Practitioner Email Group:
Practitioner Email Group:
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Newsroom February 18, 2011
Interest Rates Increase for the Second Quarter of 2011
IR-2011-17, Feb. 17, 2011 — For the calendar quarter beginning April 1, 2011, interest rates for underpayments and overpayments will in one percentage point.
IRS Begins Processing Tax Forms Affected by Late Tax Changes; Taxpayers can e-File Immediately
IR-2011-16, Feb. 15, 2011 — The Internal Revenue Service announced it has started processing individual tax returns affected by legislation enacted in December and reminded taxpayers that they can begin filing electronically immediately.
IRS FY 2012 Budget Proposal Summary
FS-2011-09, February 2011 — The Administration’s FY 2012 budget request for the Internal Revenue Service will help reduce the deficit through increased tax enforcement revenues.
Second Special Voluntary Disclosure Initiative Opens; Those Hiding Assets Offshore Face Aug. 31 deadline
IR-2011-14, Feb. 8, 2011 — Those hiding assets offshore can get current with their taxes through a new Offshore Voluntary Disclosure Initiative.
IMRS Hot Issues – February 2, 2011
Additional Guidance for Tax Return Preparers, Form W-4 Confirmed as Correct and more . .
IRS Technical Guidance
Announcement 2011-14 advises the public that expenses for breast pumps and supplies that assist lactation may be deducted as medical expenses or reimbursed under a flexible spending arrangement or similar plan.
Announcement 2011-16 alerts of the correction of a typographical error on Revenue Ruling 2011-3 that was published in IRB 2011-4 on January 24, 2011. The error has been corrected and the table as it currently appears in the IRB is correct.
Advance proof copy of Form 941 The draft Form 941 with a new line 5e, Section 3121(q) Notice and Demand—Tax due on unreported tips, is now on IRS.gov.
Why Pay Taxes? The Truth About Frivolous Tax Arguments responds to some of the more common frivolous "legal" arguments made by individuals and groups who oppose compliance with the federal tax laws.
Correction to the 2010 Instructions for Form 8910 -- 14-FEB-2011, Correction to 2010 Publication 590, Individual Retirement Arrangements (IRAs) -- 14-FEB-2011, Correction to the 2010 Instructions for Schedule F (Form 1040) -- 31-JAN-2011 and more
- Requirements for Federal Tax Return Preparers – March 30, 2011
- Starting Off Right (Part II): What New Non-501(c)(3) Organizations Need to Know (02/24/2011)
- EP Technical Guidance - March 4, 2011
- Form 5330 - Completion and Processing Tidbits - March 24, 2011
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