Business
Recent Developments in Small Business Taxes

As small business owners navigate the complexities of taxation, recent developments have both eased and challenged their financial landscape. Let’s explore some key updates:
1. IRS Improvements for Small Business Owners
The Internal Revenue Service (IRS) is rolling out enhancements to better serve small business taxpayers. Here are the highlights:
- Expanded Online Service Tools:
- The IRS will launch Business Online Accounts, allowing small businesses to access tax information, track payments, and view business tax transcripts online.
- Features will continue to evolve, with additional capabilities scheduled for rollout in 2024.
- Online Notice Responses:
- Small business owners can now respond to certain notices online, streamlining processes like correcting self-employment income and addressing employment-related identity theft notifications.
- The IRS aims to simplify notice language and provide clear instructions.
- Simplified, Mobile-Friendly Forms:
- New streamlined tax forms (including Forms 940, 941, and 944) will save time for self-filing small business owners.
- These updated forms will be mobile-friendly and available in multiple languages.
- Digitization and Faster Refunds:
- The IRS is automating paper-based processes, including scanning millions of returns in 2023. This will speed up processing and refund delivery.
2. Tax Headaches Amid COVID Recovery
While some small businesses rebounded in 2021, tax challenges persist:
- Backlog and Delays:
- The IRS warns of a backlog, leading to delays in processing.
- Increased profits may result in higher tax obligations for businesses that fared better in 2021.
In summary, small business owners should stay informed about IRS improvements and be prepared for potential tax adjustments. As the economic recovery continues, understanding tax implications remains crucial.
Written by Assistant, based on factual information from reliable sources.
For more detailed information, you can refer to the original sources:
- Upcoming IRS Improvements for Small Business Owners
- US Small-Business Owners Face Tax Headaches on Top of COVID Woes
Remember to consult a tax professional for personalized advice. 📊💼🔍
Business
Financial Influencer Jenny Okpechi Shares How Early Investing Helped Her Build a Six-Figure Portfolio

Financial influencer Jenny Okpechi, known online as @savvymoneygirl, is championing the power of early and consistent investing after building a multiple six-figure portfolio through smart financial planning and diversified income streams.
Speaking to Euronews, Okpechi emphasized that wealth-building is a long-term process rooted in discipline, education, and strategic action—not overnight success. Her financial journey began at just 16, when she started saving and investing small amounts despite limited resources.
“I started very young and very intentionally,” she said. “I learned to budget, live within my means, and gradually moved from saving to investing in treasury bills, corporate bonds, and stocks.”
Raised in a traditional African household where financial decision-making was often seen as a male role, Okpechi had to push against cultural barriers. “I wanted to prove that women could manage and grow money just as well,” she said. That determination led her to pursue multiple sources of income while also studying, including paid surveys, tutoring, and blogging.
Today, Okpechi boasts eight income streams, ranging from her full-time job as a Scrum Master and a part-time healthcare assistant role, to digital product sales, affiliate marketing, brand collaborations, and investments in REITs, index funds, and stocks. She is also building Moneybestie, a fintech app aimed at improving financial literacy among women and girls.
“I pay myself first and invest consistently. I only invest in what I understand—nothing fancy, just steady and simple,” she said. She credits compound interest and the discipline of regular investing as major factors in her portfolio growth.
Okpechi encourages young people to start investing early—even with small amounts. “Don’t wait until you earn more. Start with £25 a month if that’s all you can. Automate it, and let time do the work,” she advised. “Time in the market beats timing the market.”
Despite her success, Okpechi has faced challenges—from overcoming imposter syndrome in the male-dominated finance and tech industries to battling burnout while juggling multiple roles. She also confronted deep-rooted gender biases that undervalue women’s financial potential.
Her message to aspiring investors is clear: “Learn about money like your financial freedom depends on it—because it does. Talk about money, forgive your financial mistakes, and keep moving forward.”
With Generation Z reportedly beginning to invest earlier than previous generations—at an average age of 19—Okpechi’s story offers both inspiration and practical guidance for anyone looking to secure their financial future.
Business
U.S. Economy Contracts for First Time in Three Years Amid Tariff Turmoil
Business
Stellantis Appoints Antonio Filosa as CEO Amid Profit Slump and Strategic Challenges

Stellantis has named Antonio Filosa, its Chief Operating Officer for North America, as the company’s new Chief Executive Officer, following the unexpected resignation of former CEO Carlos Tavares in December. Filosa, 51, will formally assume the role on June 23, pending approval at an upcoming shareholder meeting.
The announcement, made on Monday, comes at a turbulent time for the world’s fourth-largest carmaker, which has been grappling with slowing sales in key markets and internal disagreements over the pace of electrification.
Stellantis, the multinational automotive group behind 14 brands including Peugeot, Fiat, Chrysler, Citroën, and Jeep, issued a profit warning last September due to slumping demand in the United States and Europe. The warning preceded the abrupt exit of Tavares, who reportedly clashed with the board over his aggressive push for a full transition to battery electric vehicles (BEVs) in Europe by 2030. The board had advocated for a more gradual approach.
Filosa’s appointment signals a strategic reset for the group, which is under pressure from weak North American performance, rising global competition, and trade policy uncertainties, particularly from the United States. Former President Donald Trump’s tariff stance on foreign automakers continues to cast a shadow over multinational manufacturers like Stellantis.
In its official statement, the company praised Filosa for his “proven track record of hands-on success during his more than 25 years in the automotive industry,” as well as his “unrivalled knowledge of the company and recognised leadership qualities.” The Naples-born executive has held various leadership roles across Stellantis’ global operations and was promoted to head of North America shortly after Tavares’ departure.
During his tenure in North America, Filosa has worked to reduce bloated inventories and restore dealer confidence following months of sluggish sales. As CEO, he will now oversee a vast portfolio of brands and be tasked with balancing profitability, innovation, and sustainability across diverse markets.
Filosa’s leadership will be closely watched as Stellantis navigates regulatory shifts, intensifying competition in electric vehicles, and a volatile geopolitical landscape. The shareholder meeting to confirm his appointment is expected to be announced in the coming days.
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