e-News for Small Business Issue 2022-05

e-News for Small Business April, 7, 2022
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	Issue Number: 2022-05 Inside This Issue IRS reminds holders of foreign bank and financial accounts of April FBAR deadline A Closer Look: The timing is right to consider a career at the IRS Important filing season information Crowdfunding monies may be taxable; keep good records Other tax news 1.  IRS reminds holders of foreign bank and financial accounts of April FBAR deadline The IRS reminds U.S. citizens, resident aliens and any domestic legal entity that the deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR) is April 15. For additional information about filing deadlines, filers should look to Financial Crimes Enforcement Network's (FinCEN) website for further information. Back to top 2.  A Closer Look: The timing is right to consider a career at the IRS The IRS published the latest executive column, "A Closer Look," which features Ken Corbin, Commissioner, Wage & Investment Division and Chief Taxpayer Experience Officer, discussing why this is the right time to consider a career with the IRS. "We're looking to recruit and hire employees for a variety of positions, from entry-level to those in specialized fields and even management," said Corbin. "In addition to the positions available now in this hiring surge, you might be surprised to learn about some of the interesting jobs in our agency that support innovation, combat crime and terrorism, help taxpayers and ensure equality and fairness." Back to top 3.  Important filing season information File and pay taxes by April 18 deadline to avoid penalty and interest charges The federal income tax deadline is April 18, 2022, for most individual taxpayers. However, filing the 2021 tax return and paying taxes due late brings extra charges. It's important to file any return due on time and pay as much as possible to reduce penalty and interest charges. The video Avoiding Interest and Penalty Charges provides details. Extensions Get an automatic six more months to file; all taxpayers can use IRS Free File to request an extension Economic Impact Payments Letters issued about the third-round of payments; important steps to take for missing payments and corrections Revised third-round FAQs Refunds IRS has $1.5 billion in refunds for people who have not filed a 2018 federal income tax return; April deadline approaches Reasons why some tax refunds filed electronically take longer than 21 days Easy steps to avoid tax return errors that can delay processing or adjust refunds Tax Time Guides Electronic tax payment and agreement options available to taxpayers who owe Minimize cyber footprints, protect personal information online More filing season information IRS provides more forms, letters and publications in multilingual and alternative formats: Spanish Braille now available IRS reminds taxpayers they must check a box on Form 1040, 1040-SR or 1040-NR on virtual currency transactions for 2021 Back to top 4.  Crowdfunding monies may be taxable; keep good records Crowdfunding is a method of raising money through websites by soliciting contributions from a large number of people. The contributions may be solicited to fund businesses, for charitable donations, or for gifts. Back to top 5.  Other tax news The following information may be of interest to individuals and groups in or related to small businesses: IRS spotlights and highlights Criminal Investigation Law Enforcement FAQs Finalized: payment by Indian tribal governments and Alaska native corporations to individuals Revised: 2020 unemployment compensation exclusion Back to top         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.

 

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