IRS News Events from Stakeholder Liaison - 13 November 2009.doc

Practitioner E-mail Group,

 

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

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Newsroom                                                                      November 13, 2009

 

IRS Announces 2010 VITA Grant Recipients

IR-2009-104, Nov. 10, 2009 — The IRS awarded nearly $8 million in matching grants to support its Volunteer Income Tax Assistance program.

 

Nov. 18 Webinar for Tax Professionals Details Benefits of E-File

IR-2009-103, Nov. 10, 2009 — Tax professionals can hear first hand from their colleagues and e-mail questions to the Internal Revenue Service about the benefits of IRS e-file during a free Nov. 18 webinar, “E-file: Building the Case, A Panel Discussion with Tax Professionals.”

 

New Members, Chairman Selected for ETAAC

IR-2009-102, Nov. 9, 2009 — The Internal Revenue Service announced the selection of four new members and a Chairman for the Electronic Tax Administration Advisory Committee (ETAAC). The Treasury Department and the IRS Commissioner have approved the new members to serve a three-year term beginning October 2009 and ending October 2012.

 

H.R. 3548 - Unemployment Compensation Extension Act of 2009

On Friday, November 6, 2009, the President signed into law H.R. 3548, the “Worker, Homeownership, and Business Assistance Act of 2009,” which provides an additional 14 weeks of emergency unemployment compensation (EUC) in all States and six additional weeks of EUC in very high unemployment States; extends the Federal Unemployment Tax Act surtax through June 30, 2011; extends the $8,000 First-Time Homebuyer Tax Credit through April 30, 2010, and provides a $6,500 credit to certain other homebuyers through April 30, 2010; increases from two to five preceding years the period for which businesses can offset net operation losses in 2008 and 2009 against income; and makes certain other changes to Federal unemployment programs and tax laws.

 

Coming Soon to the Modernized e-File (MeF) Program - Individual Returns - 1040 MeF Program (including Form 4868)

IRS is adding the Form 1040, Form 4868, and 21 1040-related forms and schedules to the Modernized e-File (MeF) platform. This initial rollout will feature the most commonly filed forms.

• The Assurance Testing System (ATS) will open November 2, 2009.
• 1040 MeF Production will open on February 17, 2010.

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Technical Guidance

 

New! Compliance Guide for Non-501(c)(3) Tax-Exempt Organizations

In Exempt Organizations' newest compliance guide, Pub. 4221-NC, Compliance Guide for Tax-Exempt Organizations (other than 501(c)(3) Public Charities and Private Foundations), the IRS addresses activities that could jeopardize an organization's exempt status and discusses the general recordkeeping, reporting and disclosure responsibilities that apply to non-501(c)(3) exempt organizations.

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Events

 

National Phone Forums (http://www.irs.gov/businesses/small/article/0,,id=158856,00.html)

·         E-file: Building the Case — A Panel Discussion with Tax Professionals — Webinar (11/18/2009)

 

 

Western Conference on Tax-Exempt Organizations - November 19-20, 2009

At the Sheraton Los Angeles Downtown Hotel in Los Angeles, CA, jointly sponsored by IRS Exempt Organizations and Loyola Law School.

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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.

 

James R. Kinsey

 

Sr Stakeholder Liaison Specialist

Communication, Liaison & Disclosure

SB/SE Division

Work 408-817-6842

Fax 408-817-4601

 

 

 

 

 

 

IRS Electronic Distribution

Practitioner E-mail Group:

 

Practitioner Information :

 

The ARRA 2009 Information Center

 

Where to file for Tax Professionals for use in Calendar year 2010

 

Nationwide Tax Forum Information  (view presentations from past forums) 

 CPE credit is available for some of the Tax Forum Online presentations

 

Tax Practitioner Audio and Video Presentations

 

Tax Information on Donated Property

 

TAX HINTS for TAX PROFESSIONALS

 

Latest News

 

Expanded Recovery Act Tax Credits Help Homeowners Winterize their Homes, Save Energy; Check Tax Credit Certification Before You Buy, IRS Advises
IR-2009-98, Oct. 29, 2009 — People can now weatherize their homes and be rewarded for their efforts. Homeowners making energy-saving improvements this fall can cut their winter heating bills and lower their 2009 tax bill as well.

