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Issue Number:  2014-4

Inside This Issue

1. New online tool to pay taxes
2. Upcoming free webinars
3. Owe employment taxes?
4. Penalty relief for small retirement plans  

The new IRS Direct Pay lets taxpayers pay tax bills or make estimated tax payments directly from checking or savings accounts without any fees or pre-registration.

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The May 28 webinar, Depreciation Basics, includes:

• What property can and cannot be depreciated
• When depreciation begins and ends
• Methods of depreciating property

The June 4 webinar, Reporting of Foreign Financial Accounts on the Electronic FBAR, includes:

• FBAR filing requirements and exceptions
• Special filing rules
• Recordkeeping

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Small businesses with unpaid employment taxes may qualify for an In-Business Trust Fund Express installment agreement.

Related link:

• Online Payment Agreement 

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The IRS will begin a one-year pilot program in June to help small businesses with retirement plans that owe penalties for not filing reporting documents.

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