| IR-2003-148 |
Dec. 29, 2003 |
| New Director Named for IRS Office of Professional Responsibility |
| As part of a broader effort to strengthen professional standards, IRS Commissioner Mark W. Everson announced today the selection of Cono Namorato as the Director of the Office of Professional Responsibility. |
| IR-2003-147 |
Dec. 29, 2003 |
| Treasury Issues Rules to Increase Transparency and Halt Abusive Tax Avoidance Transactions; Reins Tightened on Lawyers, Accountants, and Other Tax Advisers |
| Today the Treasury Department and the IRS issued four items of administrative guidance as part of their ongoing effort to halt abusive tax avoidance transactions and maximize effective use of IRS audit resources. The first of the items released today is aimed at strengthening the tax system through heightened standards for tax advisors. The other three are aimed at increasing transparency and disclosure of information to the IRS. Improved disclosure coupled with more effective use of the information disclosed are central to the Treasury Department and IRS´s strategy for identifying abusive tax avoidance transactions early and addressing them promptly. In addition, the transparency that disclosure brings serves as a deterrent to abusive tax avoidance transactions. |
| IR-2003-146 |
Dec. 23, 2003 |
| IRS Issues Guidelines for Tax-Exempt Groups Engaged in Public Advocacy |
| The Internal Revenue Service today reminded tax-exempt organizations that their public advocacy activity must adhere to tax rules as well as campaign-finance laws. |
| IR-2003-145 |
Dec. 23, 2003 |
| IRS and Gaming Industry Partner on Voluntary Tip Compliance Agreements |
| The Internal Revenue Service is expanding a new tip compliance agreement nationwide to the gaming industry. The agency encourages gaming industry employers to participate in the voluntary agreement and urges employees whose income includes tips to learn the benefits of participation. |
| IR-2003-144 |
Dec. 23, 2003 |
| Eileen T. Powell Appointed as IRS Chief Financial Officer |
| Internal Revenue Service Commissioner Mark W. Everson announced today the appointment of Eileen T. Powell as the agency´s Chief Financial Officer. |
| IR-2003-143 |
Dec. 23, 2003 |
| IRS Names Eight New Members to IRPAC |
| The Internal Revenue Service today announced the selection of eight new members for the Information Reporting Program Advisory Committee (IRPAC). The appointees will join 10 returning members who are in the second year of a three-year term. |
| IR-2003-142 |
Dec. 23, 2003 |
| IRS Names 11 New Members to IRSAC |
| The Internal Revenue Service announced the selection of 11 new members for the Internal Revenue Service Advisory Council (IRSAC). These appointees will join 11 returning members who are in the second year of a three-year term. The council will hold its first meeting on Feb. 3 and 4, 2004. The following people have been appointed to serve on the council: |
| IR-2003-141 |
Dec. 22, 2003 |
| IRS, Treasury Issue Notice Regarding Improper Deductions for Charitable Contributions of Patents and other Intellectual Property |
| Today the Internal Revenue Service and Treasury Department issued a notice to advise taxpayers that the IRS intends to disallow improper deductions for charitable contributions of patents and other intellectual property. Taxpayers claiming improper deductions may be subject to penalties. In addition, the notice advises promoters and appraisers that the IRS intends to review promotions of transactions involving these improper deductions and that promoters and appraisers also may be subject to penalties. |
| IR-2003-140 |
Dec. 17, 2003 |
| IRS Announces Revisions to ITIN Applications |
| The Internal Revenue Service today announced several steps to strengthen controls over the issuance of Individual Taxpayer Identification Numbers. The changes will help ensure that ITINs are issued for their intended tax administration purpose for administering the tax code and not for other reasons, such as providing personal identification. In addition, the IRS is taking steps to help ensure that applicants can continue to obtain ITINs without undue burden. |
| IR-2003-139 |
Dec. 15, 2003 |
| IRS Officials Urge Caution & Care for Those Making a Car Donation |
| The Internal Revenue Service issued a consumer alert today to help taxpayers avoid potential pitfalls when they donate their automobiles to charities. |
| IR-2003-138 |
Dec. 12, 2003 |
| No Change in Interest Rates for The First Quarter of 2004 |
| The Internal Revenue Service today announced there will be no change in the interest rates for the calendar quarter beginning Jan. 1, 2004. |
| IR-2003-137 |
Dec. 11, 2003 |
| IRS Names Director for International Tax Matters & U.S. Competent Authority |
| The Internal Revenue Service announced the selection of Robert H. Green to lead the agency´s efforts on international tax issues. |
| IR-2003-136 |
Dec. 8, 2003 |
| Businesses Using IRS.gov to Get Employer Identification Numbers |
| Businesses and tax professionals are turning to an online application form on IRS.gov to get new employer identification numbers. The Internal Revenue Service has issued more than 498,081 of the numbers through its online application since it became available in April. |
| IR-2003-135 |
Dec. 1, 2003 |
| Comprehensive Tax Guide Available at IRS.gov |
| The IRS comprehensive tax guide for individuals has been updated for tax year 2003 and is now available at IRS.gov. IRS Publication 17, “Your Federal Income Tax,’ has been published annually by the IRS for more than 60 years and has been available on the IRS Web site since 1996. |
| IR-2003-134 |
Dec. 1, 2003 |
| Simple Steps Can Help Taxpayers with Charitable Donations |
| As the end of the year approaches, the Internal Revenue Service reminds taxpayers that they may be able to use their gifts to tax-exempt charitable and religious groups to reduce their taxes. |
| FS-2003-18 |
Dec. 1, 2003 |
| Real Estate Fraud Investigations Increase |
| In recent years, the booming real-estate market has helped increase mortgage fraud and other phony real estate-related schemes. The perpetrators of these schemes range from mortgage brokers looking to make a fast buck to drug dealers laundering their illgotten gains. Every year, these fraudulent schemes victimize individuals and businesses from many walks of life, including struggling low-income families lured into home loans they can´t afford, legitimate lenders saddled with over-inflated mortgages and honest real-estate investors fleeced out of their investment dollars. |
| IR-2003-133 |
Nov. 25, 2003 |
| Taxpayers Must Update Addresses by Dec. 5 to Receive Child Credit Checks This Year |
| IRS Commissioner Mark W. Everson reminded taxpayers they have until Dec. 5 to claim undelivered checks from this summer´s advance child tax credit. After the December cut-off, taxpayers cannot claim the money until they file their tax returns next year. |
| IR-2003-132 |
Nov. 24, 2003 |
| IRS Helps Military Personnel Get New Law’s Tax Breaks |
| The Internal Revenue Service is helping taxpayers use a new law providing income exclusions for death benefit payments and certain home sales. Both provisions are retroactive, so some qualifying taxpayers must file amended returns to claim these tax breaks. The IRS asks them to put the words “Military Family Tax Relief Act” in red at the top of such returns to speed processing. |
| IR-2003-130 |
Nov. 10, 2003 |
| Time Running Short for 2003 Tax Moves |
| The Internal Revenue Service today reminded taxpayers they have less than eight weeks to make their final financial moves for the 2003 tax year. Taxpayers can take the first step toward advance tax planning by reviewing tax law changes featured on the IRS Web site, www.irs.gov. A little advance planning now could save taxpayers time – and perhaps even money – later. |
| IR-2003-129 |
Nov. 6, 2003 |
| IRS Seeks Nominations for TE/GE Advisory Committee |
