Latin People News LPN: e-News for Small Business Issue 2020-1

Latin People News LPN: e-News for Small Business Issue 2020-1: e-News for Small Business January 13, 2020 Tax Resources for Small Business Small Business and Self-Employed One-Stop Resource Sma...

e-News for Small Business January 13, 2020
Tax Resources for Small Business Small Business and Self-Employed One-Stop Resource Small Business Forms & Instructions Small Business Events Small Business Webinars e-File for Businesses and Self-Employed Businesses with Employees Small Business Products Self-Employed Individuals S Corporations Other Resources IRS.gov Find it Fast! All Forms and Instructions Filing Your Taxes Make a Payment Taxpayer Advocate Service Retirement Plans Tax Information for Charities and Other Non-Profits State Links SSA/IRS Reporter IRS Social Media	e-News for Small Business issue 2020-1 Inside This Issue News your employees can use: 2020 tax season for individual filers starts Jan. 27 IRS helps workers, businesses with new Gig Economy Tax Center New year, new Standard Mileage Rates IRS Free File now open Opportunity Zone guidance Regulations regarding publicly held corporations 1.  News your employees can use: 2020 tax season for individual filers starts Jan. 27 This year’s tax season will begin for individual tax return filers on Jan. 27, 2020, when the IRS will begin processing 2019 tax year returns. Back to top 2.  IRS helps workers, businesses with new Gig Economy Tax Center The gig economy is any activity where people earn income providing on-demand work, services or goods. Often, it’s through a digital platform like an app or website. The IRS has launched a new Gig Economy Tax Center on IRS.gov. There, digital platforms and businesses will find information on classifying workers, reporting payments, and filing taxes for a digital marketplace or business. Workers within the gig economy will find helpful tips and essential forms to accurately manage their taxes. Back to top 3.  New year, new Standard Mileage Rates The IRS today issued the 2020 optional standard mileage rates (PDF) used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2020, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 57.5 cents per mile driven for business use, down one half of a cent from the rate for 2019, 17 cents per mile driven for medical or moving purposes, down three cents from the rate for 2019, and 14 cents per mile driven in service of charitable organizations. Back to top 4.  IRS Free File now open Most taxpayers can get an early start on their federal tax returns as IRS Free File – featuring brand-name online tax providers − opens at IRS.gov/freefile for the 2020 tax filing season. For more information, see the IRS 2020 Free File announcement. Back to top 5.  Opportunity Zone guidance The IRS recently issued final regulations providing details about investment in qualified opportunity zones (QOZ). The final regulations modified and finalized the proposed regulations issued on Oct. 28, 2018 and May 1, 2019. They provide additional guidance for taxpayers eligible to make an election to temporarily defer the inclusion in gross income of certain eligible gain. Back to top 6.  Regulations regarding publicly held corporations The Treasury Department and the IRS issued proposed regulations to reflect changes from the Tax Cuts and Jobs Act (TCJA) on the tax deductibility of officers’ compensation by publicly held corporations. IRS Notice 2018-68 was released on Aug. 21, 2018, providing initial guidance on this deduction limitation.

Latin People News LPN: Census Bureau Releases New Content on 2020Census.g...

Latin People News LPN: Census Bureau Releases New Content on 2020Census.g...: The Census Bureau launched an update to the 2020 website that includes content in 59 languages, language assistance guides, videos and more...

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The Census Bureau launched an update to the 2020 website that includes content in 59 languages, language assistance guides, videos and more.

