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IRS Announcements
This page contains announcements from the IRS that are important to tax practitioners. The most recent announcements are listed first.
October 14, 2009 - New Publication - Tax Impact of Job Loss
The Service has released Publication 4128 (rev. Aug. 2009), Tax Impact of Job Loss. The publication explains the job loss tax issues connected to severance pay, unemployment compensation, pension plans, IRAs, expenses for a job search, and possible moving costs. It also discusses self-employment issues for the newly unemployed. The IRS provides the following information to assist those newly unemployed:
- Severance pay and unemployment compensation are taxable. Payment for any accumulated vacation or sick time is also taxable.
- Generally, withdrawals from a pension plan are taxable unless they are transferred to a qualified plan (such as an IRA).
- Certain expenses incurred while looking for a new job may be deductible. Examples of deductible expenses include employment and outplacement agency fees, resume preparation, and travel expenses for job search and interviews.
- Moving costs you incur because of a change in your job location may be deductible. You must meet certain criteria relating to distance moved and timing of the move.
Some unemployed taxpayers may decide to start their own businesses. IRS suggests Publication 334, Tax Guide for Small Businesses, for more information.
October 8, 2009 - Notice CP 207/207L Problem Corrected for Third Quarter Processing
From NPL Communications:
Employers filing the paper Form 941, Employer's Quarterly Federal Tax Return, may have received erroneous CP207/207L notices.
The IRS discovered that during the scanning process, not all the information was collected on the Schedule B, Report of Tax Liability for Semiweekly Schedule Depositors, attached to the 941 Form that caused a significant number of the CP207/207L notices to be mailed in error.
The problem has been corrected and should not be an issue for third quarter filings. We ask that employers who received a CP207/207L notice in error please resubmit the appropriate Schedule B along with the notice to the IRS as soon as possible to avoid additional erroneous notices.
August 26, 2009 - IRS Tax Practitioners Symposium
2009 IRS Tax Practitioners Symposium, October 22 in Rosemont, Illinois.
August 4, 2009 - IRS Alerts Public to New Identity Theft Scams
From: Internal Revenue Service (IRS)
[mailto:irs@service.govdelivery.com]
Sent: Tuesday, August 04, 2009 11:10 AM
To: Ruiz Yolanda
Subject: IR-2009-071: IRS Alerts Public to New Identity Theft Scams
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Issue
Number: IR-2009-071
Inside This Issue
IRS Alerts Public to New Identity
Theft Scams
Video: Watch Out for Tax Scams:
English
| Spanish
| ASL
WASHINGTON
— The Internal Revenue Service reminds consumers to avoid identity
theft scams that use the IRS name, logo or Web site in an attempt to convince
taxpayers that the scam is a genuine communication from the IRS. Scammers may
use other federal agency names, such as the U.S. Department of the Treasury. In an
identity theft scam, a fraudster, often posing as a trusted government,
financial or business institution or official, tries to trick a victim into
revealing personal and financial information, such as credit card numbers and
passwords, bank account numbers and passwords, Social Security numbers and
more. Generally, identity thieves use someone’s personal data to steal
his or her financial accounts, run up charges on the victim’s existing
credit cards, apply for new loans, credit cards, services or benefits in the
victim’s name and even file fraudulent tax returns. The scams
may take place through e-mail, fax or phone. When they take place via e-mail,
they are called “phishing” scams. The IRS
does not discuss tax account matters with taxpayers by e-mail. The IRS
urges consumers to avoid falling for the following recent schemes: Making
Work Pay Refund
This
phishing e-mail, which claims to come from the IRS, references the president
and the Making
Work Pay provision of the 2009 economic
recovery law. It says that there is a refundable credit available to
workers, consumers and retirees that can be paid into the recipient’s
bank account if the recipient registers their account information with the
IRS. The e-mail contains links to register the account and to claim the tax
refund. In reality,
most taxpayers receive their Making Work Pay tax credit, which was designed
for wage earners, in their paychecks as a result of decreased tax
withholding, not as a lump sum distribution from a federal fund.
