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IR-2013-99, Dec. 17, 2013
WASHINGTON — The Internal Revenue Service today announced the selection of three new members and a chairperson to the Electronic Tax Administration Advisory Committee (ETAAC).
ETAAC provides an organized forum for discussion of issues in electronic tax administration and supports the goal of increasing electronic transactions between tax professionals and the IRS.  
The new members are below.
James Buttonow of Greensboro, N.C., is a certified public accountant and vice president of product development for Beyond415 software products. He designs and develops post-filing technology solutions and teaches post-filing topics to practitioners.
	 
Everard Lee Davenport of Washington, D.C., is principal at Davenport Consulting, working with a variety of organizations to create and lead programs providing free income tax services, computer access and digital learning to underserved communities. He is the architect of MyFreeTaxes.com.
	 
Troy Thibideau of Maple Grove, Minn., is executive vice president of marketing and client operations for Convey Compliance Systems, Inc., working with third party service providers and information returns. He is a former CPA with over 20 years of experience within the technology and finance industries. 
The new chairperson is below.
Cyrus Daftary of Newton, Mass., has been elected by the members to serve as the chairperson of ETAAC for 2013-2014. He is a partner with Burt, Staples & Maner and is responsible for developing and implementing tax software solutions for withholding and information return reporting. Daftary’s experience includes representing clients before the IRS under Form 1042 audits and Form 1042 voluntary disclosures, and designing an online course “Cyberlaw: Legal Research, Issues and Practice in Cyberspace.” He earned an economics degree from Indiana University, a Juris Doctorate from University of Dayton School of Law and a LL.M. from Temple University in Tax.
Each June, the ETAAC submits a report to Congress reporting on the progress of the IRS’s electronic tax initiatives. ETAAC was created in 1998 by the IRS Restructuring and Reform Act of 1998 (RRA 98).
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IR-2013-97, Dec. 11, 2013 
WASHINGTON — The Information Reporting Program Advisory Committee (IRPAC) today released its annual report for 2013, including numerous recommendations to the Commissioner of Internal Revenue on new and existing issues in tax administration.
“In their report, IRPAC members provide valuable feedback to the IRS on a wide range of information reporting issues,” IRS Acting Commissioner Danny Werfel said. “Committee members have graciously offered their time and expertise. The IRS will carefully consider their recommendations.”
In the 2013 report, IRPAC recommends that IRS:
Extend truncation of taxpayer identification numbers (TINs) to employer identification numbers (EINs).
Expand the TIN matching program to permit matching on a greater number of return types.
	 
Improve instructions to reduce errors on Form 1099-MISC.
	 
Provide additional guidance with regard to merchant card reporting on Form 1099-K.
The committee also commented on cost basis reporting for debt instruments, specifically addressing requirements, practices and capabilities for reporting market premium and discount. There are also extensive discussions of reporting requirements under the Foreign Account Tax Compliance Act (FATCA) and the Affordable Care Act.
The full 2013 IRPAC Public Report is available on IRS.gov.
IRPAC is a federal advisory committee that provides an organized public forum for discussion of information reporting issues. It is comprised of a diverse cross-section of individuals drawn from the tax professional community, financial institutions, small and large businesses, universities and colleges, and securities and payroll firms.
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IR-2013-96, Dec. 9, 2013  
WASHINGTON ― The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning Jan. 1, 2014.  The rates will be: 
three (3) percent for overpayments [two (2) percent in the case of a corporation];
three (3) percent for underpayments;
five (5) percent for large corporate underpayments; and
one-half (0.5) 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 determined during Oct. 2013 to take effect Nov. 1, 2013, based on daily compounding.
Revenue Ruling 2013-25PDF announcing the quarterly rates will be published  in Internal Revenue Bulletin 2013-52, dated Dec. 23, 2013.
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IR-2013-95, Dec. 6, 2013
WASHINGTON — The Internal Revenue Service today issued the 2014 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on Jan. 1, 2014, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
56 cents per mile for business miles driven
23.5 cents per mile driven for medical or moving purposes
14 cents per mile driven in service of charitable organizations
The business, medical, and moving expense rates decrease one-half cent from the 2013 rates.  The charitable rate is based on statute.
The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs.
Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.
A taxpayer may not use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System (MACRS) or after claiming a Section 179 deduction for that vehicle.  In addition, the business standard mileage rate cannot be used for more than four vehicles used simultaneously.
These and other requirements for a taxpayer to use a standard mileage rate to calculate the amount of a deductible business, moving, medical, or charitable expense are in Rev. Proc. 2010-51PDF.  Notice 2013-80PDF contains the standard mileage rates, the amount a taxpayer must use in calculating reductions to basis for depreciation taken under the business standard mileage rate, and the maximum standard automobile cost that a taxpayer may use in computing the allowance under a fixed and variable rate plan.
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IR-2013-94, Dec. 4, 2013
WASHINGTON — The Internal Revenue Service today announced a milestone for IRS e-file – more than 122 million returns were e-filed during 2013. The statistics provided today contain complete e-file totals for 2013.
This year, the IRS received more than 45.2 million returns from those who prepared and e-filed their own returns on home computers, up from 43.2 million a year earlier, an increase of 4.6 percent. E-filed returns from tax professionals increased slightly, totaling more than 77 million returns. Whether they are self prepared or prepared by a tax return preparer, 91 percent of all tax returns filed by individuals are prepared on computers using tax preparation software, which improves the accuracy of those returns.
Other highlights from the new filing season statistics show:
During 2013, the IRS issued more than 109 million refunds worth almost $300 billion.
Almost 77 percent of refund recipients chose to receive their refunds through direct deposit.
More people are using IRS.gov to get answers, file their returns and resolve issues. So far in 2013, the IRS web site has been accessed more than 430 million times, up almost 24 percent compared to the same time last year.
 