Census Bureau Releases New Content on 2020Census.gov in 59 Languages JAN. 13, 2020 – The U.S. Census Bureau recently launched an update to 2020census.gov that includes content in 59 languages, including language assistance guides and videos that explain how to complete the 2020 Census questionnaire online, by phone, or by mail when it becomes available in mid-March. People can respond to the census online and by phone in 13 languages. The expansive site includes in-depth information in both English and Spanish. Learn More Here are some highlights: Census information and supporting materials in 59 languages A social hub that contains digital assets that allow partners and other community leaders to share content on their own digital channels New recruitment material has been added to aid efforts to attract more applicants for census taker and other temporary jobs to help conduct the 2020 Census A list of national partners and supporters who have committed to reaching out to their members, employees, volunteers, customers and stakeholders to let them know that completing the 2020 Census is easy, safe and important A sample questionnaire that allows website visitors to see questions the Census Bureau will ask on the 2020 Census A quiz called “Who Counts On Your Census Form?” that explains who should be counted on the questionnaire and will provide information about any special circumstances to consider when responding A toolkit to guide state and local officials and community leaders as they begin to plan for 2020 Census Response Rate Challenges in their respective towns, cities, and states New content for individuals living in Puerto Rico on how to respond to the 2020 Census Help us spread the word about the 2020 Census. Share this on social media or forward it to a friend. Share This About the 2020 Census The goal of the 2020 Census is to count everyone who lives in the United States. It is conducted every 10 years and is required by the U.S. Constitution. Census responses determine congressional representation in the states and inform how billions of dollars in federal funds are distributed to states and local communities every year for critical public services and infrastructure, including health clinics, schools, roads and emergency services. For media inquiries or interviews: Please contact the Public Information Office at pio@census.gov or call 301-763-3030 to request an interview.

Tax Tip 2020-01: Here are reasons for people to file a 2019 tax return

Here are reasons for people to file a 2019 tax return

While many people are required to file a tax return, it’s a good idea for everyone to determine if they should file. Some people with low income are not required to file, but will need to do so if they can get a tax refund.

Here are five tips for taxpayers who are deciding whether to file a tax return:

Find out the general reasons to file
In most cases, income, filing status and age determine if a taxpayer must file a tax return. Other rules may apply if the taxpayer is self-employed or can be claimed as a dependent of someone else. There are other reasons when a taxpayer must file. The Interactive Tax Assistant can help someone determine if they the need to file a return.

Look at tax withheld or paid
Here are a few questions for taxpayers to ask themselves:

• Did the taxpayer’s employer withhold federal income tax from their pay?
• Did the taxpayer make estimated tax payments?
• Did they overpay last year and have it applied to this year’s tax?

If the answer is “yes” to any of these questions, they could be due a refund. They must file a tax return to get their money.

Look into whether they can claim the earned income tax credit
A working taxpayer who earned less than $55,592 last year could receive the EITC as a tax refund. They must qualify and may do so with or without a qualifying child. They can check eligibility by using the 2019 EITC Assistant on IRS.gov. Taxpayers need to file a tax return to claim the EITC.

Child tax credit or credit for other dependents
Taxpayers can claim the child tax credit if they have a qualifying child under the age of 17 and meet other qualifications. Other taxpayers may be eligible for the credit for other dependents. This includes people who have:

• Dependent children who are age 17 or older at the end of 2019
• Parents or other qualifying individuals they support

The Child-Related Tax Benefits tool can help people determine if they qualify for these two credits.

Education credits
There are two higher education credits that reduce the amount of tax someone owes on their tax return. One is the American opportunity tax credit and the other is the lifetime learning credit. The taxpayer, their spouse or their dependent must have been a student enrolled at least half time for one academic period to qualify. The taxpayer may qualify for one of these credits even if they don’t owe any taxes. Form 8863, Education Credits is used to claim the credit when filing the tax return.

More information:
Schedule 8812 (Form 1040), Child Tax Credit
Publication 972, Child Tax Credit
Free Tax Return Preparation for Qualifying Taxpayers
Choosing a tax professional
Free File
Let Us Help You

Share this tip on social media -- #IRSTaxTip: Here are reasons for people to file a 2019 tax return. https://go.usa.gov/xpSgm.

IRS Free File offers free tax prep options for military personnel

IRS Free File offers free tax prep options for military personnel

WASHINGTON – The Internal Revenue Service today reminded active duty military personnel that IRS Free File offers them multiple options for free federal tax preparation.

Free File is for individuals or families whose adjusted gross income was $69,000 or less last year. Free File is a private-public partnership between the IRS and the Free File Inc.

