etrent17/irs-articles huggingface dataset:
IR-2009-57, June 4, 2009
WASHINGTON — IRS Commissioner Doug Shulman announced today that by the end of 2009, he will propose a comprehensive set of recommendations to help the Internal Revenue Service better leverage the tax return preparer community with the twin goals of increasing taxpayer compliance and ensuring uniform and high ethical standards of conduct for tax preparers.
Some of the potential recommendations could focus on a new model for the regulation of tax return preparers; service and outreach for return preparers; education and training of return preparers; and enforcement related to return preparer misconduct. The Commissioner will submit recommendations to the Treasury Secretary and the President by the end of the year.
“Tax return preparers help Americans with one of their biggest financial transactions each year. We must ensure that all preparers are ethical, provide good service and are qualified,” Shulman said. “At the end the day, tax preparers and the associated industry must be part of our overall game plan to strengthen the integrity of the tax system.”
The first part of this groundbreaking effort will involve fact finding and receiving input from a large and diverse constituent community that includes those that are licensed by state and federal authorities — such as enrolled agents, lawyers and accountants — as well as unlicensed tax preparers and software vendors. The effort will also seek input and dialog with consumer groups and taxpayers.
“We plan to have a transparent and open dialogue about the issues,” Shulman said. “At this early and critical stage of the process, we need to hear from the broadest possible range of stakeholders.”
Later this year, the IRS plans to hold a number of open meetings in Washington and around the country with constituent groups.
More information, including schedules and agendas for public meetings, will be posted on the “Tax Professionals” page on this Web site and will be communicated to stakeholder groups.
Related Item: Tax Return Preparer Review
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IR-2009-69, July 29, 2009
WASHINGTON — The Internal Revenue Service today announced its first successful prosecution related to fraud involving the first-time homebuyer credit and warned taxpayers to beware of this type of scheme.
On Thursday July 23, 2009, a Jacksonville, Fla.-tax preparer, James Otto Price III, pled guilty to falsely claiming the first-time homebuyer credit on a client’s federal tax return. Price faces the possibility of up to three years in jail, a fine of as much as $250,000, or both.
To date, the IRS has executed seven search warrants and currently has 24 open criminal investigations in pursuit of potential instances of fraud involving the credit. The agency has a number of sophisticated computer screening tools to quickly identify returns that may contain fraudulent claims for the first-time homebuyer credit.
“We will vigorously pursue anyone who falsely tries to claim this or any other tax credit or deduction,” said Eileen Mayer, Chief, IRS Criminal Investigation. “The penalties for tax fraud are steep. Taxpayers should be wary of anyone who promises to get them a big refund.”
Whether a taxpayer prepares his or her own return or uses the services of a paid preparer, it is the taxpayer who is ultimately responsible for the accuracy of the return. Fraudulent returns may result not only in the required payment of back taxes but also in penalties and interest.
First-Time Homebuyer Credit
The First-Time Homebuyer Credit, originally passed in 2008 and modified in 2009, provides up to $8,000 for first-time homebuyers. The purchaser, however, must qualify as a first-time homebuyer, which for purposes of this credit means someone who has not owned a primary residence in the past three years. If the taxpayer is married, this requirement also applies to the taxpayer’s spouse. The home purchase must close before Dec. 1, 2009, to qualify, and the credit may not be claimed on the purchaser’s tax return until after the taxpayer closes and has purchased the home.
Different rules apply for homes bought in 2008.
Full details and instructions are available.
IR-2009-68, July 24, 2009
WASHINGTON — The Internal Revenue Service is inviting the public to contribute ideas as part of an effort to ensure high performance standards for all tax preparers.
Last month, IRS Commissioner Doug Shulman announced plans to develop by year-end a comprehensive set of proposals to ensure consistent standards for tax preparer qualifications, ethics and service. Subsequently, the IRS announced a series of public forums, beginning in Washington, D.C., on July 30, to gather input from various stakeholder groups and organizations.
Two panel discussions involving representatives of consumer groups and tax professional organizations will take place at the Ronald Reagan Building amphitheater in Washington starting at 9 a.m. on July 30. Anyone interested in attending should confirm attendance by sending an e-mail message to: CL.NPL.Communications@irs.gov.
Notice 2009-60 issued today is an additional call for public comments and helps guarantee that all interested individuals and entities have the opportunity to contribute ideas.
“We are casting the widest net possible by seeking comment from not only tax preparers and the industry but also from the general public,” Shulman said. “All ideas are welcome at the table.”
More than 80 percent of taxpayers use either a paid-preparer or third-party software to prepare their annual tax returns. Professionals who represent clients before the IRS, including attorneys, accountants and enrolled agents are already subject to IRS oversight. But under current law, a much larger group of return preparers are not.
Written comments must be received by Aug. 31, 2009.  They should be submitted to CCPA:LPD:PR (Notice 2009-60), Room 5203, Internal Revenue Service, P.O. Box 7604, Ben Franklin Station, Washington, D.C. 20044.  Comments may also be e-mailed to: Notice.Comments@irscounsel.treas.gov
Please include “Notice 2009-60” in the subject line of any e-mail messages. More details can be found in IRS Notice 2009-60.
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IR-2009-66, July 14, 2009
WASHINGTON — The Internal Revenue Service today announced a series of public forums at which individuals and representatives of diverse constituent groups will be able to provide input on the development of tax preparer performance standards.
The public forums, a crucial part of an effort launched in June by IRS Commissioner Doug Shulman to help ensure tax preparers are qualified, ethical and provide a high level of service, will kick off on July 30 in Washington, D.C.
“These public meetings will be an important part of the dialogue as we move toward a set of comprehensive recommendations by the end of this year,” Shulman said. “We want an open discussion on how to strengthen the overall integrity of our tax system.”
Two panels are scheduled for a forum on July 30. The first panel will give consumer groups an opportunity to provide recommendations. These groups include the AARP, Consumer Federation of America, Center on Budget and Policy Priorities, National Community Tax Coalition and Low Income Tax Clinics.
The second panel will be made up of tax professional groups, including the American Institute of Certified Public Accountants, the National Association of Enrolled Agents, the National Association of Tax Professionals and the National Society of Accountants.
The two panels will take place at the Ronald Reagan Building amphitheater in Washington starting at 9 a.m. on July 30. People interested in attending should confirm attendance by sending an e-mail message to: CL.NPL.Communications@irs.gov.
The IRS also plans to convene meetings with other constituent groups later this summer and fall. Input will be sought from:

Federal and state organizations


IRS advisory groups, including the Internal Revenue Service Advisory Council (IRSAC), the Information Reporting Program Advisory Committee (IRPAC), the Electronic Tax Administration Advisory Committee (ETAAC), the Taxpayer Advocacy Panel (TAP) and the Advisory Committee on Tax Exempt and Government Entities (ACT)


Unaffiliated and individual tax preparers and groups


Private firms that support tax preparers

The dates and locations of these meetings will be announced as they become available. Small groups of tax preparers will also have the opportunity this summer to meet with IRS representatives to present their ideas at the IRS Nationwide Tax Forums.
The Nationwide Tax Forums this year include: Orlando, Aug. 4-6; New York, Aug. 25-27; Dallas, Sept. 8-10; and Atlanta, Sept. 22-24.
Related Item: Tax Return Preparer Review 
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March 5, 2010 — The last IRS-sponsored Tax Talk Today program aired on Oct. 6, 2009.
IR-2009-65, July 8, 2009
WASHINGTON — The Internal Revenue Service’s Tax Talk Today will discuss “OPR: A Balanced Approach,” featuring the agency’s Office of Professional Responsibility, its oversight role and its approaches to its mission. The Web-based show will be held July 14 at 2 p.m.
The mission of the Office of Professional Responsibility is to set, communicate and enforce standards of competence, integrity and conduct among tax professionals governed by Treasury Department Circular No. 230. OPR supports the IRS strategy to enhance enforcement of the tax law and to ensure that attorneys, accountants and other tax practitioners adhere to professional standards and follow the law. This program qualifies for an ethics continuing professional education credit.
Panelists include:  Karen L. Hawkins, new director of the IRS Office of Professional Responsibility; Mike Salyards, senior counsel, General Legal Services, IRS Office of Chief Counsel; Lonnie Gary, enrolled agent; RSM McGladrey, Mountainview, Calif.; and Christopher S. Rizek, tax attorney, Caplin & Drysdale Attorneys, Washington, D.C. The moderator is Les Witmer.Tax Talk Today is a free, interactive webcast aimed at educating tax professionals on the most contemporary and complex tax issues. Viewers are encouraged to submit questions during the live broadcast. Tax professionals in need of continuing education credits should select Continuing Education at the Web site for more information.
To access the webcast at no charge, viewers can register online at Tax Talk Today: Welcome . They can view Tax Talk Today with Windows Media Player and Real Player; both are free software that may already be installed on your computer. If not, click the link for Installing System Software to view Internet Broadcast under How to View.
Subscribers can view live webcasts as well as archived programs; listen to audio podcasts or read show transcripts. Subscribers also can order audio and video recordings. A transcript and audio file of the May 12 Webcast, “Specialty Taxes:  Estate and Gift and Employment Taxes,” are now available. Archives are available through Dec. 31, 2009.
This show is the first of two extra shows added on to the Tax Talk Today schedule. IRS will sponsor its last Tax Talk Today webcast on Tuesday, Oct. 6.
IR-2009-64, July 6, 2009
WASHINGTON — The Internal Revenue Service is publishing summertime tax tips to provide useful and concise advice on topics that affect taxpayers.
Many people don’t think about their taxes until the start of the filing season in January. That can be a mistake. Steps such as checking your withholding, getting the proper receipts from charities, organizing all the records you will need or setting a personal tax strategy that can save money at tax time are most effective if they are done well before year’s end.
The IRS is publishing three tax tips per week this summer. Topics range from how parents can get credit for sending their kids to day camp to protecting yourself from identity theft.
