etrent17/irs-articles huggingface dataset:
IR-2010-61, May 13, 2010
WASHINGTON – The Internal Revenue Service today announced the selection of four new members to the Advisory Committee on Tax Exempt and Government Entities (ACT) for the term starting in 2010 and ending in 2012.
The ACT is a formal body consisting of external stakeholders who represent employee retirement plans, tax-exempt organizations, tax-exempt bonds and federal, state, local and Indian tribal governments.
“ACT members provide valuable feedback and insight on a wide variety of issues related to tax-exempt organizations and governmental entities,” said IRS Commissioner Doug Shulman.
ACT members generally serve a two-year term with a possible one-year extension. The four new participants will join 17 returning members in 2010.
The new members are:
Employee Plans
David N. Levine, Washington, D.C. Levine is a principal at Groom Law Group, Chartered, where he provides advice about employee benefit plans to tax-exempt, for-profit and governmental entities. Levine also advises plan sponsors and service providers on technical plan design and other issues. He has served as the Vice Chair of the Legislative Subcommittee of the American Bar Association Tax Section’s Employee Benefits Committee. Levine received a J.D. from the University of Pennsylvania Law School.
Adam C. Pozek, Reading, Mass. Pozek is Vice President, Consulting Services, for Sentinel Benefits & Financial Group. He gives technical advice on defined contribution and defined benefits plans, including providing assistance with plan design, due diligence in merger and acquisition transactions and corrections under several voluntary correction programs operated by the IRS. Pozek is active in the American Society of Pension Professionals and Actuaries, where he serves on the board of directors. Pozek studied accounting and finance at Georgia State University and holds professional credentials from the American Society of Pension Professionals and Actuaries, including Qualified Pension Administrator and Qualified Plan Financial Consultant.
Exempt Organizations
Karen A. Gries, Minneapolis, Minn. Gries is a principal with LarsonAllen LLP.  She serves a wide variety of tax-exempt organizations, including charities, social welfare organizations, business leagues and associations, credit unions, health care providers and religious organizations.  Gries provides a broad range of services, including planning and reporting of unrelated business income, intermediate-sanction analysis and application and corporate compliance review.   Gries is a graduate of Nettleton
College in South Dakota.
Celia Roady, Washington D.C.  Roady is a partner in Morgan Lewis & Bockius, LLP, where she works on a wide range of issues affecting public charities, private foundations and other categories of tax-exempt organizations. Among other entities, she represents colleges and universities, museums, private and operating foundations, scholarship organizations and disaster relief organizations. Roady received her J.D. from the Duke University School of Law and her LL.M. from the Georgetown University Law Center.
Subscribe to IRS Newswire
Reminder: Small tax-exempts can meet the May 17 deadline by electronically filing Form 990-N, or e-Postcard.
IR-2010-59, May 7, 2010
WASHINGTON — A crucial filing deadline of May 17 is looming for many tax-exempt organizations that are required by law to file their Form 990 with the Internal Revenue Service or risk having their federal tax-exempt status revoked.
The Pension Protection Act of 2006 mandates that all non-profit organizations, other than churches and church related organizations, must file an information form with the IRS.  This requirement has been in effect since the beginning of 2007, which made 2009 the third consecutive year under the new law. Any organization that fails to file for three consecutive years automatically loses its federal tax-exempt status.
Form 990-series information returns are due on the 15th day of the fifth month after an organization’s fiscal year ends. Many organizations use the calendar year as their fiscal year, which makes May 15 the deadline for those tax-exempt organizations. May 15 falls on a Saturday this year so the deadline this year is actually Monday, May 17.  Organizations can request an extension of their filing date by filing Form 8868 by the original due date. Absent a request for extension, there is no grace period from filing by the original due date.
Small tax-exempt organizations with annual receipts of $25,000 or less can file an electronic notice Form 990-N (e-Postcard). This asks for a few basic pieces of information. Tax-exempts with annual receipts above $25,000 must file a Form 990 or 990-EZ, depending on their annual receipts. Private foundations file form 990-PF.
Any tax-exempt organization that has not filed the required form in the last three years automatically will lose its tax exempt status effective as of the due date of the annual filing. Under the law, the IRS does not have discretion in this matter.
A list of revoked organizations will be available to the public on IRS.gov.
If an organization loses its exemption, it will have to reapply with the IRS to regain its tax-exempt status. Any income received between the revocation date and renewed exemption may be taxable.
For more information, see the Exempt Organizations: Status Revoked for not Filing Annual Returns or Notices page on this website; or the ABC's for Exempt Organizations page.
Subscribe to IRS Newswire
IR-2010-58, May 7, 2010
WASHINGTON — The Internal Revenue Service today released an interim reportPDF summarizing responses to compliance questionnaires sent to 400 public and private colleges and universities in October 2008. Colleges and universities make up one of the largest nonprofit segments in terms of revenue and assets.
The interim report contains preliminary information on the respondents’ organizational structures, demographics, exempt and unrelated business activities, endowments, executive compensation as well as governance practices. Respondents are divided into three groups based on size of student population.
