No need for a crystal ball to discern what small businesses may see ahead from the IRS. It’s in the Service’s most recent Strategic Operating Plan. *Some of the upgrades the IRS has on the list include:
- The recently launched Online Portal for Businesses to e-file 1099 series information returns (https://www. irs.govfiling/e-file-forms-1099-with-iris) and respond to certain notices online, including LTR0143C “Signature Missing.”
- Having the Small Business Online up and running by next tax season. So, your business will be able to see its tax information, track refunds, and schedule and track payments.
- Simplified and mobile-friendly Forms 940, 941, and 944 available in multiple languages.
- The ability for you to respond to the correction of self-employment income, employment-related-ID- theft notifications, and other online notices. Notice language will be simplified.
- Further digitalization of paper forms to include the most popular forms—the 1040 and 941.
Don’t hesitate to touch base with us if you have questions about the upgrades and using them or the IRS’s Strategic Operation Plan.
*IRS Strategic Operating Plan, https://www.irs.gov/pub/irs-pdf/