Voice of Business Blog

National Small Business Week is an annual effort led by the Small Business Administration to recognize the hard work, ingenuity and dedication of America’s small businesses and to celebrate their contributions to the economy. To support the special week, the IRS has a variety of resources available for small business owners to help them understand and meet their tax responsibilities.

Small Business Tax Center

The IRS's dedicated Tax Center just for small and self-employed businesses has resources and guidance on understanding topics including Starting a Business, Business Structures, Business Taxes and Form 1099-K. Additional resources:

• Pub 5801: Tools & Resources for Small Business
• Pub 5557: A Guide to Starting a Small Business (Spanish) (Chinese zh-s) (Chinese zh-t)
• Pub 5369: Gig Economy and Your Taxes (Spanish)
• Pub 5642: Work Opportunity Tax Credit (Spanish)
• Pub 5724-B: Credit for Commercial Clean Vehicles (Spanish)
• Pub 5858: Educational Assistance Programs Can Be Used to Help Pay Workers’ Student Loans
• Pub 5964: Childcare Credit for Employers

Choosing a Tax Professional

You need to understand who you’re choosing and what important questions to ask when hiring an individual or firm to prepare your tax return. Understanding Tax Return Preparer Credentials and Qualifications can help you learn more about the different types of tax professionals. For more guidance on making this important choice, see Need someone to prepare your tax return? Additional reading:

• Pub 5924: Tips to Help Small Businesses Choose a Tax Preparer

Cybersecurity Tools: Beware of scams and safeguard your data!

Fraudsters use regular mail, telephone and email to scam individuals, businesses, payroll and tax professionals. Businesses should watch out for tax-related scams and implement safeguards. Know your risks and the warning signs to better protect your businesses and employees. Read more:

• Pub 5961: Protect your Business from Tax Scams
• Beware of ERC scams
• Know your risks: Tax scams/Consumer alerts
• Recognize Signs of Business Identity Theft

Year-Round Preparations for Tax Season

Get ahead of the game for next tax season by starting your tax preparations now. The IRS encourages small business owners to understand your unique tax considerations when preparing for tax season. Visit the IRS Newsroom for up-to- date resources and tools to help you stay informed. Additional information:

• Avoid a tax time surprise by making estimated tax payments with electronic options like Direct Pay and the Electronic Federal Tax Payment System.
• Accurate and complete recordkeeping makes it easier to prepare your tax return.
• Pub 5640: Tax Withholding Estimator: Inform your employees of this powerful online tool for estimating income tax withholding (Spanish, Chinese-Simplified)
• Pub 5731: Start e-filing Forms 1099 for free with the Information Returns Intake System (IRIS)

Emergency Relief: Expect the unexpected

The IRS Disaster Assistance and Emergency Relief for Individuals and Businesses page provides the latest tax relief guidance for disaster situations. Being prepared for an event that could cause damage to your business is critical. Here are some resources to help you better prepare:

• Pub 3067: IRS Disaster Assistance – Federally Declared Disaster Area
• Preparing for Disasters IRS YouTube Video

This National Small Business Week, take some time to review the latest tax information. The IRS will share information throughout the week on a special webpage beginning Monday, April 29. You’ll find a wealth of information about  starting and running a business, avoiding tax scams, choosing a tax professional and preparing for disasters.

You can also check out the IRS’s Small Business and Self-Employed Tax Center year-round at IRS.gov/smallbiz. Receive updates directly by following the IRS on social media and subscribing to e-News for Small Businesses.