IR-2026-61: IRS recognizes importance of small businesses, provides helpful resources

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IRS Newswire

May 5, 2026

Issue Number:   IR-2026-61

Inside This Issue


IRS recognizes importance of small businesses, provides helpful resources

IR-2026-61 May 5, 2026

WASHINGTON — The Internal Revenue Service today announced a series of resources and events to support small businesses during National Small Business Week, which runs through May 9.

For over 60 years, the U.S. Small Business Administration has recognized National Small Business Week to honor the critical role small businesses play in the nation’s economy. The IRS joins the effort by highlighting tools, guidance, and educational resources to help small business owners meet their tax obligations and plan for success.

“Small businesses are a vital part of the American economy and a key driver for its success,” said IRS Chief Executive Officer Frank J. Bisignano. “During National Small Business Week, we are highlighting the practical resources to help business owners stay compliant, protect their operations, and make informed financial decisions.”

Daily key topics for small businesses  

During National Small Business Week, the IRS will highlight important tax topics to help small business entrepreneurs:

  • Avoid the scam. Small businesses should be on the lookout for scams, take proactive steps to safeguard their business, data, and employees, and report suspicious activity.
  • Best practices for small businesses and tax professionals supporting small businesses. Business owners should choose the appropriate business entity, obtain an Employer Identification Number, maintain accurate records, hire qualified professionals, and stay current with tax obligations.
  • Smart planning for small business success. Work with tax professionals throughout the year, understand available credits and deductions, and make timely estimated tax payments. People doing business in the gig economy and entrepreneurs should plan as well.
  • Transformation and improvements: Exploring tools and technology. Use IRS digital tools, including the Business Tax Account, electronic filing options, and secure messaging, to manage tax responsibilities more efficiently.
  • Prepare: Put a plan in place. Maintain records, safeguard assets, and review resources available to help businesses prepare for and recover from disasters.
Resources available year-round

In addition to IRS.gov, the IRS routinely publishes helpful information on YouTube, Facebook, X, LinkedIn, and Instagram.


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IR-2026-61: IRS recognizes importance of small businesses, provides helpful resources

A. Francis & Associates, Inc E-Newsletter

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05/04/2026

Dear Francis Newsletter

Tax Considerations for Data Center Projects in the Age of AI

Tax and Financial News

May, 2026

Tax Considerations for Data Center Projects

Artificial intelligence is driving an unprecedented surge in data center construction. Developers, private equity sponsors and their tax advisors are navigating a complicated web of questions that touch everything from ownership structure to site selection to power sourcing. Get the early decisions wrong and the tax consequences can follow a project for years.

Why REITs Have Become the Structure of Choice

Private equity has increasingly turned to real estate investment trusts when backing data center projects. Structure a REIT correctly, and you sidestep corporate-level taxation entirely. Foreign investors get an even better deal. Sovereign wealth funds and foreign pension funds can participate without any obligation to file U.S. tax returns. Data centers, with their heavy real estate footprint, slot into the REIT framework more naturally than many other asset classes.

Read The Details


Understanding the EV/2P Ratio

General Business News

May, 2026

What are the EV/2P Ratio

When it comes to raw materials, especially for fossil fuels, it’s essential to evaluate existing and potential production capabilities for such companies. Using the EV/2P Ratio is a powerful tool when evaluating fossil fuel-related companies.

Defining the Ratio

This ratio is calculated by dividing a business’ enterprise value into the company’s reserves. It provides financial analysts, investors and internal business stakeholders with a snapshot of a company’s reserves and the business’ likelihood of preserving operation growth. This standardizes valuations, thereby allowing analysts to compare company-to-company financials.

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6 Tips for Your Mid-Year Check In

Tip of the Month

May, 2026

6 Tips for Your Mid-Year Check In

It might be hard to believe, but yes, it’s almost the middle of the year and the perfect time to take a look at how you’re doing financially: are you fiscally fit or do you need a few adjustments? Whether it’s saving more, paying down debt, or prepping for retirement, you still have time to effect change. Here are a few ways to get started.

Review Your 2026 Financial Goals

Kind of a no-brainer, but ask yourself:

  • Have I saved as much as I planned?
  • How’s my progress at paying off debt?
  • Have my priorities changed since the new year?

In addition to these things, other important goals might include building your emergency fund (broken dishwasher, for instance); saving for a vacation; and finally, the certainty no one can escape – tax preparation.

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WHAT WE DO?

At A Francis + Associates, we assist our tax clients through efficient compliance and effective planning to help them realize substantial savings. We use a team approach and focus on timely communication to provide our clients with excellent service. Tax partner and specialist involvement ensure that our clients receive the most experienced technical expertise we have to offer.

 

IRS Tax Tip 2026-37: National Small Business Week: Avoid the scam

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IRS Tax Tips

May 4, 2026

Issue Number: Tax Tip 2026-37

National Small Business Week 2026: Avoid the scam

It’s National Small Business Week, and the IRS is sharing resources and highlighting key topics each day throughout the week. One of those topics is scams. Back in March, the annual Dirty Dozen list of common tax scams was announced. These scams and schemes target taxpayers, businesses of all sizes and tax professionals. Let’s look at a couple that could affect businesses and entrepreneurs as well as tax professionals supporting small businesses.

Spear-phishing and malware campaigns targeting businesses and tax professionals
Tax pros and businesses can be targets of “new client” or “document request” emails that deliver malicious links or attachments to steal client data or access systems.

