Hiring and Growth

September 16, 2022: Are You Getting a Refund From the IRS?

Mohini Kundu Content Marketer, Gusto 
SMB Newsletter Hero Image - Gusto

September 16, 2022

You’re reading Gusto’s newsletter for growing businesses. If you’d like these bi-weekly updates in your inbox, you can subscribe here. New to Gusto? Try a free demo today.

Are you getting a refund from the IRS?

Good news! If you weren’t able to pay your taxes on time during the height of the pandemic, you’re about to get some relief. The IRS recently announced that they’ll be issuing refunds to individuals and businesses that paid penalties for filing their taxes late in 2019 and 2020. 

If you paid your taxes late, you were likely charged a penalty of 5% for each month you were late, up to 25% of your unpaid tax bill. If that was the case, the IRS is sending an automatic refund your way, likely by the end of September. If you got issued a late fee and never paid it, the IRS will remove the charge from your profile. Still have questions? Read more about the penalty relief refunds here.

How to navigate the labor shortage and tap into undiscovered talent

The global labor shortage is the result of a handful of different but interrelated factors, including pandemic-driven economic shifts, the Great Resignation, and ongoing supply chain disruptions. Amidst the current worker shortage, small businesses are struggling to fill in the gaps. As a result, they’re losing profits and overworking employees.

If you’ve been feeling the pain of a pinched workforce, it’s time to get resourceful. Instead of following your usual hiring plan, experts and economists recommend looking for what are called “hidden workers,” the groups of people most hiring teams overlook. In one of our latest articles, we’re breaking down who the hidden workers are, what the benefits are of hiring them, and how to attract them to your business. Read the full article here.

Cash in on these 3 consumer trends for better business growth

Consumer trends have a big impact on your business—for better or worse. One of the best ways to continue growing your operation is to pay attention to consumer trends and take action on the ones that align with your business goals. 

In 2022, there are three consumer trends gaining steam:

  1. Environmental sustainability: According to a 2022 survey from The IBM Institute for Business Value, more than half (51%) of respondents say environmental sustainability is more important to them today than it was 12 months ago. 
  2. Self-care: JungleScout’s Consumer Trends Report Q1 2022 found that 62% of people are more interested in self-care now than before the pandemic began.
  3. Multiple paths to purchasing: Recent research from McKinsey shows that 75% of US consumers say they’re researching and purchasing both online and in-store. 

Prioritizing these trends in your business can help you appeal to more customers and generate more profits. Want practical tips on getting started? Read the full article here

Fresh From Gusto

Watchlist

SEP 21: How to Turn Inflation and Recession into Your Largest Business Opportunity

The state of the economy has a massive effect on your operation, but you can’t control what happens on a macro scale. In this webinar, Oracle NetSuite and Entrepreneur are teaming up to discuss how businesses can thrive in times of financial uncertainty. You’ll get tips on streamlining your business, making micro-adjustments, and building a better business plan. Register here.

SEP 23: It’s Not Just Productivity Anymore: How People Ops Experts Keep Distributed Teams Engaged

There are countless benefits to running remote teams, but there are also plenty of challenges, including keeping employees engaged from afar. Bonusly and Gable are coming together to discuss how you can keep remote employees engaged and happy on the job. Learn how to honor your employees’ need for flexibility while still providing in-person connection, and how to create meaningful change in your workplace. Register here.

SEP 27: Talent Acquisition Strategy Is Your Small Business’ Secret Super Power

In the wake of the Great Resignation, it’s more important than ever to prioritize employee happiness and retention for your business’s longevity and success. Insider’s webinar—featuring speakers from Indeed, Gusto, and Elevated Diversity—will share talent acquisition strategies, tips for navigating the new employee landscape, and ideas for improving your employee retention rates. Register here.

Find the latest relief options in our Small Business Relief Finder.

Want more news and resources? Check out past editions in our archive.

Mohini Kundu
Mohini Kundu Mohini Kundu is a news editor on the Gusto content team. She studied journalism at Northwestern University and started her career at The Huffington Post before embracing the #startuplife.
Back to top