Introduce your business to the region's largest government entities: King County, Washington State Department of Transportation, University of Washington, City of Seattle, Port of Tacoma, Washington State Office of Minorities and Women's Business Enterprises, Washington State Department of Enterprise Services, Sound Transit, Port of Seattle, and others. Attendees have the opportunity to meet government contracting representatives and network with contractors, consultants, and suppliers all at one event.
IRS Announcement & Upcoming Events
Free IRS Webinar: Understanding Tax Scams and Avoidance Schemeshttps://www.irs.gov/businesses/small-businesses-self-employed/webinars-for-small-businesses
This web conference will provide an overview of the following:
- Abusive Tax Schemes and Promotors: How You Recognize Them
- 2018 Dirty Dozen Tax Schemes
- Goal of IRS Preparer and Promoter Investigations
- Reporting Suspected Abusive Tax Promotions and Preparers
- Plus, a Live Q & A
Session 1: 11 a.m. ET, 10 a.m. CT, 9 a.m. MT, 8 a.m. PT, 7 a.m. Alaska
Register here: https://www.webcaster4.com/Webcast/Page/1148/26455
Session 2: 2 p.m. ET, 1 p.m. CT, 12 p.m. MT, 11 a.m. PT, 10 a.m. Alaska
Register here: https://www.webcaster4.com/Webcast/Page/1148/26458
Continuing Education: All participants who qualify will receive a Certificate of Completion.
Tax Professionals earn up to 1 CE Credit - Category: Federal Tax
Questions? Email: firstname.lastname@example.org
Small Business Administration Workshopshttps://www.sba.gov/offices/district/wa/seattle
SBA offers a variety of workshops, some online and others in person. Check the Events Calendar for a complete list.
July 19 – How to Get Money for Your Small Business (Seattle & Live Webinar)
July 19 – Intro to Business Startup (Lacey)
July 27 – Get Started (Spokane)
July 16, 23, 30 – Launch and Grow (Lakewood)
Also check out the SBA Learning Center for a variety of free online courses, available anytime!
Electronic Local SBA Resource Guide AvailableThere is now an electronic version of the local SBA resource guide! Please feel free to send the link out to your networks and share with small business owners and entrepreneurs.
You can get to the guide either via this direct link: https://www.sba.gov/sites/default/files/files/resourceguide_3157.pdf
Or go to www.sba.gov/wa look for the link titled “Seattle District Office Resource Guide” under Resource Guides in the lower left.
SCORE offers workshops designed to give you the skills necessary to start your own successful business.
Aug 22 – Saving Taxes for Small Businesses
Aug 1 -- Starting a New Business
Aug 9 -- Quick! I Need a Business License
Sept 13 – Understanding Financial Statements
Sept 5, Oct 3, Nov 7 -- How to Start a New Business
There are also several tax resources, including checklists, recorded webinars and more available here: https://seattle.score.org/content/tax-resources
IRS Updates & News Releases:
Did you know? One of the best ways to get information is by visiting the IRS Small Business Tax Center where you can learn everything from how to get an Employer Identification Number (EIN) online to how to best navigate an audit.
IRS Working on a New Form 1040 for 2019 Tax Season
As part of a larger effort to help taxpayers, the Internal Revenue Service plans to streamline the Form 1040 into a shorter, simpler form for the 2019 tax season. The new 1040 – about half the size of the current version -- would replace the current Form 1040 as well as the Form 1040A and the Form 1040EZ. The IRS circulated a copy of the new form and will work with the tax community to finalize the streamlined Form 1040 over the summer.
This new approach will simplify the 1040 so that all 150 million taxpayers can use the same form. The new form consolidates the three versions of the 1040 into one simple form. The new Form 1040 uses a “building block” approach, in which the tax return is reduced to a simple form. That form can be supplemented with additional schedules if needed.