Now you can receive IRS Tax Tips via e-mail as soon as they are published by signing up through the IRS e-news subscription page, e-News Subscriptions. When subscribing, a confirmation message will be sent via e-mail. Verification must be sent in response in order to confirm a subscription.
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IR-2009-76, Aug. 21, 2009
WASHINGTON — The Internal Revenue Service today announced the availability of video and audio products to help taxpayers take full advantage of the 2009 tax provisions in the American Recovery and Reinvestment Act.
The IRS has launched a YouTube video site and an iTunes podcast site to better serve taxpayers.
People can visit the video site at www.youtube.com/irsvideos to view information about the Recovery, tax tips and how-to videos. These videos will be in English, Spanish, American Sign Language and other languages.
The YouTube focus will be on the provisions of the American Recovery and Reinvestment Act. Videos will highlight the $8,000 first-time homebuyer’s credit for those who purchase a house this year, the sales or excise tax deduction on new car purchases and the expanded credits for education and energy conservation.
The IRS YouTube channel will debut with seven Recovery videos in English and ASL and eight in Spanish. Also, included will be a video on using the IRS Withholding Calculator. Many workers received the Making Work Pay tax credit in April through their tax withholding at work. However, people who have more than one job or working spouses should especially check their withholding to ensure neither too much nor too little is being withheld. People can use the calculator to help determine if they should make adjustments.
People can visit the audio site at iTunes to listen to IRS podcasts about ARRA tax credits. People without an iTunes account can hear those same podcasts, in English and Spanish, on IRS.gov’s Multimedia Center.
IR-2009-74, Aug. 17, 2009
WASHINGTON — The Internal Revenue Service today announced the second in a series of public forums will be held on Wednesday, Sept. 2, in Washington, D.C., and feature a panel of federal and state officials, moderated by IRS Commissioner Doug Shulman.
The panel will include representatives from the Treasury Inspector General for Tax Administration (TIGTA) and the U.S. Government Accountability Office (GAO). Representatives from the states of California, Maryland, Oregon and New York will also participate on the panel.
Shulman announced a far-reaching review of paid preparers on June 4 to produce a comprehensive set of recommendations by the end of this year to boost taxpayer compliance and strengthen industry standards.
“This is the next important step in our open dialogue with interested parties in this effort,” Shulman said. “I’m very pleased with the quality of the feedback we’ve received so far. I’m confident these forums will ensure that all ideas are on the table when it’s time to form our recommendations.”
The forum will convene at 9 a.m. ET in the IRS Headquarters at 1111 Constitution Ave. NW, Washington, DC 20224. Anyone interested in attending should confirm attendance by sending an e-mail message to CL.NPL.Communications@irs.gov.
The first public forum was held on July 30 in Washington, D.C., and featured a panel of consumer groups and another panel of tax professional organizations. A third forum will be held in Chicago on Sept. 30 featuring independent return preparers and software industry representatives.
The IRS issued Notice 2009-60 on July 24 as an added call for public comments to ensure that all interested individuals and entities have the opportunity to contribute ideas.
Written comments must be received by Aug. 31, 2009.  They should be submitted to CCPA:LPD:PR (Notice 2009-60), Room 5203, Internal Revenue Service, P.O. Box 7604, Ben Franklin Station, Washington, D.C. 20044.
Comments may also be e-mailed to Notice.Comments@irscounsel.treas.gov. Please include “Notice 2009-60” in the subject line of any e-mail messages. More details can be found in the notice.
Related item:
Tax Return Preparer Review
 
