e-News for Small Business Issue 2025-15

The IRS and its Security Summit partners reminds tax professionals about the federal mandate to have a Written Information Security Plan designed to help protect them against threats from identity thieves and data breaches.

IRS Publication 5708, Creating a Written Information Security Plan for your Tax & Accounting Practice is a 28-page template designed to help tax professionals develop a WISP and guide users through starting a plan.

For details and additional resources, see the news release.

Tax relief for New Mexico Disaster victims

Businesses and individuals in parts of New Mexico affected by severe storms, flooding and landslides that began on June 23 may be eligible for tax relief.

These taxpayers now have until Feb. 2, 2026, to file various federal individual and business tax returns and make tax payments.

Business Tax Account Designated Officials must revalidate by July 29

Designated Officials for an S or C corporation who created a Business Tax Account in 2024 must renew their role by the July 29 deadline in order to maintain access. Those who do not revalidate their accounts by July 29 will need to request access to the account again, either as a Designated Official or other user type.

Designated Officials must revalidate by logging in to their BTA account.

Summer help offered for late filers

For those who missed the filing deadline, help is available. If you owe tax or need to file, taxpayers should do so as soon as possible to limit penalties and interest.
Taxpayers can access tools on IRS.gov to file your taxes, check your refund status, make payments or set up a payment plan or create an online account.

Assistance is available through Taxpayer Assistance Centers, phone lines and online resources to guide late filers through the process. Visit Let Us Help You for more information.

Guidance issued to improve Large Business & International examination process

A memorandum was issued to highlight changes aimed at reducing case cycle times for corporate taxpayers, making examinations more customer-driven and consistent.

The Interim Guidance Memorandum, Reinforcing the Customer Focused, High Efficiency Large Business & International Examination Process, fosters a culture of collaboration with taxpayers to resolve issues.

These changes are intended to enhance taxpayer service and tax administration by streamlining examination resources, facilitating timely issue resolution and expediting tax certainty.

Throughout implementation of these changes through 2026, the IRS welcomes and encourages feedback from the public. Feedback can be sent to *LBI Policy Feedback.

Other tax news

The following information may be of interest to individuals and groups in or related to small businesses:

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