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Source : Contractor News
August 6, 2025
Author : Patty allen
To mark National Small Business Week 2025, the IRS is showcasing numerous tools and resources to help small businesses manage their tax obligations more efficiently. The featured resources include the Small Business and Self-Employed Tax Center, educational products online, and multilingual help.
The IRS is executing these programs to make sure small businesses, primarily sole proprietors and start-ups, are in a better position to manage idiosyncrasies such as deductions, e-filing, worker classifications and other compliance requirements.
According to ASBN and FingerLakes1, this IRS campaign is coming at an especially difficult time financially and from a regulatory perspective. Moreover, this is part of broader U.S. goals. Reporter Contractor News has revealed that the SBA wants to strengthen domestic manufacturing and workforce training pathways to give small businesses new avenues for growth.
Still, there is uncertainty regarding policy. As documented in a recent Contractor News, under Trump's second term, government contracting is likely to evolve, which adds more uncertainty into interest for small business planning and participation.
The IRS urged small businesses to subscribe to its e-news services, participate in its upcoming virtual tax seminars, and access new information just published for minority-owned and women-owned businesses. These digital tools are part of the IRS's modernization campaign, and serve to close the information gap.
Industry associations say these efforts are timely, especially for businesses looking to secure government contracts or address recent regulatory changes around workforce classification. Keeping in line with IRS updates can prevent small companies from unnecessary audits or under- and/or over-filing. Until then, small companies should take advantage of IRS's recent evolution of resources to stay compliant, minimize penalties, and compete in a changing regulatory landscape.
Category : Taxes and the IRS