Celebrating National Small Business Week
Today, I want to take a quick break from my deep dive into the discussion draft of the Taxpayer Assistance and Service Act to spotlight an important observance: National Small Business Week (NSBW), celebrated this year from May 4 – 10.
NSBW was created by the Small Business Association (SBA) to honor the hard work and contributions of small businesses and entrepreneurs. This year’s celebration includes a virtual summit hosted by the SBA, along with a variety of events aimed at equipping small business owners with tools for success. You can learn more about the two day submit staring May 6 and register for events by visiting the SBA’s website.
Small businesses are the backbone to the American economy. Small business owners fuel innovation, provide jobs, and have a critical impact in making their communities amazing places to live and work. At TAS, when we say we work to resolve tax issues and improve tax administration for taxpayers, small businesses are among those taxpayers we go to bat for, and we are proud to serve as their voice when advocating with the IRS.
Throughout my career, first as a tax attorney, and now as the National Taxpayer Advocate, I’ve worked to ensure small businesses have access to the resources and guidance they need to naviagate the tax system. More recently, I highlighted the need for the IRS to increase education around tax benefits and credits for small businesses in my 2024 Annual Report to Congress. The Taxpayer Bill of Rights affirms every taxpayer’s right to pay no more than the correct amount of tax, but that can only happen if business owners are aware of the deductions and credits they’re eligible for. Not knowing the tax benefits for which a small business qualifies can lead to overpayment and can put the small business at a competitive disadvantage.
Here at TAS, we offer a dedicated Small Business section on our website. We continually work to provide business owners with the tax information they need, whether it’s related to getting an employer identification number, applying for disaster relief, or just breaking down their overall tax responsibilities. We’ve also recently updated Tax Tip on the importance of recordkeeping and filing requirements, and I encourage you to take a look at the 2025 Tax Calendar for important dates and filing deadlines throughout the year.
Whether you’re a new entrepreneur or a seasoned business owner, I hope that you will find these resources helpful, and if you need additional help, remember that TAS is here for you, not just during NSBW, but throughout the year.
Finally, I encourage everyone to go out and support small businesses in their communities. Whether you’re shopping local, dining out, or sharing a kind word, every gesture helps these business thrive not only during National Small Business Week, but every day.
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