“This compliance project, like our previous one on nonprofit hospitals, gives us a lot of valuable information on activities conducted by those organizations that will help us in our enforcement and services efforts,” said Lois Lerner, Director of the IRS Exempt Organizations.  “Our findings will be reported in a final report after we have completed our analysis of all of the data.”
The IRS continues to analyze the data. Responses to most questions are included in the interim report. Responses to certain questions are not included because the IRS has not yet completed compiling the information.  Additional information will be included in a final report.
The IRS has opened examinations of more than 30 organizations that were selected based on responses to the questionnaire. These examinations focus primarily on unrelated business income and executive compensation issues.  A summary of findings and information learned from the examinations will also be included in the final report.
Subscribe to IRS Newswire
IR-2010-57, May 5, 2010
WASHINGTON — The Internal Revenue Service has accepted an offer of consent to suspension from bond attorney Michael W. McCall. Under the terms of the settlement agreement, McCall will be suspended from practice before the IRS for at least 24 months for writing a false tax opinion. Thereafter, he may petition for reinstatement.
“Practitioners have a duty to their clients, the system, and the municipal finance bond community to ensure that the tax advice they are giving their clients complies with the law and is complete and accurate,” IRS Office of Professional Responsibility (OPR) Director Karen L. Hawkins said.
McCall was engaged by a state of Washington county municipal sewer district to act as co-bond counsel and special tax counsel to write an opinion as to the tax-exempt status of the district bonds issued in October 2000 and to perform due diligence with respect to certain transactional matters relating to the bond issuance. The district issued the bonds for its utility local improvement district for a proposed commercial development. The bonds were issued in violation of state law as the utility local improvement district was located outside of the sewer district boundaries.  The bonds defaulted and have been determined to be invalid.
The OPR alleged that McCall’s opinion on the tax-exempt status of the district bonds was false under Circular 230, Section 10.51(j), and that McCall's opinion on certain transactional matters was also false under Section 10.51(j).  In addition, the OPR alleged that McCall failed to perform due diligence under Circular 230, section 10.22, with respect to transactional matters related to the bond issuance, including an undisclosed payment to him from bond proceeds received by the developer.
Following an OPR investigation, McCall admitted to violations of Circular 230 for giving false opinions, knowingly, recklessly, or through gross incompetence (Treasury Department Circular 230, Section 10.51(j) (2000)), and for failing to exercise due diligence (Treasury Department Circular 230, Section 10.22 (2000)).
 
The settlement agreement included a disclosure authorization that allowed the IRS to issue this release.
 
 
Subscribe to IRS Newswire
IR-2010-56, May 3, 2010
WASHINGTON — The Internal Revenue Service today announced it is accepting applications for new members for the Internal Revenue Service Advisory Council (IRSAC), which provides a forum for IRS officials to discuss key areas of tax administration with a broad range of tax and other relevant professionals.
“Members of IRSAC provide the IRS with important feedback from a wide range of professionals dealing with many different aspects of our tax system,” said Doug Shulman, IRS Commissioner. “IRSAC members are doing their part to support sound tax administration.”
IRSAC has about 20 open seats for three-year terms starting in January 2011. IRSAC can have up to 35 members and submits a report to the IRS Commissioner annually at a public meeting in the fall. Applications will be accepted from May 3 to June 18, 2010.
Nominations of qualified individuals may come from individuals or organizations.  Federally registered lobbyists cannot be members of the IRSAC. IRSAC members are drawn from diverse backgrounds. Membership is balanced to represent the tax professional community, including tax attorneys, certified public accountants, enrolled agents, enrolled actuaries, appraisers, and the business community, among others.
Nominations should describe and document the proposed member’s qualification for IRSAC membership, including the applicant’s knowledge of Circular 230 regulations and the applicant’s past or current affiliations, as well as dealings with the particular tax segment or segments of the community that the applicant wishes to represent on the council.
More information, including application requirements, is available on the Tax Professional’s Page on IRS.gov. Questions about the application process can be sent to the following e-mail address:  *public_liaison@irs.gov.
 
Subscribe to IRS Newswire
IR-2010-55, May 3, 2010
WASHINGTON — The Internal Revenue Service will host a special nationwide Open House on Saturday May 15 to help small businesses and individuals solve tax problems.
Approximately 200 IRS offices, at least one in every state, will be open May 15 from 9 a.m. to 2 p.m. local time. IRS staff will be available on site or by telephone to help taxpayers work through their problems and walk out with solutions.
“Our goal is to resolve issues on the spot so small businesses and individuals can put any issues they have with the IRS behind them,” IRS Commissioner Doug Shulman said. “If you have a problem filing or paying your taxes or resolving a tough tax issue, we encourage you to come in and work with us.”
IRS locations will be equipped to handle issues involving notices and payments, return preparation, audits and a variety of other issues. At a previous IRS Open House on March 27, approximately two-thirds of taxpayers requested and received assistance with payments and notices.
