New 1099 filing portal, tax season, wage statements deadline, free file, digital assets, avoid underpaying, storms, scams
 | |||
| |||
Tax Resources for Small BusinessSmall Business Self-Employment Center Small Business Forms & Instructions Small Business Tax Workshops, Meetings and Seminars Self-Employed Individuals Tax Center Other ResourcesForms, Instructions & Publications Retirement Plans for Small Entities and Self-Employed Tax Information for Charities
| Issue Number: 2023-02Inside This Issue
1. File information returns online with new free IRS portalSmall businesses can now file Form 1099 series information returns using a new online portal, available free from the IRS. Known as the Information Returns Intake System (IRIS), this free electronic filing service is secure, accurate and requires no special software. This may be especially helpful to any small business that currently sends their 1099 forms on paper to the IRS. Through it they can submit automatic extensions, make corrections and reduce expenses related to paper filing. 2. 2023 tax filing season kicks off with returns due April 18The 2023 tax filing season has started with a focus on improving service and a reminder to taxpayers to file electronically with direct deposit to speed refunds and avoid delays. The filing season news release covers efforts to increase customer service and offers tips taxpayers can follow for a smooth filing season. 3. January 31 deadline for wage statements: Forms W-2, W-3, 1099-NECThe IRS reminds employers and other businesses to file Tax Year 2022 Form W-2 and other wage statements by January 31, 2023. Form to be filed by employers by January 31 deadline include:
4. IRS Free File launchesThe IRS's Free File Guided Tax Preparation service is now live and ready for taxpayers to use. Free File went live January 13, 2023, 10 days prior to the 2023 filing season start date. Any taxpayer or family earning $73,000 or less in 2022 can use this free service. Because the official filing season did not start until January 23, IRS Free File providers accepted completed tax returns, but held them until they could be filed electronically on that date. 5. Updates to question on digital assets; taxpayers should continue to report all digital asset incomeTaxpayers must again answer a digital asset question and report all digital asset-related income when they file their 2022 federal income tax return, as they did for fiscal year 2021. The term "digital assets" has replaced "virtual currencies," a term used in previous years. The instructions help taxpayers find out:
6. Tax relief for storm victimsThe IRS is offering relief to storm victims in Federal Emergency Management Agency (FEMA) designated disaster areas. For parts of California, the tax relief postpones various tax filing and payment deadlines that occur starting on January 8, 2023. For parts of Georgia and Alabama, the tax relief postpones various tax filing and payment deadlines that occur starting on January 12, 2023. As a result, affected individuals and businesses will have until May 15, 2023, to file returns and pay any taxes that were originally due during this period, along with other relief measures. 7. Check tax withholding now to avoid underpaying taxesThe IRS reminds taxpayers who earn wages to use the Tax Withholding Estimator now to adjust their 2023 withholding. People's tax situations occasionally change through marriage or divorce, adding a child or having one move out on their own. Checking now and making necessary adjustments early in the year may help them avoid underpaying their taxes and the need for quarterly estimated tax payments. 8. Avoid scams: Understand how the IRS contacts taxpayersThe tax filing season is a popular time for scammers to call and try to dupe unsuspecting taxpayers. These thieves often make threatening or alarming calls posing as the IRS to try to steal taxpayer money or personal information. Find out how to recognize if the call is a scam – and what to do if you receive this kind of phone call. Learn more about how the IRS contacts taxpayers and how to know it's really the IRS reaching out. 9. Other tax newsThe following information may be of interest to individuals and groups in or related to small businesses:
Thank you for subscribing to this IRS email service. This message was distributed automatically from the mailing list e-News for Small Business. Please Do Not Reply To This Message. | ||
| This email was sent to business.solutions.ve@gmail.com by: Internal Revenue Service (IRS) · Internal Revenue Service · 1111 Constitution Ave. N.W. · Washington DC 20535 |  |
No comments:
Post a Comment