2013 FILING SEASON STATISTICS


Cumulative statistics comparing 11/23/12 and 11/22/13


Individual Income Tax Returns:


2012


2013


% Change


Total Receipts


147,874,000


147,744,000


-0.1


Total Processed


147,284,000


147,223,000


-0.04


 


 


 


 


E-filing Receipts:


 


 


 


TOTAL           


 119,560,000


122,515,000


2.5


Tax Professionals


76,322,000


77,268,000


1.2


Self-prepared


43,238,000


45,247,000


4.6


 


 


 


 


Web Usage:


 


 


 


Visits to IRS.gov


353,974,215


438,066,180


23.8


 


 


 


 


Total Refunds:


 


 


 


Number


110,224,000


109,261,000


-0.9


Amount


$307.983


Billion


$299.863


Billion


-2.6


Average refund


 $2,794


$2,744


-1.8


 


 


 


 


Direct Deposit Refunds:


 


 


 


Number


 82,735,000


83,728,000


 1.2


Amount


$246.657


Billion


$244.929


Billion


-0.7


Average refund


 $2,981


$2,925


-1.9

 
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IR-2012-10, Jan. 18, 2012
WASHINGTON –– The Internal Revenue Service will host the second in a series of public meetings Wednesday, Jan. 25 to gather feedback on how to implement long-term changes to the tax system to reduce burden for taxpayers.
IRS Commissioner Doug Shulman has outlined a vision that would move the agency away from the traditional “look back” model of compliance, and instead perform substantially more “real time,” or upfront matching of tax returns when they are first filed with the IRS.
The goal of this initiative, called the Real-Time Tax System, is to improve the tax filing process by reducing burden for taxpayers and increasing overall compliance. Under such a system, the IRS could match information submitted on a tax return with third-party information at the beginning of return processing and provide the opportunity for taxpayers to fix the tax return if it contains data that does not match IRS records. Currently, the IRS conducts a significant number of compliance activities months after the tax return has been filed and processed.
At this public meeting, IRS officials will solicit feedback and input from outside stakeholders. This second meeting will feature representatives of large and small businesses, financial institutions, software providers and state revenue commissions.
In the meeting on Dec. 8, 2011, IRS officials heard comments from representatives of consumer groups, tax professionals and state and federal government representatives.
The second meeting, scheduled for 9:00 a.m. on Jan 25, will take place at the IRS Headquarters Building Auditorium, 1111 Constitution Ave., NW, Washington, D.C. Those who would like to attend the meeting should e-mail the IRS at CL.NPL.Communications@irs.gov with the contact information for the attendees or call the IRS at 202-622-3359.
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IR-2012-9, Jan. 17, 2012
WASHINGTON— The Internal Revenue Service today announced the selection of five new members for the Information Reporting Program Advisory Committee (IRPAC).
The new appointees will join 17 returning members who are in the second or third year of their three-year terms. Committee members represent the taxpaying public, tax professionals, small and large businesses, state tax administration and payroll providers.
“Efficient information reporting plays a critical role in a well-functioning tax system,” said IRS Commissioner Doug Shulman. “IRPAC members bring perspective from the business community that helps IRS on a wide range of information reporting issues.”
The following people have been appointed to serve on the committee beginning in 2012:
Boyd J. Brown, JD, of Santa Clara, Calif. Brown is a Benefits Tax Counsel at Intel Corporation. He has been working for almost 18 years in the compensation and benefits area. He is an adjunct faculty member with Georgetown University Law Center, teaching courses in taxation of fringe benefits and nonqualified deferred compensation.
Kristin Johnson, CPA and Chartered Retirement Plan Specialist, of St. Louis, Mo. Johnson is a Principal with Edward Jones and is responsible for all information reporting to clients and the Internal Revenue Service. She has been involved with the Securities Industry and Financial Markets Association in formulating information reporting best practices for broker-dealers.
Patricia L. Schmick, EA, of Federal Way, Wash. Schmick is the Sole Proprietor of P&L Enterprise, a tax accounting practice. She has been an accountant and tax professional for over 40 years. She is a founding member of the Washington Small Business Fair Planning Committee. The Small Business Fair is a free educational event for new and existing businesses. Schmick is a member of the Washington State Society of Enrolled Agents and the National Association of Enrolled Agents.
Paul Scholz, CPA, of Long Beach, Calif. Scholz is a Managing Partner of Onisko & Scholz, LLP. He has been a sole practitioner for almost 20 years working with small businesses and individual taxpayers. He is a member of the California Society of CPAs and AICPA.
Holly Sutton, CPA, of Fort Smith, Ark. Sutton is Director of Corporate Tax at Golden Living. She has worked in the healthcare industry for over 17 years providing high-level legislative support to the payroll tax group of the company.
The IRPAC was established in 1991. The committee’s purpose is to provide an organized public forum for discussion of relevant tax administration issues between IRS officials and representatives of the public.
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IR-2012-03, Jan 5, 2012
WASHINGTON — The Internal Revenue Service today released new proposed guidelines designed to provide relief to more innocent spouses requesting equitable relief from income tax liability.
