Information for Businesses on the Economic Stimulus Package
Find information on the business provisions of the economic stimulus payments.
Taxpayers with 25 or More Heavy Vehicles Now Must File Excise Tax Forms Electronically
Individuals and organizations with 25 or more trucks, tractors or other heavy vehicles used on highways now are required to make their excise tax filings with the Internal Revenue Service electronically, rather than by paper.
IRS Announces 2009 Standard Mileage Rates
The Internal Revenue Service issued the 2009 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
IRS Increases Mileage Rates through Dec. 31, 2008
The Internal Revenue Service announced an increase in the optional standard mileage rates for the final six months of 2008. To listen to a discussion on the mileage rates, please visit the Audio Interviews page.
Worker Classification Webcast
A critical issue for all businesses is properly classifying workers as employees or independent contractors. The IRS’ archived Tax Talk Today Webcast, “What’s Hot in Employment Taxes: Independent Contractor or Employee?” focuses exclusively on worker classification issues.
IRS Launches Campaign to Help New Small Businesses (PDF)
IR-2008-63, April 22, 2008 - The Internal Revenue Service today launched a campaign to help educate new self-employed small business owners about federal tax responsibilities.
Announcement 2007-63 (PDF) states that beginning with the 2005 Form 5500-EZ and the 2006 Form 5500, the filing of a complete Form 5500 series return will be treated by the IRS as the filing of a Schedule P. It appears in IRB 2007-30 (PDF) dated July 23, 2007.
Revenue Procedure 2007-48 (PDF) provides a safe harbor method of accounting to treat rotable spare parts as depreciable assets in accordance with Rev. Rul. 2003-27, 2003-1 C.B. 717. It also provides procedures for taxpayers to obtain automatic consent to change to the safe harbor method of accounting. It appears in IRB 2007-29 (PDF) dated July 16, 2007.
IRS Advises Employers, Payers, Agents to Use New Appointment Form 2678
IR-2007-121, June 20, 2007 — The redesigned Form 2678 is clearer and more user-friendly; all prior versions are now obsolete.
IRS Clarifies Form 2290 Issue
The IRS has received several inquiries about Form 2290 (PDF), Heavy Highway Vehicle Use Tax, in the case of vehicles used and subsequently sold in the same tax period of July 1 through June 30. The person acquiring the vehicle during the tax period is required to report and pay the tax due for the remaining months of the tax period and is not required to provide the previous owner's Schedule 1 to the IRS. The current owner's receipted Schedule 1 is used as proof of payment when registering a vehicle with the state. See Form 2290 (PDF) and the instructions (PDF).
IRS Warns Taxpayers of New E-mail Scams
IR-2007-109, May 31, 2007 — The Internal Revenue Service today alerted taxpayers to the latest versions of an e-mail scam intended to fool people into believing they are under investigation by the agency’s Criminal Investigation division.
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