Free Webinar: Reporting of Employer Provided Healthcare Coverage on Form W-2
http://www.irs.gov/businesses/small/article/0,,id=158856,00.html#2
Oct 31 -- 11:00 a.m. (PT)
This webinar will explain the Affordable Care Act provision that requires some employers to report health care coverage on Form W-2.
Learn about:
What changes employees will see in their Form W-2 due to the coverage reporting
When employers must begin reporting the cost of coverage on the Form W-2
Transitional relief for certain employers, plans, and situations
Which employers need to report the cost of coverage on the Form W-2
How employers will report the cost of coverage on the Form W-2
What valuation methods employers can use to determine the amounts to report on the Form W-2
CPE credit is not being offered for this webinar. To register for this event, visit the Internal Revenue Service Webinar Registration Web Site.
Related links:
IR-2011-31, IRS Issues Interim Guidance on Informational Reporting of Employer-Sponsored Health Coverage
Employer-Provided Health Coverage Informational Reporting Requirements: Frequently Asked Questions
BBB Secure Your ID Day: Gather Unwanted Documents for Fall Shred Event
http://alaskaoregonwesternwashington.bbb.org/secure-your-id
The Better Business Bureau is partnering with America's Credit Union and Cintas Document Management to bring free bulk shredding services to South Sound residents. BBB's goal is to help consumers securely shred personal documents to prevent identity theft.
Saturday, Oct. 22 -- 9 a.m. – 1 p.m.
1495 Wilmington Drive, DuPont, WA 98327
Drive up and drop off up to three bags or boxes of unwanted documents per person. No cardboard or three-ring binders please. Items will be securely shredded on-the-spot by Cintas for free. Donate old cell phones: ACU and BBB are collecting for Cell Phones for Soldiers. Donated phones help raise the funds needed to purchase international calling cards for deployed soldiers. For more information, please contact BBB serving Alaska, Oregon and Western Washington at 206-431-2222 or events@thebbb.org.
Business Tax Requirements – Offered in Spanish – Yakima & Sunnyside
http://www.rcdr.biz/default.htm
October 18 – Sunnyside -- Work Source Office, 1925 Morgan Road
6:00-8:30 pm
or
October 20 – Yakima -- Rural Community Development Resources, 22 S 3rd Ave
6:00-8:30 pm
Rural Community Development Resources, in partnership with the IRS, and the Washington State Departments of Labor & Industries and Employment Security will be providing educational workshops for limited English speaking Latino entrepreneurs and start up businesses on employment taxes, and state and federal business tax filing and reporting, including IRS Form 1040 Sch C, Sch SE and credits. Call (509) 453-5133 for more information or to register.
THIS SEMINAR IS IN SPANISH.
Small Business Taxes & Bookkeeping for the Small Business Owner – Seattle SBA Education and Training Center
2nd & 4th Thursday of each month - 10:00 am to 11:00 am
Upcoming workshop dates: Oct 27, Nov 10
4th & Battery Building - 2401 Fourth Avenue, Suite 450, Seattle
Learn about important information regarding your tax responsibilities as a small business owner, find out what taxes to pay and when they are due. Please pre-register by calling 206-553-2664 or e-mail workshops@sba.gov
SBA and SCORE also offer a variety of other workshops for small business owners – find out more here: http://www.sba.gov/about-offices-content/2/3157
Payroll Workshop – Seattle SBA Education and Training Center
2nd Thursday of each month -- 8:30 am to 9:30 am
Upcoming workshop dates: Nov 10
4th & Battery Building - 2401 Fourth Avenue, Suite 450, Seattle
Have you been in business for a while? Are you ready to incorporate? Hire employees? Want to know more about payroll, benefits, and human resources? If you need to make informed decisions about growing your business, this workshop is for you. Key information covered: 1) Contractor versus employee; 2) Keeping current on ever changing tax rules; 3) Payroll software and business owner options; 4) Strategies to empower yourself as an entrepreneur.
Please pre-register by calling 206-553-2664 or e-mail workshops@sba.gov
SBA and SCORE also offer a variety of other workshops for small business owners – find out more here: http://www.sba.gov/about-offices-content/2/3157
Explore Self-Employment and Learn How to Start Your Own Business!
http://nwwbc.seattleccd.com/node/81
Self Employment may not be for everyone, but if you think that you have the experience, interest, and motivation, these workshops can be an important first step towards a successful new beginning. This workshop will give you an opportunity to assess your skills in order to determine if self employment is a realistic option for you.
3rd Monday of each month
Where: Worksource – Oak Harbor
Cost: FREE!
For more information or to register, contact the Northwest Washington Business Center at (425) 423-9090 or infonwwbc@seattleccd.com.
Seattle SCORE Workshops
http://seattle.score.org/events
SCORE offers workshops designed to give you the skills necessary to start your own successful business.
Nov 2, Dec 7 -- Starting a New Business
4th & Battery Building - 2401 Fourth Avenue, Suite 450, Seattle
Starting Your Own Business -- Spokane SBDC
http://wsbdc.org/class-detail?classid=371
The Spokane SBDC is now offering a Starting Your Own Business Seminar in Spokane the 3rd Wednesday of each month, starting September 21. If you have considered starting your own business, or are ready to jump start a small business you already have, you may want to attend this one evening seminar. Please register on the SBDC website training calendar http://wsbdc.org/training-calendar or use the direct link in the class title. If you have difficulty with on line registration or have other registration questions contact Cindy Doyl at cdoyl@wsu.edu or 509-358-7890.
