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e-News for Small Business September 28, 2022

Tax Resources for Small Business

Small Business and Self-Employed One-Stop Resource [ [link removed] ]

Small Business Forms & Instructions [ [link removed] ]

Small Business Events [ [link removed] ]

Small Business Webinars [ [link removed] ]

e-File for Businesses and Self-Employed [ [link removed] ]

Businesses with Employees [ [link removed] ]

Small Business Products [ [link removed] ]

Self-Employed Individuals [ [link removed] ]

S Corporations [ [link removed] ]

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Other Resources

IRS.gov [ [link removed] ]

Find it Fast! [ [link removed] ]

All Forms and Instructions [ [link removed] ]

Filing Your Taxes [ [link removed] ]

Make a Payment [ [link removed] ]

Taxpayer Advocate Service [ [link removed] ]

Retirement Plans [ [link removed] ]

Tax Information for Charities [ [link removed] ]
and Other Non-Profits [ [link removed] ]

State Links [ [link removed] ]

SSA/IRS Reporter [ [link removed] ]

IRS Social Media [ [link removed] ]

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Issue Number:? Issue 2022-14

Inside This Issue

* IRS penalty relief refunds coming [ #Second ]
* Steps taxpayers should take if they received an IRS letter or notice [ #First ]
* Taxpayers have the right to representation [ #Third ]
* Make excise taxes easier by filing and paying electronically [ #Fourth ]
* Tax credit helps businesses hire certain categories of workers [ #Fifth ]
* A Closer Look: Streamlining Form 1023 - A Success Story [ #Sixth ]
* Other tax news [ #Seventh ] [ #Eighth ]
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*1.??**IRS penalty relief refunds coming*
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To help struggling taxpayers affected by the COVID-19 pandemic, the IRS will provide penalty relief to most people and businesses who filed certain 2019 or 2020 returns late.

To qualify for this relief, any eligible income tax return, not already filed, must be filed on or before September 30, 2022 [ [link removed] ].

The agency is also helping those who paid these penalties already. Nearly 1.6 million taxpayers will automatically receive more than $1.2 billion in refunds or credits. Many of these payments will go out by the end of September.

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*2.??**Steps taxpayers should take if they received an IRS letter or notice*
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When the IRS needs to ask a question about a taxpayer?s tax return, notify them about a change to their account or request a payment, the agency often mails a letter or notice to the taxpayer. Here?s what taxpayers should do if they receive an IRS letter or notice [ [link removed] ].

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*3.??Taxpayers have the right to representation*
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Taxpayers have the right to retain an authorized representative of their choice to represent them when dealing with the IRS [ [link removed] ]. They also have the right to seek assistance from a Low Income Taxpayer Clinic if they cannot afford representation.

Taxpayers can explore their rights, and the IRS?s obligations to protect them, by reading the Taxpayer Bill of Rights [ [link removed] ].

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*4.??Make excise taxes easier by filing and paying electronically*
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The IRS encourages business owners who file federal excise taxes to file and pay electronically.

Read about which excise tax returns can be e-filed and the advantages of doing so [ [link removed] ]. These excise forms are currently available for e-filing:


* *Form 720*, Quarterly Federal Excise Tax Return
* *Form 2290*, Heavy Highway Vehicle Use Tax
* *Form 8849*, Claim for Refund of Excise Taxes Return; Schedules 1, 2, 3, 5, 6 and 8 only

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*5.??Tax credit helps businesses hire certain categories of workers*
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The IRS updated information on the Work Opportunity Tax Credit (WOTC) [ [link removed] ]. The credit helps employers hire certain workers who are facing significant employment barriers, and it may help employers attract workers.

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*6.??A Closer Look: Streamlining Form 1023 - A Success Story*
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The latest column in ?A Closer Look? features Tax Exempt/Government Entities Division Commissioner Sunita Lough, discussing the past, present and future of the *Form 1023-EZ* [ [link removed] ], which was launched in 2014 to help small charitable organizations seeking federal tax-exempt status.

?Form 1023-EZ has reduced the burden on the smallest organizations applying for tax-exempt status and increased the efficiency of the Exempt Organization division?s operations,? said Lough. ?In TE/GE, we are committed to succeeding in our mission to provide our customers with top quality service by helping them understand and comply with tax laws and to protect the public interest by applying the tax law with integrity and fairness to all.?

Read the column in Spanish (Espa?ol) [ [link removed] ].

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*7.? Other tax news*
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The following information may be of interest to individuals and groups in or related to small businesses:


* IRS Free File available through October 17, but taxpayers shouldn?t wait to file 2021 returns [ [link removed] ]
* IRS accepting applicants for Compliance Assurance Process for 2023 [ [link removed] ]
* People who still haven?t filed a 2021 tax return should file electronically to avoid these common mistakes [ [link removed] ]

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