e-News for Small Business 2019-06

 

e-News for Small Business March 22, 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 2019-06 Inside this issue In the news: IRS concludes list of "Dirty Dozen" tax scams for 2019 IRS offers free March 28 webinar: Understanding how to do a Paycheck Checkup IRS expands penalty relief for taxpayers whose payments fell short in 2018 Two IRS publications every business owner and self-employed individual should read 1. In the news: IRS concludes list of "Dirty Dozen" tax scams for 2019: Agency encourages taxpayers to remain vigilant year-round 2.  IRS offers free March 28 webinar: Understanding how to do a Paycheck Checkup Tax season tip for employees: The IRS will provide a free online, web-based information session Thursday, March 28, 2019, on how to do a Paycheck Checkup using the IRS Withholding Calculator. A Paycheck Checkup can help employees see if they're withholding the right amount of tax from their paychecks. Too little could mean an unexpected tax bill or penalty. Taxpayers with more complex situations, such as those making estimated tax payments, might need to use Publication 505, Tax Withholding and Estimated Tax, instead of the calculator. For example, this includes people who owe self-employment tax, the alternative minimum tax, or tax on unearned income from dependents, and people with capital gains or dividends. Register for the March 28 Understanding how to do a Paycheck Checkup webinar, available in both English and Spanish. Back to top 3.  IRS expands penalty relief for taxpayers whose payments fell short in 2018 The IRS provided additional expanded penalty relief to taxpayers whose federal income tax withholding and estimated tax payments fell short of their total tax liability for 2018 by lowering to 80 percent the threshold required to qualify. The IRS is now waiving the estimated tax penalty for any taxpayer who paid at least 80 percent of their total tax liability through federal income tax withholding, quarterly estimated tax payments or a combination of the two. The revised waiver computation will be integrated into commercially-available tax software and reflected in the forthcoming revision of the instructions for Form 2210, Underpayment of Estimated Tax by Individuals, Estates, and Trusts. Back to top 4.  Two IRS publications every business owner and self-employed individual should read The 2019 revision of Form 656-Booklet, Offer in Compromise (OIC) will be available for download on IRS.gov, Monday, March 25. The booklet contains current forms and instructions for submitting an OIC. Using previous versions of the booklet may result in delayed processing of OIC applications. Publication 5318, Tax Reform: What's New for Your Business, provides an overview of many of the 2017 Tax Cuts and Jobs Act changes that affect business taxes. Topics include: Qualified business income deduction Depreciation Business related losses, exclusions and deductions Other miscellaneous provisions Additional help for filing business taxes is available in Publication 17, Your Federal Income Tax, and the IRS.gov tax reform information page. 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.

 

---

Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page. You will need to use your email address to log in. If you have questions or problems with the subscription service, please contact subscriberhelp.govdelivery.com.

This service is provided to you at no charge by the Internal Revenue Service (IRS).

---

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