So, for example, a taxpayer who cannot pay a tax balance due can discuss with an IRS professional whether an installment agreement is appropriate and, if so, fill out the paperwork then and there. Assistance with offers-in-compromise will also be available. Likewise, a taxpayer struggling to complete a certain IRS form or schedule can work directly with IRS staff to get the job done.
At the March 27 Open House, 88 percent of the taxpayers who came in for help had their issues resolved the same day.
Locations for the May 15 Open House are listed here.
The Open House on May 15 is the first of three events scheduled through the end of June. The next two are planned for Saturday June 5 and Saturday June 26. Details regarding those events will be available soon.
Subscribe to IRS Newswire
IR-2010-77, June 21, 2010
WASHINGTON — The Internal Revenue Service is providing administrative relief for sponsors of defined contribution plans, such as section 401(k) plans, that were affected by the storms and other severe weather in those counties in Alabama, Connecticut, Massachusetts, Mississippi, New Jersey, Rhode Island, Tennessee and West Virginia declared Presidential Disaster Areas during the period from March 1 through May 31, 2010.
Notice 2010-48PDF administratively extends to July 30, 2010, the April 30 deadline for restating affected pre-approved defined contribution plans and, if applicable, for submitting determination letters to the IRS, to July 30, 2010. The section 401(b) remedial amendment period for these retirement plans is also extended to July 30.
The relief provided by this notice is in addition to the statutory relief already provided by the IRS, under section 7508A of the Internal Revenue Code, to taxpayers affected by the federally declared disasters in these eight states during the period from March through May 2010.
The notice details the scope of the relief provided by this administrative action and further defines the conditions under which a plan qualifies as an affected plan. A plan is an “affected plan” only if any of the following locations relating to the plan were in the federally declared disaster areas at the time of the disasters:
The principal place of business of the employer that maintains the plan;
The principal place of business of the employer that employs more than 50 percent of the active participants covered by the plan;
The office of the plan or the plan administrator;
The office of the primary record keeper serving the plan; or
The office of any advisor that had been retained by the plan or the employer at the time of the storms or other severe weather that is directly involved with the adoption of the plan or the submission of a determination letter application to the IRS.
This relief applies to the following disaster situations:
Connecticut victims of March 2010 severe storms and flooding. See, News Release CT-2010-35, June 1, 2010.
Tennessee victims of April-May 2010 severe storms and flooding. See, News Release AL/TN-2010-56T, May 5, 2010.
Alabama victims of April 2010 severe storms and flooding. See, News Release AL/TN-2010-55A, May 4, 2010.
Mississippi victims of April 2010 severe storms, tornadoes and flooding. See, News Release LA/MS-2010-21, April 30, 2010.
New Jersey victims of March 2010 storms and flooding. See, News Release NJ-2010-32, April 5, 2010.
Massachusetts victims of March storms and flooding. See, News Release MA-2010-15, March 31, 2010.
Rhode Island victims of March storms and flooding. See, News Release RI-2010-11, March 31, 2010.
West Virginia victims of March storms and flooding. See, News Release WVA-2010-12, March 31, 2010.
WASHINGTON — The Internal Revenue Service today announced that small firms may now begin applying for certification for tax credits or grants available under the Qualifying Therapeutic Discovery Project Program, created by the Affordable Care Act.
These credits or grants are available for projects that show significant potential to produce new cost-saving therapies, create U.S. jobs, and increase U.S. competitiveness.
Form 8942PDF, Application for Certification of Qualified Investments Eligible for Credits and Grants Under the Qualifying Therapeutic Discovery Project Program, and its instructionsPDF are now available. Companies may submit applications for certification beginning today. Applications must be postmarked no later than July 21, 2010.
“This new tax credit was designed to promote medical research that could improve health and save lives," IRS Commissioner Doug Shulman said. "I encourage companies that are involved in this groundbreaking type of work to apply."‬‪
The qualifying therapeutic discovery project program is targeted to projects that show potential to produce new therapies, reduce long-term health care costs, or significantly advance the goal of curing cancer within the next 30 years.
The credit or grant covers up to 50 percent of the cost of qualifying biomedical research, up to a maximum credit of $5 million per firm and $1 billion overall, and is only available to firms with no more than 250 employees. Credits and grants are available for investments made in 2009 and 2010.
As part of the review process for research projects, the Department of Health and Human Services (HHS) will evaluate each project for its potential to produce new therapies, reduce long-term health care costs or cure cancer within 30 years. Only projects that show a reasonable potential to meet these goals will be certified as eligible for the credit or grant.
The IRS will issue certifications by the end of October, based on the determinations made by HHS. More information, including questions and answers on this program, can be found on the Affordable Care Act page.
IR-2010-75, June 18, 2010
WASHINGTON — The Electronic Tax Administration Advisory Committee (ETAAC) this month presented its 2010 Annual Report to Congress. The ETAAC provides feedback on the development and implementation of the Internal Revenue Service’s electronic tax administration strategy.