A NoticePDF proposing a new revenue procedure, posted today on IRS.gov, revises the threshold requirements for requesting equitable relief and revises the factors used by the IRS in evaluating these requests. The factors have been revised to ensure that requests for innocent spouse relief are granted under section 6015(f) when the facts and circumstances warrant and that, when appropriate, requests are granted in the initial stage of the administrative process. The new guidelines are available immediately and will remain available until the finalized revenue procedure is published. The IRS will immediately begin using these new guidelines when evaluating equitable relief requests.
"The IRS is significantly changing the way we determine innocent spouse relief," said IRS Commissioner Doug Shulman. "These improvements should dramatically enhance our process to make it fairer for victimized taxpayers facing difficult situations.”
This is the second major change made to the innocent spouse program. In July, the IRS extended help to more innocent spouses by eliminating the two-year time limit that previously applied to requests seeking equitable relief.
The IRS invites public comment on the proposed revenue procedure. There are three ways to submit comments.
E-mail to: Notice.Comments@irscounsel.treas.gov. Include “Notice 2012-8” in the subject line.
Mail to: Internal Revenue Service, CC:PA:LPD:PR (Notice 2012-8), Room 5203, P.O. Box 7604, Ben Franklin Station, Washington, DC 20044.
Hand deliver to: CC:PA:LPD:PR (Notice 2012-8), 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 Feb. 21, 2012. 
 
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IR-2012-39, March 30, 2012
WASHINGTON — The Internal Revenue Service today officially opened the nomination season for the Information Reporting Program Advisory Committee (IRPAC), a federal advisory group that provides  recommendations to the IRS on information reporting issues of concern to both the private sector and the federal government.
“The IRS values the expertise these professionals bring to the table and actively seeks insights from IRPAC members to help the IRS keep pace with changing times,” said Frank Keith, Chief of IRS Communications & Liaison.
IRPAC presents an annual report to the IRS Commissioner at a public meeting in the fall. The committee consists of 22 volunteers who are appointed to three-year terms by the Commissioner. Terms are staggered so that about a third of the panel changes each year. Nominations are currently being accepted for up to seven appointments to terms that will begin in January 2013.
The deadline for submitting applications is May 31.
IRPAC members are drawn from diverse backgrounds. Members represent the taxpaying public, tax professional community, small and large businesses, colleges and universities, state tax administrations, banks, insurance companies, foreign financial institutions and the software and payroll communities.
Anyone interested in becoming a member of the IRPAC may nominate themselves or be nominated by a professional organization. All nominees must complete an application.
More information on the committee and the application process is available on the Tax Professional’s Page of IRS.gov. Questions about the nomination process can be sent to the following e-mail address:  *public_liaison@irs.gov.
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IR-2012-38, March 27, 2012
WASHINGTON — The Internal Revenue Service, Deputy Commissioner (International), Large Business and International Division (“LB&I”), announced today certain organizational and administrative changes and transitional procedures in connection with the creation of the Advance Pricing and Mutual Agreement (“APMA”) program.
Prior to Feb. 26, 2012, the Advance Pricing Agreement (“APA”) program was part of the Office of the Associate Chief Counsel (International), and the functions of the U.S. Competent Authority were generally exercised by the office of the Director, Competent Authority & International Coordination within the LB&I Division of the IRS.
Effective Feb. 26, 2012, the APA program and those Competent Authority functions (including mutual agreement procedures) related to transfer pricing and other allocation issues, as well as determinations of permanent establishment status, are realigned and consolidated into APMA, a single program within LB&I.
The Director of APMA reports to the Director, Transfer Pricing Operations. Other Competent Authority functions are the responsibility of a new LB&I Treaty Assistance and Interpretation team in the office of the Assistant Deputy Commissioner (International), LB&I.
Pursuant to this realignment, the administration of requests for Competent Authority assistance is shared by two separate units within LB&I. Requests for APAs or regarding other transfer pricing, permanent establishment and allocation issues are addressed by APMA. Competent Authority requests regarding non-allocation issues are addressed by the LB&I Treaty Assistance and Interpretation team.
The IRS intends to revise the existing published guidance with respect to requests for APAs and Competent Authority assistance.  Before issuing such updated guidance, the IRS will seek public comment. 
Pending issuance of such guidance, taxpayers should continue to follow and rely on Rev. Proc. 2006-9, 2006-1 C.B. 278, as modified by Rev. Proc. 2008-31PDF, 2008-1 C.B. 1133 with respect to requests for APAs and Rev. Proc. 2006-54PDF, 2006-2 C.B. 1035 with respect to requests for Competent Authority assistance, except as follows:
References to the APA program should be understood to refer to APMA.  
	 
