| FS-2008-26 |
December 2008 |
| IRS Reminder: Make Use of Recent Tax Law Changes for 2008 and December 31 Is the Last Day for Most of These Actions |
| Tax year 2008 is quickly nearing an end. The Internal Revenue Service reminds taxpayers to avoid putting off important financial tasks until the last minute. The important deadline of December 31 is fast approaching for many tax-planning issues. |
| IR-2008-144 |
December 19, 2008 |
| IRS Names Seven New Members to IRPAC |
| The Internal Revenue Service today announced the selection of seven new members for the Information Reporting Program Advisory Committee. The appointees will join 27 returning members who are in the second year or third year of a three-year term. |
| IR-2008-143 |
December 19, 2008 |
| IRS’ January Tax Talk Today Focuses on Filing Season |
| The Internal Revenue Service’s next Tax Talk Today program, “Getting Ready for Filing Season 2009 -- Individual and Business,” will be Tuesday, Jan. 13, at 2 p.m. This special, 100-minute program will give tax preparers a head start on the 2009 filing season. |
| IR-2008-142 |
December 17, 2008 |
| Comprehensive Tax Guide Available for Free at IRS.gov |
| The IRS has placed its comprehensive tax guide for individuals on IRS.gov, updating it for tax year 2008. The updated on-line version of IRS Publication 17, “Your Federal Income Tax,” contains more than 900 interactive links. |
| IR-2008-141 |
December 16, 2008 |
| IRS Speeds Lien Relief for Homeowners Trying to Refinance, Sell |
| The Internal Revenue Service today announced an expedited process that will make it easier for financially distressed homeowners to avoid having a federal tax lien block refinancing of mortgages or the sale of a home. |
| IR-2008-140 |
December 11, 2008 |
| Retirement Plans for Public Schools and Exempt Organizations Get Extension on Time to Complete Written Plans |
| The IRS issued a notice today announcing relief for certain retirement plans that do not have a written plan in place by January 1, 2009. The new guidance is for retirement plans covering employees at public schools, colleges and universities, and other tax exempt organizations. These retirement plans are often referred to as 403(b) plans after the relevant section in the tax code. |
| IR-2008-139 |
December 10, 2008 |
| Interest Rates Drop for the First Quarter of 2009 |
| The Internal Revenue Service today announced in Revenue Ruling 2008-54 that interest rates for the calendar quarter beginning Jan. 1, 2009 will drop by one percentage point. |
| IR-2008-138 |
December 9, 2008 |
| IRS Offers Tips for Year-End Donations |
| Individuals and businesses making contributions to charity should keep in mind several important tax law provisions that have taken effect in recent years. |
| IR-2008-137 |
December 8, 2008 |
| Remarks of Commissioner Douglas Shulman before the 21st Annual George Washington University International Tax Conference |
| Thank you for that kind introduction and warm welcome. It’s a pleasure and an honor to be in the company of so many experts as we discuss some of the emerging trends in international tax administration and what we are doing both domestically and globally to respond to them. |
| IR-2008-136 |
December 5, 2008 |
| Curtis G. Wilson Named Associate Chief Counsel (Passthroughs and Special Industries) |
| The Internal Revenue Service announced the appointment of Curtis G. Wilson to the position of Associate Chief Counsel (Passthroughs and Special Industries). |
| IR-2008-135 |
December 1, 2008 |
| IRS Announces Two New Appeals Programs |
| The Internal Revenue Service today announced a two-year test of two programs: the post-Appeals mediation and arbitration procedures for Offer in Compromise (OIC) and Trust Fund Recovery Penalty (TFRP). |
| IR-2008-134 |
December 1, 2008 |
| Plan Now to Get Full Benefit of Saver’s Credit; Tax Break Helps Low- and Moderate-Income Workers Save for Retirement |
| Low- and moderate-income workers can take steps now to save for retirement and earn a special tax credit in 2008 and the years ahead, according to the Internal Revenue Service. |
| IR-2008-133 |
November 25, 2008 |
| New Law Encourages Cash Donations for Midwest Disaster Relief |
| Taxpayers who make qualifying cash contributions for disaster relief efforts in the Midwest could benefit from a recently passed law that suspends the percentage-of-income limits that would normally apply when taxpayers deduct the contributions on their 2008 federal tax returns. |
| IR-2008-132 |
November 24, 2008 |
| IRS Issues Fall 2008 Statistics Of Income Bulletin |
