Friday, July 15, 2011

FYI: IRS Nationwide Tax Forum in San Jose

We've been asked by our National Public Liaison Team to help promote the IRS Nationwide Tax Forum in San Jose. This is the first year an IRS Nationwide Tax Forum has been offered in San Jose!  Thus far the registration has been low compared to other locations. If you've been to the Forum in Las Vegas, you have probably dealt with crowds and long lines.  The Forum in San Jose will provide a much more relaxed and comfortable experience since there are fewer registered. You will have easier access to all of the same sessions offered in Las Vegas with smaller crowds Also, the California Franchise Tax Board and the Board of Equalization will have representatives at the San Jose Forum but not at the Las Vegas Forum.  Please encourage your members to attend the Forum in San Jose! 
 
 

REGISTER NOW:  www.irstaxforum.com

 Dear California Enrolled Agent: 

 
The IRS invites you and other tax professionals to register early for one of the six IRS Nationwide Tax Forums being held this summer. Those who take advantage of the early registration save $129.  The enrollment cost for those who register early is $206 per person, a savings of over 38 percent off the late or on-site registration price of $335. The early registration period closes two weeks prior to each forum.
 
The forums are three-day events presented by IRS experts and partner organizations that offer up-to-date information on federal and state tax issues and the opportunity to receive up to 18 continuing education credits. In a 2010 survey, the forums received a 95 percent satisfaction rate.  This year, 40 different topics are being covered, each qualifying for continuing professional education credit for enrolled agents and certified public accountants. 

In addition to the seminars and workshops, the forums feature a two-day expo designed with the tax professional in mind, with representatives from the IRS and other tax, financial, and business communities offering their products and services.  Attendees can also visit the IRS Preparer Services Room and learn about the agency’s e-Services to benefit their business, offer comments on various initiatives and programs, or participate in a focus group session.

Finally, attendees are invited to bring their most challenging unresolved case to the Case Resolution Room.  Participants are encouraged to bring the case resolution data sheet (see the Forum website) completed to speed the process faster.  Last year, a total of 1235 cases had a 97 percent on-site resolution rate. 

The only Forum being held in Californiwill be in San Jose. To register for this Forum, visit http://www.irstaxforum.com.   Thank you! 

 
Jennifer Henrie-Brown, ID #94-07690
Stakeholder Liaison Specialist
SBSE Communications, Liaison & Disclosure
510-637-2199/ fax 510-637-2434

   

IRS News & Events from Stakeholder Liaison (July 15, 2011)

Hello Everyone,

 

Please share the below information with your members and colleagues.  Select the blue links to see the full article.

 

Have a wonderful weekend!

 


Newsroom                                                                                                                  July 15, 2011

 

Treasury and IRS Issue Guidance Outlining Phased Implementation of FATCA Beginning in 2013
IR-2011-76, July 14, 2011 — The Treasury Department and the Internal Revenue Service today issued a notice announcing plans to phase in the requirements of the Foreign Account Tax Compliance Act (FATCA).

IRS Nationwide “Fresh Start” Open House Set for Saturday July 16
IR-2011-75 July 13, 2011 –– More than 70 Taxpayer Assistance Centers will be open from 9 a.m. to 2 p.m. local time.

IRS Identifies 100,000 Preparers Who Failed to Follow New PTIN Rules
IR-2011-74, July 12, 2011 — As part of its new oversight program of the nation’s tax return preparation industry, the IRS announced it will send letters to approximately 100,000 tax return preparers who prepared returns in 2011 but failed to follow new requirements.

IRS Urges Taxpayers to Avoid Becoming Victims of Tax Scams
IR-2011-73, July 11-2011 — Taxpayers are encoraged to be on their guard against those who would encourage them to file tax returns with false claims to get refunds to which they are not entitled.

 

IMRS Hot Issues - July 1, 2011

CP 2000 Notices on “dotted line” Entries, Notice 2011-45, and the Related Final Regulation TD 9527, Regulations Governing Practice Before the Internal Revenue Service, Standard Mileage Rates Change on July 1 and more . . .


 

IRS Technical Guidance

 

Tax Exempt Bonds Questionnaire Project: Final Report on Governmental and Charitable Financings

The Tax Exempt Bonds function of the IRS Tax Exempt and Government Entities Division has published the final report on its Tax-Exempt Charitable Financings Compliance Check Questionnaire and Governmental Bond Financings Compliance Check Questionnaire projects.

 

Employee Plans News Issue Number:    2011-5 - Inside This Issue

2009 Form 8955-SSA and 2010 Form 5500-EZ Released, Form 5500 – Special Extensions of Time to File, Employee Plans Rulings & Agreements Priority Items and more . . .

