(435) 563-6226       info@smithfieldcity.org

Smithfield City
96 South Main
Smithfield, UT 84335
Hours: 9:00 am to 5:00 pm
ph: (435) 563-6226
fax: (435) 563-6228

info@smithfieldcity.org

 

Smithfield City, Utah

IRS News Releases & Headliners

 

Announcements & Upcoming Events:

 

Tax filing questions or need to check on a tax account issue?

Call the IRS Business & Specialty Toll Free number, 1-800-829-4933, open Monday – Friday, 7:00 a.m. – 7:00 p.m. your local time (Alaska & Hawaii follow Pacific Time).  You can find a complete list of IRS toll free numbers here. And yes, during the tax season there will be long hold times on that line!

 

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.

 

2014 Utah Small Business Workshops Schedule

Presented by the Internal Revenue Service,

Utah State Tax Commission and the

Utah Small Business Development Center

Employment Tax Workshops:  8:00 a.m. –  5:00 p.m.

August 21, 2014 – September 18, 2014 – October 16, 2014 – November 20, 2014

Employment Tax Workshops prepare businesses with employees for their employment tax responsibilities.  Federal & State tax issues are discussed.  Information also presented on other issues facing employers. 

Choosing a Business Entity:  8:30 a.m. – 12:00 p.m.     

September 11, 2014 – November 13, 2014

 

This workshop deals with choosing the correct entity for your business.  It provides legal aspects of each entity to determine the most appropriate for your business.  The SBDC will also provide a summary of the services it offers to small business owners.

These classes are held at Corporate Partnership Center Building – Room 110

 

Tax Implications Workshops:  8:30 a.m. – 11:00 a.m.

LLC and S-Corporation – July 31, 2014 – September 4, 2014

Entity workshops deal with tax situations specific to LLC and S-Corporations.

These classes are held at Corporate Partnership Center Building – Room 110/333

 

All workshops are held at Salt Lake Community College – Larry H. Miller Campus

9750 South 300 West, Sandy, Utah.  Register by phone at 801-957-5200 or 801-957-5201.

Sales Tax Workshops:  8:30 a.m. – 11:30 a.m.

August 12, 2014 – October 21, 2014

 

Sales tax workshops helps new business owners understand the basics of Utah’s Sales and use tax, including: Licensing requirements, tax rates, filing returns, remitting tax and the basics of what is taxable versus what is exempt.

 

The Utah CPE Registry has approved this class for 3 CPE credit hours.  Sales tax workshops are all held at the State Tax Commission.  210 N. 1950 W.  SLC, Room 1026.  Register online at taxtraining@utah.gov or call 801-297-6225.  Requests accepted through the week before each class.

 

 

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.

 

National Taxpayer Advocate Identifies Priority Areas and Challenges in Mid-Year Report to Congress

The National Taxpayer Advocate today released a mid-year report to Congress that identifies the priority issues the Taxpayer Advocate Service will address during the upcoming fiscal year. These include the Taxpayer Bill of Rights, issuing refunds to victims of return preparer fraud, continuing to make improvements in the Exempt Organizations area and expanding the voluntary return preparer certification program to include competency testing.

 

New 1023-EZ Form Makes Applying for 501(c)(3) Tax-Exempt Status Easier; Most Charities Qualify

The Internal Revenue Service has introduced a new, shorter application form to help small charities apply for 501(c)(3) tax-exempt status more easily. The new Form 1023-EZ, available on IRS.gov, is three pages long, compared with the standard 26-page Form 1023. Most small organizations, including as many as 70 percent of all applicants, qualify to use the new streamlined form. Most organizations with gross receipts of $50,000 or less and assets of $250,000 or less are eligible. The change will allow the IRS to speed the approval process for smaller groups and free up resources to review applications from larger, more complex organizations while reducing the application backlog. Currently, the IRS has more than 60,000 501(c)(3) applications in its backlog, with many of them pending for nine months.

 

Unused ITINS to Expire After Five Years; New Uniform Policy Eases Burden on Taxpayers, Protects ITIN Integrity

Individual Taxpayer Identification Numbers (ITINs) will expire if not used on a federal income tax return for any year during a period of five consecutive years, the IRS announced. To give all interested parties time to adjust and allow the IRS to reprogram its systems, the IRS will not begin deactivating ITINs until 2016.

 

New IRS Filing Season Program Unveiled for Tax Return Preparers

The Internal Revenue Service announced that guidance will soon be issued outlining a new voluntary program designed to encourage education and filing season readiness for paid tax return preparers. The program will be in place to help taxpayers during the 2015 filing season.  The Annual Filing Season Program will allow unenrolled return preparers to obtain a record of completion when they voluntarily complete a required amount of continuing education (CE), including a course in basic tax filing issues and updates, ethics and other federal tax law courses.

 

IRS Electronic Tax Administration Advisory Committee Delivers Report to Congress

The Electronic Tax Administration Advisory Committee (ETAAC) presented its 2014 Annual Report to Congress. The report discusses five groups of recommendations on issues in electronic tax administration.

Highlights of the report include 11 recommendations on the following key outcomes:

·         Remove barriers for e-filing employment tax series Form 94x

·         Increase efficiency and accuracy of the foreign financial institution registration portal

·         Provide one IRS-issued Personal Identification Number (PIN) as the authentication component of an electronic signature

·         Create an online IRS account for individual and business taxpayers and tax professionals

·         Increase accuracy and reduce burden in reporting the advance payments of the premium tax credit under the Patient Protection and Affordable Care Act (ACA)

Information for construction businesses now in Spanish

Publication 3780 (SP) , Tax Information for Small Construction Businesses, covers several issues that may cause problems for small construction business owners.

 

New 1023-EZ Form

IRS has introduced a new, shorter application form to help small charities apply for 501(c)(3) tax-exempt status more easily.

IR-2014-77 has more information.

Social Security Administration Will Continue to Provide Benefit Verification Letters; SSN Verification Printouts Will Stop Aug 1

http://www.socialsecurity.gov/news/#!/post/7-2014-1

Originally, beginning October 1, 2014, Social Security field offices were going to stop providing benefit verification letters. However, SSA has decided to continue to provide benefit verification letters in their field offices until further notice. SSA still encourages individuals to get their benefits documentation online by registering for a my Social Security account or through their national toll-free number 1(800)772-1213.

 

But for security and privacy reasons, SSA will move forward with plans to eliminate the issuance of Social Security number printouts in field offices effective August 1, 2014.

Beginning August 1, 2014, Social Security will no longer issue Social Security number (SSN) verification printouts in their field offices. Individuals who need proof of their SSN and cannot locate their card will need to apply for a replacement card, which takes 7-10 business days. To get a replacement card, the individual must complete an Application for a Social Security Card (Form SS-5) with the necessary associated documentation and either mail it to SSA or go in person to an SSA field office.  The replacement card will be mailed to their home.http://www.socialsecurity.gov/pubs/EN-05-10544.pdf

 

 

Tax Tips

http://www.irs.gov/uac/IRS-Tax-Tips

What to do if You Get a Notice from the IRS
Top 10 Reasons to Visit IRS.gov this Summer
Avoid Summertime Tax Scams
 

Health Care Tax Tips

http://www.irs.gov/uac/Newsroom/Health-Care-Tax-Tips2

Check out the tax tips for your health care questions on this page.

IRS.gov has information about the health care law and its effect on your taxes
There is a lot of information in the news and online about the health care law and its effect on your taxes. For the most current answers to questions you may have, visit IRS.gov/aca.  From the individual shared responsibility provision to the definition of minimum essential coverage, the IRS website covers a wide range of health care topics and how they relate to your taxes.