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Some Important News and Updates

Taxpayers should file by July 15 tax deadline; automatic extension to Oct. 15 available

IRS has easy ways to help taxpayers who need more time or payment options

IR-2020-134, June 29, 2020

WASHINGTON ― The Department of the Treasury and IRS today announced the tax filing and payment deadline of July 15 will not be postponed. Individual taxpayers unable to meet the July 15 due date can request an automatic extension of time to file until Oct. 15.

Due to COVID-19, the original filing deadline and tax payment due date for 2019 was postponed from April 15 to July 15.

The IRS reminds taxpayers filing Form 1040 series returns that they must file Form 4868 by July 15 to obtain the automatic extension to Oct. 15. The extension provides additional time to file the tax return – it is not an extension to pay any taxes due.

The IRS urges people who owe taxes, even if they have a filing extension, to carefully review their situation and pay what they can by July 15 to avoid penalties and interest. For people facing hardships, including those affected by COVID-19, who cannot pay in full, the IRS has several options available to help. To avoid interest and penalties, the IRS encourages them to pay what they can and consider a variety of payment options available for the remaining balance. Read more (https://www.irs.gov/newsroom/taxpayers-should-file-by-july-15-tax-deadline-automatic-extension-to-oct-15-available)

How to Start a Business: A Step-by-Step Guide
by By Joshua Stowers, Staff
  • You want to make sure you prepare thoroughly before starting a business, but realize that things will almost certainly go awry. To run a successful business, you must adapt to changing situations.

  • Conducting in-depth market research on your field and the demographics of your potential clientele is an important part of crafting a business plan. This involves running surveys, holding focus groups, and researching SEO and public data.

  • Before you start selling your product or service, you need to build up your brand and get a following of people who are ready to jump when you open your doors for business.

 

Read more (https://www.businessnewsdaily.com/4686-how-to-start-a-business.html)

Here's Why Small Business Matters

A vibrant small and medium-sized enterprise sector is a vital ingredient for a healthy market economy. Small and medium-sized enterprises (SMEs) make up over 99% of the total number of businesses across the countries where we work. They are responsible for large contributions to value added and employment. Read more (https://www.ebrd.com/what-we-do/sectors-and-topics/why-small-businesses-matter.html)