Additionally, consumers and retirees who are not wage earners are not
eligible for this tax credit. Inherited
Funds / Lottery Winnings / Cash Consignment In this
phishing scheme, recipients receive an e-mail claiming to come from the U.S.
Department of the Treasury notifying them that they will receive millions of
dollars in recovered funds or lottery winnings or cash consignment if they
provide certain personal information, including phone numbers, via return
e-mail. The e-mail may be just the first step in a multi-step scheme, in
which the victim is later contacted by telephone or further e-mail and
instructed to deposit taxes on the funds or winnings before they can receive
any of it. Alternatively, they may be sent a phony check of the funds or
winnings and told to deposit it but pay 10 percent in taxes or fees. Thinking
that the check must have cleared the bank and is genuine, some people comply.
However, the scammers, not the Treasury Department, will get the taxes or
fees. Form
W-8BEN
In this
scam, fraudsters modify a genuine IRS form, the W-8BEN, Certificate of
Foreign Status of Beneficial Owner for United States Tax Withholding, to
request detailed personal and financial information. This could include
nationality, passport number, bank account and PIN numbers, spouse’s
name and mother’s maiden name, or other personal or financial
information or security measures for financial accounts. The scammers may use
the genuine form number and name or may make up a new form number, such as
W-4100B2. They either
e-mail or fax the form or letter. If only a letter, the letter itself
contains the request for the personal and financial information. The letter,
which claims to come from the IRS, states that the recipient will face
additional taxes unless he or she quickly faxes the required information to
the number provided by the scammer. In reality,
taxpayers file the genuine Form W-8BEN with their financial institutions, not
with the IRS. Additionally, the genuine W-8BEN does not request the
taxpayer’s passport number, bank account number, security or similar
information. Refund
Scam
The bogus
e-mail, which claims to come from the IRS, tells the recipient that he or she
is eligible to receive a tax refund for a given amount. It instructs the
recipient to click on a link contained in the e-mail to access and complete a
form for the tax refund. The form requires the entry of personal and
financial information. The refund scam is the most common one seen by the
IRS. Several recent variations on this scam have claimed to come from the
Exempt Organizations area of the IRS. Some others have included the name and
purported signature of a genuine or a made-up IRS executive. Taxpayers
do not have to complete a special form to obtain a refund. Taxpayer refunds
are based on the tax return they submit to the IRS. How
to Spot a Scam
Many e-mail
scams are fairly sophisticated and hard to detect. However, there are signs
to watch for, such as an e-mail that:
What
to Do
The IRS
does not initiate taxpayer contact via unsolicited e-mail or ask for personal
identifying or financial information via e-mail. If you receive a suspicious
e-mail claiming to come from the IRS, take the following steps:
Genuine
IRS Web site
The only
genuine IRS Web site is IRS.gov. All IRS.gov Web page addresses begin with http://www.irs.gov/. Anyone wishing to access
the IRS Web site should initiate contact by typing the IRS.gov address into
their Internet address window, rather than clicking on a link in an e-mail. Related
Items:
Thank you
for subscribing to the IRS Newswire, an IRS e-mail service. If you
know someone who might want to subscribe to this mailing list, please forward
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June 24, 2009 - Focus Groups at 2009 Nationwide Tax Forums
- Letter from IRS explaining focus groups at 2009 Nationwide Tax Forums
- Results of Focus Groups at 2008 Nationwide Tax Forums
June 23, 2009 - July News Items for Tax Practitioners
- IR-2009-059 Beat the deadline and save $129. Register early for the upcoming IRS Nationwide Tax Forums. Learn about the latest changes in federal taxes, earn CPE credits and pick up tips for your business while networking with professionals from across the country.
- http:/www.taxtalktoday.tv The IRS has added two NEW Tax Talk Today programs. Mark Your Calendars for Tuesday, July 14, 2009 and Tuesday, October 6, 2009
- http://www.irs.gov TIP OF THE MONTH: Tax Professionals can find the newest Draft Tax forms by navigating to irs.gov, then clicking on the " Tax Professionals" Tab, the "More Topics" link, and scrolling down to the Draft Tax Forms Picklist. New Schedules to watch for include Schedules L (Standard Deduction) and M (Making Work Pay and Government Retiree Credits). Schedule A and B will be separate schedules.