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IR-2009-73, Aug. 14, 2009
 
WASHINGTON — The Internal Revenue Service today announced that interest rates for the calendar quarter beginning Oct. 1, 2009, 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 2009 to take effect Aug. 1, 2009, based on daily compounding.
Revenue Ruling 2009-27PDF, announcing the rates of interest, will appear in Internal Revenue Bulletin 2009-39, dated Sept. 28, 2009.
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IR-2009-72, Aug. 13, 2009
WASHINGTON — Time is running out for many small businesses wishing to take advantage of the expanded business loss carryback option included in this year’s recovery law, the Internal Revenue Service said today. Eligible individuals have until Oct. 15 to choose this expanded carryback option. Eligible calendar-year corporations have until Sept. 15.
This carryback provision offers small businesses that lost money in 2008 an excellent way to quickly get some much needed cash if they were profitable in previous years. This option is only available for a limited time, so small businesses should consider it carefully and act before it’s too late.
Under the American Recovery and Reinvestment Act (ARRA), enacted in February, many small businesses that had expenses exceeding their income for 2008 can choose to carry the resulting loss back for up to five years, instead of the usual two. This means that a business that had a net operating loss (NOL) in 2008 could carry that loss as far back as tax-year 2003, rather than the usual 2006. Not only could this mean a special tax refund, but the refund could be larger, because the loss is being spread over as many as five tax years, rather than just two.
This option may be particularly helpful to any eligible small business with a large loss in 2008. A small business that chooses this option can benefit by:
Offsetting the loss against income earned in up to five prior tax years,
Getting a refund of taxes paid up to five years ago,
Using up part or all of the loss now, rather than waiting to claim it on future tax returns.
Under ARRA, eligible taxpayers can choose to carry back a NOL arising in a taxable year beginning or ending in 2008 for three, four or five years instead of two. The option is available for an eligible small business (ESB) that has no more than an average of $15 million in gross receipts over a three-year period ending with the tax year of the NOL. This choice may be made for only one tax year.
Most taxpayers still have time to choose this special carryback and get a refund. A calendar-year corporation that qualifies as an ESB must file a claim by Sept. 15, 2009. For individuals, the deadline is Oct. 15, 2009. This includes a sole proprietor that qualifies as an ESB, an individual partner in a partnership that qualifies as an ESB and a shareholder in an S corporation that qualifies as an ESB. Deadlines vary for fiscal-year taxpayers, depending upon when their fiscal year ends and whether they are making the choice for the tax year that ends or begins in 2008.
Individuals can accelerate a refund by filing Form 1045PDF, Application for Tentative Refund. Similarly, corporations with NOLs may also accelerate a refund by using Form 1139PDF, Corporation Application for Tentative Refund. Normally, refunds are issued within 45 days. These forms, along with answers to frequently-asked questions about this special carryback, and other details can be found on the IRS Web site.
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IR-2009-70, Aug. 3, 2009
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 that involve a controversy, dispute or an unnecessary burden on business taxpayers.
The objective of the IIR program is to resolve through issuance of new and improved guidance business tax issues common to significant numbers of taxpayers. In past years, issues have been submitted by associations and others representing both small and large business taxpayers, resulting in tax guidance that has affected thousands of taxpayers.
Submissions received are reviewed semi-annually with selections next being made from issues submitted by Aug. 31, 2009.
The IIR program recently accepted for review the topic of technical terminations of publicly traded partnerships.
Guidance issued as a result of the IIR program includes:
Auto Last In First Out (LIFO) 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 2008-23PDF)
Valuation of Parts Inventory by Heavy Equipment Distributors. (Revenue Procedure 2006-14PDF)
Clarification regarding circumstances when facsimile signatures may be used to sign employment tax forms. (Revenue Procedure 2005-39)
An explanation of the circumstances under which insurance companies that make incentive payments to health care providers will be permitted to include those payments in unpaid losses and how a taxpayer may obtain permission to change their accounting method for such payments. (Revenue Procedure 2004-41PDF)
For each issue selected, an IIR team, consisting of IRS and Treasury personnel, gathers relevant facts from taxpayers or other interested parties affected by the issue. Their 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 examinations.
IIR project selections are based on the criteria set forth in Revenue Procedure 2003-36PDF. 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.
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IR-2009-86, Sept. 30, 2009
WASHINGTON — Experts from the Internal Revenue Service and the tax preparation industry will discuss the many tax credits, deductions and incentives contained in the American Recovery and Reinvestment Act for 2009 on the Oct. 6 Internet airing of Tax Talk Today.
The American Recovery and Reinvestment Act contained benefits for:
First-time homebuyers
People purchasing new cars
Energy efficient home upgrades
Parents and students paying for college
The October program for qualifies for one CPE credit for tax professionals. To access the web cast at no charge, viewers can register online at Tax Talk Today.
Panelists include:  Virginia M. Tarris, IRS tax law specialist; Amy Stanton, IRS program manager; CPA Gerard H. Schreiber, Jr, partner, Schreiber and Schreiber; and CPA and attorney Donna Rodriguez, managing partner, Donna L. Rodriguez, PLLC.  The moderator is Les Witmer.
Tax Talk Today is a free, live, interactive webcast aimed at educating tax professionals on the most contemporary and complex tax issues. Viewers are encouraged to submit questions during the live broadcast. Tax professionals in need of continuing education credits should select Continuing Education at the Web site for more information.
They can view Tax Talk Today with Windows Media Player and Real Player; both are free software that may already be installed on your computer. If not, click the link for Installing System Software to view Internet Broadcast under “How to View.”
Subscribers can view live web casts as well as archived programs; listen to audio podcasts or read show transcripts through Dec. 31, 2009. Subscribers also can order audio and video recordings. A transcript and audio of the July 14 Webcast, “OPR: A Balanced Approach,” is now available.
 
