e-News for Small Business Issue 2019-13

 

e-News for Small Business August 9, 2019
Tax Resources for Small Business Small Business and Self-Employed One-Stop Resource Small Business Forms & Instructions Small Business Events Small Business Webinars e-File for Businesses and Self-Employed Businesses with Employees Small Business Products Self-Employed Individuals S Corporations Other Resources IRS.gov Find it Fast! All Forms and Instructions Filing Your Taxes Make a Payment Taxpayer Advocate Service Retirement Plans Tax Information for Charities and Other Non-Profits State Links SSA/IRS Reporter IRS Social Media	e-News for Small Business, Issue 2019-13 Inside This Issue IRS launches new Tax Withholding Estimator online tool Hot topic: Tax tips for summertime employment 1.  IRS launches new Tax Withholding Estimator online tool The Internal Revenue Service is alerting the small business and self-employed community about its recent launch of a new IRS Tax Withholding Estimator online tool. It replaces and expands the previous IRS Withholding Calculator. The new tool offers a mobile-friendly, step-by-step way for employees, self-employed individuals, and retirees to tailor the amount of income tax withheld from their wages, self-employment income and pension payments. Other features include: The ability to more effectively project either a tax due amount close to zero, or a refund amount during filing time. Self-employment tax for individuals who have self-employment income in addition to wages or pensions. A new progress tracker to help users see how much more information they need to input. The ability to move back and forth through the steps, correct previous entries and skip questions that don't apply. Tips and links to help the user quickly determine if they qualify for various tax credits and deductions. A mobile-friendly design. The IRS continues to urge everyone to do a Paycheck Checkup and review their withholding for 2019. This is especially important for those who faced an unexpected tax bill or a penalty when they filed earlier this year.  For more information, see: IRS launches new Tax Withholding Estimator; Redesigned online tool makes it easier to do a paycheck checkup. Back to top 2.  Hot topic: Tax tips for summertime employment Summertime workers often qualify for tax credits or deductions. Taxpayers working summer jobs should file a return regardless of whether they earn enough to owe federal income tax. Filing a return provides a refund for taxes withheld when they file next year. For more information, see: Have a sunnier tax season with these summertime IRS tax tips. Back to top               Thank you for subscribing to this IRS e-mail service. This message was distributed automatically from the mailing list e-News For Small Business. Please Do Not Reply To This Message.

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