 

FSLG Newsletter - July 2011

Section 3402(t) Withholding Delayed Until 2013; FSLG and the National Research Program; Withholding Agents and Form 1042-S; FSLG Offers Webinars to Governments; Repeal of Expanded Information Reporting; Directory of FSLG Specialists

 

IRS Video Explains How to Regain Exempt Status

The IRS explains how small nonprofits can get their tax-exempt status reinstated in this new YouTube video

Watch this and other videos on the IRS’s YouTube Channel

 

Summer SSA/IRS Reporter

The Summer 2011 issue of SSA/IRS Reporter is now available online in English and Spanish.

 

Outreach Corner 

Find it easy to spread the word about key income tax topics!  This page offers you electronic communication materials to use in reaching out to the people you serve. Get free news you can use each month, targeted by time of year to coincide with what your customers, employees, volunteers, etc. need to know about new tax law legislation, IRS events and other activities that affect them.


Events

 

National/Local Phone Forums and Webinars for Practitioners

 

Information for Tax Exempt Bond Community:

·         Ethics For Employee Plans Practitioners - July 29, 2011

·         EPCRS :  Plan Correction Issues  -   August 25, 2011

 

IRS Nationwide Tax Forums  - Plan ahead – Here are the locations for the 2011 Forums!


 

I hope you find this information useful.  If you would like additional information, you can subscribe to an IRS e-Subscription by going to the Subscription page on IRS.gov.

 

If you would like to discontinue receiving my local Stakeholder Liaison e-mails, please e-mail me at Jennifer.Henrie-Brown@irs.gov and request removal of your name.

 

 

Jennifer Henrie-Brown, ID #94-07690
Stakeholder Liaison Specialist
SBSE Communications, Liaison & Disclosure
510-637-2199/ fax 510-637-2434

 

Friday, July 1, 2011

IRS News & Events from Stakeholder Liaison (July 1, 2011)

Hello Everyone,
 
I hope all is going well with you!
 
Please share the below information with your colleagues.  Select the blue links to see the full article.
 
Have a wonderful 4th of July!
 

 

Newsroom                                                                                                                                                                                     July 1st, 2011 

 

National Taxpayer Advocate Submits Mid-Year Report to Congress; Identifies Priority Challenges and Issues for Upcoming Year
IR-2011-71, June 29, 2011 — National Taxpayer Advocate Nina E. Olson released a report to Congress that identifies the priority issues the Taxpayer Advocate Service (TAS) will address during the coming fiscal year.

Reminder: Report Certain Foreign Bank and Financial Accounts to Treasury by June 30
IR-2011-70, June 24, 2011 — IRS reminds everyone who has a bank or other financial account in a foreign country that they may be required to report it to the U.S. Department of the Treasury by June 30 each year. 
More information is available on IRS.gov, including recent FBAR guidance regarding administrative relief for certain individuals with signature authority over, but no financial interest in, foreign financial accounts:  http://www.irs.gov/businesses/small/article/0,,id=148849,00.html.

IRS Increases Mileage Rate to 55.5 Cents per Mile

IR-2011-69, June 23, 2011 — Starting July 1, the standard mileage rate for business miles driven is increased to 55.5 cents per mile.  

 

IRS Electronic Tax Administration Advisory Committee (ETAAC) Delivers Report to Congress
IR-2011-68, June 15, 2011 — The Electronic Tax Administration Advisory Committee released its 2011 Annual Report to Congress.

Spring 2011 Statistics of Income Bulletin Now Available
IR-2011-67, June 14, 2011 — The IRS released the spring 2011 issue of the Statistics of Income Bulletin.

IRS Identifies Organizations that Have Lost Tax-Exempt Status; Announces Special Steps to Help Revoked Organizations
IR-2011-63, June 8, 2011–– The IRS announced that approximately 275,000 organizations have automatically lost their tax-exempt status because they did not file legally required annual reports for three consecutive years.

Treasury and IRS Announce Proposed Changes to New Markets Tax Credit Program to Foster Greater Investment in Operating Businesses
IR-2011-61, June 3, 2011 — The U.S. Treasury and IRS announced proposed changes to the new markets tax credit program to encourage more investment in non-real estate businesses.

 

IMRS Hot Issues - July 1, 2011

CP 2000 notices on "dotted line" entries; IRS announces special steps to help revoked tax-exempt organizations; Regulations governing practice before the IRS released, and more . . .


 

IRS Technical Guidance 

 

Revenue Procedure 2011-38 modifies and supersedes the guidance concerning the treatment under sections 1035 and 72 of the partial exchange of an annuity contract.  Specifically, the revenue procedure provides that the direct transfer of a portion of the cash surrender value of an existing annuity contract for a second annuity contract will be treated as a tax-free exchange under section 1035 if no amount, other than an amount received as an annuity for a period of 10 years or more or during one or more lives, is received during the 180 days beginning on the date of the transfer.  A subsequent direct transfer is not taken into account.  Other transactions will be characterized consistent with their substance.  Prior to this revenue procedure's effective date, Rev. Proc. 2008-24 will be applied with the clarification that the conditions described in section 4.01(b) or Rev. Proc. 2008-24 will be treated as satisfied if the condition was satisfied on the date of the withdrawal or surrender. 