The report includes recommendations to further expand the use of electronic filing. The report recommends the IRS use a three-year phase-in approach to successfully implement the tax preparer requirement to electronically file individual tax returns. The report also calls for continued funding and completion of the modernization of IRS systems as well as collaboration between the IRS and industry regarding tax software standards and the implementation of the return preparer regulations.
“ETAAC plays a significant role in IRS efforts to improve the taxpayer’s experience via e-file and the Internet,” said David Williams, director of Electronic Tax Administration. “The IRS appreciates ETAAC’s recommendations, which we will consider as we plan our strategy for electronic tax administration.”
The 13-member panel provides an organized public forum for discussion of electronic tax administration issues and the overriding goal that paperless filing should be the preferred and most-convenient method of filing tax and information returns.
“ETAAC believes a fully e-enabled IRS is critical to meeting the overarching e-file goal and enhancing tax administration,” said Phil Poirier, ETAAC Chairman.
ETAAC submits an annual progress report to Congress each June. The IRS Electronic Tax Administration created the ETAAC in 1998 as required by the IRS Restructuring and Reform Act of 1998. The report is the result of research and analysis as well as meetings with senior IRS executives.
Public comments on the report may be sent to etaac@irs.gov .
Subscribe to IRS Newswire
Updated with additional links.
Video: Exception to Tanning Excise Tax: English| ASL (Obsolete)
IR-2010-73, June 11, 2010
WASHINGTON — The Internal Revenue Service today issued regulations outlining the administration of a 10-percent excise tax on indoor tanning services that goes into effect on July 1.
The regulationsPDF were published today in the Federal Register.
In general, providers of indoor tanning services will collect the tax at the time the purchaser pays for the tanning services. The provider then pays over these amounts to the government, quarterly, along with IRS Form 720, Quarterly Federal Excise Tax Return.
The tax does not apply to phototherapy services performed by a licensed medical professional on his or her premises. The regulations also provide an exception for certain physical fitness facilities that offer tanning as an incidental service to members without a separately identifiable fee.
The IRS and Treasury Department invite comments.
Send submissions to: CC:PA:LPD:PR (REG-112841-10), Room 5203, Internal Revenue Service, PO Box 7604, Ben Franklin Station, Washington, DC 20044.
Submissions may be hand-delivered to: CC:PA:LPD:PR Monday through Friday between the hours of 8 a.m. and 4 p.m. to: CC:PA:LPD:PR (REG-112841-10), Courier’s Desk, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC.
Submissions may be sent electronically via the Federal eRulemaking Portal at www.regulations.gov (REG-112841-10).
Related Items:
Questions and answers on the indoor tanning service excise tax
Affordable Care Act Tax Provisions
Subscribe to IRS Newswire
IR-2010-71, June 3, 2010
WASHINGTON — The Internal Revenue Service will once again host a special nationwide open house on Saturday, June 5 to help taxpayers solve tax problems and respond to notices from the IRS.
Approximately 200 IRS offices, at least one in every state, will be open June 5 from 9 a.m. to 2 p.m. local time. IRS staff will be available on site or by telephone to help taxpayers work through their problems –– especially recently received tax notices –– and walk out with solutions.
“We’ve helped thousands of taxpayers resolve their problems the same day at these open houses,” IRS Commissioner Doug Shulman said. “If you have a question regarding a notice, a problem with your taxes or difficulty resolving a tough tax issue, we encourage you to come in and work with us.”
IRS locations will be equipped to handle issues involving notices and payments, return preparation, audits and a variety of other issues. At a previous IRS open house on May 15, close to 7,000 taxpayers sought and received assistance. About 97 percent of the taxpayers who came in for help had their issues resolved the same day.
At the June 5 open house, someone who has received a notice seeking additional information can speak with an IRS employee to get a clear explanation of what is necessary to satisfy the request. A taxpayer who cannot pay a tax balance due can discuss with an IRS professional whether an installment agreement is appropriate and, if so, fill out the paperwork then and there. Assistance with offers-in-compromise — an agreement between a taxpayer and the IRS that settles the taxpayer’s debt for less than the full amount owed — will also be available. Likewise, a taxpayer struggling to complete a certain IRS form or schedule can work directly with IRS staff to get the job done.
The open house on June 5 is the second of three events scheduled after tax season this year. The first was held on May 15. The next event, previously scheduled for Saturday June 26, will be held later this fall. Details regarding that event will be available later.
IR-2010-70, June 1, 2010
WASHINGTON — The Internal Revenue Service will debut its latest educational program for tax professionals, the webinar IRS Live, on June 9, 2 p.m. ET. The topic is “New Requirements for Tax Return Preparers – Learn the Who, What, When and How.”
IRS Live’s hour-long programming will feature IRS and industry experts, and cover tax-related topics.
In the June 9 broadcast, tax professionals will learn about the new requirements for paid return preparers, including:
Preparer Tax Identification Numbers
Competency testing
Preparer tax compliance verification checks
E-file mandate
The broadcast will be a good opportunity for return preparers to learn about upcoming requirements and get the latest information from the lead IRS executive.
