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e-News for Small Businesses May 23, 2012

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Issue Number:  2012-11

Inside This Issue


  1. Fresh Start initiative expands to help more struggling taxpayers
  2. New limit for EINs
  3. Veterans: Looking for help with a small business venture?
  4. Tax guidance for child care providers
  5. Virtual small business tax workshop
  6. Help  reduce taxpayer burden
  7. Recent IRS announcements  

  1.  Fresh Start initiative expands to help more struggling taxpayers

More flexible offer-in-compromise terms will help some of the most financially distressed taxpayers clear up tax problems.

IR-2012-53 has more information.

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  2.  New limit for EINs

The IRS will now issue only one employer identification number per responsible party each day.

The limitation applies to all requests online, by phone, fax or mail.

Related links:

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  3.  Veterans: Looking for help with a small business venture?

The Small Business Administration has specialized resources for veterans to help start, grow or re-establish a business.

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  4.  Tax guidance for child care providers

A June 5 webinar will cover tax related issues in the child care provider industry.

Topics include:

  • Recordkeeping
  • Business use of the home
  • Computing and reporting depreciation
  • Food program reimbursements

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  5.  Virtual small business tax workshop

New small business owners can learn about federal tax responsibilities with the Virtual Small Business Tax Workshop.

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  6.  Help  reduce taxpayer burden

Use Form 13285A to submit ideas for reducing taxpayer burden.

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  7.  Recent IRS announcements
  • IR-2012-56, For Small Business Week, IRS Spotlights Expanded Tax Credit for Hiring Veterans, Credit for Providing Health Care Coverage to Employees and Tax Relief
  • IR-2012-55, Interest Rates Remain the Same for the Third Quarter of 2012
  • IR-2012-54, IRS Announces 43 Small Offices to Close, Others to be Consolidated; Agency Sheds More than One Million Square Feet of Office Space

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