For determinations regarding limitation on benefits, the user fee under Rev. Proc. 2006-54, §14.02 is $27,500, effective for requests received after Feb. 4, 2012.  See Rev. Proc. 2012-1 (Appendix A), 2012-1 I.R.B. 1.
	 
Taxpayers should send APA requests and requests for Competent Authority assistance to the following address: 
	Deputy Commissioner (International)
	Large Business and International Division
	Internal Revenue Service
	1111 Constitution Avenue, N.W.
	Routing: MA2-209
	Washington, D.C. 20224
	Attention: Katina Cooper
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IR-2012-37, March 23, 2012
WASHINGTON — The Internal Revenue Service announced today that it will provide penalty relief to farmers who incur estimated tax penalties because they did not timely receive Forms 1099 from MF Global or its court appointed trustee, and were unable to file their 2011 calendar year tax return by March 1, 2012.
The IRS also today provided the affected farmers with instructions on how to apply for this penalty relief.
Generally, farmers can avoid an estimated tax penalty if they file their returns and pay the full amount of tax shown on their return by March 1, 2012. An individual is a farmer for these purposes if two-thirds of the individual’s total gross income for the taxable year or the preceding taxable year is from farming. This rule and the relief being provided also apply for fishermen. 
MF Global filed for bankruptcy on Oct. 31, 2011, after revealing that hundreds of millions of dollars in customer money was missing. While the court appointed trustees are working to untangle MF Global’s financial records, the IRS understands that the magnitude of the records and the associated untangling delayed the issuance of Forms 1099 in a timely manner. Many former customers of MF Global did not receive their Forms 1099 by March 1, 2012. 
While the IRS has been advised that former customers have recently received their 1099s, the delay in mailing the Forms 1099 may have affected the ability of many farmers to file their 2011 calendar year return by March 1, 2012.   
If a taxpayer has an underpayment of estimated tax, all or part of the penalty for the underpayment may be waived if the IRS determines that the underpayment was due to a casualty, disaster or other unusual circumstance and it would be inequitable to impose the penalty.
To request a waiver of the estimated tax penalty, complete Form 2210-F, Underpayment of Estimated Tax by Farmers and Fisherman. As stated in the instructions to Form 2210-F, a short statement should be attached to the form stating that you received a late 1099 from MF Global. 
At the top of your Form 2210-F, write “MF Global.” 
Taxpayers should be aware that the Form 2210-F and accompanying Form 1040PDF cannot be submitted electronically. In the case of farmers who have filed their tax returns and an estimated tax penalty is assessed, please contact the IRS, identify this relief and the penalty will be abated. 
Taxpayers may download forms and publications from this Web site or may order them by calling 1-800-TAX-FORM (1-800-829-3676).
The IRS toll-free number for general tax questions is 1-800-829-1040. 
For information about the liquidation of MF Global, including the trustee’s statements on the issuance of Forms 1099, former customers may go to MFGlobalTrustee.com.
IR-2012-36, March 22, 2012
WASHINGTON — The Internal Revenue Service today released the 2011 IRS Data Book, a snapshot of agency activities for fiscal year 2011 – Oct. 1, 2010, to Sept. 30, 2011. During the year, the IRS collected $2.4 trillion and processed more than 234 million tax returns.
In addition to information on taxes collected and returns processed, the report also includes information about enforcement, taxpayer assistance, and the IRS budget and workforce, among others.  
E-file
Taxpayers e-filed more than 133 million business and individual income tax returns, including 77 percent of all individual income tax returns.
Refunds Issued
More than 119 million individual income tax returns, about 83 percent of all individual returns, resulted in refunds, totaling almost $338 billion.