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IR-2009-85, Sept. 24, 2009
WASHINGTON ― The Internal Revenue Service today provided guidance for retirement plan administrators, plan participants and retirees regarding recent legislation affecting required minimum distributions. The Worker, Retiree, and Employer Recovery Act of 2008 waives required minimum distributions for 2009 from certain retirement plans.
Generally, a required minimum distribution is the smallest annual amount that must be withdrawn from an IRA or an employer’s plan beginning with the year the account owner reaches age 70½. The 2008 law waives required minimum distributions for 2009 for IRAs and defined contribution plans (such as 401(k)s) and allows certain amounts distributed as 2009 required minimum distributions to be rolled over into an IRA or another retirement plan. 
 Notice 2009-82PDF provides relief for people who have already received a 2009 required minimum distribution this year.  Individuals generally have until the later of Nov. 30, 2009, or 60 days after the date the distribution was received, to roll over the distribution. 
The notice also provides guidance for retirement plan sponsors.  It contains two sample plan amendments that plan sponsors may adopt or use to amend their plans to either stop or continue 2009 required minimum distributions.  Both sample amendments provide that participants and beneficiaries can choose to receive or not to receive 2009 required minimum distributions.  Also, both sample amendments allow the employer to offer direct rollover options of certain 2009 required minimum distributions. 
Plan sponsors may need to tailor the sample amendment to their plan’s particular terms and administration procedures and must adopt the amendment no later than the last day of the first plan year beginning on or after Jan. 1, 2011 (Jan. 1, 2012 for governmental plans).
 
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IR-2009-84, Sept. 21, 2009
WASHINGTON ─ The Internal Revenue Service today announced a one-time extension of the deadline for special voluntary disclosures by taxpayers with unreported income from hidden offshore accounts. These taxpayers now have until Oct. 15, 2009.   
Under special provisions issued in March, taxpayers with these hidden accounts originally had until Sept. 23, 2009 to come forward. Those taxpayers who do not voluntarily disclose their hidden accounts by the new deadline face much harsher civil penalties, where applicable, and possible criminal prosecution.
IRS officials decided to extend this deadline after receiving repeated requests from tax practitioners and attorneys around the country following an influx of taxpayer requests. By extending the deadline for a short period of time, the IRS is providing relief for those taxpayers who had intended to come forward prior to the deadline, but faced logistical and administrative challenges in meeting it. The extension will allow tax preparers and attorneys the necessary time to interview and advise their backlog of taxpayers with these hidden accounts, and prepare the necessary paperwork to qualify for the special penalty provisions.
The IRS also announced that there will be no further extensions.
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IR-2009-82, Sept. 16, 2009
WASHINGTON — As part of a larger effort to increase the awareness and use of tax benefits available through the American Recovery and Reinvestment Act (Recovery Act), the Internal Revenue Service today announced the availability of a vast array of products that help explain several tax benefits currently available to American families.
With time running out to qualify for some of the recovery benefits, the IRS has unveiled new YouTube videos, radio public service announcements (PSAs) and multi-lingual informational flyers that provide basic information for taxpayers. The items are available on IRS.gov for partner groups, the media, Web sites and other organizations whose audience could benefit from the new tax changes.
These products are in addition to earlier IRS efforts on YouTube (www.youtube.com/irsvideos) and iTunes to increase public awareness about the tax credits. The IRS.gov official Web site also contains links and complete information about ARRA at /recovery. The PSAs are in English and Spanish in either 30-second or 60-second formats. The flyers and posters are in English, Spanish, Chinese, Korean, Russian and Vietnamese.
Topics covered include: 
The first-time homebuyer credit, which provides a maximum $8,000 tax credit to people who meet eligibility requirements and complete the purchase of their homes before Dec. 1;
	 
