Newsroom August 8, 2011
2010 Form 8939 is Due Nov. 15; Reporting Option Applies to Many Large Estates
IR-2011-83, Aug. 5, 2011— IRS provides guidance for estates of decedents who died in 2010.
IRS Takes Next Steps in International Realignment; Bolsters Transfer Pricing Compliance Programs and International Coordination
IR-2011-81, July 27, 2011 — IRS announces changes to improve agency's international operations by consolidating certain efforts.
Two-Year Limit No Longer Applies to Many Innocent Spouse Requests
IR-2011-80, July 25, 2011 — The Internal Revenue Service today announced that it will extend help to more innocent spouses by eliminating the two-year time limit that now applies to certain relief requests.
Comments Sought on Updated Rules for IRS Communications with Appeals Office
IR-2011-78, July 19, 2011 — The Internal Revenue Service today requested public comment on proposed updates to existing rules on permissible communications between the Office of Appeals and other parts of the IRS.
IRS Gives Truckers Three-Month Extension; Highway Use Tax Return Due Nov. 30
IR-2011-77, July 15, 2011 — Truckers and other owners of heavy highway vehicles have until Nov. 30, 2011, to file their next federal highway use tax return, which is usually due Aug. 31.
IMRS Hot Issues - August 1, 2011
IRS Gives Truckers Three-Month Extension, IRS Identifies 100,000 Preparers Who Failed to Follow New PTIN Rules, IRS Notice Invites Public Comments Regarding Continuing Education Providers, and more . . .
IRS Technical Guidance
Headliner 312, July 20, 2011 - IRS Reminds Taxpayers that FUTA Surcharge has Expired
The IRS reminds employers that the Federal Unemployment Tax Act surcharge of 0.2% expired on June 30, 2011. This means that the FUTA rate for employers went to 6.0% starting on July 1, 2011.
The Updated Circular 230 is Now Available
The updated Circular 230, revised to reflect the new return preparer oversight program and other changes, is now available on IRS.gov. You may want to bookmark for easy reference.
Notice 2011-61 invites comments regarding education providers under the tax return provider program.
Revised Notice 2011-53 describes the timeline for phased implementation of chapter 4. In particular, it describes the transition rules relating to withholding for USFIs and withholding, due diligence, and reporting obligations for participating FFIs.
TD 9539 contains final regulations that amend the regulations concerning the election to claim the reduced research credit. The final regulations simplify how taxpayers make the election and affect taxpayers that claim the reduced research credit.
Announcement 2011-42 advises taxpayers that the IRS intends to discontinue authorizing the high-low per diem method for substantiating lodging, meal, and incidental expenses incurred in traveling away from home.
Audit Technique Guides offer insight into specific industry issues
IRS audit technique guides include common and unique industry issues, business practices, industry terminology and other information designed to assist IRS examiners in performing examinations, but are also helpful to businesses in those industries for bookkeeping and other purposes. Recently updated Audit Technique Guides include:
FinCEN Announces Taxpayers Can Report Foreign Financial Accounts Electronically
The Financial Crimes Enforcement Network (FinCEN) announced July 18 that taxpayers now can electronically file Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR).
Events
National/Local Phone Forums and Webinars for Practitioners
- The IRS Fresh Start Initiative - August 31, 2011
TEGE
· Update and Q&A Session on IRC Section 3402(t) - 3 Percent Withholding - August 18th
· EPCRS : Plan Correction Issues - August 25, 2011
IRS Nationwide Tax Forums - Plan ahead – Here are the locations for the 2011 Forums!
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