Hopefully everyone has successfully completed Form 1099 and Form W 2 processing for 2019. We plan to have our fist meeting of SELA in March. Stay tuned for more information.
In the meantime, here are some important tips from the IRS:
IRS News Releases – February 2019
IR-2019-09, February 7, 2019 – Today, towards the end of the second full week of the 2019 tax filing season, the IRS warned taxpayers to avoid unethical tax return preparers, known as ghost preparers.
All news releases are available at IRS Newsroom.
Tax Law Updates
- Visit the Tax Reform page and Tax Reform Small Business Initiative on IRS.gov for information on the Tax Cuts and Jobs Act. ***
- IRS Publication 5318, Tax Reform: What’s New for Your Business ***
- IRS Publication 5307, Tax Reform: Basics for Individuals and Families
- Tax Reform Resources Page includes drop-in articles, FAQs, tax tips, etc.
- Taxpayer Advocate Service’s Tax Reform Changes website shows how the new Tax Cuts and Jobs Act law may change future tax filings and helps everyone plan for these changes.
- Tax Tip 2019-06, February 7, 2019 – Ten things for taxpayers to think about when choosing a tax preparer ***
- Tax Tip 2019-05, February 6, 2019 – Where’s My Refund? tool lets taxpayers check status of their refund ***
- Tax Reform Tax Tip 2019-04, February 5, 2019 – Individuals can find answers to their questions about tax reform on IRS.gov ***
Tax Center of the Week
The links on this page provide information such as Service Wide Key Messages, Circular 230, and the Tax Gap for Tax Professionals.
Feel free to incorporate link and description on your website.
Small Business Tax Workshops
Tax workshops are offered in coordination with our partnering organizations. IRS offers small business material for the workshops. For the dates, times, locations and topics, please refer to IRS.gov.
NOTE – If your organization offers tax workshops (for free or for a minimal fee), we can advertise your events at no cost if you agree to use and/or distribute IRS material. Our goal is to make the workshops available to the widest audience.
Video Tax Tips
Other Video Outreach Products
The IRS Video Portal has video and audio presentations on topics of interest to small businesses, individuals and tax professionals. You will find video clips of tax topics, archived versions of live panel discussions and webinars to share with your membership. See information for Businesses.
- Tax Reform for You
- Tax Reform Due Diligence Requirements
- This webinar gives tax professionals updates and guidance on how the Tax Cuts and Jobs Act (TCJA) provisions will affect their due diligence requirements. It also addresses common errors, how to avoid them and applicable penalties if requirements are not met.
- Understanding Tax Reform Basics about Opportunity Zones
- This webinar gives an overview of Tax Reform changes for Small Businesses and Pass-Through Entities. Topics include: Definition of a Qualified Opportunity Zone, The requirements of becoming a Qualified Opportunity Zone, and Definition of Qualified Zone property.
- Tax Reform Basics for the Qualified Business Income Deduction (199A)
This webinar provides an overview of who will be eligible for the new Tax Reform provisions of the Qualified Business Income Deduction under Section 199A. It also shows calculations and basics for reporting.
This webinar will give an overview of Tax Reform changes for Employers. Topics will include changes to Employer Credit Family and Medical Leave, Employee Achievement Awards, Qualified Transportation Fringe Benefits, and others.
This webinar addresses Tax Reform changes related to Individual Taxpayers. Topics include changes to standard deductions, personal exemptions, itemized deductions, child tax credit, and other changes.
This webinar illustrates why some major segments of the population need to change their withholding soon and familiarizes tax professionals with how to use the IRS withholding calculator to help taxpayers change their withholding.
- Tax Reform Basics for Small Businesses and Pass-Through Entities
- The IRS issues tax information by email for many different audiences. Taxpayers can sign up to receive IRS email subscription services by visiting the e-News Subscriptions page on IRS.gov to view all the available subscriptions.
- E-News Subscriptions
- This webinar will give an overview of Tax Reform Changes for Small Businesses and Pass-Through Entities. Some of the topics will include changes to estimated taxes, deductions, and depreciation.
Janice M Barrios, CPP