Tax Security 101 – IRS, Security Summit partners launch new awareness campaign; Urge tax professionals to step up protections for client data
The Internal Revenue Service and its Security Summit partners today kicked off a summertime security awareness campaign for tax professionals with a new, expanded guide providing critical steps to protect client data and highlighting available resources. The new effort by the IRS, state tax agencies and the nation's private-sector tax industry follows continued security threats to tax and financial data held by tax professionals. Data thefts at tax practitioners’ offices continue to rise and result in fraudulent tax returns that can be especially difficult for the IRS and states to detect.
To mark the start of this awareness campaign, the IRS revised Publication 4557, Safeguarding Taxpayer Data, to better reflect the current threats to tax professionals. The guide outlines basic steps tax professionals should take, how to take them and provides details on how to comply with requirements for a data security plan. The IRS also created a new product, Publication 5293, Data Security Resource Guide for Tax Professionals, which highlights a compilation of IRS.gov resources for tax preparers.
Tax Security 101 – Security Summit outlines ‘Security Six’ basic safeguards for tax professionals’ computers and email
The Internal Revenue Service and the Security Summit partners outlined critical steps for tax professionals to protect their computers and email as well as safeguarding sensitive taxpayer data. The “Security Six” protections fall into several major security categories. The Security Summit partnership urges tax professionals across the nation to avoiding overlooking these basic security details as identity thieves increasingly target practitioners in search of valuable taxpayer data.
National Taxpayer Advocate identifies priority areas in mid-year report to Congress; focuses on customer service
National Taxpayer Advocate Nina E. Olson today released her statutorily mandated mid-year report to Congress that presents a review of the 2018 filing season, identifies the priority issues the Taxpayer Advocate Service (TAS) will address during the upcoming fiscal year and contains the IRS’s responses to each of the 100 administrative recommendations the Advocate made in her 2017 Annual Report to Congress. The most significant challenge the IRS faces in the upcoming year is implementing the Tax Cuts and Jobs Act of 2017 (TCJA), which among other things requires programming an estimated 140 systems, writing or revising some 450 forms and publications and issuing guidance on dozens of TCJA provisions.
Electronic Tax Administration Advisory Committee issues 2018 annual report
The Electronic Tax Administration Advisory Committee (ETAAC) today released its annual report, featuring numerous recommendations on a range of issues in electronic tax administration. ETAAC exists in support of the goal that paperless filing should be the preferred and most convenient method of filing tax and information returns. This is the Committee’s second annual report since it was realigned and expanded to focus on refund fraud and cybersecurity.
Tax bill this year? Check withholding soon, avoid another one next year
Taxpayers who owed additional tax when they filed their 2017 federal tax return earlier this year can avoid another unexpected tax bill next year by doing a “paycheck checkup” as soon as possible. The Tax Cuts and Jobs Act made major changes to the tax law, including increasing the standard deduction, removing personal exemptions, increasing the Child Tax Credit, limiting or discontinuing certain deductions and changing tax rates and brackets. These far-reaching changes could have a big impact on the tax refund or balance due on the tax return people file next year. The IRS Withholding Calculator and Publication 505, Tax Withholding and Estimated Tax, can help.
Veterans owed refunds for overpayments attributable to disability severance payments should file amended returns to claim tax refunds
The Internal Revenue Service is advising certain veterans who received disability severance payments after January 17, 1991, and included that payment as income that they should file Form 1040X, Amended U.S. Individual Income Tax Return, to claim a credit or refund of the overpayment attributable to the disability severance payment.
IRS offers summer tips for temporary jobs, marriage, deductions and credits
Before starting a summer job, taking a vacation or sending the kids off to camp, the Internal Revenue Service wants taxpayers to know that some summertime activities may qualify for tax credits or deductions. The IRS also recommends that taxpayers check the amount of their withholding taxes now to help avoid surprises next filing season.
A summer job in sharing economy may affect taxes
Taxpayers who owed tax this year should check their withholding soon
Reminder for extension filers: Oct. 15 is just around the corner
Here’s how taxpayers can protect themselves from scammers
What taxpayers can do when a letter arrives this summer
The Interactive Tax Assistant Helps Answer Many Tax Questions
Taxpayers can visit IRS.gov for tools to help with a wide range of tax topics