Enforcement
The IRS examined 1.1 percent of all individual income tax returns and 1.5 percent of corporation income tax returns (excluding S corporation returns). 
Taxpayer Assistance
The IRS provided taxpayer assistance through 319 million visits to IRS.gov and assisted nearly 83 million taxpayers through its toll-free telephone helpline or at walk-in sites.
An electronic version of the 2011 IRS Data BookPDF can be found on the Tax Stats page of IRS.gov.
Printed copies of the IRS Data Book, Publication 55B, will be available by mid-April 2012 from the U.S. Government Printing Office. To obtain a copy, write to the Superintendent of Documents, P.O. Box 371954, Pittsburgh, PA 15250-7954, or call (202) 512-1800 for voicemail, or fax a request to (202) 512-2250.
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IR-2012-35, March 19, 2012 
WASHINGTON — The Internal Revenue Service seeks civic-minded volunteers to serve on the Taxpayer Advocacy Panel (TAP), a federal advisory committee that listens to taxpayers, identifies key issues, and makes recommendations for improving IRS service.
“TAP members give the IRS insights from every corner of our nation, helping the agency in its continuous effort to improve tax administration,” said IRS Commissioner Doug Shulman.
The TAP provides a forum for taxpayers from all 50 states, the District of Columbia and Puerto Rico to raise concerns about IRS service and offer suggestions for improvement. The TAP reports annually to the Secretary of the Treasury, the IRS Commissioner and the National Taxpayer Advocate. The Office of the Taxpayer Advocate, an independent organization within the IRS, provides oversight of the TAP.
“In trying to comply with an increasingly complex tax system, taxpayers may find they need different services than the IRS is currently providing,” said Nina E. Olson, National Taxpayer Advocate. “The TAP is vital because it provides the IRS with the taxpayers’ perspective as well as recommendations for improvement. This will help the IRS deliver the best possible service to assist taxpayers in meeting their tax obligations.”
To be a member of the TAP you must be a U.S. citizen, current with your federal tax obligations, able to commit 300 to 500 hours during the year and able to pass an FBI criminal background check. 
New TAP members will serve a three-year term starting in December 2012.  If you’re chosen as an alternate member, you’ll be considered to fill any vacancies that open in your area during the next three years.
The TAP is seeking members in the following locations:
Alabama
Arkansas
Connecticut
District of Columbia
Georgia
Kentucky
Maine
Missouri
New Mexico
New York
North Dakota
Pennsylvania
Tennessee
Texas
West Virginia
Wisconsin 
The panel needs alternates for:
Delaware
Hawaii
Minnesota
Montana
Nevada
Ohio
Oklahoma
Puerto Rico
South Dakota
Utah
Wyoming
Applications for the TAP will be accepted through April 27, 2012. Applications are available online at ImproveIRS.org. 
For additional information about the TAP or the application process, please call toll-free 888-912-1227.
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IR-2012-34, March 14, 2012
WASHINGTON — The Internal Revenue Service has launched a new online search tool, Exempt Organizations Select Check, to help users more easily find key information about tax-exempt organizations, such as federal tax status and filings.
Users can now go to one location on IRS.gov, select a tax-exempt organization, and check if the organization:
Is eligible to receive tax-deductible charitable contributions (Publication 78 data, which is incorporated here). Users may rely on this list in determining deductibility of contributions (just as they did when Publication 78 was a separate electronic publication rather than part of EO Select Check).
	 
Has had its federal tax exemption automatically revoked under the law for not filing a Form 990-series return or notice for three consecutive years (known as the Auto-Revocation List).
	 