- At Social Security Administration, a New service lets employers verify Social Security numbers 24/7. Click here for the Summer Issue of the SSA/IRS Reporter.
News you can use! Check out free e-newsletters from these organizations:
- Internal Revenue Service
- SCORE
- Small Business Administration Advocacy
- U.S. Department of Labor (e-mail Updates box near top right)
- SSA W2 News
- Social Security e-news
- Discussion board--Get help from the Small Business Community
- A new tax center provides a centralized source for E-Business and E-Commerce related issues.
- Victims of severe storms and flooding in additional areas of Florida and North Dakota may qualify for tax relief. Be sure to check for updates on the tax relief in disaster situations page.
- A federal judge has barred a Humboldt, Iowa, woman, Gayle Lemmon, and her tax preparation business from preparing federal tax returns.
- An Orlando man was recently sentenced to more than 22 years in prison in a $181 million payroll-tax fraud case. Outsourcing payroll duties to third-party service providers can streamline business operations but remember, you are ultimately responsible for paying federal tax liabilities
Recent Technical Guidance
- The IRS has designated as a tier I compliance issue "Reporting and Withholding on U.S. Source FDAP Income" under IRC 1441. The focus of compliance improvement will be on withholding agents' obligations to withhold when they make payments of certain types of U.S. sourced income to non-resident aliens.
- Visit the current editions of the Employee Plans News and the Retirement News for Employers.
- IR-2009-50 New withholding adjustment procedures for pension plans that will make withholding more accurate for pension recipients.
- IR-2009-51 Small businesses should take advantage of tax-saving opportunities included in the recovery law that are only available this year.
- IR-2009-52. The 2010 Low Income Taxpayer Clinic (LITC) grant application process is open through July 7, 2009.
- IR-2009-55 Businesses planning to claim the work opportunity tax credit for eligible unemployed veterans and unskilled younger workers hired during the first part of 2009 have until Aug. 17 to request the certification required for these workers. Notice 2009-28 provides the statutory definitions.
- IR-2009-56 Spring 2009 Statistics of Income Bulletin is now available.
- IR-2009-57 By the end of 2009, Commissioner Doug Shulman will propose recommendations addressing taxpayer compliance and standards of conduct for tax preparers. Public meetings are planned and the IRS would like to hear from you.
- IR-2009-58 & Announcement 2009-51 covers the temporary suspension of FBAR filing requirements for persons who are not citizens, residents or domestic entities.
- IR-2009-60 Special Tax Break on New Car Purchases Available in States With No Sales Tax, including Alaska, Delaware, Hawaii, Montana, New Hampshire and Oregon.
- Notice 2009-47 discusses the application of sections 7702 and 7702A to life insurance contracts that mature after age 100.
- Notice 2009-48 covers the treatment of certain employer-owned life insurance contracts.
- Notice 2009-49 provides guidance under section 409A(a)(2)(A)(v) on certain transactions pursuant to the Emergency Economic Stabilization Act of 2008.
- Notice 2009-50 provides guidance on the maximum face amount of recovery zone bonds that may be issued by each state and the counties and large municipalities within each state before Jan. 1, 2011.
- Notice 2009-52 describes the procedures taxpayers will be required to follow to make the irrevocable election to take the investment tax credit determined under section 48 in lieu of the production tax credit under section 45 with respect to certain renewable energy facilities
- Notice 2009-53 updates interim guidance, pending the issuance of regulations, relating to the credit for non-business energy property under section 25C.
- Notice 2009-54 sets forth interim guidance for vehicle manufacturers relating to the new qualified plug-in electric drive motor vehicle credit under section 30D of the Code.
- Revenue Ruling 2009-15 offers several situations where an entity taxed as a partnership becomes a corporation for federal tax purposes and is eligible to make an S election effective for the corporation’s first taxable year.
- Revenue Procedure 2009-29 provides the 2010 inflation adjusted amounts for health savings accounts under section 223 of the Code.
- Revenue Procedure 2009-31 provides guidance regarding consent and revocation procedures for treating intercompany transactions on a separate entity basis.