Panelists for the June program are David R. Williams, executive lead for Return Preparer Regulations Implementation, IRS; Conrad Davis, Ueltzen & Company LLP; and Bill Parrish, Private Practice Group, LLC.
IRS Live is the newest addition to IRS’s suite of outreach delivery venues and is aimed at educating tax professionals on the most current and complex tax issues affecting them and their clients. Tax professionals are encouraged to watch the free program and submit questions by e-mail during the webinar.
Viewers can register online via IRS.gov. Tax professionals who need continuing education credits are eligible to receive a Certificate of Completion, often equal to one CPE credit, by registering and viewing the June 9, webinar.
Also as a part of its outreach delivery suite, IRS offers National Phone Forums and other webinars and video and audio presentations on a variety of tax topics. All are free.
Tax professionals are also encouraged to subscribe to IRS’s newsletter; e-News for Tax Professionals. It's one of the best ways for the tax professional community to get the latest national and local IRS news.
IRS Nationwide Tax Forums
Tax professionals can learn more about new federal requirements of paid tax return preparers by attending one of six tax forums this summer around the country hosted by the IRS.
The IRS Nationwide Tax Forums are three-day events that provide tax professionals with the most up-to-date information on federal and state tax issues presented by IRS experts and partner organizations. The forums offer an opportunity to receive up to 18 continuing education credits through a variety of training seminars and workshops.
 
Subscribe to IRS Newswire
IR-2010-86, July 22, 2010
WASHINGTON — The Internal Revenue Service today released proposed regulations that would establish a fee for individuals who apply for a preparer tax identification number (PTIN). Proposed regulations that were issued in March would require certain tax return preparers to obtain a PTIN. The IRS is working to finalize those proposed regulations, which are the first of a series of steps planned to increase oversight of federal tax return preparation.
The proposed regulations (REG-139343-08) would establish a fee of $50, payable to the IRS, to cover technology costs, as well as compliance and outreach efforts associated with the new PTIN program. The proposed regulations would also provide for an additional fee (expected to be substantially lower than $50) to be charged by the third-party vendor chosen to operate the new online system. That fee amount is expected to be announced soon, as well as additional details about the launch of a new online application system. These fees could change in future years as program costs are reevaluated.
Agencies are directed by the Office of Management and Budget (OMB) to charge user fees to recover the cost of services that convey special benefits beyond those available to the general public, such as the authority to prepare federal tax returns for compensation.
Tax professionals and other interested parties have until Aug. 23, 2010, to submit comments regarding the proposed regulations. The official publication date of these proposed regulations is July 23.
In January, IRS Commissioner Doug Shulman announced the results of a comprehensive six-month studyPDF of the tax return preparer industry, which proposed new registration, testing, and continuing education of tax return preparers. With more than 80 percent of American households using a tax preparer or tax software to help them prepare and file their taxes, higher standards for the tax return preparer community will significantly enhance protections and service for taxpayers, increase confidence in the tax system and result in greater compliance with tax laws over the long term.
How to Learn More
The IRS recently broadcast the topic “New Requirements for Tax Return Preparers – Learn the Who, What, When and How” on the webinar IRS Live, an educational program for tax professionals. View the archive on IRS.gov.
Tax professionals can also learn more by attending one of six tax forums this summer around the country hosted by the IRS.  The IRS Nationwide Tax Forums are three-day events that provide tax professionals with the most up-to-date information on federal and state tax issues. Also for more information see a special page on this web site.
Subscribe to IRS Newswire
IR-2010-85, July 14, 2010
WASHINGTON — The Internal Revenue Service announced the locations of Taxpayer Assistance Centers in seven Gulf Coast cities that will be open this Saturday, July 17 to provide help to taxpayers impacted by the BP oil spill.
The following locations will be open from 9 a.m. to 2 p.m. Central Time:
1110 Montlimar Drive, Mobile, Ala.
651-F West 14th St., Panama City, Fla.
7180 9th Ave. North, Pensacola, Fla.
2600 Citiplace Centre, Baton Rouge, La.
423 Lafayette St., Houma, La.
1555 Poydras Street, New Orleans, La.  
11309 Old Highway 49, Gulfport, Miss.
Individuals who have questions about the tax treatment of BP claims payments or who are experiencing filing or payment hardships because of the oil spill will be able to work directly with IRS personnel at any of these locations on Saturday.
Last week, the IRS announced the opening of a dedicated phone line for victims of the Gulf oil spill –– 866-562-5227. This special toll-free line is open weekdays from 7 a.m. to 10 p.m. and will also be open to callers on Saturday, July 17 from 9 a.m. to 2 p.m. Central Time.
In certain cases, IRS staff can assist oil spill victims by suspending collection and examination actions. Taxpayers who need this assistance must request it. Others may decide to continue making payments because interest will continue to accrue on outstanding balances, even if some penalties are abated.
In addition to postponing collection actions, the IRS continues to have a number of other ways to help taxpayers deal with oil spill issues or other economic hardships, including:
Added flexibility for missed payments on installment agreements and offers in compromise for previously compliant individuals.