IRS 2009 IRPAC Report Made Available
IR-2009-97, Oct. 28, 2009 — The Information Reporting Program Advisory Committee (IRPAC) released the advisory group’s 2009 recommendations on a wide range of tax administration issues.

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.

IRS Commissioner Doug Shulman addressed the National Association of Corporate Directors Governance Conference
IR-2009-95, Oct. 19, 2009 — Prepared Remarks of IRS Commissioner Doug Shulman before the 2009 NACD Corporate Governance Conference in Washington, DC.

 

News Releases for October 2009

IRS 2009 IRPAC Report Made Available
IR-2009-97, Oct. 28, 2009 — The Information Reporting Program Advisory Committee (IRPAC) released the advisory group’s 2009 recommendations on a wide range of tax administration issues.

 

2009 Multi-Media Center 

 

Welcome to the resource center for members of the media – online tools and information straight from the source available in both English   and Spanish. Here you’ll find links to a variety of resources and multimedia files to help you report the latest tax news. We have press kits,   news releases and public service advertisements, as well as sound bites, radio spots and more.

 

LEGISLATIVE AFFAIRS: Legislative Update

On Tuesday, October 27^th, Sen. Max Baucus introduced S. 1934, “Foreign Account Tax Compliance Act of 2009,” which would prevent the avoidance of tax on income from assets held abroad.  The bill would strengthen the foreign trust reporting penalty, extend the statute of limitations under Code section 6501(c)(8), and increase the penalty on understatements for undisclosed foreign assets.  S. 1934 was referred to the Senate Committee on Finance.  A companion bill, H.R. 3933, was introduced in the House by Rep. Charles Rangel, and was referred to the House Committee on Ways and Means.

On Thursday, October 29^th, Senate Majority Leader Harry Reid filed a motion to close debate on the Reid/Baucus amendment, and H.R. 3548, “Unemployment Compensation Extension Act of 2009.”  A cloture vote will occur on Monday, November 2^nd.  The Reid/Baucus amendment would extend and expand the first-time homebuyer credit, enhance IRS authority with respect to the first-time homebuyer tax credit, extend and expand the net operating loss carry-back, and increase penalties for taxpayers that fail to timely file partnership and S Corporation returns.  

On Thursday, October 29^th, the House and Senate passed the Conference Report to H.R. 2996, “Department of the Interior, Environment, and Related Agencies Appropriations Act, 2010,” thus clearing the measure for the President.  Included in the Conference Report is a continuing resolution (CR), which funds the Federal government through December 18, 2009, at FY2009 levels.

On Thursday, October 29^th, Rep. John Dingell introduced H.R. 3962, ‘‘Affordable Health Care for America Act,’’ the latest version of a House compromise on healthcare reform.  According to House Majority Leader Steny Hoyer, it is anticipated that a manager’s amendment to H.R. 3962 will be made available on Monday or Tuesday of next week.  The bill will then proceed to the House Committee on Rules and then be brought to the Floor on either Thursday, November 5^th or Friday, November 6^th.

NEXT WEEK IN PREVIEW

On Wednesday, November 4^th, the Senate Committee on Finance will hold a hearing to consider the nominations of Michael Punke, to be Deputy United States Trade Representative, with the rank of Ambassador; Islam Siddiqui, to be Chief Agricultural Negotiator, Office of the United States Trade Representative, with the rank of Ambassador; and Michael Mundaca, to be Assistant Secretary of the Treasury for Tax Policy.  The hearing will take place at 10:00 a.m. in room 215 Dirksen Senate Office Building.

On Thursday, November 5^th, IRS Chief Counsel William Wilkins will testify before the House Committee on Ways and Means Subcommittee on Select Revenue Measures at a hearing on the “Foreign Bank Account Reporting and Tax Compliance.”  The hearing will take place at 10:00 a.m. in room 1100 Longworth House Office Building. 

 If you would like to be discontinued from this listing please e-mail James.R.Kinsey@irs.gov.  Thank you. 