- REG-119532-08 contains corrections to a notice of proposed rulemaking on graduated retained interests.
- TD 9451 contains a final regulation that provides guidance to taxpayers for determining which corporations are included in a controlled group of corporations.
- TD 9453 and Reg-112994-06 have regulations under section 7874 of the Internal Revenue Code (Code) concerning the determination of whether a foreign corporation shall be treated as a surrogate foreign corporation.
May 29, 2009 - June News Items for Tax Practitioners
- IR-2009-47 The IRS is accepting applications for membership in the IRS advisory committee for a three-year term beginning January 2010. If you're interested, apply now through June 16, 2009.
- IRS Audio and video podcasts are available on a variety of subjects, including ARRA provisions
- The Small Business Administration ARRA site offers information for small businesses.
- IRS has a new Identity Theft Affidavit - Form 14039, that taxpayers can use to document tax-related identity theft. The IRS.gov identity theft/protection page has the new affidavit and requirements. The Federal Trade Commission is the government's central resource for ID theft victims.
- E Services Alert: This alert is to remind you that you agreed not to disclose your E- services password to anyone. You agreed to immediately notify the IRS at 1-866-255-0654 of any unauthorized use of your password or account, or any other breach of security, and ensure that you exit from your account at the end of each session." It has been brought to our attention that this agreement is not being adhered to. Should you disclose your password, you will be held fully responsible for all activities that occur under your password.
- This alert is to remind you that your Practitioner Identification Number (PTIN) belongs to you as an individual, not your company.
- Seven Facts about the New Sales Tax Deduction for Vehicle Purchases
- The updated IRS Construction Tax Center is a one-stop resource for tax information aimed specifically at the construction industry. Our Industries/Professions site has information about many other areas of business.
- A comprehensive new insolvency worksheet taxpayers can use to determine whether and to what extent they are insolvent is included in Publication 4681, Canceled Debts, Foreclosures, Repossessions, and Abandonments (for Individuals). The result can then be used to determine whether and to what extent their canceled debts are excluded from gross income. Information on the tax consequences of canceled debt is available in a pod cast and a written transcript on www.IRS.gov.
RECENT TECHNICAL GUIDANCE - Energy Provisions
- IR-2009-44 - Energy-Saving Steps This Year May Result in Tax Savings Next Year.
Fact Sheet 2009-10 - Tax Credits for Home Energy Efficiency Improvements Increase.
For more information on the renewable electricity production tax credit under Section 45 see Notice 2008-60 and Notice 2008-48, and for more information on the energy investment tax credit under Section 48 see Notice 2008-68. - IR-2009-45. Plug-in electric vehicles using certain types of batteries may qualify for a new tax credit if purchased this year.
- IR-2009-42 Tax Credit for Ford Hybrids Begins Phase-Out Notice 2009-37 announces the phase-out of the new qualified hybrid motor vehicle credit for vehicles manufactured by Ford Motor Company.
- Notice 2009-41 provides procedures that manufacturers may follow to certify property as qualified residential energy efficient property under §25D of the Internal Revenue Code, and guidance regarding when taxpayers seeking to claim the §25D credit may rely on a manufacturer's certification.
Get links to information on how taxpayers can voluntarily disclose unreported offshore income.
- Certain individuals who have expatriated will need to file an initial Form 8854, Initial and Annual Expatriation Information Statement. A revised Form 8854 should be available before June 15 or the 2007 Form 8854 may be used, but the individual should strike out “2007” and replace it with "2008."
- Headliner 265: FBAR Reporting by Persons with Only Signature Authority or Other Comparable Authority
- April 2009 Special Edition Employee Plans News and Announcement 2009-34 contains the IRS's request for comments on drafts of a revenue procedure and sample plan language for §403(b) prototype plans and highlights of the draft revenue procedure. If you have a SEP, SIMPLE IRA, 401(k) or other retirement plan, subscribe to Retirement News for Employers, the free electronic newsletter with information and tips on managing your plan.
