[OSSSA218] Fwd: Headliners & Event Updates from IRS

Wed Jun 17 11:26:36 PDT 2009

FYI

Karen Park

Oregon State Social Security Coordinator
Oregon PERS
503 603-7633
karen.park at state.or.us

SL2

Please note my office hours are Monday thru Thursday 6 am to 4:30 pm

>>> "Marshall KayDel D" <KayDel.Marshall at irs.gov> 6/17/2009 11:21 AM >>>

Dear Business Organization:

We are pleased to provide you with the latest IRS News Releases and Headliners to distribute to your small business members.  We hope that the information will be helpful and we encourage publication in your association's magazines, newsletters, email distributions and/or website.  

Below are summaries and links to the most recent headliners and news releases your members might be interested in.  The title and summary are designed to give you a brief overview of the article's content -- the link to the full article is at the end of each summary. I encourage you to use any or all of these in newsletters or emails to your members, or on your web site.  

If someone else in your organization is a more appropriate contact point for these types of emails, please let me know.  And if you do not want to receive future emails like this one, please reply and request your name be removed.

 KayDel,
KayDel Marshall 
Senior Stakeholder Liaison
Small Business & Self-Employed C/L/D
1220 S.W. 3rd Avenue, Mail Stop O-185 
Portland, Oregon 97204 
503-326-5240 Phone 
503-326-5957 Fax 
E-Mail: KayDel.Marshall at irs.gov 
ID #93-10646

Announcements & Upcoming Events:

Small Business Can Apply for ARC Loans Beginning June 15
http://www.sba.gov/recovery/arcloanprogram/index.html
Starting June 15, SBA will begin accepting loans for a temporary new program called America’s Recovery Capital. “ARC” loans of up to $35,000 are designed to provide a “bridge” for viable small businesses with immediate financial hardship – to keep their doors open until they get back on track.  See the full article for information on eligibility, how to apply and more.  For information on SBA’s other Recovery Act programs, visit http://www.sba.gov/recovery/index.html. 

TODAY - East County Small Business Fair June 17, 2009, 9:00 a.m. to 1:00 p.m. at Mt. Hood Community College, 323 N.E. Roberts Avenue, Gresham, Oregon.  Contact Gerri Raisanen, SBDC Program Assistant, at 503-491-7658 for information.

NAVIGATING THE TAX MAZE, Tomorrow is the last one in the 4-PART SERIES FOR NEW BUSINESSES AND EMPLOYERS ON TAXES AND OTHER PAYROLL DEDUCTIONS  The Small Business Law Center, along with Worksource Oregon, the Department of Consumer & Business Services, the Social Security Administration, the Oregon Department of Revenue, and the Internal Revenue Service, will be presenting a four-part series for new businesses and employers on taxes and other payroll deductions in May and June.   WHERE: Portland Development Commission, 222 NW Fifth Ave.   COST: $90 if you sign up for the whole series by May 1. Otherwise, cost is $25 per seminar (in advance); $30 at the door.  TIME: 4pm to 7pm   Series Dates: May 7th, 2009, Choice of Business Entity and Tax/Payroll;  May 21st, 2009, Worker (Mis?) Classification: Independent Contractor or Employee?  June 4th, 2009, SSA/IRS Wage Reporting Tips;  June 18th, 2009, Combined State Payroll Tax Reporting  To register, please go to our website:   www.law.lclark.edu/org/sblc/sblc_form.html. Space is limited.

Oregon Small Business Forum, Tuesday, August 25, 2009, 8:00 a.m. to 12:00 Noon at OAME, 4134 N. Vancouver, Portland, Oregon.  Focus Area Topic:  "Greening Business for Economy and Ecology"  *Don't Forget to Mark Your Calendar Now.

Oregon Small Business Fair, September 19, 2009, Oregon Convention Center, Contact Linda Repp for Exhibitor Information at 503-329-4260 or e-mail her at Linda.E.Repp at state.or.us

Rogue Valley Business Resource Fair,  Saturday, October 3, 2009, 9a.m–2:00 P.M at Rogue Community College, Southern Oregon University Higher Education Center, 312 East 8th Street, Medford, Oregon Contact Ainoura Oussenbec at Ainoura.Oussenbec at state.or.us at or Phone: (541) 776-60 60 ext. 233

IRS Updates & News Releases:

Statement of IRS Commissioner Doug Shulman
http://www.irs.gov/newsroom/article/0,,id=209795,00.html
IRS Commissioner Doug Shulman issued a statement regarding rules pertaining to employer-provided cell phones. Secretary Geithner and the Commissioner have asked that Congress act to make clear that there will be no tax consequence to employers or employees for personal use of work-related devices such as cell phones provided by employers. 