  • Businesses, tax pros, and individuals should always be cautious of any suspicious requests or unusual behavior before sharing any sensitive information or responding to an email.
  • Warning signs may include unexpected requests for sensitive information, mismatched or unfamiliar sender addresses, urgent payment demands, or links directing users to websites that do not clearly originate from IRS.gov.
  • Be aware that by gaining access to a hacked email account, scammers can locate a genuine email from a previous victim’s email account sent to their tax professional.

Bogus “Self-Employment Tax Credit”

Additional tips to avoid the scam

  • Businesses can take proactive steps to safeguard their business and employees by using anti-malware/anti-virus software with automatic updates and requiring strong passwords with multi-factor authentication. Only enter personal data on secure websites (https) to prevent unauthorized access. See Publication 5961, Protect your business from tax scams PDF, for more information.
  • Protect the Employer Identification Number. Keep it secure and up to date. Use Form 8822-B, Change of Address or Responsible Party — Business, to make any necessary EIN updates promptly, ensuring its integrity and minimizing the risk of identity theft or fraudulent activity.

Reporting fraud or scams

  • Report suspected tax fraud, scams, identity theft, or other tax-related wrongdoing at IRS.gov/submitatip.
  • Tell us about data losses related to W-2 scams by emailing dataloss@irs.gov and providing contact information. In the subject line, type “W2 Data Loss” so that the email makes it to the right people. Don’t attach any employee personally identifiable information.
  • Contact the Federation of Tax Administrators to receive information on how to report victim information to states using the State Data Breach Contacts

More information

Subscribe to IRS Tax Tips

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IRS Tax Tip 2026-37: National Small Business Week: Avoid the scam

IR-2026-60: IRS seeking applications for Tax Counseling for the Elderly and Volunteer Income Tax Assistance program grants

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IRS Newswire

May 1, 2026

Issue Number:  IR-2026-60

Inside This Issue


IRS seeking applications for Tax Counseling for the Elderly and Volunteer Income Tax Assistance program grants

IR-2026-60 May 1, 2026

WASHINGTON — The Internal Revenue Service is now accepting applications for the Tax Counseling for the Elderly (TCE) and Volunteer Income Tax Assistance (VITA) grants.

These grants allow eligible organizations to receive annual funding for up to three years to provide free federal tax return preparation assistance. In 2026, the IRS awarded TCE grantees $12 million and the VITA grantees $41 million.

Tax Counseling for the Elderly and Volunteer Income Tax Assistance programs provide invaluable, free assistance to taxpayers in need,” said IRS Chief Executive Officer Frank J. Bisignano. “The VITA program, which has been around for more than 50 years, provides help to America’s underserved populations, while the TCE program offers specialized assistance for older Americans related to pensions and retirement plans.”

Applications will be accepted on Grants.gov from May 1, 2026, through May 31, 2026, for both programs. Organizations can visit IRS VITA and TCE grants for grant application and program information.

The IRS established the TCE program in 1978 to provide tax counseling and return preparation primarily for individuals aged 60 and older. The IRS also provides training and technical assistance to support these services nationwide.

The VITA grant program, established in 2007, supplements the original VITA initiative, launched in 1969. The grant program helps expand services to underserved populations in the hard-to-reach urban and non-urban areas, increase the ability of taxpayers to file returns electronically, enhance volunteer training, and improve the accuracy rate of returns prepared at VITA sites.

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Additional topics will be added throughout the year, expanding the information you can receive by text.

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IR-2026-60: IRS seeking applications for Tax Counseling for the Elderly and Volunteer Income Tax Assistance program grants

Special edition: e-News for Small Business – Announcing 2026 National Small Business Week

Register for free IRS webinar – Latest on Small Business information and tips

 

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e-News for Small Business

May 1, 2026

Issue Number:  2026-09

    Announcing National Small Business Week

The IRS joins the U.S. Small Business Administration in celebrating National Small Business Week May 3-9, 2026. This week honors the critical role America’s 36 million small businesses play in the nation’s economy.

Join the Small Business Administration Virtual Summit
As part of National Small Business Week, the IRS is participating in the U.S. Small Business Administration’s free virtual summit Tuesday, May 5 and Wednesday, May 6. The summit will include workshops on AI, e-commerce, financing, and other important business topics.

Join a free webinar on understanding federal taxes
The IRS is hosting free webinar on May 7, 2 p.m. ET, Understanding Federal Taxes for Small Business.

This webinar will cover:

This session will also include live question and answer session.
Click here to register.

Check out National Small Business Week on IRS.gov
The IRS has a special National Small Business Week page on IRS.gov highlighting tools, guidance and educational resources to help small business owners meet their tax obligations and plan for success.

Bookmark this page and come back to check it throughout the week for more information on small business topics including:

  • Scams and schemes awareness and prevention
  • Best practices for new and existing businesses
  • Smart planning for small business success
  • Transformation and improvements by using tools and technology
  • The importance of disaster preparedness

Follow the IRS on social media
Protect yourself from misinformation and scams by following the IRS verified social media accounts. Be sure to follow @IRSsmallbiz on X for the latest IRS news and guidance for small business owners.

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Stay informed wherever you are with convenient text message updates. Some IRS topics like IRS Newswire and QuickAlerts are available for text subscription, giving you faster access to important information through a new, easy-to-use communication channel.

Additional topics will be added throughout the year, expanding the information you can receive by text.

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To subscribe to or unsubscribe from another list, please go to the e-News Subscriptions page on the IRS website.


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

Special edition: e-News for Small Business – Announcing 2026 National Small Business Week