Has filed a Form 990-N (e-Postcard) annual electronic notice. (Most small organizations whose annual gross receipts are normally $50,000 or less are required to electronically submit Form 990-N, unless they choose instead to file a completed Form 990 or Form 990-EZ.)
EO Select Check also offers improved search functions. For example, users can now look for organizations eligible to receive deductible contributions by Employer Identification Number (EIN), which was previously not a searchable or sortable field in the electronic Publication 78. And data about organizations eligible to receive deductible contributions are now updated monthly, rather than quarterly.
In addition, organizations that have automatically lost their tax exemptions may now be searched by EIN, name, city, state, ZIP Code, country, exemption type, and revocation posting date, rather than only by state.
EO Select Check also provides new pop-up help text to assist users in understanding the significance of auto-revocation search results, including the meaning of, and distinctions between, revocation dates and revocation posting dates.
EO Select Check offers search tips that provide suggestions on how to use the search application.
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IR-2012-30, March 2, 2012
WASHINGTON — The Internal Revenue Service today announced availability of the winter 2012 issue of the Statistics of Income (SOI) Bulletin, which features preliminary data for 143 million individual income tax returns filed for tax year 2010.
The Statistics of Income Division produces the SOI Bulletin on a quarterly basis. Articles included in the publication provide the most recent data available from various tax and information returns filed by U.S. taxpayers.
This issue of the SOI Bulletin also includes articles on the following:
Individual income tax rates and shares. Taxpayers filed 140.5 million returns for tax year 2009. Of those, nearly 82 million (or 58 percent) were taxable, which means that, at the return level, the taxpayer reported total income tax greater than zero. Adjusted gross income (AGI) reported on taxable returns was almost $6.8 trillion, while total income tax was $866 billion.
	 
Split-interest trusts. Charitable remainder trusts, charitable lead trusts and pooled income funds reported $8 billion in gross income and $121.2 billion in end-of-year assets for filing year 2010.
	 
Domestic private foundations. For tax year 2008, domestic private foundations reported $526.5 billion in total assets and $49.7 billion in total revenue.These foundations distributed $42.8 billion in contributions, gifts and grants to the charitable sector.
	 
Unrelated business income tax returns. For tax year 2008, tax-exempt organizations filed more than 42,000 unrelated business income tax returns and reported $10.3 billion in gross unrelated business income.
	 
Personal wealth. In 2007, an estimated 2.3 million U.S. adults had gross assets of $2 million or more, holding more than $12 trillion in combined net worth. The study used information reported on federal estate tax returns.
	 
Projections of federal tax return filings. The IRS expects that over 239 million tax returns will be filed during calendar year 2012, of which more than 145 million will be from individuals.
The Statistics of Income Bulletin is available for download at IRS.gov/taxstats. Printed copies of the Statistics of Income Bulletin are available from the Superintendent of Documents, U.S. Government Printing Office, P.O. Box 371954, Pittsburgh, PA 15250-7954. The annual subscription rate is $53 ($74.20 foreign), single issues cost $39 ($48.75 foreign).
For more information about these data, write to:
Director, Statistics of Income (SOI) Division, RAS:S
Internal Revenue Service
P.O. Box 2608
Washington, DC 20013-2608.
Related Items:
SOI Bulletin: Winter 2012 
Historical Tables and Appendix 
Tax Statistics  
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IR-2012-49, April 30, 2012
WASHINGTON — The Internal Revenue Service is accepting applications for the Tax Counseling for the Elderly (TCE) and Volunteer Income Tax Assistance (VITA) grant programs, which will allow some organizations to apply for annual funding for up to three years.
Applications will be accepted only through Grants.gov May 1 through May 31, 2012. Previous grant recipients will have the option to apply for up to three years of annual funding which would reduce the amount of paperwork they must complete over the three-year period. This annual funding will also help recipients with budget planning.
Interested organizations may obtain an electronic copy of the grant application package instructions, Publication 1101PDF for TCE and Publication 4671PDF for VITA on the IRS.gov website. More information about the TCE and VITA grants is available in Publication 4680PDF, TCE & VITA Grant Programs.
In 2011 the IRS awarded 30 TCE grantees $5.6 million and 213 VITA grantees $12 million. Through April 9, 2012, the two grant programs filed more than 2 million returns at over 9,800 sites nationwide.
The TCE program was established in 1978 to provide tax counseling and return preparation to persons age 60 or older and to give training and technical assistance to the volunteers who provide free federal income tax assistance to seniors across the nation.
The VITA Grant program was established in 2007 to supplement the VITA program, which was created in 1969. VITA provides underserved communities with free federal income tax filing assistance. The grant program enables VITA to extend services to underserved populations in hard-to-reach urban and non-urban areas, to increase taxpayers’ ability to file returns electronically, to enhance training of volunteers and to improve the accuracy rate of returns prepared at VITA sites. 
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IR-2012-48, April 16, 2012
WASHINGTON — The Internal Revenue Service today reminded taxpayers to review their tax returns for common errors that could delay the processing of their returns. Here are some ways to avoid common mistakes.
File electronically. Filing electronically, whether through e-file or IRS Free File, vastly reduces tax return errors, as the tax software does the calculations, flags common errors and prompts taxpayers for missing information. And best of all, there is a free option for everyone.
Mail a paper return to the right address. Paper filers should check the appropriate address where to file in IRS.gov or their form instructions to avoid processing delays.
Take a close look at the tax tables. When figuring tax using the tax tablesPDF, taxpayers should be sure to use the correct column for the filing status claimed.
Fill in all requested information clearly. When entering information on the tax return, including Social Security numbers, take the time to be sure it is correct and easy to read. Also, check only one filing status and the appropriate exemption boxes.
Review all figures. While software catches and prevents many errors on e-file returns, math errors remain common on paper returns.
Get the right routing and account numbers. Requesting direct deposit of a federal refund into one, two or even three accounts is convenient and allows the taxpayer access to his or her money faster. Make sure the financial institution routing and account numbers entered on the return are accurate. Incorrect numbers can cause a refund to be delayed or deposited into the wrong account.
Sign and date the return. If filing a joint return, both spouses must sign and date the return. E-filers can sign using a self-selected personal identification number (PIN).
Attach all required forms. Paper filers need to attach W-2s and other forms that reflect tax withholding, to the front of their returns. If requesting a payment agreement with the IRS, also attach Form 9465 or Form 9465-FS to the front of the return. Attach all other necessary schedules and forms in sequence number order shown in the upper right-hand corner.
Keep a copy of the return. Once ready to be filed, taxpayers should make a copy of their signed return and all schedules for their records.
Request a Filing Extension. For taxpayers who cannot meet the April 17 deadline, requesting a filing extension is easy and will prevent late filing penalties. Either use Free File or Form 4868. But keep in mind that while an extension grants additional time to file, tax payments are still due April 17.
Owe tax? If so, a number of e-payment options are available. Or send a check or money order payable to the “United States Treasury.”
 