| The Internal Revenue Service is seeking nominations for vacancies on the Advisory Committee on Tax Exempt and Government Entities (ACT), which provides a venue for public input into critical tax administrative areas. Vacancies exist in the following customer segments: employee plans (2 vacancies), exempt organizations (2 vacancies), federal, state and local governments (1 vacancy), Indian tribal governments (2 vacancies) and tax exempt bonds (1 vacancy). |
| IR-2003-128 |
Nov. 6, 2003 |
| IRS Launches First of Online Business Tools |
| The Internal Revenue Service has launched the first of a suite of Internet-based business tools that give tax professionals and financial institutions easier access to client information. |
| IR-2003-127 |
Nov. 3, 2003 |
| Some Refinancing Costs May Be Deductible |
| The Internal Revenue Service reminded taxpayers who took advantage of this year´s low interest rates to refinance their mortgages that they may be eligible to deduct some costs associated with their loans. |
| IR-2003-126 |
Oct. 28, 2003 |
| IRS Grants Tax Relief for Victims of California Wildfires |
| The Internal Revenue Service today announced special tax relief for Southern California residents in the Presidential Disaster Area that was struck by wildfires beginning Oct. 21, 2003. |
| IR-2003-125 |
Oct. 27, 2003 |
| Millions in Refund and Child Credit Checks Returned to IRS, Taxpayers Urged to Update Addresses by Dec.5 |
| IRS Commissioner Mark W. Everson reminded taxpayers they have until Dec. 5 to claim 115,744 undelivered checks from this summer´s advance child tax credit. After the December cut-off, taxpayers cannot claim the checks until they file their tax returns next year. |
| IR-2003-124 |
Oct. 23, 2003 |
| IRS Reminds Taxpayers of Application Fee for Offers in Compromise |
| Starting Nov. 1, 2003, the Internal Revenue Service will begin charging, with some exceptions, a $150 application fee to process offers in compromise. An offer in compromise (OIC) allows taxpayers to settle their tax liabilities for less than the full amount. |
| IR-2003-123 |
Oct. 16, 2003 |
| IRS Issues Summer 2003 Statistics of Income Bulletin |
| The Internal Revenue Service today announced the release of the Summer 2003 issue of the Statistics of Income Bulletin. It includes articles on sole proprietorship returns, corporation income tax returns, foreign-controlled domestic corporations, sales of capital assets reports on individual income tax returns, U.S. possessions corporation returns and foreign recipients of U.S. income. |
| IR-2003-122 |
Oct. 16, 2003 |
| IRS Announces Pension Plan Limitations for 2004 |
| The Internal Revenue Service today announced cost-of-living adjustments applicable to dollar limitations for pension plans and other items for Tax Year 2004. |
| IR-2003-121 |
Oct. 15, 2003 |
| 2004 Standard Mileage Rates Set — 800,000 More Businesses Eligible |
| The Internal Revenue Service today released the optional standard mileage rates to use for 2004 in computing the deductible costs of operating an automobile for business, charitable, medical or moving expense purposes. To reduce a recordkeeping burden, the IRS also announced that taxpayers who use no more than four vehicles at the same time for business purposes may use the standard mileage rate, starting in 2004. Currently, those using more than one vehicle at a time cannot use the standard rate at all, leaving them to track the actual expenses for each vehicle. |
| IR-2003-120 |
Oct. 14, 2003 |
| IRS, FTC and State Regulators Urge Care When Seeking Help from Credit Counseling Organizations |
| The Internal Revenue Service, the Federal Trade Commission and state regulators today issued a consumer alert for those seeking assistance from tax-exempt credit counseling organizations. |
| IR-2003-119 |
Oct. 9, 2003 |
| New IRS Fax Guidelines Ease Burden on Taxpayers |
| The Internal Revenue Service today announced new facsimile guidelines that will make it easier for taxpayers and tax professional to correspond with the agency. The new guidelines will expand the list of documents and information the IRS will accept via fax. |
| IR-2003-118 |
Oct. 8, 2003 |
| New IRS Material Helps Retirement Plans Stay Compliant |
| The Internal Revenue Service today released new materials, including a CD-ROM, to help small businesses and plan administrators understand how to keep employee retirement plans eligible for tax-favored status. |
| IR-2003-117 |
Oct. 8, 2003 |
| IRS Selects Carl T. Froehlich as Chief of Agency-Wide Shared Services |
| The Internal Revenue Service announced today the appointment of Carl T. Froehlich to head Agency-Wide Shared Services. AWSS develops procedures and implements policy for the IRS´s internal real estate and facilities management, EEO and Diversity, personnel, procurement and customer support activities. |
| IR-2003-116 |
Oct. 7, 2003 |
| The U.S. And The Netherlands Develop New Administrative Arrangements for Mutual Agreement Procedure |
| The competent authorities of the United States and the Netherlands have agreed to new Administrative Arrangements that outline guiding principles to follow when using the Mutual Agreement Procedure (the MAP) found in Article 29 of the U.S.-Netherlands income Tax Convention. The Arrangements were developed to ensure that the MAP process works as efficiently and effectively as possible. |
| IR-2003-115 |
Oct. 6, 2003 |
| Klotsche Named Senior Advisor |
| John C. Klotsche, a former chairman with leading international law firm Baker & McKenzie, will join the Internal Revenue Service to help coordinate the agency´s efforts to combat abusive tax shelters and improve enforcement processes. |
| IR-2003-114 |
Oct. 6, 2003 |
| 2004 Toyota Prius Certified for Clean-Burning Fuel Deduction |
| The Internal Revenue Service has certified the 2004 Toyota Prius as being eligible for the clean-burning fuel deduction. The certification means taxpayers who purchase a new hybrid vehicle may claim a tax deduction of up to $2,000 on Form 1040. |
| IR-2003-113 |
Oct. 2, 2003 |
| Tax Professionals to Send Some Returns Than Last Year to Different IRS Centers |
| The Internal Revenue Service is urging tax professionals to be aware of changes that will affect where they send tax returns and payments for clients in 10 states starting in 2004. The changes are a result of redistributing workload among the 10 IRS processing centers to provide better service. |
| FS-2003-17 |
Oct. 1, 2003 |
| IRS Takes Steps to Ensure Credit Counseling Organizations Comply With Requirements for Tax-Exempt Status |
| For decades, many organizations have provided valuable credit counseling and education that assist consumers in putting their personal finances in order. The Internal Revenue Service continues to view organizations that counsel and educate consumers as qualifying for tax exemption under Section 501(c)(3) of the Internal Revenue Code. |
| IR-2003-112 |
Sept. 24, 2003 |
| IRS Grants Tax Relief for Hurricane Isabel Victims |
| The Internal Revenue Service today announced special tax relief for residents in the Presidential Disaster Areas that were struck by Hurricane Isabel, beginning Sept. 18, 2003. This relief applies in the District of Columbia and parts of four states which the Federal Emergency Management Agency has declared eligible for individual assistance. |
| IR-2003-111 |
Sept. 16, 2003 |
| IRS and States Announce Partnership to Target Abusive Tax Avoidance Transactions |
| Internal Revenue Service and state tax officials today announced the establishment of a new nationwide partnership to combat abusive tax avoidance. Under agreements with individual states, the IRS will share information on abusive tax avoidance transactions and those taxpayers who participate in them. |
| IR-2003-110 |
Sept. 15, 2003 |
| Change in Interest Rates for the Fourth Quarter of 2003 |
| The Internal Revenue Service today announced there will be a change in the interest rates for the calendar quarter beginning October 1, 2003. |
| IR-2003-109 |
Sept. 15, 2003 |
| IRS Reminds Businesses of Retirement Plan Deadline |
