IRS UPDATES:
1. Charge to increase for copies of tax returns
Beginning Nov. 1, the fee for an exact copy of a previously-filed and processed tax return and all attachments will increase to $57.
The IRS can provide a tax return transcript for many returns free of charge. A transcript contains the information most mortgage companies and other lending institutions require for loan and employment verification purposes.
2. Address correction for ordering Federal Tax Deposit Coupons
In the Oct. 1 edition of e-News for Small Businesses we included a link to Headliner 245 for information on ordering blank Federal Tax Deposit Coupons. The address included in the Headliner was incorrect.
The correct address is:
Internal Revenue Service
National Distribution Center
1201 N. Mitsubishi Motorway
Bloomington, IL 61705-6613
3. Business closing? Watch SBTV.com for information
There is more involved in closing your business than just locking the doors. Today’s SBTV.com daily news looks at a business’s final tax responsibilities.
Next Wednesday’s newscast features information on whether an activity is a hobby or a business.
Visit IRS’s partner page on the SBTV.com site for archived federal tax stories.
4. IRS/SSA Employment Tax Update Webinar
IRS and the Social Security Administration invite payroll professionals to attend a free Webinar on the latest employment tax filing information.
5. Recent announcements for small businesses
IR-2008-117, 2009 Inflation Adjustments Widen Tax Brackets and Expand Tax Benefits
IR-2008-118, IRS Announces Pension Plan Limitations for 2009
TD 9428, Final regulations relating to the treatment of open account debt between S corporations and their shareholders.
IRS Small Business: http://www.irs.gov/businesses/small/index.html
Small Business Tax Workshops, Phone Forums and Webinars http://www.irs.gov/businesses/small/article/0,,id=99202,00.html