| The Internal Revenue Service today released the fall 2008 issue of the Statistics of Income Bulletin, which features information on 138.4 million individual income tax returns filed for tax year 2006. |
| IR-2008-131 |
November 24, 2008 |
| IRS Announces 2009 Standard Mileage Rates |
| The Internal Revenue Service today issued the 2009 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on January 1, 2009, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 55 cents per mile for business miles driven, 24 cents per mile driven for medical or moving purposes, 14 cents per mile driven in service of charitable organizations |
| IR-2008-130 |
November 19, 2008 |
| 2008 IRSAC Report Made Available at Public Meeting |
| The Internal Revenue Service Advisory Council (IRSAC) today released its recommendations on a wide range of tax administration issues at the 2008 public meeting in Washington, DC. |
| IR-2008-129 |
November 17, 2008 |
| Terence V. Milholland to Serve as IRS Chief Technology Officer |
| Internal Revenue Service Commissioner Douglas Shulman today announced the appointment of Terence (Terry) V. Milholland as the agency’s new Chief Technology Officer (CTO). |
| IR-2008-128 |
November 5, 2008 |
| For Individual and Business e-File, 2008 Is a Record Breaker |
| Individual taxpayers e-filed almost 90 million tax returns during 2008, an increase of more than 12 percent over the prior year. Of the 155 million tax returns filed, about 58 percent were filed electronically. |
| IR-2008-127 |
November 10, 2008 |
| IRS Announces 2009 VITA Grant Recipients |
| The Internal Revenue Service has awarded almost $8 million in matching grants to support its Volunteer Income Tax Assistance program. |
| IR-2008-126 |
October 31, 2008 |
| IRS Seeks Applications for TE/GE Advisory Committee |
| The Internal Revenue Service seeks applications for vacancies on the Advisory Committee on Tax Exempt and Government Entities (ACT), which provides the IRS with public comments regarding critical tax administration matters. |
| IR-2008-125 |
October 29, 2008 |
| New Members and a Chairman for ETAAC |
| The Internal Revenue Service announced the selection of five new members and the new chairman for the Electronic Tax Administration Advisory Committee (ETAAC). |
| IR-2008-124 |
October 29, 2008 |
| 2008 IRPAC Report Made Available at Public Meeting |
| The Information Reporting Program Advisory Committee (IRPAC) today released the advisory group’s recommendations on a wide range of tax administration issues. |
| IR-2008-123 |
October 23, 2008 |
| IRS Seeks to Return $266 Million in Undeliverable Refunds And Economic Stimulus Payments to Taxpayers |
| The Internal Revenue Service
is looking for taxpayers who are missing more than 279,000 economic stimulus checks totaling about $163 million and more than 104,000 regular refund checks totaling about $103 million that were returned by the U.S. Postal Service due to mailing address errors. |
| IR-2008-122 |
October 21, 2008 |
| Chris Wagner Named Commissioner of Small Business, Self Employed Division; Faris Fink Named SB/SE Deputy Commissioner |
| The Internal Revenue Service announced the appointments of Christopher Wagner as the commissioner of the agency’s Small Business and Self Employed Division (SB/SE), and Faris Fink as the deputy commissioner. |
| IR-2008-121 |
October 21, 2008 |
| IRS Sees Strong Response to LILO / SILO Settlement Offer |
| The Internal Revenue Service today announced a strong turnout by corporate taxpayers seeking to settle Lease-In/Lease-Out (LILO) and Sale-in/Sale-Out (SILO) transactions. |
| IR-2008-120 |
October 17, 2008 |
| IRS and GWU Host 21rst Annual International Tax Conference |
| Senior law professors from The George Washington University Law School will join with officials from the Treasury Department , the IRS, a representative from the OECD and representatives of the tax authorities of foreign governments to discuss significant tax compliance and treaty issues at the 21rst Annual Institute on Current Issues in International Taxation. |
| IR-2008-119 |
October 17, 2008 |
| IRS’s November Tax Talk Today Looks at Form 990 Changes |
| The Internal Revenue Service’s next Tax Talk Today Web cast on Tuesday, November 4, at 2 p.m. focuses on “Preparing for the New Form 990.” |
| IR-2008-118 |
October 16, 2008 |
| IRS Announces Pension Plan Limitations for 2009 |
| The Internal Revenue Service today announced cost-of-living adjustments applicable to dollar limitations for pension plans and other items for tax year 2009. |
| IR-2008-117 |
October 16, 2008 |
| 2009 Inflation Adjustments Widen Tax Brackets and Expand Tax Benefits |