| The Internal Revenue Service today reminded approximately 750,000 small and mid-size businesses using “off-the-shelf” retirement plan documents that they must update their plans by Sept. 30, 2003, to maintain the tax benefits. Businesses that act after the deadline must pay a compliance fee to avoid loss of tax benefits. |
| IR-2003-108 |
Sept. 3, 2003 |
| Over-the-Counter Drugs To Be Covered by Health Care Flexible Spending Accounts |
| Today, the Treasury Department and the IRS announced over-thecounter drugs can be paid for with pre-tax dollars through health care flexible spending accounts. Treasury and IRS issued guidance clarifying that reimbursements for nonprescription drugs by an employer health plan are excluded from income. Thus, reimbursements by health flexible spending arrangements (FSAs) and other employer health plans for the cost of over-the-counter drugs available without prescription are not subject to tax if properly substantiated by the employee. |
| IR-2003-107 |
Sept. 3, 2003 |
| IRS Selects Five New Members for Electronic Tax Administration Advisory Committee |
| The Internal Revenue Service today announced the selection of five new members for the Electronic Tax Administration Advisory Committee (ETAAC). The new members will serve concurrently with, and then replace, five current members whose terms end in 2003. |
| IR-2003-106 |
Sept. 2, 2003 |
| Teachers Should Save Receipts for Educators’ Deduction |
As the new school year begins, the Internal Revenue Service
reminds teachers and other educators to save their receipts for purchases of books and classroom supplies. These out-of-pocket expenses may lower their 2003 taxes. |
| IR-2003-105 |
Aug. 28, 2003 |
| New Law Allows Postponement of Portion of September 2003 Estimated Tax Installment for Corporations |
| Corporations making estimated tax payments may postpone part of their Sept. 15, 2003, payment due to a provision in the new tax law enacted in May. This law allows 25 percent of the September estimated installment to be made by Oct. 1, 2003. |
| IR-2003-104 |
Aug. 27, 2003 |
| U.S. & Austria Reach Agreement on Taxing Deferred Payments
to U.S. Citizens Residing in Austria |
| The U.S. and Austrian Competent Authorities have entered into a competent authority agreement. This agreement provides that the U.S.-Austria Income Tax Treaty signed on October 25, 1956, does not prohibit Austria from taxing deferred payments for services earned by U.S. citizens while working and residing in the United States, when such compensation was paid after these employees became residents of Austria. The agreement also confirms, however, that Austria shall deduct from its tax the amount of U.S. taxes imposed on the deferred payments for services, as required by the treaty. The 1956 income tax treaty is applicable for assessment periods up to and including 1998. |
| IR-2003-103 |
Aug. 22, 2003 |
| US, Swiss Competent Authorities Provide Guidance on Treaty Benefits |
| The U.S. and Swiss competent authorities concluded an agreement on August 20, 2003 regarding the Limitation on Benefits Article of the income tax treaty and accompanying Revised Memorandum of Understanding between the United States and the Swiss Confederation. The agreement provides guidance regarding application of the “derivative benefits” provisions of Article 22(3) of the treaty and paragraph 7 of the Revised MOU, under which a Swiss company may be entitled to treaty benefits based, in part, on the residence of its ultimate beneficial owners. |
| IR-2003-102 |
Aug. 20, 2003 |
| IRS Offers Weekly Electronic Newsletter for Tax Professionals |
| The IRS is now publishing the Digital Dispatch on a weekly basis instead of biweekly. By sending the e-mail dispatch out each week, the IRS can better help tax professionals stay current with important new developments. |
| IR-2003-101 |
Aug. 18, 2003 |
| IRS Selects Maya A. Bernstein as Privacy Advocate |
| The Internal Revenue Service announced today the appointment of Maya A. Bernstein as the agency´s Privacy Advocate. The Privacy Advocate develops policies to protect taxpayer and IRS employee privacy and ensures that they are integrated into all IRS practices and modernization efforts. The Privacy Advocate also ensures that taxpayers and employees are aware of their privacy rights. |
| IR-2003-100 |
Aug. 15, 2003 |
| IRS Grants Tax Relief to Power Blackout Victims |
| The Internal Revenue Service announced tax relief for those hit by the power blackout in the Northeastern United States. The IRS will consider as timely any tax returns or payments due from today through next Friday, Aug. 22, if they are completed by Aug. 22, 2003. However, the law does not allow the agency to abate interest on any overdue taxes during this period. |
| IR-2003-99 |
Aug. 15, 2003 |
| IRS Announces Application Fee for Offers in Compromise |
| Beginning November 1, 2003, the Internal Revenue Service will charge a $150 application fee for the processing of offers in compromise. The IRS expects that this fee will help offset the cost of providing this service, as well as reduce frivolous claims. |
| IR-2003-98 |
Aug. 8, 2003 |
| Taxpayers Can Track Advance Child Tax Credit Checks on IRS.gov |
| With the final set of advance child tax credit checks being mailed today, the IRS reminds taxpayers they can use IRS.gov to get information about the amount or status of their checks. People who filed after April 15 — for example, those with extensions — will get any advance payment they are entitled to receive after the IRS processes their 2002 return. |
| IR-2003-97 |
Aug. 5, 2003 |
| IRS to Launch EITC Certification Pilot Program In 2004 Filing Season |
| The Internal Revenue Service announced today it will launch the Earned Income Tax Credit certification pilot program in early 2004. The EITC program is aimed at rewarding work and helping families out of poverty. |
| FS-2003-16 |
Aug. 1, 2003 |
| Automotive Sales Industry |
| During the past three years, the Internal Revenue Service has seen an increase in scams and fraud involving the automotive sales industry. Some scam artists have knowingly assisted narcotics traffickers in laundering their ill-gotten gains, while others submit false loan documents to financial institutions to obtain car loans. |
| FS-2003-15 |
Aug. 1, 2003 |
| Health Coverage Tax Credit |
| The federal Health Coverage Tax Credit was created by the Trade Act of 2002 to help certain displaced workers and certain retirees pay for health insurance. Generally, those eligible to claim the credit fall into one of two categories: |
| IR-2003-96 |
July 31, 2003 |
| 8.5 Million Who Filed for Extensions Approach Aug. 15 Tax Deadline |
| Most taxpayers already have filed their tax year 2002 federal income tax returns. But for more than 8.5 million taxpayers, the deadline is August 15 if they opted for the automatic extension of time to file by completing Form 4868 by April 15. The Internal Revenue Service reminds taxpayers with extensions to file their returns by August 15 to avoid the late filing penalty, which is 5 percent per month of the unpaid tax. Help may be available, however, for people who cannot file by August 15. |
| IR-2003-95 |
July 30, 2003 |
| Offshore Compliance Program Shows Strong Results |
| The Internal Revenue Service continues to see a strong response to its Offshore Voluntary Compliance Initiative (OVCI), with more than $75 million in taxes collected so far. In addition, more than 400 offshore promoters were identified. Taxpayers had until April 15, 2003, to apply for OVCI. The program was designed to bring taxpayers who used offshore payment cards or other offshore financial arrangements to hide income back into compliance with U.S. tax laws. |
| IR-2003-94 |
July 25, 2003 |
| IRS Delays Launch of Key Technology Program Until 2004 Filing Season, Agency Selects Outside Firm to Review Program |
