.irs.gov/newsroom/standard-mileage-rates-for-2018-up-from-rates-for-2017 The Internal Revenue Service today issued the 2018 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2018, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: The business mileage rate and the medical and moving expense rates each increased 1 cent per mile from the rates for 2017. The charitable rate is set by statute and remains unchanged. IRS Provides Safe Harbors to Help Taxpayers Suffering Property Losses, Including Losses from Hurricanes As part of a wider effort to help victims of natural disasters, the Internal Revenue Service issued guidance providing safe harbor methods that individuals may use in determining the amount of their casualty and theft losses for their homes and personal belongings, including losses from recent hurricanes. Revenue Procedure 2018-08 provides safe harbor methods that individual taxpayers may use in determining the amount of their casualty and theft losses for their homes and personal belongings. Four of the safe harbor methods may be used for any qualifying casualty or theft loss, and three are specifically applicable only to losses occurring as a result of a Federally declared disaster. Revenue Procedure 2018-09 provides a safe harbor method under which individuals may use one or more cost indexes to determine the amount of loss to their homes as a result of Hurricane and Tropical Storm Harvey, Hurricane Irma and Hurricane Maria (2017 Hurricanes). To help taxpayers navigate casualty loss issues, the IRS has created a special web page: Tax Law Provisions for Disaster Areas, with additional information for disaster victims. IRS Statement - Secure Access https://www.irs.gov/newsroom/irs-statement-secure-access The Internal Revenue Service announced that taxpayers may resume creating new accounts for Get Transcript Online and certain other online tools that are protected by Secure Access authentication. Taxpayers also may use their IRS2Go app to access their accounts by using a new “Security” feature. This “Security” feature will allow the app to generate a unique security code without being connected to the internet. Taxpayers must perform a one-time registration process for the app while connected to the Web. Use of Secure Access to create new accounts was suspended recently as the IRS transitioned to a new identity-proofing vendor, Experian. Existing users were not affected. The transition has been completed and all Secure Access protected tools will be available to new users starting Dec. 10. IRS Provides Additional Relief for Partnerships and Certain Other Entities The Internal Revenue Service has issued revised guidance extending relief for certain partnerships, real estate mortgage investment conduits (REMICs), and other entities that did not file the required returns by the new due date for tax years beginning in 2016. Interest Rates Remain the Same for the First Quarter of 2018 https://www.irs.gov/newsroom/interest-rates-remain-the-same-for-the-first-quarter-of-2018 The IRS announced that interest rates will remain the same for the calendar quarter beginning Jan. 1, 2018. Tax Tips https://www.irs.gov/uac/irs-tax-tips Resources on IRS.gov Help Taxpayers Get Ready to File Taxes Strong Passwords Help Keep Tax Data Safe Taxpayers Should Protect Data All Year Round Get to Know the Taxpayer Bill of Rights – Part 2 Get to Know the Taxpayer Bill of Rights – Part 1 Five Signs of Small Business Identity Theft, New Protection Methods National Tax Security Awareness Week: Thieves Use W-2 Scam to get Employee Data National Tax Security Awareness Week: Five Steps Data Breach Victims Can Take National Tax Security Awareness Week: Recognize Phishing Email Scams National Tax Security Awareness Week: Eight Steps to Keep Online Data Safe
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