The American opportunity credit, which expands education tax credits to $2,500 for tuition and a change in 529 plans allows for the purchase of computers for college use;
	 
The energy credit, which expands to a maximum of $1,500 for certain energy-saving upgrades;
	 
A new deduction for the sales or excises taxes paid on the purchase price of new vehicles;
	 
The Making Work Pay tax credit, which many American workers received in April through reduced tax withholding in their paychecks. The Making Work Pay credit is $400 for single taxpayers and $800 for married taxpayers who meet certain income guidelines. However, some people, such as working spouses, workers with two jobs, pensioners, some Social Security recipients and dependents, should check their tax withholding to ensure they are not having too little withheld.
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IR-2009-81, Sept. 15, 2009
WASHINGTON — The Internal Revenue Service has allocated authority to issue Tribal Economic Development Bonds under the American Recovery and Reinvestment Act of 2009.
In Notice 2009-51DOC, the IRS solicited applications for the allocation of $2 billion of national bond volume limitation authority (volume cap) to issue Tribal Economic Development Bonds under section 7871(f) of the Internal Revenue Code. Section seven of the notice provides that the volume cap is to be allocated in at least two tranches, the first of which would not exceed $1 billion in total with a $30 million limitation per Indian tribal government.
The IRS received 58 applications requesting a total of $1,329,487,364.88 in volume cap available under the first tranche. Pursuant to the notice, the IRS allocated pro rata amounts of volume cap to the projects described in the applications such that the total amount allocated under the first tranche did not exceed $1 billion.
For those applicants who elected to consent to public disclosure, the IRS is releasing an allocation schedulePDF showing the names of the Indian tribal governments, the types and locations of the projects described in the applications and the amounts of the awarded allocations.
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Start time amended 09/14/09.
IR-2009-80, Sept. 11, 2009
WASHINGTON — The Internal Revenue Service today announced the third and final public forum to gather input on tax return preparer standards will be held on Wednesday, Sept. 30, in Chicago. It will feature two panels of representatives from the software and unenrolled preparer industries and be moderated by IRS Commissioner Doug Shulman.
Shulman announced a review of paid preparers on June 4 to produce a comprehensive set of recommendations by the end of this year to boost taxpayer compliance and strengthen industry standards.
The forum will convene at 10 a.m. CT in the J.R. Thompson Center at 100 W. Randolph St., Chicago, IL 60601, in the lower level auditorium. Anyone interested in attending should confirm attendance by sending an e-mail message to CL.NPL.Communications@irs.gov.
The first public forum was held on July 30 in Washington, D.C., and featured a panel of consumer groups and another panel of tax professional organizations. A second forum was held in D.C. on Sept. 2 featuring federal and state government agencies.
The IRS issued Notice 2009-60 on July 24 as an added call for public comments to ensure that all interested individuals and entities have the opportunity to contribute ideas. More than 450 comments were received by the deadline of Aug. 31, 2009.
Related information:

Tax Return Preparer Review

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IR-2009-97, Oct. 28, 2009
 
WASHINGTON — The Information Reporting Program Advisory Committee (IRPAC) today released the advisory group’s 2009 recommendations on a wide range of tax administration issues.
Based on its findings and discussions, IRPAC made more than 50 recommendations on a broad array of issues and concerns Internal Revenue Service-wide, key among them:
Creating a new form and modified rules on information reporting of payments made in settlement of payment card and third party network transactions.
Providing guidance on tax information reporting and withholding.
Reporting of customer’s basis in securities transactions.
Creating online Form W-4 instructions for non-resident aliens.
Withholding on certain payments made by government entities
Providing additional guidance to government entities that must comply with the withholding provisions.
Permitting payers to issue payee statements showing only the last four digits of a payee’s TIN.
Through IRPAC, systemic problems related to information reporting are addressed in a public forum. IRPAC draws its members from the tax professional community and supported by a staff of IRS employees.
 
