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Tax Resources for Small BusinessSmall Business and Self-Employed One-Stop ResourceSmall Business Forms & Instructions Small Business Events Small Business Webinars e-File for Businesses and Self-Employed Businesses with Employees Small Business Products Self-Employed Individuals S Corporations Other ResourcesIRS.govFind it Fast! All Forms and Instructions Filing Your Taxes Make a Payment Taxpayer Advocate Service Retirement Plans Tax Information for Charities and Other Non-Profits State Links SSA/IRS Reporter IRS Social Media | e-News for Small Business issue 2020-1Inside This Issue
1. News your employees can use: 2020 tax season for individual filers starts Jan. 27 This year’s tax season will begin for individual tax return filers on Jan. 27, 2020, when the IRS will begin processing 2019 tax year returns. Back to top 2. IRS helps workers, businesses with new Gig Economy Tax Center The gig economy is any activity where people earn income providing on-demand work, services or goods. Often, it’s through a digital platform like an app or website. The IRS has launched a new Gig Economy Tax Center on IRS.gov. There, digital platforms and businesses will find information on classifying workers, reporting payments, and filing taxes for a digital marketplace or business. Workers within the gig economy will find helpful tips and essential forms to accurately manage their taxes. Back to top 3. New year, new Standard Mileage Rates The IRS today issued the 2020 optional standard mileage rates (PDF) used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2020, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
4. IRS Free File now open Most taxpayers can get an early start on their federal tax returns as IRS Free File – featuring brand-name online tax providers − opens at IRS.gov/freefile for the 2020 tax filing season. For more information, see the IRS 2020 Free File announcement. Back to top 5. Opportunity Zone guidance The IRS recently issued final regulations providing details about investment in qualified opportunity zones (QOZ). The final regulations modified and finalized the proposed regulations issued on Oct. 28, 2018 and May 1, 2019. They provide additional guidance for taxpayers eligible to make an election to temporarily defer the inclusion in gross income of certain eligible gain. Back to top 6. Regulations regarding publicly held corporations The Treasury Department and the IRS issued proposed regulations to reflect changes from the Tax Cuts and Jobs Act (TCJA) on the tax deductibility of officers’ compensation by publicly held corporations. IRS Notice 2018-68 was released on Aug. 21, 2018, providing initial guidance on this deduction limitation. |
martes, 14 de enero de 2020
e-News for Small Business Issue 2020-1
Census Bureau Releases New Content on 2020Census.gov in 59 Languages
The Census Bureau launched an update to the 2020 website that includes content in 59 languages, language assistance guides, videos and more. |
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Tune In Tomorrow: U.S. Census Bureau to Unveil 2020 Census Advertising and Outreach Campaign
This event will show the Census Bureau’s commitment to reaching all audiences with advertisements in English and 12 other languages. |
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lunes, 13 de enero de 2020
Que ofrecemos a nuestros clientes?: Tax Tip 2020-01: Here are reasons for people to fi...
Que ofrecemos a nuestros clientes?: Tax Tip 2020-01: Here are reasons for people to fi...: Here are reasons for people to file a 2019 tax return While many people are required to file a tax return, it’s a good idea for everyone ...
Here are reasons for people to file a 2019 tax return
While many people are required to file a tax return, it’s a good idea for everyone to determine if they should file. Some people with low income are not required to file, but will need to do so if they can get a tax refund.
Here are five tips for taxpayers who are deciding whether to file a tax return:
Find out the general reasons to file
In most cases, income, filing status and age determine if a taxpayer must file a tax return. Other rules may apply if the taxpayer is self-employed or can be claimed as a dependent of someone else. There are other reasons when a taxpayer must file. The Interactive Tax Assistant can help someone determine if they the need to file a return.
Look at tax withheld or paid
Here are a few questions for taxpayers to ask themselves:
Here are five tips for taxpayers who are deciding whether to file a tax return:
Find out the general reasons to file
In most cases, income, filing status and age determine if a taxpayer must file a tax return. Other rules may apply if the taxpayer is self-employed or can be claimed as a dependent of someone else. There are other reasons when a taxpayer must file. The Interactive Tax Assistant can help someone determine if they the need to file a return.