- IR-2009-41, Beware of IRS' 2009 “Dirty Dozen” Tax Scams
- IR-2009-43 - Low Income Taxpayer Clinic Grant Recipients Announced. Organizations Receiving LITC Grants for the 2009 Cycle
- Notice 2009-36 discusses payments made to a real estate mortgage investment conduit (REMIC) pursuant to the home affordable modification program (HAMP). Revenue Procedure 2009-23 describes the conditions under which modifications to mortgage loans pursuant to the HAMP will not cause the IRS to challenge the tax status of REMICs or fixed investment trusts or to assert that those modifications to mortgages held by a REMIC give rise to a prohibited transaction. It will be published in IRB 2009-17 dated April 27, 2009.
- Notice 2009-38 provides guidance regarding IRC 382 for corporations whose instruments are acquired by the Treasury Department under the Emergency Economic Stabilization Act of 2008
- Notice 2009-42 extends the date for multiemployer plans to elect relief under sections 204 and 205 of the Worker, Retiree, and Employer Recovery Act of 2008 (WRERA
- Notice 2009-43 invites public comment on recommendations for items that should be included on the 2009-2010 Guidance Priority List.
- Notice 2009-44 clarifies that utility costs paid by a tenant based on actual consumption in a sub-metered rent-restricted unit are treated as paid directly by the tenant.
- Revenue Ruling 2009-11 provides that differential pay that employers pay to their employees that leave their job to go on active military duty is subject to income tax withholding, but is not subject to Federal Insurance Contributions Act (“FICA”) or Federal Unemployment Tax Act (“FUTA”) taxes. Additionally, the ruling provides that employers may use the aggregate procedure or optional flat rate withholding to calculate the amount of income taxes required to be withheld on these payments, and that these payments must be reported on Form W-2.
- Revenue Ruling 2009-13 and Revenue Ruling 2009-14 provides guidance on the surrender and purchase of life insurance contracts.
- Revenue Ruling 2009-15 explains that a partnership that converts to a corporation under § 301.7701-3(c)(1)(i) or under a state law formless conversion statute is eligible to make an S election effective for the corporation's first taxable year.
- Revenue Procedure 2009-25 describes a new pilot program for letter rulings for certain transactions under the jurisdiction of the Associate Chief Counsel (Corporate). The new program does not diminish the availability of letter rulings under existing programs.
- Revenue Procedure 2009-26 provides guidance on how an eligible small business makes an election to carry back a net operating loss (NOL) for a taxable year ending after 2007, for three, four or five years instead of the normal two years.
- Revenue Procedure 2009-27 provides guidance with respect to the U.S. median gross income most recently published by the Department of Housing and Urban Development for use by issuers of qualified mortgage bonds and mortgage credit certificates in determining the housing cost/income ratio.
- REG-107845-08 and TD 9448 relates to the use of actuarial tables in valuing annuities, interests for life or terms of years, and remainder or reversionary interests.
- REG-119532-08 contains proposed regulations that provide guidance on the portion of trust property includible in the grantor's gross estate and will affect estates that file Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return.
- REG-144689-04 contains proposed regulations regarding the determination of distributive shares when a partner's interest changes.
May 28, 2009 - Update from NPL on American Recovery and Reinvestment Act of 2009 (ARRA)
Today the IRS released information on the Work Opportunity Tax Credit of the American Recovery and Reinvestment Act of 2009 (ARRA). Please see IR-2009-55 and Notice 2009-28 which provide guidance to businesses hiring unemployed veterans and certain youth. Additional information will be shared with you as it becomes available. Click here to link to ARRA information on the IRS website.
Please direct to Anna Millikan (Anna.Millikan@irs.gov) any questions you may have on technical provisions or implementation, and they will be forwarded to the appropriate office within IRS.
April 22, 2009 - Identity Theft Affadavit Now Available
The IRS has released two new forms for taxpayers that have experienced or are at risk of harm from identity theft:
- Form 14039: IRS Identity Theft Affidavit
- Form 14039SP: Declaración Jurada sobre el Robo de Identidad
More information about identity theft can be found here.
April 22, 2009 - Next National Phone Forum: May 20
The next phone forum is scheduled for Wednesday, May 20, 2009. The topic will be "Proper Worker Classification." Remember, the phone forum is free and can be attended from the comfort of your home or office.