Special Tax Break on New Car Purchases Available in States With No Sales Tax
http://www.irs.gov/newsroom/article/0,,id=209624,00.html
A tax break for the purchase of new motor vehicles is available in states that do not have a state sales tax. Under the American Recovery and Reinvestment Act of 2009, taxpayers who buy a new motor vehicle this year are entitled to deduct state or local sales or excise taxes paid on the purchase.  The IRS and Treasury have determined that purchases made in states without a sales tax — such as Alaska, Delaware, Hawaii, Montana, New Hampshire and Oregon — can also qualify for the deduction.  Taxpayers who purchase a new motor vehicle in states that do not have state sales taxes are entitled to deduct other fees or taxes imposed by the state or local government. The fees or taxes that qualify must be assessed on the purchase of the vehicle and must be based on the vehicle’s sales price or as a per unit fee. According to the IRS, Congress intended for these fees or taxes to qualify for this special tax deduction.

To qualify for this deduction, the vehicle must be purchased after Feb. 16, 2009, and before Jan. 1, 2010. Taxpayers can claim this special deduction only on their 2009 tax returns to be filed next year.  The deduction is limited to the fees or taxes paid on up to $49,500 of the purchase price of a qualified new car, light truck, motor home or motorcycle.

Primary web page for updates to Tax Provisions in the American Recovery and Reinvestment Act of 2009:
http://www.irs.gov/newsroom/article/0,,id=204335,00.html?portlet=6
The Recovery web page is also available in Spanish: Información en Español -- http://www.irs.gov/newsroom/article/0,,id=205057,00.html
To see basic information on the ARRA Business Provisions, go here: http://www.irs.gov/newsroom/article/0,,id=205330,00.html

IRS Clarifies Requirement for Filing FBAR Form Due This Month
http://www.irs.gov/newsroom/article/0,,id=209418,00.html
Internal Revenue Service officials announced today that they would allow taxpayers to rely on the definition of a United States person as set forth in the prior instructions to the FBAR form when determining their filing requirement.  This announcement affects those preparing for the coming June 30, 2009 deadline. The IRS took this action to reduce burden after concerns and questions were raised regarding  the  new instructions issued last year on who must file the revised Form TD F 90-22.1 (Report of Foreign Bank and Financial Accounts, or FBAR). 

SSA/IRS Reporter Summer Issue Available
http://www.irs.gov/businesses/small/article/0,,id=109886,00.html
The summer issue of the SSA/IRS Reporter is now available.

Prepared Remarks of IRS Commissioner Doug Shulman Before the Organization For Economic Co-Operation And Development
Washington, DC, June 2, 2009
http://www.irs.gov/newsroom/article/0,,id=209342,00.html

Recent Articles from e-News for Small Businesses
More small business video and audio presentations
The latest additions on the IRS.gov small business audio/video page include videos on the expanded net operating loss provisions and the COBRA subsidy.  

Expanded tax credit for businesses hiring unemployed veterans and certain youth
Businesses claiming the expanded work opportunity tax credit for hiring eligible unemployed veterans and unskilled young workers during the first part of 2009 have until Aug. 17 to request the state certification for these workers. 
Related links: 
IR-2009-55, IRS Offers Tax Credit Guidance to Businesses Hiring Unemployed Veterans and Certain Youth 
Form 5884, Work Opportunity Credit 
Form 8850, Pre-Screening Notice and Certification Request for the Work Opportunity Credit 

Disaster assistance from IRS
IRS.gov has information to help small businesses be prepared in the event of a natural disaster. 
Related links: 
Disaster Assistance and Emergency Relief for Individuals and Businesses 
Publication 2194B, Disaster Losses Kit for Businesses 

Spring issue of Retirement News
The spring issue of Retirement News for Employers, a periodic newsletter with retirement plan information for employers and business owners, is now on IRS.gov. 

IR-2009-57, IRS Launches Tax Return Preparer Review; Recommendations to Improve Compliance Expected by Year End

Subscribe to e-News for Small Businesses
If you would like to receive e-News for Small Businesses, please visit this link to subscribe: http://www.irs.gov/businesses/small/content/0,,id=154826,00.html

Recommend e-News for Small Businesses
If you already receive e-News for Small Businesses, you can share it with a business acquaintance, colleague or employee. Just forward this link to them to view a sample edition and subscribe.

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