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SSA/IRS Reporter

Issue Number:  2013-1

Inside This Issue

1. Simplified option for claiming home office deduction
2. 2013 income tax withholding tables
3. 2013 tax calendar for small businesses and self-employed
4. Remind employees about the Earned Income Tax Credit
5. Getting Ready for Filing Season 2013 - Individuals and Businesses
6. New hardwood timber industry ATG
7. TAS 2012 annual report
8. Retirement plans phone forums
9. Recent IRS announcements  

Owners of home-based businesses and home-based workers may use the new option to figure the deduction for business use of the home on 2013 tax returns.

Related links:

• IR-2013-5, IRS Announces Simplified Option for Claiming Home Office Deduction Starting This Year; Eligible Home-Based Businesses May Deduct up to $1,500; Saves Taxpayers 1.6 Million Hours A Year
• Revenue Procedure 2013-13

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Updated withholding tables show new rates in effect for 2013 and supersede tables issued on Dec. 31.

Employers should start using the revised withholding tables and correct the amount of Social Security tax withheld as soon as possible, but not later than Feb. 15.

Related links:

• IR-2013-1, IRS Provides Updated Withholding Guidance for 2013
• Notice 1036, Early Release Copies of the 2013 Percentage Method Tables for Income Tax Withholding

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A new IRS CalendarConnector 2 feature lets users select event categories to customize the desktop calendar tool.

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EITC Information for Employers is a one-stop resource for EITC information, including links to products like payroll stuffers and posters.

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The Jan. 23 IRS Live broadcast will include:

• Tax law updates
• New tax legislation and its implementation by the IRS
• Changes to tax forms

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The Hardwood Timber Industry Audit Technique Guide explains industry-specific examination techniques and includes business practices and terminology to help business owners report items related to the timber industry.

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The National Taxpayer Advocate 2012 Annual Report to Congress focuses on tax reform, IRS funding and identity theft.

IR-2013-3 has more information.

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Free phone forums feature IRS employees discussing retirement plan topics:

• Feb. 13, Ethical Standards for and Accountability of Practitioners Offering Tax Advice Relating to Employee Benefit Plans
• Feb. 28, Overview of the 2012 Cumulative List of Plan Qualification Changes

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• IR-2013-4, Annual Inflation Adjustments for 2013
• IR-2013-2, IRS Plans Jan. 30 Tax Season Opening For 1040 Filers
• Fiscal Year 2012 Enforcement and Service Results

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