Please see this PDF for more information.
April 22, 2009 - May News Items for Tax Practitioners
- The last live Tax Talk Today will be held on May 12 and will cover Specialty Taxes: Estate and Gift, and Employment Taxes. Archived programs will be available through the end of the year.
- Industry specific Tax Centers, web pages at irs.gov with links to a wealth of information for a specific type of business, are available for the following:
Agriculture Gas Retailers Self Employed Automotive Online Auction Sellers Small Business & Self-Employed Bartering Restaurants - The 2009 revision Publication 919, How do I adjust my withholding? has information to help workers insure that they are having enough withheld It includes computations for the "Making Work Pay" credit, standard deduction for those with real estate taxes, new car purchases, and Midwesterners displaced by disasters.
- E-filer Information: View the IRS policy on using pay stubs in lieu of W2s. Use the correct name controls for partnerships and corporations.
- IR-2009-28 The Internal Revenue Service seeks volunteers to serve on the Taxpayer Advocacy Panel (TAP), which listens to taxpayers, identifies key issues and makes recommendations for improving IRS service. TAP members are being sought for Illinois, Minnesota, Missouri and North Dakota.
- Listen to interviews and podcasts on a variety of topics. Post them to your Web site or send out the script as a Q&A in your newsletter.
- The IRS and the New York Chapter of the Tax Executives Institute (TEI) are holding a conference* for taxpayers aligned with the Communications, Technology and Media Industry. It takes place in New York City on May 21. Attendance is limited and CPE credit is available. *This link is not an IRS link.
- SBA has online training and other resources to help small businesses during these challenging economic times.
- E-Verify, A federal system that lets employers check the legal status of their workers is soaring in popularity across the country, growing by 1,000 companies a week, fueled by anxiety over workplace raids and uncertainty over the future of the nation's illegal immigrants.
- The 2009 Form W7 (ITIN) Acceptance Agent National Conference* will be held on June 23 - 24, 2009 in Tucson, AZ.. All new approved acceptance agents are strongly encouraged to attend. Information on ITINs is available in English and there is also an audio interview on ITIN in Spanish. *This link is not an IRS link.
RECENT TECHNICAL GUIDANCE
- Struggling or foreclosed homeowners can find information at Tax Tip 2009-44 Mortgage Debt Forgiveness; Home foreclosure and debt cancellation and Publication 4705SP has Tax Relief for Struggling Homeowners in Spanish.
- The latest additions to the series of new forms for correcting errors on employment tax returns are now available: Form 943X, Form 944X and Form 945X
- Victims of "Ponzi" schemes find help in Revenue Procedure 2009-20 and Revenue Ruling 2009-09. See Commissioner Shulman's testimony on tax issues related to Ponzi schemes and the IRS' ongoing efforts to detect and stop unlawful offshore tax avoidance.
- American Recovery and Reinvestment Act (ARRA): Check for updates on the Recovery Act Web page.
- Scams have been reported surrounding the $250 payment under ARRA for certain recipients of Social Security, SSI, Veterans Affairs and Railroad Retirement Board benefits. These scams should be reported to www.socialsecurity.gov/oig or by calling the fraud hotline at 1-800-269-0271 (9 a.m. - 3 p.m. CT). Payment information is found at http://www.ssa.gov/payment/
- Notice 2009-27, Premium Assistance for COBRA Benefits, includes 58 questions and answers on the COBRA subsidy provision of the recent Recovery Act, including involuntary termination, assistance eligible individual, and payments to insurers. www.dol.gov/COBRA has expanded FAQs for Employers and a webcast on COBRA.
- IR-2009-26 and Revenue Procedure 2009-19 Small businesses with deductions exceeding their income in 2008 can use a new net operating loss (NOL) tax provision to get a refund of taxes paid in prior years. A question-and-answer document has more.
- IR-2009-27 First-Time Homebuyers Have Several Options
- IR-2009-29 First $2,400 of Unemployment Benefits Tax Free for 2009
- IR-2009-30 Special Tax Break Available for New Car Purchases This Year
- Revenue Procedure 2009-21 covers ARRA changes to inflation adjusted amounts.