Look at tax withheld or paid
Here are a few questions for taxpayers to ask themselves:
- Did the taxpayer’s employer withhold federal income tax from their pay?
- Did the taxpayer make estimated tax payments?
- Did they overpay last year and have it applied to this year’s tax?
If the answer is “yes” to any of these questions, they could be due a refund. They must file a tax return to get their money.
Look into whether they can claim the earned income tax credit
A working taxpayer who earned less than $55,592 last year could receive the EITC as a tax refund. They must qualify and may do so with or without a qualifying child. They can check eligibility by using the 2019 EITC Assistant on IRS.gov. Taxpayers need to file a tax return to claim the EITC.
Child tax credit or credit for other dependents
Taxpayers can claim the child tax credit if they have a qualifying child under the age of 17 and meet other qualifications. Other taxpayers may be eligible for the credit for other dependents. This includes people who have:
A working taxpayer who earned less than $55,592 last year could receive the EITC as a tax refund. They must qualify and may do so with or without a qualifying child. They can check eligibility by using the 2019 EITC Assistant on IRS.gov. Taxpayers need to file a tax return to claim the EITC.
Child tax credit or credit for other dependents
Taxpayers can claim the child tax credit if they have a qualifying child under the age of 17 and meet other qualifications. Other taxpayers may be eligible for the credit for other dependents. This includes people who have:
- Dependent children who are age 17 or older at the end of 2019
- Parents or other qualifying individuals they support
The Child-Related Tax Benefits tool can help people determine if they qualify for these two credits.
Education credits
There are two higher education credits that reduce the amount of tax someone owes on their tax return. One is the American opportunity tax credit and the other is the lifetime learning credit. The taxpayer, their spouse or their dependent must have been a student enrolled at least half time for one academic period to qualify. The taxpayer may qualify for one of these credits even if they don’t owe any taxes. Form 8863, Education Credits is used to claim the credit when filing the tax return.
There are two higher education credits that reduce the amount of tax someone owes on their tax return. One is the American opportunity tax credit and the other is the lifetime learning credit. The taxpayer, their spouse or their dependent must have been a student enrolled at least half time for one academic period to qualify. The taxpayer may qualify for one of these credits even if they don’t owe any taxes. Form 8863, Education Credits is used to claim the credit when filing the tax return.
More information:
Schedule 8812 (Form 1040), Child Tax Credit
Publication 972, Child Tax Credit
Free Tax Return Preparation for Qualifying Taxpayers
Choosing a tax professional
Free File
Let Us Help You
Schedule 8812 (Form 1040), Child Tax Credit
Publication 972, Child Tax Credit
Free Tax Return Preparation for Qualifying Taxpayers
Choosing a tax professional
Free File
Let Us Help You
Share this tip on social media -- #IRSTaxTip: Here are reasons for people to file a 2019 tax return. https://go.usa.gov/xpSgm.
Leon County Government Employment Opportunities - 01.13. 20
LEON COUNTY GOVERNMENT
EMPLOYMENT OPPORTUNITIES
______________________________
If you are driven by making a difference on the issues that matter most to our community and committed to demonstrating results, exceeding expectations in areas of customer service and exercising responsible stewardship of our community’s resources, then you may have what it takes to join our team.
Do you want to join the Leon County team? Apply Online.
CLOSING DATE: January 17, 2020
GIS Technician II
Network Systems Analyst I, II, or III
OPEN CONTINUOUSLY
Paramedic (PRN)
EMT (PRN)
Consolidated Dispatch Agency
Public Safety Communications Operator (Open Continuously)
For additional information on Leon County employment opportunities:
Drug Free Workplace and Equal Opportunity Employer
People Focused. Performance Driven
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January Commission Meeting Agenda
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Reminder - Stormwater Management Program Presentation
[Leon County/City of Tallahassee] Get Rooted in our Community with Arbor Day
viernes, 10 de enero de 2020
NIGHT TIME LANE CLOSURE: Two eastbound lanes closed on SR 826 / Sunny Isles Blvd. at Collins Avenue
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