e-News from the IRS

e-News for Small Business from the IRS:

Issue Number:  2012-4

Inside This Issue

1. Worker classification webinar
2. VOW to Hire Heroes Act
3. Upcoming phone forum from Employee Plans
4. Retirement news for employers
5. Updated audit technique guide
6. Guidance on employee tool and equipment plans
7. Recent IRS announcements  

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  1.  Worker classification webinar

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The Feb. 15 webinar will cover employee and independent contractor issues and the Voluntary Classification Settlement Program.

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  2.  VOW to Hire Heroes Act

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Additional guidance on the expanded Work Opportunity Tax Credit is now available on IRS.gov.

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  3.  Upcoming phone forum from Employee Plans

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IRS is offering a free phone forum, Governmental Plan Proposed Guidance, on  May 15.

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  4.  Retirement news for employers

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The winter 2012 edition of Retirement News for Employersincludes articles on:

• Using the IRA required minimum distribution rules for SEP, SIMPLE IRA and SARSEP plans
• Reporting 2010 Roth rollovers and conversions on 2011 returns
• Contributing to an IRA and claiming the Saver’s Credit for 2011

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  5.  Updated audit technique guide

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The Artists and Art Galleries ATG includes potential audit issues, definitions for artists and art galleries, and charitable donation issues.

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  6.  Guidance on employee tool and equipment plans

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IRS.gov has guidance about “tool plans” marketed in various industries that require employees to provide their own tools.

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  7.  Recent IRS announcements

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• IR-2012-21, IRS Issues Rules for Providing K-1s Electronically
• IR-2012-17, IRS Releases Guidance on How to Claim Expanded Veterans Tax Credit; Certification Requirements Streamlined
• IR-2012-16, IRS Unveils New Version of Smartphone App; IRS2Go 2.0 Offers Videos, Tax Help

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