Beginning in November, the Internal Revenue Service (IRS) will start conducting National Research Program audits related to employment taxes. The goal of these examinations is twofold: determining areas of taxpayer deficiencies and identifying areas for future focus.

All lines of employment tax returns are subject to examination; however, the primary focus will be on the following areas:

For additional information visit the IRS website where you can read this article identifying the 10 things every small business owner should know about hiring people as independent contractors or employees.

Effective September 14, the General Services Administration is amending its regulations to formally encourage and provide incentives for GSA prime contractors to assist small businesses. 

The goal of the mentor-protege program is to increase the number of small businesses that are eligible to perform GSA contracts and subcontracts. It also serves to build long-term relationships between prime contractors and small businesses. For more information on this program, click here. 

In a previous edition, we stated the playing field for small business government contractors would be leveled due to an amendment to the Defense Authorization Act for fiscal year 2010; however, the Act has not yet been signed into law as of today. The House and Senate versions of the Act must be reconciled before it is submitted to the President for approval. We will keep an eye on this and update you as new information becomes available.