IRS highlights employer tax responsibilities and benefits during Small Business Week

WASHINGTON (TIP): In support of National Small Business Week, the Internal Revenue Service will issue numerous online materials that focus on getting small business owners the information they need to comply with filing and paying requirements.

The IRS also reminds employers of the tax benefits available to them.

Here are some of the covered topics:

Employer Responsibilities

Employee vs. Independent Contractor

Work Opportunity Tax Credit

Employment Tax Compliance

Expanded Tax Benefits

During Small Business Week, the IRS also encourages employers to help get the word out about the advanced payments of the Child Tax Credit. Employers have direct access to their employees, who may receive this credit. More information on the Advanced Child Tax Credit is available on IRS.gov. The website has tools employers can use to help spread the word.

Below are some helpful resources for small businesses and the self-employed:

“A Closer Look” at Celebrating Resilience and Renewal During National Small Business Week.

The Small Business and Self-Employed Tax Center provides a variety of resources, forms and tools in Spanish, Chinese, Korean, Vietnamese, Russian and Haitian Creole. The Center includes a Self-Employed Individuals Tax Center, information on independent contractors vs. employees, filing and paying your business taxes and more.

The Gig Economy Tax Center is a resource for people who earn income providing on-demand work, services or goods.

The Online Learning and Educational Products page has tools to help business owners learn at their own pace such as the Small Business Virtual Tax Workshop.

The IRS YouTube Video Channel has videos for small businesses on the Small Business playlist.

E-News for Small Businesses is a free, electronic mail service that offers tax information for small business owners and self-employed individuals including reminders, tips and special announcements.

 

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