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IR-2009-96, Oct. 21, 2009
WASHINGTON — The Internal Revenue Service today issued a new form to aid the processing of mortgage applications under the Home Affordable Modification Program (HAMP) as part of the Making Home Affordable Program. The new form will make it simpler for people, especially homeowners trying to modify or refinance their mortgages, to order copies of their tax return transcripts.
Taxpayers often need copies of their tax return information, especially when they are obtaining a new mortgage or when they are refinancing or modifying an existing mortgage. Taxpayers can use Form 4506T-EZ, Short Form Request for Individual Tax Return TranscriptPDF, to order a Form 1040 series tax return transcript free of charge.
A transcript is a computer print-out that includes most lines on the original return. A transcript often is an acceptable substitute for a copy of the original tax return for purposes of verifying income.
Form 4506T-EZ is a streamlined version of the Form 4506T, Request for Transcript of Tax Return. The Form 4506T-EZ is only for individuals who filed a Form 1040 series. Businesses, partnerships and individuals who need transcript information from other forms must still use the Form 4506T.
Transcripts ordered through the Form 4506T-EZ can be mailed to a third party, such as a financial institution. The IRS cautions taxpayers that they should complete all required fields, especially the requested years, before signing and dating the form.
Taxpayers can obtain Form 4506T-EZ at IRS.gov. It is a fillable form so people can complete the form online and print a copy. They can mail it or fax it to the addresses and numbers listed in the instructions. It generally takes 10 days to process the request.
The IRS also recommends that people retain copies of their original tax returns in a safe, secure place. Exact copies of tax returns are available by filing Form 4506, Request for Copy of Tax Return, but each copy costs $57 and can take 60 days to process.
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IR-2009-93, Oct. 15, 2009
 
WASHINGTON — Tax rate brackets and various tax benefits will remain unchanged or change only slightly in 2010 due to inflation, the Internal Revenue Service announced today.
By law, the dollar amounts for a variety of tax provisions must be revised each year to keep pace with inflation. As a result, more than three dozen tax benefits are subject to inflation adjustments each year, but because recent inflation factors have been minimal, many of these benefits will remain unchanged or change only slightly for 2010.
Key provisions affecting 2010 returns, filed by most taxpayers in early 2011, include the following:
The value of each personal and dependency exemption available to most taxpayers is $3,650, unchanged from 2009.
The new standard deduction for heads of household is $8,400, up from $8,350 in 2009. For other taxpayers, the standard deduction remains unchanged at $11,400 for married couples filing a joint return and $5,700 for singles and married individuals filing separately. Nearly two out of three taxpayers take the standard deduction rather than itemizing deductions, such as mortgage interest, charitable contributions, and state and local taxes.
Various tax bracket thresholds will see minor adjustments. For example, for a married couple filing a joint return the taxable income threshold separating the 15 percent bracket from the 25 percent bracket is $68,000, up from $67,900 in 2009.
The annual gift tax exclusion remains unchanged at $13,000.
Details on these and other inflation adjusted items for 2010 can be found in Revenue Procedure 2009-50PDF, available now on IRS.gov.
 
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Updated 3/13/2013: This information is now obsolete.
IR-2009-91, Oct. 13, 2009
WASHINGTON — The Internal Revenue Service has created a new Web-based tool to help small business owners determine which tax-favored pension plan best suits their needs and how to keep their plans in compliance.
The IRS Retirement Plan Navigator is intended to provide employers with an easy-to-use guide that focuses on three areas: choosing a plan, maintaining a plan and correcting a plan.
By using the navigator, employers may find that choosing and maintaining a pension plan is not as daunting as they thought. Some plan types are less costly and easier to establish than others.
The navigator does not suggest which plan may be best for a specific employer but it does lay out the options to allow them to choose one that best fits their situations. The navigator includes a side-by-side comparison of pension plans and their requirements.
The navigator provides a checklist and suggested resources for maintaining compliance. Pension laws change frequently. Employers can minimize problems by doing a once-a-year review to ensure they maintain compliance.
The IRS also recognizes that mistakes can be made unintentionally, and many errors can be corrected without notifying the agency. The navigator offers suggested options to employers seeking to correct errors and bring their plans back into compliance.
Although the Retirement Plan Navigator is aimed at small business owners, it also can help mid-size businesses review their options as well. Individuals who want to better understand their employer’s plan may also find it of use. 
The Web-based guide will be kept up to date as pension laws and regulations change.
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Tax Information for Retirement Plan Community
	 