| The Internal Revenue Service announced today the delay of the first phase of the program to modernize its taxpayer master files, the Customer Account Data Engine (CADE), until the 2004 filing season. The first group of taxpayers, approximately 6 million 1040 EZ filers, was originally scheduled to move to the new system in 2001. “This most recent setback is a serious matter,” said IRS Commissioner Mark W. Everson. |
| IR-2003-93 |
July 24, 2003 |
| Matthews Selected as New Deputy Commissioner for Services and Enforcement |
| IRS Commissioner Mark W. Everson has selected Mark E. Matthews, a veteran of federal law enforcement and tax administration, to be the agency´s new Deputy Commissioner for Services and Enforcement. |
| IR-2003-92 |
July 24, 2003 |
| New Issues Selected for IRS Industry Issue Resolution Program |
| The Internal Revenue Service and the Treasury Department today announced new tax issues selected for resolution under the Industry Issue Resolution (IIR) Program. These issues have been identified by business taxpayers, industry associations, and other interested parties as being frequently disputed or burdensome. |
| IR-2003-91 |
July 24, 2003 |
| Advance Child Tax Credit Payments Begin Tomorrow |
| Tomorrow, the federal government will mail the first of more than 25 million checks provided under a recent tax law change. According to the Internal Revenue Service, the checks represent an advance of this year´s child tax credit increase and will go to most parents who claimed the credit on their 2002 returns. |
| IR-2003-90 |
July 21, 2003 |
| EFTPS-OnLine Gets Major Upgrade |
| The Internal Revenue Service announced today that the Internet version of the Electronic Federal Tax Payment System (EFTPS), the EFTPS-OnLine Web site, has undergone a major upgrade to include several new improvements to help taxpayers. |
| IR-2003-88 |
July 9, 2003 |
| IRS Guidance on Fiber Optic Cable for Cable TV Distribution System |
| Under the Industry Issue Resolution (IIR) Program, the Internal Revenue Service (IRS) today issued guidance on the treatment of fiber optic cable used in a cable television distribution system. |
| IR-2003-87 |
July 8, 2003 |
| Web Site for Political Organizations Improves Filing & Disclosure |
| The Internal Revenue Service has launched a new Web site that makes it easier for political organizations to electronically file required documents and greatly improves the public´s access to them. |
| IR-2003-86 |
July 7, 2003 |
| National Taxpayer Advocate Issues Annual Fiscal Year Objectives Report to Congress |
| In an annual report to Congress, National Taxpayer Advocate Nina E. Olson outlined her objectives for the Office of the Taxpayer Advocate for the coming fiscal year. |
| IR-2003-85 |
July 7, 2003 |
| IRS Names Beverly Babers as New Chief Human Capital Officer |
| The Internal Revenue Service announced today the selection of Beverly Ortega Babers as the new Chief Human Capital Officer. In this new position, Babers will report to John Dalrymple, Deputy Commissioner for Operations Support. |
| IR-2003-84 |
July 2, 2003 |
| IRS Announces Closing Agreement with Ernst & Young, LLP |
| The Internal Revenue Service today announced a closing agreement with Ernst & Young, LLP, resolving issues relating to an examination of Ernst & Young´s compliance with the registration and list maintenance requirements regarding the firm´s marketing of tax shelters. The agreement requires Ernst & Young to make a non-deductible payment of $15 million. |
| IR-2003-83 |
June 30, 2003 |
| IRS Urges Post April 15 Filers with Extensions to E-File |
| The Internal Revenue Service reminds taxpayers who have filing extensions that they can e-file their tax returns until October 15. |
| IR-2003-82 |
June 30, 2003 |
| IRS Names Beanna Whitlock Director of National Public Liaison |
| The Internal Revenue Service today announced the appointment of Beanna J. Whitlock as director of National Public Liaison, a division of the agency that serves as a vital link to tax professionals and practitioners, business associations, taxpayer assistance groups and federal agencies. |
| IR-2003-81 |
June 30, 2003 |
| IRS Reminds Some Businesses of Retirement Plan Deadline |
| The Internal Revenue Service today reminded approximately 750,000 small and mid-size businesses using “off-the-shelf” retirement plan documents that they must update their plans by Sept. 30, 2003. Businesses must formally adopt updates to maintain the tax benefits associated with retirement plans. |
| IR-2003-80 |
June 26, 2003 |
| IRS Issues Spring 2003 Statistics of Income Bulletin |
| The Internal Revenue Service today announced the release of the Spring 2003 issue of the Statistics of Income Bulletin. It includes articles on selected income and other tax return information for the 400 individual income tax returns reporting the highest adjusted gross incomes (AGI) for Tax Years 1992 through 2000, individual returns for 2000 with income of $200,000 or more, S corporation returns, split-interest trust information returns, and “unrelated business income” reported by tax-exempt organizations. |
| IR-2003-79 |
June 18, 2003 |
| New Tax Scam Targets Potential Recipients of Advance Child Tax Credit |
| The Internal Revenue Service today issued a consumer alert, warning taxpayers about a new scam targeting potential recipients of the Advance Child Tax Credit. |
| IR-2003-78 |
June 13, 2003 |
| IRS Announces Steps to Improve EITC Administration, Seeks Public Comment |
| IRS Commissioner Mark W. Everson today announced steps to improve the administration of the Earned Income Tax Credit (EITC). These steps are designed to both improve service to eligible EITC taxpayers and to reduce erroneous claims by taxpayers who do not meet the eligibility standards established by Congress. |
| IR-2003-77 |
June 13, 2003 |
| IRS Web Site Offers Identification Numbers for Businesses |
| The Internal Revenue Service now lets businesses obtain identification numbers directly from its Web site. After the taxpayer completes an application form online, the system issues an employer identification number (EIN) that may be used immediately. |
| IR-2003-76 |
June 11, 2003 |
| Lower Estimated Tax Payments May Start Next Week |
| Self-employed persons, investors, and others who make estimated tax payments can start benefiting from the lower tax rates and other changes made by the new tax law next Monday, June 16, when they make their second quarterly payment. By using the new provisions to refigure their projected 2003 income tax, many will be able to reduce their payments for the rest of the year. |
| IR-2003-75 |
June 9, 2003 |
| No Change in Interest Rates for the Third Quarter of 2003 |
| The Internal Revenue Service today announced there will be no change in the interest rates for the calendar quarter beginning July 1, 2003. |
| IR-2003-74 |
June 4, 2003 |
| IRS Helps Small Business Retirement Plans Stay Compliant |
| The Internal Revenue Service moved today to make it easier for retirement plans to stay within complex rules and to reduce barriers that discourage some businesses, particularly small businesses, from adopting such employee benefits. |
| IR-2003-73 |
June 3, 2003 |
| IRS Announces New Tax Exempt Bond Pilot Program to Mediate & Speed Up Resolution Disputes |
| The Internal Revenue Service today launched a pilot program to expedite the resolution of cases under examination in the IRS Tax Exempt Bond organization. The IRS believes the program, which uses the services of trained mediators to help resolve factual disputes between bond issuers and the IRS, will provide significant benefits both to issuers and the IRS. |
| IR-2003-72 |
June 3, 2003 |
| IRS Issues “Fast Track” Guidance to Help Taxpayers |
| The Internal Revenue Service issued guidance today to make permanent two programs that allow taxpayers and the IRS to reach agreement on tax disputes more quickly. The IRS also announced a pilot program to expedite the resolution of Tax Exempt Bond disputes. |
| IR-2003-71 |
June 3, 2003 |
| DeNard Named Director of Financial Services |
| The Internal Revenue Service announced today the selection of Paul D. DeNard as Industry Director of Financial Services, Large and Mid-Size Business Division. |