Oct 19 – 6:00 – 8:30 pm
(Every Third Wednesday from 6 - 8:30 pm)
Cost: $36
Held at the Spokane Small Business Development Center
665 N Riverpoint Blvd., Suite 201, Spokane WA 99202
Spokane SCORE Workshops
http://www.scorespokane.org/workshops.php
Spokane Regional Business Center (SRBC), 801 W. Riverside Avenue, Suite 444, Spokane
Financial Record Keeping – Oct 26
How to Start a New Business – Nov 2
Cost: $40 if registered in advance
Check website for current listings and registration information.
Employer's Introduction to L&I Workshops
http://www.lni.wa.gov/Safety/TrainTools/Workshops/Available/EmpOrien/default.asp
This workshop is designed for new businesses or businesses that plan to hire workers for the first time. It explains an employer’s rights and responsibilities and provides an overview of the services and resources available at Labor and Industries.
Nov 9 – Mt. Vernon – 9am – 12 pm
Nov 17 -- Tacoma – 1:00 – 3:30 pm
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.
Tax Extension Reminder: Don't Overlook Special Individual and Small Business Tax Benefits; Choose e-file, e-pay
http://www.irs.gov/newsroom/article/0,,id=247198,00.html
The Internal Revenue Service urges taxpayers whose tax-filing extensions run out soon to double check their returns for expanded individual and business tax benefits, and then file their returns electronically using IRS e-file or the Free File system. Many of the nearly 10.1 million taxpayers who requested an automatic six-month extension this year have yet to file. IRS e-file is fast, accurate and secure, making it an ideal option for those rushing to meet the Oct. 17 deadline that applies to most people who requested extensions, or the special Oct. 31 deadline that applies to many taxpayers affected by recent natural disasters.
Most taxpayers qualify for e-file regardless of whether they prepare their returns themselves or use a paid preparer and regardless of whether they live in the United States or abroad. In addition, those with incomes at or below $58,000 can file their returns for free using the Free File link on IRS.gov. Taxpayers who file electronically can also e-pay by authorizing an electronic funds withdrawal or making a credit card payment.
IRS Announces New Voluntary Worker Classification Settlement Program; Past Payroll Tax Relief Provided to Employers Who Reclassify Their Workers
http://www.irs.gov/newsroom/article/0,,id=246203,00.html
The Internal Revenue Service has launched a new program that will enable many employers to resolve past worker classification issues and achieve certainty under the tax law at a low cost by voluntarily reclassifying their workers. This new program will allow employers the opportunity to get into compliance by making a minimal payment covering past payroll tax obligations rather than waiting for an IRS audit. This is part of a larger “Fresh Start” initiative at the IRS to help taxpayers and businesses address their tax responsibilities.
“This settlement program provides certainty and relief to employers in an important area,” said IRS Commissioner Doug Shulman. “This is part of a wider effort to help taxpayers and businesses to help give them a fresh start with their tax obligations.”
The new Voluntary Classification Settlement Program (VCSP) is designed to increase tax compliance and reduce burden for employers by providing greater certainty for employers, workers and the government. Under the program, eligible employers can obtain substantial relief from federal payroll taxes they may have owed for the past, if they prospectively treat workers as employees. The VCSP is available to many businesses, tax-exempt organizations and government entities that currently erroneously treat their workers or a class or group of workers as nonemployees or independent contractors, and now want to correctly treat these workers as employees. See the full article for details on which employers are eligible to participate.
What Employers Need to Know About Claiming the Small Business Health Care Tax Credit
http://www.irs.gov/newsroom/article/0,,id=246605,00.html
Many small employers that pay at least half of the premiums for employee health insurance coverage under a qualifying arrangement may be eligible for the small business health care tax credit. This credit can enable small businesses and small tax-exempt organizations to offer health insurance coverage for the first time. It also helps those already offering health insurance coverage to maintain the coverage they already have. The credit is specifically targeted to help small businesses and tax-exempt organizations that primarily employ 25 or fewer workers with average income of $50,000 or less. See the full article for what small employers need to know so they don’t miss out on the credit for tax year 2010.
IRS Issues Guidance to Further Implement Return Preparer Oversight
http://www.irs.gov/newsroom/article/0,,id=246227,00.html
The Internal Revenue Service has provided additional clarification for tax return preparers about when to renew their preparer tax identification numbers (PTINs), how suitability testing will be conducted, and when the continuing education requirement will begin. Notice 2011-80 provides that PTINs must now be renewed on a calendar year basis. All PTIN holders must renew their numbers using the online PTIN application or paper Form W-12 and pay the required fee ($64.25 for 2012) after Oct. 15 and before Jan. 1 annually. The return preparer initiative requires anyone who is paid to prepare all or substantially all of any federal tax return or claim for refund to register with the IRS and obtain a PTIN. Certain preparers also must pass a competency examination, undergo a suitability check and complete continuing education courses annually. The IRS will designate individuals who meet these requirements as a Registered Tax Return Preparer. Individuals designated as a Registered Tax Return Preparer will be authorized to prepare federal tax returns and claims for refunds and to represent their clients during an IRS examination of a tax return or claim for refund that the individual signed as the paid tax return preparer. The notice also clarifies a number of other issues.
Recent Articles from e-News for Small Businesses
Update on heavy highway vehicle use tax
A new video outlines recent changes for filing Form 2290, Heavy Highway Vehicle Use Tax return.
Reminder: Federal Payroll Tax Deposits must be made electronically
As of Jan. 31, 2011, using Federal Payroll Tax Deposit coupons F8109 or F8109B is no longer a deposit option. Federal tax deposits must be made electronically. Payments mailed to the Federal Tax Deposit mailbox in St. Louis are being returned.
Notice 2011-81 provides the 2011-2012 special per diem rates for taxpayers to use in substantiating the amount of ordinary and necessary business expenses incurred while traveling away from home.
IR-2011-94, IRS Shows Continued Progress on International Tax Evasion
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