IRS automatically waives estimated tax penalty for eligible 2018 filers

The IRS recently announced it is automatically waiving the estimated tax penalty for eligible taxpayers who already filed their 2018 federal income tax returns but did not claim the waiver. Many business owners, especially self-employed individuals who received income subject to withholding, would qualify for this relief. The waiver applies to any individual taxpayer who paid at least 80% of …

Truckers: File your highway use tax by Sept. 3

Truck drivers who have registered, or are required to register, a heavy highway vehicle with a taxable gross weight of 55,000 pounds or more must file Form 2290, Heavy Highway Vehicle Use Tax, and pay any tax due by the deadline. For most Form 2290 taxpayers, the deadline is Tuesday, Sept. 3, for vehicles used on the road in July. …

Security Summit warns of new IRS impersonation email scam

Last week, the IRS detected this new scam about unsolicited emails from IRS imposters. The email subject line may vary, but recent examples use the phrase “Automatic Income Tax Reminder” or “Electronic Tax Return Reminder.” The emails have links that show an IRS.gov-like website with details pretending to be about the taxpayer’s refund, electronic return or tax account. The emails …

Self employment tax

“U.S. Territories – Self-Employment Tax” webinar

Topic:  U.S. Territories – Self-Employment Tax Aired:  Wednesday, June 19, 2019 View:   IRS Video Portal The Spanish version is also available on the portal. The complete transcript is provided as closed captioning, and the PowerPoint presentation is posted for downloading under the “Slides PDF” link. To view other archived webinars of interest to the small business and self-employed community, visit …