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IR-2009-90, Oct. 9, 2009
 
WASHINGTON — Senior law professors from the George Washington University Law School will join with officials from the Treasury Department, the Internal Revenue Service and representatives of the tax authorities of foreign governments to discuss significant tax compliance and treaty issues at the 22nd Annual Institute on Current Issues in International Taxation.
The two-day program will be held on Dec. 10 and 11, 2009, at the J.W. Marriott Hotel located at 1331 Pennsylvania Ave., Washington DC.
Those interested in attending can find out more about the topics, speakers and registration from the GWU Law School.
The program is designed primarily for corporate tax executives responsible for international tax matters, tax counsels of domestic and foreign multinational corporations, lawyers working in the international tax area and accounting firm partners and managers working in the international tax area.
The conference has been arranged to provide opportunities for lively exchanges between members on the panels who represent government, academia and the private sector and to offer question and answer periods with members of the audience. It will include the perennial ‘Ask the IRS’ session where senior IRS officials respond to questions from the audience.
The conference is further described in Announcement 2009-77PDF.
 
 
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IR-2009-89, Oct. 8, 2009
 
WASHINGTON ― Businesses planning to claim the recently-expanded work opportunity tax credit for eligible unemployed veterans and disconnected youth hired before mid-September now have until Oct. 17 to request the certification required for these workers, according to the Internal Revenue Service.
In Notice 2009-69PDF, released in August, the IRS extended the certification deadline from Aug. 17, 2009, to Oct. 17, 2009, and clarified the definition of “disconnected youth.” Revised Form 8850PDF , available on IRS.gov, is used by employers to request certification from their state workforce agency.
The American Recovery and Reinvestment Act, enacted in February, added unemployed veterans returning to civilian life and certain younger workers, referred to as disconnected youth, to the list of groups covered by the credit.
Normally, a business must file Form 8850 with the state workforce agency within 28 days after the eligible worker begins work. But under a special rule, businesses have until Oct. 17, 2009, to file this form for unemployed veterans and disconnected youth who begin work on or after Jan. 1, 2009 and before Sept. 17, 2009. The instructions for Form 8850PDF provide details on requesting the certification.
 
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2010 update: Pub. 919 no longer contains Worksheet 10. Eligible taxpayers may use Schedule L, Standard Deduction for Certain Filers, to figure their new motor vehicle sales tax deduction. Find it in Prior Year Forms & Pubs.
IR-2009-88, Oct. 7, 2009
WASHINGTON — With 2010 models arriving in dealer showrooms, the Internal Revenue Service reminds taxpayers that purchasing a new car, light truck, motor home or motorcycle could qualify them for a special deduction for the state and local sales and excise taxes on their 2009 tax returns.
Purchases made before Jan. 1, 2010, will qualify for this deduction under the American Recovery & Reinvestment Act of 2009 (ARRA).
The deduction is limited to the sales and excise taxes and similar fees paid on up to $49,500 of the purchase price of a new vehicle. The deduction is reduced for joint filers with modified adjusted gross incomes (MAGI) between $250,000 and $260,000 and other taxpayers with MAGI between $125,000 and $135,000. Taxpayers with higher incomes do not qualify.
Taxpayers who make qualifying new vehicle purchases this year can estimate the deduction with the help of Worksheet 10 in IRS Publication 919, How Do I Adjust My Withholding? Lines 10a to 10k of the worksheet show how to take into account purchases above the $49,500 limit, as well as the reduced deductions for taxpayers at higher income levels.
The special deduction is available regardless of whether taxpayers itemize deductions on their returns. Taxpayers who do not itemize will add this additional amount to the standard deduction on their 2009 tax return.
For those that have questions about the deduction for sales tax and other fees, these questions and answers might help. A videovideo on the IRS Youtube.com channel and audio podcasts in  English and Spanish are also available to help taxpayers take full advantage of the deduction.
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Overview of the Sales Tax Deduction for Vehicle Purchases



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IR-2009-30, Special Tax Break Available for New Car Purchases This Year


Seven Facts about the New Sales Tax Deduction


The American Recovery and Reinvestment Act of 2009: Information Center

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IR-2009-107, Nov. 23, 2009
WASHINGTON — The Internal Revenue Service today announced that interest rates for the calendar quarter beginning January 1, 2010, will remain the same as they were in the prior quarter.  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 October 2009 to take effect November 1, 2009, based on daily compounding.
Revenue Ruling 2009-37PDF, announcing the rates of interest, will appear in Internal Revenue Bulletin No. 2009-52, dated December 28, 2009.
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