| IR-2003-70 |
June 3, 2003 |
| Petrella Named Director of Heavy Manufacturing and Transportation |
| The Internal Revenue Service announced today the selection of John Petrella Jr. as Industry Director of Heavy Manufacturing and Transportation, Large and Mid-Size Business Division. |
| FS-2003-14 |
June 1, 2003 |
| EITC Reform Initiative |
| The Internal Revenue Service (IRS) is responsible for administering the Earned Income Tax Credit (EITC), which is a refundable Federal income tax credit for low-income working individuals and families. Congress originally approved the tax credit legislation in 1975, in part to offset the burden of social security taxes and give these individuals an incentive to work. Since its adoption in 1975, the amount of the EITC has increased in dollar amount, as well as in the number of individuals and families benefiting from it. |
| IR-2003-69 |
May 28, 2003 |
| New Withholding Tables on IRS Web Site Reflect Tax Law’s Changes |
| The Internal Revenue Service today posted to its Web site at www.irs.gov new tables for employers to use in figuring how much federal income tax to withhold from workers´ wages. |
| IR-2003-68 |
May 28, 2003 |
| Taxpayers to Receive Advance Child Tax Credit This Summer |
| Beginning the last week of July, eligible taxpayers who claimed the Child Tax Credit on their 2002 tax returns will automatically receive an advance payment of the 2003 increase in this credit, the Treasury Department and Internal Revenue Service announced today. |
| IR-2003-67 |
May 22, 2003 |
| Everson Realigns Commissioner’s Office, Fills Critical Vacancies |
| In his third week on the job, Internal Revenue Service Commissioner Mark W. Everson has realigned the agency´s management structure and filled several key executive vacancies. |
| IR-2003-66 |
May 15, 2003 |
| IRS Clarifies Tax Treatment of Various Medical Expenses |
| In two rulings issued today, the Internal Revenue Service clarified the tax treatment of certain medical expenses. The guidance affects the ability of taxpayers to claim these expenses when itemizing deductions. |
| IR-2003-65 |
May 9, 2003 |
| IRS Chief Counsel Office Selects Harry J. Hicks to be Associate Chief Counsel (International) |
| The Internal Revenue Service Office of Counsel announced today the selection of Harry J. (“Hal”) Hicks, III for the position of Associate Chief Counsel (International). Hicks will join the Office on June 9, 2003, and will serve as Acting Associate Chief Counsel (International) during the approval process. |
| IR-2003-64 |
May 8, 2003 |
| IRS Provides Guidance on Gasoline Station Pump Canopies |
| Using the Industry Issue Resolution (IIR) Program, the Internal Revenue Service today issued new guidance on the treatment of gasoline station pump canopies. |
| IR-2003-63 |
May 8, 2003 |
| New Tax Scams Surface |
| Although the federal tax filing season ended on April 15, the Internal Revenue Service continues to see new tax scams. Two new schemes target families of those serving in the Armed Forces and e-mail users. In both schemes, people represent themselves as being from the IRS. |
| IR-2003-62 |
May 7, 2003 |
| IRS’s TE/GE Advisory Committee to Hold Public Meeting, Names New Members |
| The Internal Revenue Service´s Advisory Committee on Tax Exempt and Government Entities (ACT) will hold a public meeting May 21, 2003, from 9:00 a.m. to 4:00 p.m. at the Treasury Executive Institute, located in the U.S. Mint Federal Building, 801 9 th Street, NW., Washington, DC. |
| IR-2003-61 |
May 5, 2003 |
| IRS Chief Counsel Office Selects Robert M. Brown as Associate Chief Counsel (Income Tax & Accounting) |
| The Internal Revenue Service Office of Chief Counsel announced today the selection of Robert M. Brown for the position of Associate Chief Counsel (Income Tax & Accounting). Brown will join the office on May 12, 2003, and will serve as Acting Associate Chief Counsel (Income Tax & Accounting) until his approval process is complete. |
| IR-2003-60 |
May 2, 2003 |
| Statement by Mark W. Everson |
| I want to thank the members of the Senate and the Senate Finance Committee, particularly Senators Grassley and Baucus. And I, of course, want to thank President Bush for his nomination and support as well as Treasury Secretary Snow. |
| IR-2003-59 |
May 2, 2003 |
| IRS Sets New Tax Filing Season Records |
| The Internal Revenue Service announced that its recently completed tax season was a solid success, with new records being set in several key areas, including e-filing, home computer use, web usage and refunds. |
| IR-2003-58 |
May 1, 2003 |
| Early Data Show Strong Response to Offshore Initiative; Applicants Owe Millions, Reveal Scores of Promoters |
| The Internal Revenue Service announced today the recently completed Offshore Voluntary Compliance Initiative led to more than 1,200 people stepping forward to participate. A partial analysis of some of the cases has already identified more than $50 million in uncollected taxes and 80 new offshore promoters. |
| IR-2003-57 |
May 1, 2003 |
| IRS Accepting Grant Applications for Low Income Taxpayer Clinics |
| The National Taxpayer Advocate, Nina Olson, announced today that the 2004 Low Income Taxpayer Clinic (LITC) grant application process is now open. |
| FS-2003-13 |
May 1, 2003 |
| Advance Child Tax Credit Payments |
| About 25 million taxpayers may be eligible for an advance payment of an increase to the Child Tax Credit. The Jobs and Growth Tax Relief Reconciliation Act of 2003 raised the Child Tax Credit to a maximum of $1,000 per child from $600 per child, beginning in 2003. The Act also provided for immediate tax relief by directing the Treasury to send this increase to taxpayers this year. Eligible taxpayers could receive up to $400 for each child claimed on their 2002 returns as an advance payment of their 2003 Child Tax Credit. |
| FS-2003-12 |
May 1, 2003 |
| The Medical Profession and Tax Schemes |
| Scam artists and scheme promoters often prey on busy professionals who don't have a lot of time to focus on their finances. As a result, the IRS has seen an increase in tax fraud in the professional community, including individuals in the healthcare/medical profession. |
| IR-2003-56 |
April 24, 2003 |
| Free File & IRS e-file Available through Oct. 15 |
| The Internal Revenue Service reminded taxpayers today that Free File, the tax preparation and electronic filing service, remains available for people who received filing extensions. More than 2.7 million taxpayers used Free File during the regular filing season. |
| IR-2003-55 |
April 23, 2003 |
| IRS Releases Tax-Exempt Governmental Bonds Compliance Guide |
| The Internal Revenue Service recently posted a new Tax-Exempt Governmental Bonds Compliance Guide, Publication 4079, on the IRS website at www.irs.gov/bonds. The new on-line guide provides state and local governments with an overview of the requirements under federal tax law that generally apply to municipal financing arrangements commonly known as governmental bonds. The guide, which will be available in hard copy at a later date, is the first of three educational publications directed toward issuers of tax exempt bonds. |
| IR-2003-54 |
April 21, 2003 |
| IRS Hosts Revamped Nationwide Tax Forums |
| For the thirteenth year in a row, the Internal Revenue Service is hosting the IRS Nationwide Tax Forums to help educate and serve the tax practitioner community. The three-day forums are offered in July, August and September. |
| IR-2003-53 |
April 18, 2003 |
| IRS Issues Winter 2003 Statistics of Income Bulletin |
| The Internal Revenue Service today announced the release of the Winter 2003 issue of the Statistics of Income Bulletin. The Bulletin contains a preliminary look at the 130.5 million individual income tax returns filed for Tax Year 2001. The number of returns filed increased 0.9 percent over returns filed in Tax Year 2000. Adjusted gross income less deficit (AGI) decreased 2.3 percent to $6.2 trillion for 2001. Taxable income declined 5.2 percent to $4.3 trillion. Total income tax decreased 8.6 percent to $892.3 billion, and the alternative minimum tax (AMT) fell 32.5 percent to $6.0 billion. |