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IR-2012-45, April 10, 2012
WASHINGTON —The Internal Revenue Service today reminded anyone unable to meet next week’s tax deadline that they can easily get an automatic six-month tax-filing extension. And, the easiest and quickest way to get an extension is online through the Free File link on IRS.gov.
In a matter of minutes, anyone, regardless of income, can use this free service to electronically request an automatic extension on Form 4868PDF. Filing this form gives taxpayers until Oct. 15 to file a return. This is an extension of time to file; not an extension of time to pay.
To get the extra time, taxpayers must estimate their tax liability on this form and should also pay any amount due. Taxpayers can e-pay what they owe using the Electronic Federal Tax Payment System (EFTPS), by electronic funds withdrawal or with a credit or debit card. Those who choose to pay by check or money order should make the payment out to the “United States Treasury.”
By properly filing Form 4868, a taxpayer will avoid the late-filing penalty, normally five percent per month based on the unpaid balance, that applies to returns filed after the deadline. In addition, any payment made with an extension request will reduce or eliminate interest and late-payment penalties that apply to payments made after April 17. The current interest rate is three percent per year, compounded daily, and the late-payment penalty is normally 0.5 percent per month.
Besides Free File, taxpayers can choose to request an extension through a paid tax preparer, using tax-preparation software or by filing a paper Form 4868, available on IRS.gov. Of the 10.5 million extension forms received by the IRS last year, about 4 million were filed electronically.
Some taxpayers get more time to file without having to ask for it:
Members of the military on duty outside the U.S., as well as U.S. citizens and resident aliens living and working abroad have until June 15 to file and pay, though interest still applies to payments made after April 17.
Members of the military and others serving in Iraq, Afghanistan or other combat zone localities can typically wait until at least 180 days after they leave the combat zone to both file returns and pay any taxes due.
People in parts of Indiana, Kentucky, Tennessee and West Virginia, affected by tornadoes, severe storms, floods and other recent natural disasters, have until May 31 to file and pay.
Details on all filing and payment options are on IRS.gov.
 
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IR-2012-44, April 6, 2012
WASHINGTON — The Internal Revenue Service is accepting nominations for the Electronic Tax Administration Advisory Committee (ETAAC). The deadline for submitting applications is May 24.
ETAAC was established as required by the Internal Revenue Service Restructuring and Reform Act of 1998. ETAAC serves as an organized public forum for the discussion of issues and the development of recommendations for improved electronic tax administration.
Nominations of qualified individuals may be made by letter and received from individuals or professional associations. A complete application package includes the nomination, ETAAC applicationPDF, a short statement of interest and a resume. The application should describe and document the proposed member’s qualifications, past and current affiliations and/or dealings in electronic tax administration. A notice published in the Federal Register dated April 4, 2012, contains more details about the ETAAC and the application process.
Members are approved by the Treasury Secretary to serve three-year terms, beginning in the fall of 2012. Members must pass an IRS tax compliance check and Federal Bureau of Investigation (FBI) background investigation and may not be federally registered lobbyists.
Questions about the nomination process can be sent to etaac@irs.gov.
 