“The IRS takes special steps to help military members and their families with their taxes, and the Free File program is part of that effort,” said IRS Commissioner Chuck Rettig. “Almost 10% of the IRS workforce are veterans. We greatly appreciate the service to the nation of every veteran and their supportive families, and we will do all we can to assist them.”

For active duty military and their spouses, Free File has a special offer. Individuals and their families who meet the income limitation may choose from any of nine companies without regard to additional eligibility requirements.

The nine special offers are from 1040Now, Inc., FileYourTaxes.com, Free tax Returns.com, H&R Block, On-Line Taxes, Inc., Tax ACT, TaxHawk, Inc., TaxSlayer (English and Spanish) and TurboTax. 

Active duty military stationed in combat zones also have more time to file their tax returns. However, those with spouses and families may opt to file as soon as they are able to claim various tax benefits for which they may be eligible. If only one spouse is present to file a joint return, they must have proper authorization to file a joint tax return on behalf of their spouse.

The IRS will begin processing tax returns on Jan. 27. With Free File, you can use any digital device, personal computer, tablet or smart phone. Free File products are mobile enabled so you can do your taxes on your smart phone or tablet and e-File with your hand-held device.

Here’s how Free File works:

1. Go to IRS.gov/FreeFile to see all Free File options.
2. Military personnel who meet the income requirement can select from any of the nine providers that have “Free for Active Military for Adjusted Gross Income of $69,000 or less” in their offer. Nine of the 10 partners are making the offer. One product is in Spanish.
3. Select a provider and follow the links to their web page to begin your tax return.
4. Complete and e-File your tax return only if you have all the income and deduction records you need. The fastest way to get a refund is by filing electronically and selecting direct deposit. If you owe, use direct pay or electronic options.

Generally, each Free File partner sets additional eligibility requirements that civilian taxpayers must meet. Non-military personnel should use the “look up” tool at IRS.gov/FreeFile to find the best match.

Military members can get more information on their special tax benefits at IRS.gov/military.

U.S. DEPARTMENT OF LABOR

News Release

U.S. DEPARTMENT OF LABOR ISSUES FINAL OVERTIME RULE

WASHINGTON, DC – Today the U.S. Department of Labor announced a final rule to make 1.3 million American workers eligible for overtime pay under the Fair Labor Standards Act (FLSA).

"For the first time in over 15 years, America's workers will have an update to overtime regulations that will put overtime pay into the pockets of more than a million working Americans," Acting U.S. Secretary of Labor Patrick Pizzella said. "This rule brings a commonsense approach that offers consistency and certainty for employers as well as clarity and prosperity for American workers."

"Today's rule is a thoughtful product informed by public comment, listening sessions, and long-standing calculations," Wage and Hour Division Administrator Cheryl Stanton remarked. "The Wage and Hour Division now turns to help employers comply and ensure that workers will be receiving their overtime pay."

The final rule updates the earnings thresholds necessary to exempt executive, administrative, or professional employees from the FLSA's minimum wage and overtime pay requirements, and allows employers to count a portion of certain bonuses (and commissions) towards meeting the salary level. The new thresholds account for growth in employee earnings since the currently enforced thresholds were set in 2004. In the final rule, the Department is:

• raising the "standard salary level" from the currently enforced level of $455 to $684 per week (equivalent to $35,568 per year for a full-year worker);
• raising the total annual compensation level for "highly compensated employees (HCE)" from the currently-enforced level of $100,000 to $107,432 per year;
• allowing employers to use nondiscretionary bonuses and incentive payments (including commissions) that are paid at least annually to satisfy up to 10 percent of the standard salary level, in recognition of evolving pay practices; and
• revising the special salary levels for workers in U.S. territories and in the motion picture industry.

The final rule will be effective on January 1, 2020.

The increases to the salary thresholds are long overdue in light of wage and salary growth since 2004. Nearly every person who commented on the Department's 2017 Request for Information, participated at listening sessions in 2018 regarding the regulations, or commented on the Notice of Proposed Rulemaking agreed that the thresholds needed to be updated for this reason.

