e-News for Small Business

Special ERC withdrawal program remains open; disaster relief; Dirty Dozen

Bookmark and Share

IRS.gov Banner
e-News for Small Business April 15, 2024

Tax Resources for Small Business

Small Business Self-Employment Center

Small Business Forms & Instructions

Small Business Tax Workshops, Meetings and Seminars

Webinars for Small Businesses

E-file Employment Tax Forms

Businesses with Employees

Self-Employed Individuals Tax Center

S Corporations


Other Resources

IRS Home Page

A-Z Index for Business

Forms, Instructions & Publications

Filing Your Taxes

Pay Online

Taxpayer Advocate Service

Retirement Plans for Small Entities and Self-Employed

Tax Information for Charities
and Other Non-Profits

State Government Websites

SSA/RS Reporter

IRS Social Media

 

 

Issue Number:  2024-07

Inside This Issue

  1. ERC claim withdrawal program still open; recheck claims
  2. IRS reminds U.S. taxpayers living, working abroad to file tax return
  3. Disaster relief updates
  4. Guidance on clean energy efficient property and improvements
  5. Solar and wind powered energy facilities
  6. Annual Dirty Dozen series: Increase awareness of common scams
  7. Other tax news

1.  ERC claim withdrawal program still open; recheck claims


The ERC Voluntary Disclosure Program expired, but the IRS encourages businesses to recheck claims and pursue the claim withdrawal process if they need to ask the IRS not to process an ERC claim for any tax period that hasn’t been paid yet. 

Back to top


2.  IRS reminds U.S. taxpayers living, working abroad to file tax return


The IRS reminds taxpayers living and working outside the U.S. to file their 2023 federal income tax return by Monday, June 17, 2024.

Taxpayers who live or have a business in Israel, Gaza or the West Bank, and certain other taxpayers affected by the terrorist attacks in the State of Israel, have until Oct. 7, 2024, to both file and pay most taxes due. See Notice 2023-71 for more information.

Back to top


3.  Disaster relief updates


Visit Tax Relief in Disaster Situations on IRS.gov for all disaster-related tax information. Recent announcements include:

Back to top


4.  Guidance on clean energy efficient property and improvements


The Department of Treasury and the IRS issued Announcement 2024-19 that addresses the federal income tax treatment of amounts paid for the purchase of energy efficient property and improvements.

Find additional information about energy-related tax benefits under the Inflation Reduction Act such as energy efficient homes, on IRS.gov/cleanenergy.

Back to top


5.  Solar and wind powered energy facilities


The Department of the Treasury and the IRS issued Revenue Procedure 2024-19 to provide guidance for owners of certain solar or wind facilities built in connection with low-income communities.

The Treasury Department and IRS also released Notice 2023-17 on Feb. 13, 2023, to establish the Low-Income Communities Bonus Credit Program.

Back to top


6.  Annual Dirty Dozen series: Increase awareness of common scams


The annual Dirty Dozen series provides individuals and businesses with information on a variety of common scams they may encounter during the peak of filing season and beyond.

Check out current topics:

Back to top


7.  Other tax news


The following information may be of interest to individuals and groups in or related to small businesses:

Back to top


 

FaceBook Logo  YouTube Logo  Instagram Logo  Twitter Logo  LinkedIn Logo


Thank you for subscribing to this IRS email service.

This message was distributed automatically from the mailing list e-News For Small Business. Please Do Not Reply To This Message.

 


This email was sent to 65irs29@cpaemailnewsletter.com by: Internal Revenue Service (IRS) · Internal Revenue Service · 1111 Constitution Ave. N.W. · Washington, D.C. 20535 GovDelivery logo

Leave a Reply