James R. Kinsey

 

Sr Stakeholder Liaison Specialist

Communication, Liaison & Disclosure

SB/SE Division

Work 408-817-6842

Fax 408-817-4601

 

 

 

Correspondence Examinations (Audio, Transcript)

Tax Practitioner Video and Audio Presentations http://www.irs.gov/businesses/small/article/0,,id=201106,00.html

To view the videos, please download the Flash Player if you don't already have it. Audit Techniques Guides (Video, Transcript) Campus Compliance Services – A Dialogue with Practitioners (Video) Canceled Debt (Tax Consequences) (Audio, Transcript) Correspondence Examinations Part 1 of 3 - Elements of the program (Audio, Transcript) Part 2 of 3 - The examination process (Audio, Transcript) Part 3 of 3 - Common questions (Audio, Transcript) Economic Stimulus Package: Section 179 Depreciation (Video, Transcript) Economic Stimulus Package: 50% Special Depreciation (Video, Transcript) Form 2290 Heavy Highway Vehicle Use Tax (Video, Transcript) IRS Collection Process: What are your options? Part 1 of 3 - ARRA: COBRA Premium Assistance (Audio,Transcript) Part 2 of 3 -  Partial Payment Installment Agreements and Form 1099-OID Original Issue Discount Scheme (Audio,Transcript) Part 3 of 3 - Offers in Compromise (Audio,Transcript) IRS Disaster Relief Program IRS Disaster and Emergency Relief - Webinar Archive (Video, Transcript, Presentation slides, Q&A) IRS Disaster and Emergency Relief - Webinar Archive (Spanish) (Video, Transcript,  Presentation slides, Q&A) IRS Submission Processing Pipeline (Video, Transcript) Navigating the IRS (Video, Transcript) Online Fraud and Identity Theft (Audio, Transcript) Outsourcing Payroll Duties (Video, Transcript) Proper Worker Classification (Audio, Transcript) Protecting Federal Tax Information: A Message From The IRS (Video, Transcript) Return Preparer Penalties under IRC 6694, a three-part audio series with resources. Part 1 of 3 - Examination perspective (Audio, Transcript) Part 2 of 3 - Aspects of new legislation (Audio, Transcript) Part 3 of 3 - Final regulations (Audio, Transcript) Small Business Federal Regulatory Fairness Act (SBREFA) (Video, Transcript) Tax Calendar (2009) (Video, Transcript) See the Small Business Video and Audio Presentations page for more.

 

 

 

 

 

James R. Kinsey

 

Sr Stakeholder Liaison Specialist

Communication, Liaison & Disclosure

SB/SE Division

Work 408-817-6842

Fax 408-817-4601

 

 

 

IRS News and Information Oct 23, 2009

Practitioner e-mail group:

 

Here is the latest IRS news and information. Please share with your members and colleagues.   

Select the blue links to see the full article.  

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 Newsroom                                                                          October 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.

 

IRS Commissioner Doug Shulman addressed the National Association of Corporate Directors Governance Conference

IR-2009-95, Oct. 19, 2009 — Prepared Remarks of IRS Commissioner Doug Shulman before the 2009 NACD Corporate Governance Conference in Washington, DC.

 

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

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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

 

Revenue Procedure 2009-50

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.

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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 Las Vegas, NV.  December 8-9 at the Bellagio in Las Vegas.  This Conference is the perfect opportunity for you to get the federal tax updates you need on issues that impact you and your clients. For more information visit the NSCPA's website. 

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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.

 

James R. Kinsey

 

Sr Stakeholder Liaison Specialist

Communication, Liaison & Disclosure

SB/SE Division

Work 408-817-6842

Fax 408-817-4601

IRS News Events from Stakeholder Liaison - 9 October 2009.doc

Practitioner e-mail group:

 

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

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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.

 

Taxpayers Have Until Oct. 15 to File Extended 2008 Tax Returns; Offshore Voluntary Disclosures Also Due

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.

 

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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 The Electronic Management System located at  Martinsburg,  West Virginia will not be available from:    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

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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.

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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

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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

 

Two phone forums now online

Audio reenactments of the national phone forums, IRS Collection Process and Online Fraud and Identity Theft are now on IRS.gov.

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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.

 

 

James R. Kinsey

 

Sr Stakeholder Liaison Specialist

Communication, Liaison & Disclosure

SB/SE Division

Work 408-817-6842

Fax 408-817-4601