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Highlights from National Small Business Week 2021

The IRS continues to provide materials and information to help small business owners and self-employed individuals comply with filing and paying requirements. Here’s a recap of key topics covered in IRS messages during National Small Business Week. Small businesses...

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  • September 22, 2021

IRS reminds business owners to correctly identify workers as employees or independent contractors

WASHINGTON — During National Small Business Week, the Internal Revenue Service reminds business owners that it’s critical to correctly determine whether the individuals providing services are employees or independent contractors. An employee is generally considered to be anyone who...

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  • September 21, 2021

IRS resources to help small business employers understand and meet their tax responsibilities

This is National Small Business Week. The IRS acknowledges that small business employers have unique tax responsibilities, and they make valuable contributions to the economy. The agency has a variety of information and resources to help employers understand and...

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  • September 20, 2021

Understanding the tax responsibilities that come with starting a business

Small business owners have a variety of tax responsibilities. The IRS knows that understanding and meeting tax obligations is vital to the success of all businesses, especially a new one. IRS.gov has the resources and information to help people...

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  • September 16, 2021

Small business owners should see if they qualify for the home office deduction

Many Americans have been working from home due to the pandemic, but only certain people will qualify to claim the home office deduction. This deduction allows qualifying taxpayers to deduct certain home expenses on their tax return when they...

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  • September 15, 2021

IRS: Tax relief now available to Ida victims in Pennsylvania; Oct. 15 deadline, other dates extended to Jan. 3

WASHINGTON — Victims of Hurricane Ida in parts of Pennsylvania now have until Jan. 3, 2022, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today. The IRS has also provided...

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  • September 14, 2021

Here’s how taxpayers can rebuild records after a natural disaster

After a natural disaster, taxpayers need records to help them prove and recover disaster-related losses. This may be for tax purposes, getting support from federal assistance program or for insurance claims. While personal or business property may have been...

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  • September 10, 2021

IRS: Tax relief now available to victims of Hurricane Ida; Oct. 15 deadline, other dates extended to Jan. 3

WASHINGTON — Victims of Hurricane Ida that began on Aug. 26 now have until Jan. 3, 2022, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today. The IRS is offering...

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  • September 8, 2021

All taxpayers have the right to challenge the IRS’s position and be heard

Taxpayers have the right to challenge the IRS’s position and be heard. This is part of the Taxpayer Bill of Rights, which clearly outlines the fundamental rights every taxpayer has when working with the IRS. Taxpayers have the right...

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  • September 3, 2021

IRS overlooked billions in taxes from S corp execs

The Internal Revenue Service has stepped up efforts to collect employment taxes from S corporation officers, but business owners are still getting away with avoiding billions of dollars in taxes. A new report, released Tuesday by the Treasury Inspector General...

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  • September 2, 2021

Important additional guidance for employers claiming the employee retention credit

The IRS recently issued further guidance on the employee retention credit. This includes guidance for employers who pay qualified wages after June 30, 2021, and before January 1, 2022, and guidance on miscellaneous issues that apply to the employee...

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  • August 23, 2021

Retirement and taxes: Understanding IRAs

Individual Retirement Arrangements, or IRAs, provide tax incentives for people to make investments that can provide financial security for their retirement. These accounts can be set up with a bank or other financial institution, a life insurance company, mutual...

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  • August 20, 2021

Common questions about the advance child tax credit payments

The advance child tax credit allows qualifying families to receive early payments of the tax credit many people may claim on their 2021 tax return during the 2022 tax filing season. The IRS will disburse these advance payments monthly...

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  • August 18, 2021

IRS: Families now receiving August Child Tax Credit payments; still time for low-income families to sign up

WASHINGTON — The Internal Revenue Service and the Treasury Department announced today that millions of American families are now receiving their advance Child Tax Credit (CTC) payment for the month of August as direct deposits begin posting in bank...

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  • August 17, 2021

What people should and should not do if they get mail from the IRS

Every year the IRS mails letters or notices to taxpayers for many different reasons. Typically, it’s about a specific issue with a taxpayer’s federal tax return or tax account. A notice may tell them about changes to their account...

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  • August 16, 2021

What taxpayers need to know about making 2021 estimated tax payments

Small business owners, self-employed people, and some wage earners should look into whether they should make estimated tax payments this year. Doing so can help them avoid an unexpected tax bill and possibly a penalty when they file next...

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  • August 12, 2021

Tax security tip: Get an IP PIN to help stop identity thieves

The IRS and its Security Summit partners recently kicked off their annual summer campaign. This year’s theme, Boost Security Immunity: Fight Against Identity Theft, urges tax pros to step up their efforts to protect client data. An IP PIN is...

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  • August 11, 2021

IRS cautions taxpayers about fake charities and scammers targeting immigrants

The IRS continues to observe criminals using a variety of scams that target honest taxpayers. In some cases, these scams will trick taxpayers into doing something illegal or that ultimately causes them financial harm. These scammers may cause otherwise...

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  • July 28, 2021

Things people do during the summer that might affect their tax return next year

It’s summertime and for many people, summertime means change. Whether it’s a life change or a typical summer event, it could affect incomes taxes. Here are a few summertime activities and tips on how taxpayers should consider them during...

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  • July 26, 2021

What taxpayers need know about using the IRS Tax Withholding Estimator

All taxpayers should use the IRS Tax Withholding Estimator to check their withholding. This tool helps people make sure their employers are taking out the right amount of tax from the employee’s paychecks. It can be used by workers,...

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  • July 19, 2021