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Attached is, IRS News and Events from Stakeholder Liaison.
IRS News and Events from Stakeholder Liaison - Please share with your members and colleagues. Select the blue links to see the full article.
What to Watch: IRS videos:
Featured video: Reminders for Extension Filers
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| If you asked for an extension to file your tax return, remember that the deadline is mid-October. Learn more at IRS.gov |
Security
Protect Your Clients; Protect Yourself
IRS and Security Summit Partners Warn of Fake Tax Bill Emails
IR-2016-123, Sept. 22, 2016 — The IRS and its Security Summit partners today issued an alert to taxpayers and tax professionals to be on guard against fake emails purporting to contain an IRS tax bill related to the Affordable Care Act
Important Update for Your e-services Account
Starting late October – October 24 is the target date – e-services users will be required to re-register using the Secure Access authentication process. Users must validate their identities through this process before they can access their accounts.
Secure Access: How to Register for Certain Online Self-Help Tools
To better protect taxpayers, the IRS recently upgraded its identity verification process for certain online self-help tools. The purpose is to prevent taxpayer impersonations and account takeovers by identity thieves. Because the Secure Access Authentication platform is more rigorous, it helps if you prepare to register in advance.
Helpful Publications
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General News
IRS Urges Employers to Take Advantage of Expanded Work Opportunity Tax Credit; Employers Have until Sept. 28 to Request Certification for Many New Hires
IR-2016-122, Sept. 20, 2016 — With a key certification deadline fast approaching, the IRS today urged employers to take advantage of a valuable tax credit designed to help those who hire long-term unemployment recipients and workers who face significant barriers to employment.
IRS Has a Reminder for Extension Filers: Prior-Year Adjusted Gross Income Amount May Be Needed to File Electronically
IR-2016-124, Sept. 22, 2016 — The IRS has an important reminder for taxpayers who filed for an extension and face an Oct. 17 filing deadline: the adjusted gross income (AGI) amount from your 2014 return may be needed to electronically file a tax return.
New ITIN Acceptance Agent Program Changes
The IRS has updated procedures that affect the Individual Taxpayer Identification Number (ITIN) application process. Taxpayers and their representatives should review these changes identified below before requesting an ITIN:
Electronically Submit Your Form 8976, Notice of Intent to Operate Under Section 501(c)(4)
New legislation enacted at the end of 2015 added Section 506 to the Internal Revenue Code. Section 506 requires an organization to notify the IRS of its intent to operate as a Section 501(c)(4) organization. The IRS has developed a new form – Form 8976 – that organizations should use to provide this notification.
Whistleblower - Informant Award
The IRS Whistleblower Office pays money to people who blow the whistle on persons who fail to pay the tax that they owe. If the IRS uses information provided by the whistleblower, it can award the whistleblower up to 30 percent of the additional tax, penalty and other amounts it collects.
· Publication 5251 – Whistleblower Claim Process
IRS Continues Comprehensive Assessment of the CAP Program
LB&I is in the process of assessing all three phases of the Compliance Assurance Process (CAP) program. The three phases are CAP, Pre-CAP and Compliance Maintenance. The assessment will include input from both internal and external stakeholders to determine if any changes are needed to the program.
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Affordable Care Act
ACA Information Center for Tax Professionals
Health Care Tax Tips
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Technical Guidance
T.D. 9783 Modifications to Minimum Present Value Requirements for Partial Annuity Distribution Options under Defined Benefit Pension Plans
These regulations are effective on September 9, 2016.
T.D. 9785 Definition of Terms Relating to Marital Status
These regulations are effective on September 2, 2016.
Announcement 2016-32 requests comments on ways in which Treasury and the IRS can facilitate compliance with the qualification requirements for qualified plan documents in light of the changes to the determination letter program described in Rev. Proc. 2016-37. Comments may be submitted in writing on or before December 15, 2016.
Notice 2016-57 extends the temporary nondiscrimination relief for closed defined benefit plans provided in Notice 2014-5, 2014-2 I.R.B. 276, through 2017.
Notice 2016-55 provides guidance for income and employment tax purposes on the treatment of cash payments made by employers under leave-based donation programs for the relief of victims of the Louisiana storms.
Notice 2016-52 provides guidance relating to certain transactions, undertaken in anticipation of foreign-initiated income tax adjustments, which will be considered foreign tax credit splitter arrangements under section 909.
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Events
Webinars for Tax Practitioners
· Now available on Demand! - Protect your Clients: Protect Yourself from Data Theft
Practitioner Local Liaison Meetings and Seminars
The IRS Small Business/Self-Employed Stakeholder Liaison Office offers periodic local liaison meetings and seminars for the tax professional community. These sessions are designed to share important information about IRS programs and issues with tax professionals
Tax Exempt & Government Entities
· Available on Demand! – Government Information Letter
· Online educational programs available anytime at www.stayexempt.irs.gov
Webinars for Businesses
· IRS Focus Series: Identity Theft and Phishing Scams – September 27, 2016
California Workshops for Small Business Owners
Please share these links with your small business clients. The workshops provide detailed instructional lessons that cover their tax filing, paying and operating requirements and responsibilities
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Have a great day, and a wonderful weekend!
Jennifer Henrie-Brown, ID #1000247447
Stakeholder Liaison Specialist
Communications Stakeholder Outreach
Work cell phone: 510-926-0175
Jennifer.Henrie-Brown@irs.gov
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