| IR-2003-52 |
April 17, 2003 |
| Revised Industry Issue Resolution Program Procedures Published Next Selections Made from Requests Received by May 15, 2003 |
| The Internal Revenue Service has published revised procedures for the Industry Issue Resolution (IIR) Program. Under the revised procedures, business taxpayers, industry associations and other interested parties can submit frequently disputed or burdensome business tax issues at any time for possible resolution under the program. |
| IR-2003-51 |
April 15, 2003 |
| Tax Day Reminder: Treasury & IRS Continue Crackdown on Abusive Tax Shelters |
| As part of a comprehensive strategy to ensure all taxpayers pay their fair share, the Treasury Department and the Internal Revenue Service are moving aggressively to combat abusive tax avoidance transactions. |
| IR-2003-50 |
April 11, 2003 |
| Taxpayers Face Several April 15 Deadlines; Time Running Out For Some Unclaimed Refunds, Last Chance To Apply For Offshore Compliance Initiative |
| As April 15 draws near, the Internal Revenue Service reminds taxpayers that this year´s Tax Day represents several important deadlines. |
| IR-2003-49 |
April 10, 2003 |
| ITIN Applicants Must Use New Form Starting April 15 |
| The Internal Revenue Service reminds resident and non-resident aliens applying for an Individual Taxpayer Identification Number to use the newly revised Form W-7 beginning April 15. |
| IR-2003-48 |
April 10, 2003 |
| IRS & FinCEN Announce Latest Efforts to Crack Down on Tax Avoidance through Offshore Accounts |
| Officials of the Internal Revenue Service and the Financial Crimes Enforcement Network (FinCEN) announced today they have signed a memorandum of agreement under which FinCEN delegates its enforcement authority for Foreign Bank and Financial Account reporting to the IRS. |
| IR-2003-47 |
April 8, 2003 |
| IRS Offers Tips for Last-Minute Filers |
| The Internal Revenue Service has some tips for those hurrying to finish their tax forms – double-check your return for accuracy, use the free IRS resources if you need tax help, consider electronic options for filing and paying, and don´t miss the filing deadline – Tuesday, April 15. |
| IR-2003-46 |
April 7, 2003 |
| States Back Offshore Compliance Effort; Key States Extend Benefits for those Who Apply by April 15 |
| As the deadline for the Internal Revenue Service´s Offshore Voluntary Compliance Initiative (OVCI) draws near, 10 states have announced they will grant special consideration to taxpayers who apply to the initiative. |
| IR-2003-45 |
April 4, 2003 |
| IRS Targets Abusive Employee Leasing Arrangements |
| The Internal Revenue Service and the Treasury Department are warning taxpayers against participating in certain offshore deferred compensation arrangements involving domestic and foreign employee leasing companies. |
| IR-2003-44 |
April 4, 2003 |
| IRS Implements Fast Track to Settle Tax Disputes |
| Today the Internal Revenue Service made permanent “Fast Track Settlement” (FTS), a process for large corporations to settle tax disputes before the audit on their return is complete. The IRS Large and Mid-Size Business Division and the Office of Appeals offer a joint process that uses Appeals personnel as mediators in LMSB cases. |
| IR-2003-43 |
April 3, 2003 |
| IRS Provides Help to Get Tax Assistance to Military Families; New Web Page Created for U.S. Armed Services |
| The Internal Revenue Service has created a new section on its Web site containing important information to help ensure members of the U.S. Armed Forces serving in a combat zone get all of the tax benefits available to them. The new information is available on the front page of IRS.gov by clicking on “Armed Forces Tax Benefits.” |
| IR-2003-42 |
April 2, 2003 |
| IRS Offers Options When Tax Day Is “Pay” Day |
| If the tax filing deadline will be a “pay” day for you, the Internal Revenue Service offers several options to help you meet your obligation. It also has an installment program for those who cannot pay the full amount now. |
| FS-2003-11 |
April 1, 2003 |
| Information for Taxpayers Serving in the Armed Forces |
| The Internal Revenue Service reminds taxpayers serving in the military to take advantage of all tax exclusions and filing and payment extensions available to them. |
| IR-2003-41 |
March 31, 2003 |
| IRS Suggests Ten Ways to Avoid Problems at Tax Time |
| For taxpayers looking for ways to avoid the last-minute rush for preparing and filing tax returns, the Internal Revenue Service offers these tips. |
| IR-2003-40 |
March 27, 2003 |
| IRS Urges Taxpayers to Avoid Last Minute Filing; Tips to Avoid the Rush of the April 15th Deadline |
| The Internal Revenue Service today urged taxpayers to avoid the stress of filing their returns at the eleventh hour and offered tips to help taxpayers beat the crush of the April 15 deadline. |
| IR-2003-39 |
March 25, 2003 |
| Two Million Taxpayers Use Free File; New Program Surpasses Expectations |
| Free File – the new program offered by the Internal Revenue Service and the tax software industry – logged more than 2 million users who prepared and e-filed their tax returns as of last week. The free service has surpassed expectations by government and industry. |
| IR-2003-38 |
March 21, 2003 |
| IRS Issues 2002 Data Book |
| The Internal Revenue Service has issued the new 2002 IRS Data Book, which includes a variety of numbers related to tax administration. These range from numbers of tax returns filed to examination and collection numbers. |
| IR-2003-37 |
March 21, 2003 |
| U.S. & Netherlands Reach Agreement on Pension Funds |
| The Competent Authorities of the United States and the Kingdom of the Netherlands have entered into a mutual agreement to clarify the entitlement of exempt pension funds to benefits under the Convention between the United States of America and the Kingdom of the Netherlands for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income, signed on December 18, 1992, and amended by Protocol signed on October 13, 1993. |
| IR-2003-36 |
March 18, 2003 |
| Filing Extensions Readily Available by Phone or Computer (Revised – 3/27/03) |
| People who need more time to complete their forms will find it easy to extend their filing deadline – they don´t need an excuse, or even a stamp. |
| IR-2003-35 |
March 17, 2003 |
| Offshore Voluntary Compliance Initiative has Month to Go; People Need to Apply Directly to Receive Penalty Relief |
| Internal Revenue Service officials today reminded people that time is running short for those who have used offshore payment cards or other offshore financial arrangements to avoid U.S. taxes and who want to take advantage of the Offshore Voluntary Compliance Initiative (OVCI). Individuals need to apply directly to OVCI to receive the initiative´s penalty relief. |
| IR-2003-34 |
March 13, 2003 |
| IRS Provides Internet Link for Suggestions to the Taxpayer Advocate |
| The National Taxpayer Advocate announced today the development of a new Internet-based program for submitting, to her office of Systemic Advocacy, systemic problems and suggestions to improve tax administration. The program provides another way for taxpayers to make suggestions or bring issues to the attention of IRS management. |
| IR-2003-33 |
March 12, 2003 |
| Strong Growth in Computer Returns & Federal/State E-File |
| The Internal Revenue Service continues to receive more tax returns electronically, with especially big increases in taxpayers e-filing from their own computers – almost 7 million, up nearly 30 percent over this time last year – and for those e-filing federal and state returns together – more than 14.4 million, up 14 percent. |
| IR-2003-32 |
March 12, 2003 |
| Pacific Association of Tax Administrators Finalizes Transfer Pricing Documentation |
| The Internal Revenue Service announced today that the Pacific Association of Tax Administrators (PATA) has finalized a Transfer Pricing Documentation Package. |