Consideration of a taxpayer’s current income and potential for future income when negotiating an offer in compromise.
Accelerated levy releases.
Assistance of the Taxpayer Advocate Service for those experiencing economic harm and seeking help resolving tax problems that have not been resolved through normal channels.
For More Information
For further information, including the tax treatment of BP compensation payments, see questions & answers about the Gulf oil spill. Taxpayers are also encouraged to visit DisasterAssistance.gov and RestoretheGulf.gov, which have information on assistance for Gulf oil spill victims.
Related Items:
Gulf Oil Spill Information Center
News release IR-2010-85, IRS Announces Opening Times, Addresses for July 17 Special Assistance Day for Gulf Oil Spill Victims
News release IR-2010-84, IRS Opens Dedicated Phone Line for Gulf Oil Spill Victims
News release IR-2010-78, IRS Provides Tax Help, Guidance to Gulf Oil Spill Victims; Special Assistance Day Planned for July 17
News release IR-2010-29, IRS Outlines Additional Steps to Assist Unemployed Taxpayers and Others
IRS Publication 4873, The Gulf Oil Spill and Your Taxes (obsolete)
IRS Publication 4873-A, Gulf Oil Spill: Questions and Answers (obsolete)
IRS Publication 547PDF, Casualties, Disasters, and Thefts
IRS Publication 584PDF, Casualties, Disasters, and Theft Loss Workbook
IR-2010-84, July 9, 2010
WASHINGTON — The Internal Revenue Service today announced the opening of a special telephone line for taxpayers affected by the Gulf oil spill.
Individuals who have questions about the BP payments or who are experiencing filing or payment hardships because of the oil spill should contact the IRS at 866-562-5227.
The special services phone line will operate weekdays from 7 a.m. to 10 p.m. local time.
In certain cases, the IRS can assist oil spill victims by suspending collection and examination actions. Taxpayers who need this assistance must request it. Others may decide to continue making payments because interest will continue to accrue on outstanding balances, even if some penalties are abated.
In addition to postponing collection actions, the IRS continues to have a number of other ways to help taxpayers deal with oil spill issues or other economic hardships, including:
Added flexibility for missed payments on installment agreements and offers in compromise for previously compliant individuals.
Consideration of a taxpayer’s current income and potential for future income when negotiating an offer in compromise.
Accelerated levy releases.
Assistance of the Taxpayer Advocate Service for those experiencing economic harm and seeking help resolving tax problems that have not been resolved through normal channels.
Special Assistance on July 17 at Gulf Coast Offices
In addition to the new telephone line, the IRS will conduct a special assistance day on July 17 for oil spill victims in seven cities. Taxpayers and tax preparers will be able to work directly with IRS employees to resolve tax issues, including specific topics related to the oil spill. The IRS will hold the Gulf Coast Assistance Day in the following cities:
Mobile, Ala.
Panama City and Pensacola, Fla.
New Orleans, Houma and Baton Rouge, La.
Gulfport, Miss.
Times and addresses will be announced soon.
Taxpayers are also encouraged to visit DisasterAssistance.gov, which has information on assistance for Gulf oil spill victims.
Related Items:
News release IR-2010-85, IRS Announces Opening Times, Addresses for July 17 Special Assistance Day for Gulf Oil Spill Victims
News release IR-2010-84, IRS Opens Dedicated Phone Line for Gulf Oil Spill Victims
News release IR-2010-78, IRS Provides Tax Help, Guidance to Gulf Oil Spill Victims; Special Assistance Day Planned for July 17
News release IR-2010-29, IRS Outlines Additional Steps to Assist Unemployed Taxpayers and Others
IRS Publication 4873, The Gulf Oil Spill and Your Taxes (obsolete)
IRS Publication 4873-A, Gulf Oil Spill: Questions and Answers (obsolete)
IRS Publication 547PDF, Casualties, Disasters, and Thefts
IRS Publication 584PDF, Casualties, Disasters, and Theft Loss Workbook
IR-2010-82, July 6, 2010
WASHINGTON — The Office of Professional Responsibility (OPR) has prevailed in an agency appeal involving issues which include the due diligence responsibilities of a CPA under the Rules of Practice before the IRS (Circular 230).  The May 28th decision of the Appellate Authority has upheld the Administrative Law Judge’s (“ALJ”) disbarment of CPA Tim W. Kaskey finding, among other things, that Kaskey failed to exercise due diligence in preparing tax returns for a corporation and its husband and wife shareholders.  
“This is yet another decision highlighting that practitioners have a duty to the system as well as to their clients. Practitioners who do not take this duty seriously can expect to be held accountable,” said Office of Professional Responsibility (OPR) Director Karen L. Hawkins said.
Kaskey is a CPA and tax advisor who also prepared individual and corporate tax returns. 
OPR alleged that Kaskey failed to exercise due diligence under Circular 230, section 10.22 when he failed to determine the correctness of the representations he made to the IRS on the tax returns ofa corporation and its married shareholders.  OPR also alleged that Kaskey’s misconduct included a failure to comply with the requirement to advise clients of potential penalties and any opportunities to avoid such penalties by disclosure contained in Circular 230, former section 10.34(b) (now section 10.34(c)).