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IR-2012-43, April 6, 2012
WASHINGTON — As the final stretch of the 2012 tax filing season unfolds, the Internal Revenue Service reminds taxpayers that they can get valuable last-minute tips by following the IRS on Twitter.
The IRS Twitter news feed, @IRSnews, provides the latest federal tax news and information for taxpayers. The focus of the IRS Twitter messages is on easy-to-use information, including tax tips, tax law changes, and important IRS programs such as e-file, getting a filing extension and “Where’s My Refund."
The IRS plans a special series of tweets in English and Spanish as the April 17 tax deadline approaches.
Anyone with a Twitter account can follow @IRSnews by going to http://twitter.com/IRSnews. Taxpayers can also follow the IRS Twitter news feed using IRS2Go, a free smartphone application available for Apple and Android devices.
The IRS also tweets tax news and information in Spanish at @IRSenEspanol. Follow this Twitter feed by going to http://twitter.com/IRSenEspanol.
Another IRS Twitter feed, @IRStaxpros, is designed for the tax professional community. Follow @IRStaxpros by going to http://twitter.com/IRStaxpros.
In addition to Twitter, the IRS provides additional social media tools, including YouTube videos, to help taxpayers before the tax deadline.
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IR-2012-41, April 4, 2012
WASHINGTON — The Internal Revenue Service reminds taxpayers that IRS YouTube videos can help them with their taxes before the April 17, 2012, deadline. The IRS channels offer information on a variety of the most frequently asked taxpayer questions at this time of year.
Videos are available in English, Spanish and American Sign Language. Among the hot topics for last-minute filers:
Owe Taxes But Can't Pay? —  English | Spanish | ASL (Obsolete)
The three IRS YouTube channels are home to hundreds of videos on subjects ranging from how to choose a tax preparer to how to efile your taxes for free.
The IRS YouTube channel in English is the fourth most viewed U.S. government YouTube channel. Since its debut in August 2009, there have been more than 3.1 million views.
Taxpayers can subscribe to the channels to receive notice of new video offerings year-round. The videos are also available on the IRS’s phone app, IRS2Go.
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IR-2012-58, May 25, 2012
WASHINGTON — The Internal Revenue Service today announced that the spring 2012 issue of the Statistics of Income Bulletin is available to the general public. This issue features information on high-income individual income tax returns filed for tax year 2009.
Taxpayers filed more than 3.9 million returns with adjusted gross incomes of $200,000 or more. These high-income returns represent almost 2.8 percent of all returns filed for 2009.
The Statistics of Income (SOI) Division produces the SOI Bulletin on a quarterly basis.  Articles included in the publication provide the most recent data available from various tax and information returns filed by U.S. taxpayers. This issue of the SOI Bulletin also includes articles on the following:
Noncash charitable contributions.  For tax year 2009, 21.9 million individual taxpayers who itemized deductions reported $31.8 billion in deductions for noncash charitable contributions
Individual retirement arrangements (IRAs).  At the end of tax year 2008, individual income taxpayers held $3.7 trillion in IRAs, based on fair market value. 
Foreign recipients of U.S. income.  For tax year 2009, U.S. source income payments to foreign persons totaled $546.5 billion.  
Corporate income.  For each tax year between 2004 and 2008, on average, 5 percent of corporate Schedule M-3 filers reported taxable income of more than $18.3 million.
Gift tax returns. Individuals filed 223,000 federal gift tax returns to report almost $37.9 billion in assets transferred during 2009.
Income and wealth.  Almost 21 percent of estate tax decedents who died in 2007 reported income in the top 1 percent of the adjusted gross income distribution for tax year 2006.
The Statistics of Income Bulletin is available for download at IRS.gov/taxstats. Printed copies of the Statistics of Income Bulletin are available from the Superintendent of Documents, U.S. Government Printing Office, P.O. Box 371954, Pittsburgh, PA 15250-7954. The annual subscription rate is $53 ($74.20 foreign), single issues cost $39 ($48.75 foreign).
For more information about these data, write to the Director, Statistics of Income (SOI) Division, RAS:S, Internal Revenue Service, P.O. Box 2608, Washington, DC 20013-2608.
Related Items: 
SOI Bulletin: Spring 2012
Historical Tables and Appendix
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IR-2012-55, May 22, 2012
WASHINGTON — The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning July 1, 2012.  The rates will be: 
three (3) percent for overpayments [two (2) percent in the case of a corporation];
three (3) percent for underpayments;
five (5) percent for large corporate underpayments; and
one-half (0.5) 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 determined during April 2012 to take effect May 1, 2012, based on daily compounding.
Revenue Ruling 2012-16PDF, announcing the rates of interest, is attached and will appear in Internal Revenue Bulletin No. 2012-26, dated June 25, 2012.
 
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