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Tax Breaks Available for Small Businesses for 2009
Source: From Henry Martinez, Stakeholder Liaison, Internal Revenue Service, Austin, TX
TO: All Texas Small Business Development Centers/Programs/Associations:
The Internal Revenue Service Small Business Self-Employed Division is reaching out to industry partners to provide you with the following information related to the American Recovery and Reinvestment Act of 2009:
1. The following hyperlink/link is to a special website with information on the Tax Provisions in the American Recovery and Reinvestment Act of 2009:
IRS Information Related to the American Recovery and Reinvestment Act of 2009:
http://www.irs.gov/newsroom/article/0,,id=204335,00.html?portlet=6
● Hyperlink/link to The Making Work Pay Tax Credit information located at www.irs.gov.
● Hyperlink/link to The Economic Recovery Payment information located at www.irs.gov.
http://www.irs.gov/newsroom/article/0,,id=204468,00.html. This information can also be accessed through the special website.
● Hyperlink/link to Sales Tax Deduction for Vehicle Purchases information located at www.irs.gov.
http://www.irs.gov/newsroom/article/0,,id=204519,00.html This information can also be accessed through the special website.
2. IR-2009-13, Feb 21, 2009 “New Withholding Tables Now Available on IRS.gov; Most Workers Will See Bigger Paychecks this Spring” attached).
3. IR-2009-14, Feb. 25, 2009 “Expanded Tax Break Available for 2009 First-Time Homebuyers”. Access through the prior hyperlink or the following link:
http://www.irs.gov/newsroom/article/0,,id=204672,00.html
4. IR-2009-15, Feb. 26, 2009 “IRS Releases Information to Help Employers Claim COBRA Medical Coverage Credit on Payroll Tax Form”. Access through the prior hyperlink or the following link: http://www.irs.gov/newsroom/article/0,,idIR-2009-15, Feb. 26, 2009 “IRS Releases Information to Help Employers Claim COBRA Medical Coverage Credit on Payroll Tax Form”. Access through the prior hyperlink or the following link:
http://www.irs.gov/newsroom/article/0,,id=204709,00.html=204709,00.html
5. News Releases and Publications:
● Tax Breaks Available for Taxpayers who Purchase Qualified Plug-In Electric Vehicles
http://www.irs.gov/newsroom/article/0,,id=207051,00.html
●Energy Provisions of the American Recovery and Reinvestment Act of 2009
http://www.irs.gov/newsroom/article/0,,id=206871,00.html
● Hyperlink/link to Publication 4705 “Overview: Mortgage Debt Forgiveness” located at www.irs.gov. in the Publications and Notices web page link: http://search.irs.gov/web/query.html?col=allirs&charset=utf-8&qp=&qs=-Wct%3A%22Internal+Revenue+Manual%22&qc=&qm=0&rf=0&oq=&qt=4705&search.x=17&search.y=13.
Publication 4705 is intended to inform homeowners whose mortgage debt was partly or entirely forgiven about a special tax relief provision. These homeowners may be eligible to exclude the amount forgive from their taxable income.
Website: Self-Employed Individuals Tax Center |