- IR-2009-37, Credit or debit card convenience fees charged for paying federal individual income taxes electronically are deductible for some taxpayers who itemize.
- Announcement 2009-28 concerns the annual report concerning Advance Pricing Agreements.
- Notice 2009-36 and Revenue Procedure 2009-23 discuss the Home Affordable Modification Program, which will apply to mortgage loans held by real estate mortgage investment conduits and fixed investment trusts.
- Revenue Procedure 2009-22 is provided to individuals who fail to meet the eligibility requirements of section 911(d)(1) because of adverse conditions in a foreign country.
- Revenue Procedure 2009-24 provides the depreciation deduction limitations and lessee inclusion amounts for owners of passenger automobiles first placed in service during calendar year 2009.
- ● REG-158747-06 provides notice of public hearing on proposed rulemaking relating to withholding under section 3402(t) of the Internal Revenue Code.
- Employee Plans: March 2009 Employee Plans News. This Special Edition states that defined benefit plans may use a reasonable interpretation in selecting a yield curve for determining a plan's liabilities for funding purposes. Notice 2009-22 provides interim rules regarding asset valuation methods that are permitted to be used by single employer defined benefit pension plans for minimum funding purposes pursuant to changes made by the Worker, Retiree, and Employer Recovery Act of 2008, Public Law 110-458. Notice 2009-31 provides election and notice procedures for multiemployer plans under sections 204 and 205 of WRERA
- Fuel Credits: Notice 2009-23 updates procedures for the allocation of credits for the qualifying gasification project program of § 48B; and Notice 2009-24 updates procedures for the allocation of credits for the qualifying advanced coal project program under § 48A.. Notice 2009-32 announces the 2008 section 45K credit for fuel produced from coke or coke gas Notice 2009-34 extends the time for making biodiesel claims.
- Bonds: IR-2009-33 and Notice 2009-26 discuss the Build America Bonds program; Notice 2009-29 discusses qualified energy conservation bonds Notice 2009-30 discusses Qualified Zone Academy Bonds, Notice 2009-35 discusses Qualified School Construction Bonds; Notice 2009-33 discusses clean renewable energy bonds.
April 10, 2009 - E-Services Outage
E-Services will be unavailable on Sunday, May 3, 2009 from 5:00 PM - 9:00 PM EDT. Please save the date - we will provide updated information if and when it becomes available.
March 30, 2009 - April IRS News for Tax Pros
February 12, 2009 - 2009 Nationwide Tax Forum Now Open
Registration for the 2009 Nationwide Tax Forum is now open. The link below will provide you with more information.
www.irs.gov/taxpros/article/0,,id=173843,00.html
Here are the locations and the costs:
- Las Vegas, NV - Mandalay Bay Hotel. July 7 - 9
- San Diego, CA - Town and Country. July 14 - 16
- Orlando, FL - Caribe Royale. August 4 - 6
- New York, NY - Hilton New York. August 25 - 27
- Dallas, TX - Hilton Anatole. September 8 - 10
- Atlanta, GA - Hilton Atlanta. September 22 -24
$206 by the pre-registration date
$335 for late registration and on-site registration
There are no group discounts.
As you can see, the Nationwide Tax Forum will not be held in Chicago this year. We do encourage you to attend as you can obtain a wealth of information. Attendance at the Nationwide Tax Forum seminars qualifies for Continuing Professional Education (CPE) credit for Enrolled Agents, CPAs, and California Tax Education Council (CTEC) participants. This year's seminar schedule allows for a maximum of 18 credits that can be earned at each Forum location.
If you plan to attend, register early as the hotel rooms book up very fast.
January 27, 2009 - New EITC Toolkit Available
Please alert the members of your organization who prepare returns with Earned Income Tax Credit or EITC claims. The resources they need are now online at www.eitc.irs.gov. EITC Central brings together all of the IRS' EITC tools in a single location for their convenience.
We know tax professionals are busy and need to locate information quickly. With EITC Central, they can find it fast.
Your members can:
- Get the latest information on their due diligence responsibilities
- Link to IRS.gov and the EITC Assistant
- Get the latest EITC tax law updates
- And, more
EITC Central is their gateway to technical information, forms and publications, communication products, state-by-state EITC statistics, Marketing Express, which supports custom tailored EITC products, and more.