The Department estimates that 1.2 million additional workers will be entitled to minimum wage and overtime pay as a result of the increase to the standard salary level. The Department also estimates that an additional 101,800 workers will be entitled to overtime pay as a result of the increase to the HCE compensation level.

A 2016 final rule to change the overtime thresholds was enjoined by the U.S. District Court for the Eastern District of Texas on November 22, 2016, and was subsequently invalidated by that court. As of November 6, 2017, the U.S. Court of Appeals for the Fifth Circuit has held the appeal in abeyance pending further rulemaking regarding a revised salary threshold. As the 2016 final rule was invalidated, the Department has consistently enforced the 2004 level throughout the last 15 years.

More information about the final rule is available at https://www.dol.gov/whd/overtime2019/.

The Wage and Hour Division's (WHD) mission is to promote and achieve compliance with labor standards to protect and enhance the welfare of the Nation's workforce. WHD enforces Federal minimum wage, overtime pay, recordkeeping, and child labor requirements of the FLSA. WHD also enforces the Migrant and Seasonal Agricultural Worker Protection Act, the Employee Polygraph Protection Act, the Family and Medical Leave Act, wage garnishment provisions of the Consumer Credit Protection Act, and a number of employment standards and worker protections as provided in several immigration related statutes. Additionally, WHD administers and enforces the prevailing wage requirements of the Davis Bacon Act and the Service Contract Act and other statutes applicable to Federal contracts for construction and for the provision of goods and services.

The mission of the Department of Labor is to foster, promote, and develop the welfare of the wage earners, job seekers, and retirees of the United States; improve working conditions; advance opportunities for profitable employment; and assure work-related benefits and rights.

Agency

 

Wage and Hour Division

Date

 

September 24, 2019

Release Number

 

19-1715-NAT

Contact: Emily Weeks

Phone Number

 

202-693-4676

Email

 

weeks.emily.c@dol.gov

Su declaracion esta proxima

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Latin People News LPN: Nuevo folleto para influyentes de los medios socia...

Latin People News LPN: Nuevo folleto para influyentes de los medios socia...: 5 de noviembre de 2019 por  Lesley Fair Abogada, División de educación del consumidor y negocios, FTC Es muy probable que conoz...

5 de noviembre de 2019

por 

Lesley Fair

Abogada, División de educación del consumidor y negocios, FTC

Es muy probable que conozcas a un influyente, una persona que trabaja con una marca para recomendar o respaldar un producto en las redes sociales. Tal vez trabajes en una empresa que cuenta con personas influyentes o tal vez eres tú, un amigo o un familiar. Entonces, debes leer un nuevo folleto de la FTC: Divulgaciones 101 para influyentes de los medios sociales.

Los influyentes tienen la obligación de cumplir con la ley. Si endosa un producto o servicio a través de las redes sociales, su mensaje debe hacer evidente que usted tiene una relación (una “conexión relevante”) con la marca. Esto podría ser una relación personal, familiar o laboral o una relación financiera, por ejemplo, cuando una marca le paga o le ofrece productos gratuitos o con descuento.

La información sobre Divulgaciones 101 para influyentes de los medios sociales responde las preguntas que pueda tener acerca de cuándo divulgar, cómo divulgar y otras cosas que necesita saber. También explica que si no tiene una relación establecida con una marca y solo le está contando a la gente sobre un producto que compró y le gusta, no es necesario que diga que no tiene una relación con la marca. (El folleto está disponible en español y en inglés).

La FTC tiene otros recursos acerca de influyentes, endosos y revisiones de productos. También vea este nuevo video que explica algunas de las bases legales.

Latin People News LPN: Aloe, adiós: las afirmaciones de la compañía no te...

Latin People News LPN: Aloe, adiós: las afirmaciones de la compañía no te...: 16 de octubre de 2019 por  Bridget Small Especialista en educación del consumidor, FTC Es posible que hayas oído hablar del uso d...