When Kaskey failed to respond, or appear, at the administrative proceeding, the ALJ deemed the allegations against Kaskey admitted and entered a default judgment for disbarment.  Kaskey appealed. On review, the Treasury Appellate Authority agreed that disbarment was proper.  Kaskey defended against the due diligence allegations by arguing that his clients had misrepresented their income to him. The Appellate Authority observed that there was “a great deal of evidence reflecting the lack of due diligence by [Kaskey] in the preparation of these returns…[and that] “it was inconceivable that [the individual taxpayers] could pay their living expenses based on the income reported on their returns.”
“Practitioners who think OPR isn’t serious about due diligence should take heed,” added OPR Director Hawkins.  “Practitioners may not ignore the implications of information already known, and must make reasonable inquiries if the information furnished by a client appears to be incorrect, inconsistent, or incomplete.”
The Appellate Authority’s and ALJ’s opinions are available on the IRS Website; search “OPR.”
Subscribe to IRS Newswire
IR-2010-81, July 6, 2010
WASHINGTON — The Internal Revenue Service today announced the availability of a new job search tool on YouTube dedicated to helping job seekers learn about employment opportunities at the IRS.
"Whether you're a veteran or a recent college graduate, the IRS is a great place to work and build a career. The IRS has a wide range of jobs and needs a variety of skills to serve the nation's taxpayers,” said IRS Commissioner Doug Shulman. “Our goal is to make the IRS the best place to work in government."
As many recent high school and college graduates actively seek employment, the IRS’s new YouTube playlist, Working at the IRS, provides information about various career paths available throughout the nation’s tax administration agency. The playlist features “Day in the Life” videos in which IRS employees discuss their jobs, the diversity of the IRS workforce and the culture of the agency.
“This is a great opportunity for new graduates and applicants to explore employment with the IRS and join a dedicated workforce serving our nation’s taxpayers,” IRS Chief Human Capital Officer James Falcone said. “Potential applicants can learn a lot from a job description. But showcasing our talented employees on YouTube gives applicants first-hand insight into whether or not they would be a good fit for a particular position.”
The IRS has more than 100,000 full-time and seasonal employees and hires new employees throughout the year to fill a wide array of positions, including revenue agents, revenue officers, criminal investigation special agents, financial analysts and economists.
The YouTube playlist complements numerous other videos currently available on the IRS YouTube channel ( IRSvideos). IRS videos provide tax tips for individuals and businesses and information about new credits, deductions and changes in tax law, including tax provisions pertaining to Recovery and health care. The IRS has also posted videos in American Sign Language ( IRSvideosASL) and Spanish ( IRSvideosmultilingual ).
New IRS Careers Website
In addition to the new YouTube playlist, the IRS Human Capital Office recently launched a new and improved IRS Careers Website with more detailed information on job openings, how to apply for new positions, what qualifications are needed in potential candidates and information on the benefits of working at the IRS. The site features a direct link to the IRS on USAJobs.com, the main source for federal employment opportunities, allowing candidates to focus their job search.
 
Subscribe to IRS Newswire
Updated May 19, 2011 — The law change on the expanded information reporting requirement was repealed in April 2011 and therefore will not be implemented.
IR-2010-79, July 1, 2010
WASHINGTON — The Internal Revenue Service today invited public commentPDF on how to most effectively carry out a law change that, starting in 2012, will require businesses to report a wider range of payments to contractors, vendors and others, usually on Form 1099. These comments will help the IRS issue guidance that implements this provision in a manner that minimizes burden and avoids duplicate reporting.
Under a proposed regulation, many business purchases made with credit or debit cards would be exempt from the new reporting requirement because they are already reported by banks and other payment processors. The IRS seeks comments on additional circumstances in which duplicate reporting might otherwise occur and on rules that would prevent such duplicate reporting.
The change, enacted in March but not effective until 2012, expanded existing reporting requirements to include a business’s payments related to goods and other property, and payments to most corporations. With some exceptions, payments to corporations are currently exempt from this requirement.
There are three ways to submit comments.
E-mail to: Notice.Comments@irscounsel.treas.gov. Include “Notice 2010-51" in the subject line.
Mail to: Internal Revenue Service, CC:PA:LPD:PR (Notice 2010-51), Room 5203, P.O. Box 7604, Ben Franklin Station, Washington, DC 20044.
Hand deliver to: CC:PA:LPD:PR (Notice 2010-51), Courier’s Desk, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC, between 8 a.m. and 4 p.m., Monday through Friday.
The deadline is Sept. 29, 2010. Further details are in Notice 2010-51PDF, posted today on IRS.gov.
Subscribe to IRS Newswire
IR-2010-93, August 27, 2010
WASHINGTON — The Internal Revenue Service is encouraging business taxpayers, associations and other interested parties to submit to the Industry Issue Resolution (IIR) program tax issues for resolution involving a controversy, a dispute or an unnecessary burden on business taxpayers.