| IR-2003-31 |
March 12, 2003 |
| IRS Web Site Helps Students Understand U.S. Tax System |
| The Internal Revenue Service today announced a new educational site for high school and other students on its Web site at IRS.gov. Called “Understanding Taxes,” this Internet-based, interactive program about taxation replaces print materials previously provided to teachers each year by the IRS. The new program offers teachers more flexibility in a modern format. |
| IR-2003-30 |
March 11, 2003 |
| No Change in Interest Rates for the Second Quarter of 2003 |
| The Internal Revenue Service today announced that interest rates for the calendar quarter beginning April 1, 2003, will remain the same as the first quarter of the year. |
| IR-2003-29 |
March 11, 2003 |
| New Electronic Options Available for Self-Employed & Small Business Taxpayers |
| The Internal Revenue Service today urged self-employed and small business taxpayers to consider IRS e-file and numerous other new electronic options available to them for the first time this year. The expanded options are part of IRS´s effort to enhance electronic filing opportunities to business taxpayers. |
| IR-2003-28 |
March 11, 2003 |
| Frivolous Appeals to Delay Collection Actions Bring Stiff Tax Court Penalties |
| Thirty-eight persons who attempted to delay tax collections by pursuing frivolous court cases ended up with $126,000 in penalties during the last two years. The Internal Revenue Service warns that the Tax Court may impose sanctions of up to $25,000 on those who misuse their right to a court review of IRS collection procedures merely to stall their tax payments. |
| IR-2003-27 |
March 10, 2003 |
| IRS Issues Tips on Completing Schedules K-1; Matching Program Resumes with Improvements |
| The Internal Revenue Service today issued tips to taxpayers and tax professionals to help avoid errors related to Schedules K-1 used to report income from partnerships, S corporations and some trusts. Accurate filing of the forms is important as the IRS renews a program matching income from Schedules K-1 to other tax returns. |
| IR-2003-26 |
March 7, 2003 |
| New Suspicious Activity Report Form Required for Money Service Businesses |
| Businesses that issue or redeem money orders or traveler´s checks are now required to use a new form to report suspicious activities to the IRS. These money service businesses (MSBs) that must use the new form also include businesses that transmit money. |
| IR-2003-25 |
March 6, 2003 |
| Tax Professionals Can Now E-File Employment Tax Forms |
| Tax professionals are able to file employment taxes for business clients for the first time as part of a new Employment Tax e-filing System offered by the Internal Revenue Service. |
| IR-2003-25 |
March 6, 2003 |
| Tax Professionals Can Now E-File Employment Tax Forms |
| Tax professionals are able to file employment taxes for business clients for the first time as part of a new Employment Tax e-filing System offered by the Internal Revenue Service. |
| IR-2003-24 |
March 5, 2003 |
| IRS.gov Use Hits Record Levels |
| Taxpayers have made IRS.gov the Internet´s most visited resource for tax forms, refund information and free electronic filing, with more than 1.4 billion hits and more than 195 million forms and publications downloaded so far this filing season. |
| IR-2003-23 |
March 4, 2003 |
| IRS Increases Criminal Investigations of Tax Return Preparers; Taxpayers Advised to Use Care in Selecting Preparers (Corrected – 7/10/03) |
| The Internal Revenue Service more than doubled the number of criminal investigations of preparers of federal tax returns in 2002 compared to the previous fiscal year, according to figures released by IRS Criminal Investigation. |
| IR-2003-22 |
March 3, 2003 |
| IRS & Telmundo Host Program for Spanish-Language Taxpayers |
| To improve service to Spanish-language taxpayers, the Internal Revenue Service announced today that it has joined with the nationwide Spanish-language Telemundo Network to host a special, one-hour tax program on March 8. |
| FS-2003-10 |
March 1, 2003 |
| Return Preparer Fraud - Significant Cases |
| The Internal Revenue Service more than doubled the number of criminal investigations of preparers of federal tax returns in 2002 compared to the previous fiscal year, according to figures released by IRS Criminal Investigation. |
| IR-2003-21 |
Feb. 25, 2003 |
| Free File Tops 1.3 Million Returns |
| More than 1 million people have prepared and e-filed their taxes by using Free File, the new public-private partnership between the Internal Revenue Service and a consortium of tax software companies that offer free services to eligible taxpayers. |
| IR-2003-20 |
Feb. 24, 2003 |
| IRS Reduces Burden for Family Day Care Providers |
| The Internal Revenue Service announced today that family day care providers may now choose to use a standardized rate to claim the deduction for meals provided to children in their care instead of keeping detailed records and receipts of food purchased for use in their business. Use of the standardized rate will significantly reduce the recordkeeping burden of family day care providers. |
| IR-2003-19 |
Feb. 20, 2003 |
| Three Million Use IRS.GOV to Check on Refunds |
| Three million taxpayers looking for their share of $54 billion in refunds have used the “Where´s My Refund?” service on IRS.gov to check the status of their refund, the Internal Revenue Service said today. |
| IR-2003-18 |
Feb. 19, 2003 |
| IRS Updates the ‘Dirty Dozen’ for 2003: Agency Warns of 12 Common Scams |
| In an update of an annual consumer alert, the Internal Revenue Service urged taxpayers to avoid falling victim to one of the “Dirty Dozen” tax scams. In the new 2003 ranking, several new scams have reached the top of the consumer watch list, including offshore banking and identity theft schemes. |
| IR-2003-17 |
Feb. 13, 2003 |
| Early Tax Returns Reflect E-Filing’s Growing Popularity |
| The Internal Revenue Service said today that this year´s early filers are following a familiar pattern – more electronic transactions and fewer paper ones. More than 16 million returns – nearly 80 percent of those received as of Feb. 7 – arrived electronically. |
| IR-2003-16 |
Feb. 12, 2003 |
| New Post Created to Assist Crack Down on Abusive Transactions; Denovio Selected as Senior Counsel |
| Internal Revenue Service officials announced today the creation of a new senior executive position within the Office of Chief Counsel to focus on potentially abusive tax avoidance transactions. Washington attorney Nicholas J. DeNovio has been selected to fill this post. |
| IR-2003-15 |
Feb. 12, 2003 |
| IRS Again Updates Web Item Debunking Frivolous Tax Arguments |
| The Internal Revenue Service has again updated its Web site document addressing false arguments about the legality of not paying taxes or filing returns. The revisions add citations from several cases decided by the courts during 2002 and respond to one additional argument, making a total of 21 frivolous contentions that are addressed. |
| IR-2003-14 |
Feb. 10, 2003 |
| Where’s Your Refund? Find Out Online at IRS.GOV |
| With the peak period for tax refunds approaching this month, the Internal Revenue Service encouraged people to try a new Internet-based service that provides a quick, easy and safe way to check the status of their refund. The service is called “Where´s My Refund?” and it´s available on the IRS Web site – www.irs.gov. |
| IR-2003-13 |
Feb. 6, 2003 |
| IRS Has $2.5 Billion for Individuals Who Failed to File 1999 Returns |
| Unclaimed refunds totaling more than $2.5 billion are awaiting about 1.9 million people who failed to file a 1999 income tax return, the Internal Revenue Service announced today. However, in order to collect the money, a return must be filed with an IRS office no later than April 15, 2003. |
| IR-2003-12 |
Jan. 30, 2003 |
| More People, Especially Military, Eligible for EITC; Volunteers, IRS.Gov Stand Ready to Help |