January 16, 2009 - 2009 Annual SB/SE Customer Base Survey to Begin
The Small Business/Self-Employed (SB/SE) division of the IRS will begin conducting its annual telephone survey of taxpayers starting January 21, 2009 and running through mid-April, 2009. This survey is targeted to small business and self-employed taxpayers who file certain income tax forms, including: 1120, 1120A, 1120S, 1065 and 1040 with schedules C, E or F.
As in previous years, the survey is designed to gather opinions about the delivery of SB/SE products and services. Taxpayers selected at random to participate in the survey will receive an advance letter from the survey contractor, Pacific Market Research (PMR), which will also include a letter from SB/SE Commissioner, Christopher Wagner explaining the purpose and importance of the survey. PMR will conduct the actual surveys by telephone, with each interview typically lasting about 15 to 18 minutes.
Completing the survey is strictly voluntary, and all individual responses will remain anonymous to the IRS. The interviewers from PMR will not ask for any personal or financial information, including Social Security or Employer Identification Numbers, or banking or financial information.
If contacted to take the survey, your cooperation and time in answering the questions will certainly be appreciated. Your thoughts and opinions help us in achieving our mission to provide top-quality service to America's taxpayers.
If you have been contacted by PMR and would like additional details about the survey, please contact Policy Analyst Dorian Shawcross at 202-283-2809.
January 14, 2009 - Tax Law Changes Related to the Midwestern Disaster Areas
This fact sheet talks about the tax law changes as a result of the severe storms and flooding that occurred in Illinois and other states in 2008. See the attached for more information along with the applicable disaster date and the counties involved.
December 17, 2008 - Changes to Lockbox Addresses Could Affect the Clients You Serve
The IRS lockbox payment addresses are changing for both individual and business taxpayers affecting five states for individual taxpayers and 23 states for business taxpayers. On January 1, 2009, Treasury's Financial Management Service (FMS) and the Internal Revenue Service will discontinue operations at the Dallas, Texas lockbox facility.
Payments for individual taxpayers that were previously sent to Dallas, Texas, should now be mailed to the lockbox site in Charlotte, North Carolina as shown below:
| If your client lives in... | And files form... | Send Payments to... |
|---|---|---|
| Kentucky Louisiana Mississippi Tennessee Texas or International | 1040, 1040A, 1040EZ | P. O. Box 1214 Charlotte, NC 28201-1214 |
| International Forms 1040, 1040A, 1040EZ | P. O. Box 1303 Charlotte, NC 28201-1303 | |
| 1040ES or 1040ES International | P. O. Box 1300 Charlotte, NC 28201-1300 | |
| 4868 or 4868 International | P. O. Box 1302 Charlotte, NC 28201-1302 |
Payments for business taxpayers that were previously sent to Charlotte, North Carolina, should now be sent to the lockbox site in Cincinnati, Ohio, as shown in the chart below:
| If your client lives in... | And files form... | Send Payments to... |
|---|---|---|
| Connecticut Delaware Georgia Illinois Indiana Kentucky Maine Maryland Massachusetts Michigan New Hampshire New Jersey New York North Carolina Ohio Pennsylvania Rhode Island South Carolina Tennessee Vermont Virginia West Virginia Wisconsin | 940 | P. O. Box 804521 Cincinnati, OH 45280-4521 |
| 941 | P. O Box 804522 Cincinnati, OH 45280-4522 | |
| 943 | P. O. Box 804523 Cincinnati, OH 45280-4523 | |
| 944 | P. O. Box 804522 Cincinnati, OH 45280-4522 | |
| 945 | P. O. Box 804524 Cincinnati, OH 45280-4524 | |
| 2290 | P. O. Box 804525 Cincinnati, OH 45280-4525 | |
| 1041ES | P. O. Box 804526 Cincinnati, OH 45280-4526 |
These changes are reflected on the Tax Professionals' page on IRS.gov and will be included in the next revision of Publication 3891, Lockbox Address Directory.
Modified: October 19, 2009
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