The objective of the IIR program is to resolve business tax issues common to significant numbers of taxpayers through new and improved guidance. In past years, issues have been submitted by associations and others representing both small and large business taxpayers, resulting in tax guidance that helps thousands of taxpayers.
Recent submissions accepted into the IIR program include:
Network assets in the telecommunications industry (unit of property)
Asset class determination under Revenue Procedure 87-56 for wireless telecommunication assets
Vendor mark down allowances in calculation of inventory under the retail inventory method
Network assets in the utilities industry (unit of property)
Guidance issued as a result of the IIR program includes:
Technical terminations of publicly traded partnerships - procedures for requesting relief, delegation of authority for granting relief, and a sample closing agreement documenting the conditions under which relief is granted. (Industry Director Communication LMSB-04-0210-006)
Auto Last In First Out - for automobile wholesalers, manufacturers and dealers regarding the proper treatment of the dollar-value, LIFO inventory method for pooling purposes of crossover vehicles, which have characteristics of trucks and cars. (Revenue Procedure 2008-33)
For each issue selected, an IIR team of IRS and Treasury personnel gather relevant facts from taxpayers or other interested parties affected by the issue.  The goal is to recommend guidance to resolve the issue.  This benefits both taxpayers and the IRS by saving time and expense that would otherwise be expended on resolving the issue through audits.
IIR project selections are based on the criteria set forth in Revenue Procedure 2003-36. For each issue selected, a multi-functional team of IRS, Chief Counsel, and Treasury personnel will be assembled. The teams will gather and analyze the relevant facts from industry groups and taxpayers for each issue and recommend guidance.
Requests for guidance on tax issues under the IIR program can be submitted at any time to IIR@irs.gov.  Submissions received are reviewed semi-annually with selections next being made from issues submitted by September 30, 2010.
Subscribe to IRS Newswire
IR-2010-92, Aug. 19, 2010
WASHINGTON — Consistent with a Financial Management Service initiative announced in April of this year, the IRS today issued proposed regulations to significantly increase the number of electronic transactions between taxpayers and the federal government.
The proposed regulations (REG 153340-09) would eliminate the rules for making federal tax deposits by paper coupon because the paper coupon system will no longer be maintained by the Treasury Department after Dec. 31, 2010. The proposed regulations generally maintain existing rules for depositing federal taxes through the Electronic Federal Tax Payment System (EFTPS).
Using EFTPS to make federal tax deposits provides substantial benefits to both taxpayers and the government. EFTPS users can make tax payments 24 hours a day, seven days a week from home or the office.
Deposits can be made online with a computer or by telephone. EFTPS also significantly reduces payment-related errors that could result in a penalty. The system helps taxpayers schedule dates to make payments even when they are out of town or on vacation when a payment is due. EFTPS business users can schedule payments up to 120 days in advance of the desired payment date.
Information on EFTPS, including how to enroll, can be found at www.eftps.gov or by calling EFTPS Customer Service at 1-800-555-4477.
Some businesses paying a minimal amount of tax may make their payments with the related tax return, instead of using EFTPS. More details regarding taxes required to be deposited using EFTPS, dollar thresholds and other specific requirements are in the proposed regulations.
Additional Information:
Publication 4132PDF, which explains the process of enrolling and paying via the Internet
Publication 966PDF, The Secure Way to Pay Your Federal Taxes for Businesses and Individuals
Publication 4169PDF, Tax Professional Guide to Electronic Federal Tax Payment System
Publication 4320PDF, EFTPS Toolkit, which contains PDF(s) and descriptions of EFTPS educational materials and their intended target audience, and is for use by tax professionals and financial institutions to assist in educating their clients on the benefits of EFTPS.
Publication 4275PDF, Express Enrollment for New Businesses
Electronic Payment Options Home Page
IR-2010-90, Aug. 19, 2010
WASHINGTON – The Internal Revenue Service today announced that interest rates for the calendar quarter beginning October 1, 2010, will remain the same. The rates will be: 
four (4) percent for overpayments [three (3) percent in the case of a corporation];
four (4) percent for underpayments;
six (6) percent for large corporate underpayments; and
one and one-half (1.5) percent for the portion of a corporate overpayment exceeding $10,000.
Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis.  For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.  Generally, in the case of a corporation, the underpayment rate is the federal short-term rate plus 3 percentage points and the overpayment rate is the federal short-term rate plus 2 percentage points.  The rate for large corporate underpayments is the federal short-term rate plus 5 percentage points.  The rate on the portion of a corporate overpayment of tax exceeding $10,000 for a taxable period is the federal short-term rate plus one-half (0.5) of a percentage point. 
The interest rates announced today are computed from the federal short-term rate during July 2010 to take effect August 1, 2010, based on daily compounding.
Revenue Ruling 2010-21PDF, announcing the rates of interest, is attached and will appear in Internal Revenue Bulletin No. 2010-39, dated September 27, 2010.
Subscribe to IRS Newswire