Announcement 2011-40 advises the public the Internal Revenue Service is revising the optional standard mileage rates for computing the deductible costs of operating an automobile for business, medical, or moving expense purposes and for determining the reimbursed amount of these expenses that is deemed substantiated.  This modification results from recent increases in the price of fuel.  The revised standard mileage rates are 55.5 cents per mile for business use of an automobile and 23.5 cents for use of an automobile as a medical or moving expense.  The mileage rate for use of an automobile as a charitable contribution is fixed by statute and remains 14 cents.  The revised standard mileage rates apply to deductible transportation expenses paid or incurred for business, medical, or moving expense purposes on or after July 1, 2011, and to mileage allowances that are paid both (1) to an employee on or after July 1, 2011, and (2) for transportation expenses an employee pays or incurs on or after July 1, 2011.  Announcement 2011-40 will be published in Internal Revenue Bulletin 2011-29 on July 18, 2011. 

Notice 2011-56 provides interim guidance to taxpayers under § 1012 of the Internal Revenue Code on issues relating to the basis of stock subject to broker reporting under § 6045, pending publication of superseding guidance.  Notice 2011-56 will be published in Internal Revenue Bulletin 2011-29 on July 18, 2011

Notice 2011-54 provides additional administrative relief to persons whose requirement to file Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR), to report signature authority over foreign financial accounts held during calendar year 2009 or earlier calendar years was properly deferred under Notice 2009-62, 2009-35 I.R.B. 260, or Notice 2010-23, 2010-11 I.R.B. 441.

 

Notice 2011-48 invites public comments on the content and administration of the registered tax return preparer competency examination.  The Treasury Department and the Internal Revenue Service have published final regulations (TD 9527, 76 FR 32286) under 31 CFR Part 10 that require certain individuals to pass a competency examination to become a registered tax return preparer.  The IRS has selected a vendor to support the IRS in developing and administering the competency examination for the Form 1040 series tax returns and accompanying schedules.

 

Withdrawal of Notice of Federal Tax Lien after ReleaseMemorandum issued Interim Guidance (IG) for processing requests for withdrawal of notices of federal tax lien after the lien has been released.  To find additional staff guidance, go to the FOIA Electronic Reading Room.”  

 


 

Other News: 

 

IRS tips for bankruptcy trustees: A new IRS.gov page offers tips for bankruptcy trustees who receive IRS collection notices. 

The IRS Return Preparer Office has a new Facebook pageThe IRS Return Preparer Office, building on its partnership with the tax professional community, has opened another communications avenue that it hopes becomes a two-way street. Yes, we're talking Facebook. The Return Preparer Office is entering a strange world of "friends" and "likes" and other words we're not used to hearing. 

The IRS speaks many languages:  The IRS is constantly improving and expanding services and products for all taxpayers, including people who speak limited English.  Searchers will find more than 700 translated forms and publications available to download on IRS.gov.  This includes the Publications 850 series, a series of glossaries that translates words and phrases from English to Spanish, simplified Chinese, traditional Chinese, Korean, Vietnamese and Russian.  IRS.gov also provides basic tax information relevant for those speaking other languages:   

  • The Multilingual Gateway provides basic federal tax information and downloadable files in Chinese, Vietnamese, Russian and Korean. 
  •  EL IRS en EspaƱol provides Spanish-speaking individuals access to forms and publications, information and tools, including the EITC Assistant, online payment agreements, Where’s My Refund?  
  • The Spanish Multimedia Web page offers links to podcasts, YouTube, the IRS Video Portal and text files.  

 

Events 

 

IRS Open House:  The IRS is hosting an Open House, Saturday, July 16, in 74 Taxpayer Assistance Centers in 34 states, Washington D.C. and Puerto Rico, from 9 a.m. to 2 p.m. local time. Open Houses provide the opportunity for taxpayers who have questions about notices, payment agreements or tax liens to get answers for a fresh start.  Over 16,000 taxpayers attended the first two events in February and March, resolving most of their concerns the same day.

  

National/Local Phone Forums and Webinars for Practitioners: 

 

IRS Nationwide Tax Forums  - Plan ahead – Here are the locations for the 2011 Forums!


 

I hope you find this information useful.  If you would like additional information, you can subscribe to an IRS e-Subscription by going to the Subscription page on IRS.gov

 

If you would like to discontinue receiving my local Stakeholder Liaison emails, please email at Jennifer.Henrie-Brown@irs.gov and request removal of your name.

 

Jennifer Henrie-Brown, ID #94-07690
Stakeholder Liaison Specialist
SBSE Communications, Liaison & Disclosure
510-637-2199/ fax 510-637-2434