Small Business Liaisons
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Upcoming events & IRS news releases 2/14/2018 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. March 15 -- Seattle/Live Webinar - Register, License, Go! 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 Mar 7, Apr 4 -- Starting a New Business Mar 23 – Saving Taxes for Small Businesses Feb 15, Apr 19 – Understanding Financial Statements Mar 23 -- Legal Basics that Small Business Owners Need to Know Spokane: http://scorespokane.org/workshops Mar 7 -- How to Start a New Business Webinar: How the New Tax Cuts and Jobs Act Impacts Your Small Business https://seattle.score.org/event/how-new-tax-cuts-and-jobs-act-impacts-your-small-business February 27 Congress just passed the most comprehensive tax reform in over 30 years. And with that comes more risk and opportunity for small businesses than any time in the last three decades. In this session, CPA and tax consultant Micah Fraim will explain: There are also several tax resources, including checklists, recorded webinars and more available here: https://seattle.score.org/content/tax-resources 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. Scam Alert: IRS Urges Taxpayers to Watch Out for Erroneous Refunds; Beware of Fake Calls to Return Money to a Collection Agency The Internal Revenue Service today warned taxpayers of a quickly growing scam involving erroneous tax refunds being deposited into their bank accounts. The IRS also offered a step-by-step explanation for how to return the funds and avoid being scammed. IRS: Avoid the Rush over Presidents Day Holiday; Online Tools, Resources Can Help With the surge of tax returns expected during the upcoming Presidents Day weekend, the Internal Revenue Service is offering taxpayers several tips and various time-saving resources to get them the help they need from the IRS quickly and easily. The IRS receives more phone calls on the day after Presidents Day than on any other day of the year. This year, that’s Tuesday, Feb. 20. So, ahead of the Presidents Day weekend, the IRS is reminding taxpayers to “Avoid the Rush,” detailing online options taxpayers and tax professionals can use to get information quickly to avoid busy signals and long wait times on the IRS toll-free hotline. Nearly every tax issue can be resolved from the convenience of a home or office. Avoid the Rush: Track Tax Refunds Online at IRS.gov https://www.irs.gov/newsroom/avoid-the-rush-track-tax-refunds-online-at-irsgov With millions of tax refunds being processed, the Internal Revenue Service reminds taxpayers they can get fast answers about their refund by using the “Where’s My Refund?” tool available on IRS.gov and through the IRS2Go app. To Help Taxpayers, IRS Clarifies Some Common Early Filing Season Myths https://www.irs.gov/newsroom/to-help-taxpayers-irs-clarifies-some-common-early-filing-season-myths With the 2018 filing season in full swing, the IRS offers taxpayers some basic tax and refund tips to clear up some common misbeliefs. IRS YouTube Videos: Key IRS Identity Theft Indicators Continue Dramatic Decline in 2017; Security Summit Marks 2017 Progress Against Identity Theft The Internal Revenue Service announced steep declines in tax-related identity theft in 2017, attributing the success to the Security Summit initiatives that help safeguard the nation’s taxpayers. Key indicators of identity theft dropped for the second year in a row in 2017. This includes a 40 percent decline in taxpayers reporting they are victims of identity theft in 2016. Since 2015, the number of tax-related identity theft victims has fallen by almost two-thirds and billions of dollars of taxpayer refunds have been protected. Tax Pros Urged to Step Up Security as Filing Scheme Emerges, Reminded to Report Data Thefts Seeing the emergence of a new filing season scam, the Internal Revenue Service urges tax professionals to step up security and beware of phishing emails that can secretly download malicious software that can help cybercriminals steal client data. In a new twist, the fraudulent returns in a few cases used the taxpayers' real bank accounts for the deposit. A woman posing as a debt collection agency official then contacted the taxpayers to say a refund was deposited in error and asked the taxpayers to forward the money to her. IRS Announces 2018 Pension Plan Limitations Not Affected by Tax Cuts and Jobs Act of 2017 The Internal Revenue Service today announced that the Tax Cuts and Jobs Act of 2017 does not affect the tax year 2018 dollar limitations for retirement plans announced in IR 2017-177 and detailed in Notice 2017-64. IRS Issues Guidance on Changes in Accounting Periods Related to the Transition Tax The Treasury Department and the IRS announced modifications to the procedures for changing the accounting period of foreign corporations owned by U.S. shareholders that are subject to the transition tax under the Tax Cuts and Jobs Act. Tax Issues for Alaska Native American Corporations and Alaska Native Settlement Trusts The Internal Revenue Service reminds Alaska Native Corporations and Alaska Native Settlement Trusts that they may be able to take advantage of certain benefits in the recently enacted tax reform legislation. IRS Names 8 New IRPAC Members https://www.irs.gov/newsroom/irs-names-8-new-irpac-members The Internal Revenue Service announced the selection of eight new members and 14 reinstated members for the Information Reporting Program Advisory Committee (IRPAC), which provides a forum for IRS officials and members of the public to address information reporting issues. IRS Statement on Retroactive Extender Provisions https://www.irs.gov/newsroom/irs-statement-on-retroactive-extender-provisions The IRS is reviewing the legislation signed Feb. 9 that retroactively extended and modified numerous tax provisions covering 2017. We are assessing these significant changes in the tax law and beginning to determine next steps. The IRS will provide additional information as quickly as possible for affected taxpayers and the tax community. Tax Tips https://www.irs.gov/uac/irs-tax-tips The Right to Be Informed – Taxpayer Bill of Rights #1 Taxpayers with Expired ITINs Should Renew Them Now to File Their 2017 Taxes Five Things to Remember About Exemptions and Dependents for Tax Year 2017 Tax Filing Season is Here – Things for Taxpayers to Consider How Taxpayers Across the Country Can Have their Taxes Prepared for Free
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