Scam and scheme threats; wildfire tax relief; wage statements due; Form 1099
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e-News for Small Business January 28, 2025
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Issue Number: 2025-02
Inside This Issue
* IRS and coalition announce filing season changes to help detect fraud [ #First ]
* California wildfire victims qualify for tax relief; some deadlines postponed to Oct. 15 [ #Second ]
* Reminder: Wage statements and certain information returns due Jan. 31 [ #Third ]
* File Form 1099 series returns for free online [ #Fourth ]
* Other tax news [ #Fifth ]
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* IRS and coalition announce filing season changes to help detect fraud*
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The IRS and partners in the Coalition of Scam and Scheme Threats released changes for the 2025 filing season [ [link removed] ] designed to help protect taxpayers from becoming victims of a scam or scheme and prevent tax professionals from having their credentials compromised.
The changes include:
* A new form involving the Fuel Tax Credit, designed to make it harder for promoters to mislead well-meaning taxpayers into claiming the credit.
* Increased review on a variety of “other withholding” claims on Form 1040 that have been targets of scammers and schemers.
* Reaching out to taxpayers who have potentially used “ghost preparers” to prepare tax returns. These preparers don’t identify themselves on the tax return, which is a red flag for taxpayers to be misled into a scam or scheme.
IRS.gov has details about reporting an abusive tax scheme or a tax return preparer [ [link removed] ] and phishing and online scams [ [link removed] ].
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* California wildfire victims qualify for tax relief; some deadlines postponed to Oct. 15*
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The IRS announced tax relief for businesses and individuals in southern California [ [link removed] ] affected by wildfires and straight-line winds that began Jan. 7.
These taxpayers now have until *Oct. 15, 2025*, to file various federal individual and business tax returns and make tax payments.
The current list of eligible localities is always available on the Tax relief in disaster situations [ [link removed] ] page on IRS.gov.
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* Reminder: Wage statements and certain information returns due Jan. 31*
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The IRS reminds businesses to submit wage statements and certain information returns [ [link removed] ] to the federal government by *Jan. 31*. Filing the required forms by deadline, without errors helps payers and recipients avoid penalties. It also helps the IRS fight fraud by making it easier to verify income information.
The Jan. 31 deadline applies to:
* Employers filing Form W-2, Wage and Tax Statement, and Form W-3, Transmittal of Wage and Tax Statements, with the Social Security Administration.
* Payers filing Form 1099-NEC, Nonemployee Compensation, with the IRS.
* Providing copies of W-2, Form 1099-NEC and other information returns to recipients.
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* File Form 1099 series returns for free online*
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Business taxpayers can file electronically any Form 1099 series information returns for free with the IRS Information Returns Intake System [ [link removed] ]. The IRIS Taxpayer Portal is for businesses of any size. It's secure, reduces the need for paper forms and doesn’t require special software.
Taxpayers need an IRIS Transmitter Control Code to access the IRIS Taxpayer Portal. This five -digit code provides extra security for filing.
First time users can read Publication 5717, IRIS Taxpayer Portal User Guide [ [link removed] ], for details about access and features.
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* Other tax news*
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These topics may be of interest to small businesses and their partners:
* Access retirement funds in a disaster [ [link removed] ].
* Get ready for tax filing season 2025 [ [link removed] ].
* IRS initiates Fast Track Settlement pilot programs [ [link removed] ] in effort to make Alternative Dispute Resolution faster and easier.
* IRS issues guidance for the District of Columbia and states [ [link removed] ] that have paid family and medical leave programs.
* Proposed regulations on new automatic enrollment requirement for 401(k) and 403(b) plans [ [link removed] ].
* Treasury, IRS request comments on proposed regulations and a draft form for certain corporate separations and reorganizations [ [link removed] ].
* Updated: frequently asked questions for the energy efficient home improvement and residential clean energy property credits [ [link removed] ].
Back to top [ #top ]
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