| The Internal Revenue Service today reminded taxpayers that changes in the Earned Income Tax Credit law will expand the number of low-income working taxpayers, especially military personnel, who qualify for tax relief. The IRS urged taxpayers to review EITC requirements to determine their eligibility. |
| IR-2003-11 |
Jan. 27, 2003 |
| Nancy J. Jardini Named Deputy Chief of Criminal Investigation |
| The Internal Revenue Service announced today the selection of Nancy J. Jardini as Deputy Chief of Criminal Investigation (CI), the agency´s law enforcement arm. |
| IR-2003-10 |
Jan. 27, 2003 |
| IRS Reminds Taxpayers to Mail Returns to the Correct Address |
| As taxpayers begin to prepare their tax returns, the Internal Revenue Service reminds them that they may be sending their returns to a different service center than last year. However, those who received a tax instruction booklet from the IRS in the mail and use the labels included with the booklet can be assured that their tax returns will go to the correct address. |
| IR-2003-09 |
Jan. 23, 2003 |
| IRS Offers New, Expanded Subscription Services on IRS.gov; New Features Created for Tax Professionals, Taxpayers |
| The Internal Revenue Service has launched a new and expanded e-subscription service available through IRS.gov for taxpayers, tax professionals, small business owners and the news media. |
| IR-2003-08 |
Jan. 22, 2003 |
| IRS Provides Inventory Valuation Method for The Automotive Remanufacturing Industry |
| The Internal Revenue Service today issued guidance that provides an inventory valuation method for rebuildable motor vehicle cores. In the remanufacturing industry, worn or used parts (cores) are rebuilt when received from customers and other sources. |
| IR-2003-07 |
Jan. 21, 2003 |
| IRS Reminds Farmers that National Tobacco Settlement Payments are Taxable Each Year |
| Landowners, producers and tobacco quota owners who receive money from the National Tobacco Settlement Trust must report those payments as income each year, the Internal Revenue Service said today. |
| IR-2003-11 |
Jan. 16, 2003 |
| IRS Reminds Taxpayers to Mail Returns to the Correct Address |
| As taxpayers begin to prepare their tax returns, the Internal Revenue Service notes that some may be sending their returns to a different service center than last year. Those who received a tax instruction booklet from the IRS in the mail and use the labels included with the booklet can be assured that their tax returns will go to the correct address. Taxpayers who e-file are not affected by these changes. |
| IR-2003-06 |
Jan. 16, 2003 |
| Most Americans Now can Prepare & File Their Taxes Online for Free; Treasury, OMB, IRS Launch New Free File Website |
| Today the Treasury Department, Office of Management and Budget (OMB) and the Internal Revenue Service (IRS) launched a new Web site featuring private-sector partners that will allow most taxpayers to prepare and file their taxes online for free. A substantial majority of citizens will be eligible to use this service at www.irs.gov or through www.firstgov.gov. |
| IR-2003-05 |
Jan. 14, 2003 |
| IRS Unveils Offshore Voluntary Compliance Initiative; Chance for ‘Credit-Card Abusers’ to Clear Up their Tax Liabilities |
| Internal Revenue Service officials today announced the launch of an initiative aimed at bringing taxpayers who used “offshore” payment cards or other offshore financial arrangements to hide their income back into compliance with tax law. |
| IR-2003-04 |
Jan. 9, 2003 |
| IRS Announces January 10 First Day of E-File Season |
| The Internal Revenue Service announced today that taxpayers can begin e-filing their individual income tax returns Friday, January 10, 2003. “Choosing IRS e-file is the quick, easy and smart way to get your taxes done,” said Terry Lutes, Director of Electronic Tax Administration. |
| IR-2003-03 |
Jan. 8, 2003 |
| IRS Establishes Office of Professional Responsibility |
| The Internal Revenue Service announced today the creation of a new Office of Professional Responsibility as part of its ongoing modernization effort and the appointment of Brien Downing as director. |
| IR-2003-02 |
Jan. 6, 2003 |
| IRS National Taxpayer Advocate Releases Annual Report to Congress |
| National Taxpayer Advocate Nina Olson today released a report to Congress that emphasizes the importance of taxpayer rights in promoting taxpayer respect for and compliance with the tax system. Taxpayer access to IRS information and services is a key ingredient in protecting taxpayer rights. The report identifies navigating the IRS as the number one problem faced by both individuals and business owners. |
| IR-2003-01 |
Jan. 2, 2003 |
| 2003 Filing Season Begins with New Features on IRS.Gov |
| Americans will find new Web site features, expanded free e-filing options and more helpful services as the Internal Revenue Service opens the 2003 tax filing season. Taxpayers also will see reduced tax rates, more deductions and fewer forms to file. |
| FS-2003-09 |
Jan. 1, 2003 |
| IRS Reminds Taxpayers of Earned Income Tax Credit Eligibility |
| Low-income taxpayers may qualify for the Earned Income Tax Credit, a federal tax credit for individuals and families who meet certain income and eligibility guidelines. The EITC reduces the amount of taxes owed and may result in a refund check. The credit, created in 1975, is intended to offset the cost of Social Security taxes and to provide an incentive to work. Many taxpayers who qualify for EITC may also be eligible for free tax preparation and electronic filing by participating tax professionals and volunteers. |
| FS-2003-08 |
Jan. 1, 2003 |
| IRS Details Free File Initiative; Millions Eligible for Free Online Preparation and e-Filing |
| The majority of American taxpayers will be eligible for free online tax preparation and free electronic filing through a partnership agreement between the Internal Revenue Service and the Free File Alliance, LLC, a private-sector consortium of tax software companies. |
| FS-2003-07 |
Jan. 1, 2003 |
| E-Payment Options for 2003 |
| Taxpayers can pay taxes electronically by authorizing an electronic funds withdrawal from a checking or savings account or by using a credit card. |
| FS-2003-06 |
Jan. 1, 2003 |
| 2003 IRS e-file |
| More and more Americans are choosing e-file, which lets them easily file an accurate tax return or get an extension of time to file without sending any paper to the Internal Revenue Service. |
| FS-2003-05 |
Jan. 1, 2003 |
| 2002 Tax Changes for Business Taxpayers |
| Starting with the 2002 tax year, companies with less than $250,000 of total receipts and less than $250,000 in assets no longer have to complete Schedules L, M-1 and M-2 of Form 1120; Parts III and IV of Form 1120-A; and Schedules L and M-1 of Form 1120S. |
| FS-2003-04 |
Jan. 1, 2003 |
| 2002 Tax Changes: IRAs / Retirement Plans |
| Taxpayers will find many changes affecting their retirement planning as a result of the Economic Growth and Tax Relief Reconciliation Act of 2001 and regulations issued during 2002. They may be able to contribute more to retirement plans, get larger tax benefits for doing so and have more options for handling plan distributions. Higher Contribution Limits for IRAs, Employer Plans |
| FS-2003-03 |
Jan. 1, 2003 |
| 2002 Tax Changes: Education Incentives |
| Taxpayers do not have to itemize deductions on Schedule A to claim the three deductions described below. Each is an adjustment to income on the first page of either Form 1040 or 1040A. These deductions are not available on Form 1040EZ. |
| FS-2003-02 |
Jan. 1, 2003 |
| 2002 Tax Changes: Individuals |
| The following changes are among the most significant affecting individual taxpayers in the 2003 filing season. |
| FS-2003-01 |
Jan. 1, 2003 |
| Free Tax Help Available |
| The IRS offers free assistance by computer, telephone, fax and in person. The IRS can assist taxpayers with obtaining forms, publications and answers to a wide range of tax questions. The IRS can also help find free tax preparation for those who qualify. |
