Tax Practitioner Video and Audio Presentations | |||||||||||||||||||
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Tuesday, October 27, 2009
Correspondence Examinations (Audio, Transcript)
Friday, October 23, 2009
IRS News and Information Oct 23, 2009
New Form Aids Processing of Mortgage Applications, Makes Ordering Tax Transcripts Simpler
IR-2009-96, Oct. 21, 2009 — The Internal Revenue Service today issued a new form that will make it simpler for people, especially homeowners trying to modify or refinance their mortgages, to order copies of their tax return transcripts.
IR-2009-95, Oct. 19, 2009 — Prepared Remarks of IRS Commissioner Doug Shulman before the 2009 NACD Corporate Governance Conference in
New Video Series Helps Exempt Organizations Understand Redesigned Form 990 Requirements
IR-2009-92, Oct. 14, 2009 — The Internal Revenue Service has launched a new case study and video program to help exempt organizations and their tax preparers better understand the newly revised Form 990 series which must be filed for the 2008 tax year.
New IRS Retirement Plan Navigator Aims to Help Small Businesses
IR-2009-91, Oct. 13, 2009 — The Internal Revenue Service has created a new Web-based tool to help small business owners determine which tax-favored pension plan best suits their needs and how to keep their plans in compliance.
SSA W-2 News, Issue 2009-04, October 14, 2009
Business Services Online Not Available from October 31 until November 2, 2009
http://www.irs.gov/newsroom/article/0,,id=213862,00.html?portlet=6 -- Reminder of phishing and identiy theft
Technical Guidance
IRS Announces Pension Plan Limitations for 2010
The Internal Revenue Service today announced cost of living adjustments applicable to dollar limitations for pension plans and other items for Tax Year 2010
Sets forth the cost-of-living adjustments to certain items for 2010 as required under various provisions of the Code.
If You Have Losses, Know Your Disclosure Requirements
The IRS is reminding taxpayers to use Form 8886 to disclose information for each reportable transaction in which they participated. Generally, Form 8886 must be attached to the tax return for each tax year in which there was participation in a reportable transaction.
Events
Free IRS Webinar – e-File improves tax professionals’ business
National Phone Forums (http://www.irs.gov/businesses/small/article/0,,id=158856,00.html)
Internal Revenue Service Webinar
· The Business Case for e-file: A Panel Discussion with Tax Professionals, Tuesday, October 27, 2009
NSCPA Southwest Tax Conference, December 8~9, 2009
· The Southwest Tax Conference includes individual, small business, large to mid-size companies, regulations, and multi-state items. Hear from tax experts, earn up to 16 hours of CPE all in
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 James.R.Kinsey@irs.gov and request removal of your name.
Friday, October 9, 2009
IRS News Events from Stakeholder Liaison - 9 October 2009.doc
Please share with your members and colleagues. Select the blue links to see the full article
Newsroom October 9, 2009
Oct. 17 is Last Day for Businesses to Request Tax Credit Certification for Some New Hires
IR-2009-89, Oct. 8, 2009 ― Businesses planning to claim the recently-expanded work opportunity tax credit for eligible unemployed veterans and disconnected youth hired before mid-September now have until Oct. 17 to request the certification required for these workers, according to the IRS.
Special Sales Tax Deduction for Car Purchases Available through End of 2009
IR-2009-88, Oct. 7, 2009 — With 2010 models arriving in dealer showrooms, the IRS reminds taxpayers that purchasing a new car, light truck, motor home or motorcycle could qualify them for a special deduction for the state and local sales and excise taxes on their 2009 tax returns.
IR-2009-87, Oct. 1, 2009 — The Oct. 15 deadline is approaching for taxpayers who requested a six-month extension to file their 2008 tax returns.
RIf You Have Losses, Know Your Disclosure Requirements
The IRS is reminding taxpayers to use Form 8886 to disclose information for each reportable transaction in which they participated. Generally, Form 8886 must be attached to the tax return for each tax year in which there was participation in a reportable transaction.
New Questions and Answers Added to Frequently Asked Questions (FAQs) for Form 1120 Schedule M-3
Two new questions and answers have been added to explain the purpose of Schedule M-3 Part I lines 12a-12d (new in 2008) listing certain financial accounting total asset and total liability amounts.
Pre-order 2010 IRS Tax Calendar
You can pre-order Pub 1518, 2010 IRS Tax Calendar for Small Businesses and the Self-Employed, on IRS.gov.
| Columbus Day Weekend Power Outage Will impact the Modernized e-File system during the following hours of operation: From 5:00 am – 8:00 am, Eastern on Monday, October 12, 2009. During this period, the MeF system will not be available to accept e-filed transmissions. The outage impacts the Assurance Testing System and production environments. Please note: the routine Sunday maintenance window is still scheduled from 1:00 am – 7:00 am, Eastern on Sunday, October 11, 2009. EMS Annual Columbus Day Power Outage at Martinsburg Sunday, October 11, 2009, at 9:00 p.m. Eastern Time through Tuesday, October 13, 2009, at 5:00 a.m. Eastern Time. This will affect individual, business, and state returns processed on the EMS located in Martinsburg, West Virginia. Due to the Columbus Day holiday, drains will not occur on Monday for either site (Martinsburg or Memphis). Normal processing will resume Tuesday morning at 5:00 a.m. We apologize for this inconvenience and thank you for your patience. |
SSA W-2 News, Issue 2009-03, October 7, 2009
Business Services Online Not Available on Columbus Day
Technical Guidance
REG - 108045-08 and TD-9466 provide guidance regarding the definition of omission of gross income.
Revenue Procedure 2009-47 provides rules for employees who are reimbursed for lodging, meals, and incidental expenses, or meals and incidental expenses only, while traveling away from home, to substantiate the expenses by per diem allowance in lieu of actual expenses. The revenue procedure also provides an optional method for employees and self-employed individuals who are not reimbursed to use in computing the deductible costs they pay or incur for business meal and incidental expenses, or for incidental expenses only if they pay or incur no meal expenses, while traveling away from home. Use of a method described in this revenue procedure is not mandatory, and a taxpayer may use actual allowable expenses if the taxpayer maintains adequate records or other sufficient evidence for proper substantiation.
REG-160871-04 contains proposed regulations relating to the exception to the general three-year period of limitations on assessment under section 6501(c)(10) of the Internal Revenue Code (Code) for listed transactions that a taxpayer failed to disclose as required under section 6011. These regulations will affect taxpayers who fail to disclose listed transactions in accordance with section 6011.
Headliners
Headliner Volume 275 October 5, 2009, Notice CP 207/207L Problem Corrected for Third Quarter Processing
Headliner Volume 276 October 8, 2009, IRS Spotlights Tax Information for Individuals with Disabilities and Tax Benefits for Small Businesses Who Accommodate and Hire Them
Events
National Phone Forums (http://www.irs.gov/businesses/small/article/0,,id=158856,00.html)
§ First Time Homebuyer Credit To Repay or Not to Repay? – October 21, 2009
Audio reenactments of the national phone forums, IRS Collection Process and Online Fraud and Identity Theft are now on IRS.gov.
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 James.R.Kinsey@irs.gov and request removal of your name.