| For 2009, personal exemptions and standard deductions will rise and tax brackets will widen because of inflation adjustments announced today by the Internal Revenue Service. |
| IR-2008-116 |
October 16, 2008 |
| IRS Proposes Changes to Improve Withholding by Certain Foreign Financial Institutions for U.S. Taxpayers |
| The Internal Revenue Service has announced proposed amendments to improve the Qualified Intermediary (QI) program for certain foreign financial institutions serving taxpayers with accounts outside of the United States. |
| IR-2008-115 |
October 10, 2008 |
| Hurricane Grant Guidelines Now Available |
| The Internal Revenue Service today released a notice designed to help eligible homeowners who received federal reimbursement grants stemming from Hurricanes Katrina, Rita or Wilma take advantage of a new tax provision. |
| IR-2008-114 |
October 8, 2008 |
| October 15 Deadline Approaches for Retirees and Disabled Veterans |
| Only days remain until the October 15 deadline for retirees and disabled veterans to file an income tax return that will allow them to receive an economic stimulus payment this year. |
| IR-2008-113 |
October 6, 2008 |
| Vehicles Certified as Qualified Advanced Lean-Burn Technology Vehicles |
| The Internal Revenue Service has acknowledged the certifications by manufacturers that certain advanced lean-burn technology vehicles qualify for the alternative motor vehicle tax credit. |
| IR-2008-112 |
October 1, 2008 |
| RS Sends Compliance Questionnaires to 400 Colleges and Universities |
| Summary Goes Here |
| IR-2008-111 |
October 1, 2008 |
| Fourth Quarter 2008 Interest Rates Effective Today |
| The Internal Revenue Service has announced in Revenue Ruling 2008-47 that interest rates for the calendar quarter beginning October 1, 2008 will increase by one percentage point. |
| IR-2008-110 |
September 25, 2008 |
| The IRS Will Address Technical Terminations of Certain Publicly Traded Partnerships |
| The Internal Revenue Service announced today that it plans to issue guidance regarding technical terminations of a publicly traded partnership (PTP) resulting in multiple short tax years within one calendar year. |
| IR-2008-109 |
September 23, 2008 |
| October 15 Deadline Nears; Don’t Let Stimulus Payment Pass You by |
| The October 15 deadline to file a 2007 income tax return and to receive an economic stimulus payment this year is fast approaching. |
| IR-2008-108 |
September 18, 2008 |
| Louisiana Hurricane Ike Victims Qualify for IRS Disaster Relief |
| Louisiana taxpayers who were adversely affected by Hurricane Ike qualify for tax relief from the Internal Revenue Service, including the postponement of tax filing and payment deadlines until January 5, 2009. |
| IR-2008-107 |
September 18, 2008 |
| Texas Hurricane Ike Victims Qualify for IRS Disaster Relief |
| Texas taxpayers who were adversely affected by Hurricane Ikequalify for tax relief from the Internal Revenue Service, including the postponement of tax filing and payment deadlines until January 5, 2009. |
| IR-2008-106 |
September 16, 2008 |
| Tax Credit to Aid First-Time Homebuyers; Must Be Repaid Over 15 Years |
| First-time homebuyers should begin planning now to take advantage of a new tax credit included in the recently enacted Housing and Economic Recovery Act of 2008. |
| IR-2008-105 |
September 12, 2008 |
| IRS Gives Taxpayers in Area Threatened by Ike Until September 22 To File Corporate and Individual Estimated Taxes |
| Taxpayers and tax preparers affected in coming days by Hurricane Ike will have an extra seven days to file corporate tax returns and third-quarter estimated taxes otherwise due on Monday, September 15, 2008, the Internal Revenue Service announced today. |
| IR-2008-104 |
September 11, 2008 |
| IRS Settlement Announcement |
| The Internal Revenue Service today announced that it has reached a settlement with Arnold & Porter LLP, which has paid a civil tax shelter promoter penalty. |
| IR-2008-103 |
September 9, 2008 |
| People Can Avoid Common Errors that Delay Stimulus Payments |
| People who are awaiting an economic stimulus payment or who have yet to file can avoid common errors that may delay their payment. They also can use the IRS Web site to answer most common questions. |
| IR-2008-102 |
September 8, 2008 |
| IRS Streamlines Application Process for New Tax-Exempt Organizations |
| The Internal Revenue Service and the Treasury Department today issued new regulations that will streamline the approval process for organizations seeking tax-exempt status as publicly supported charities. |
| IR-2008-101 |
September 4, 2008 |
| IRS Hiring of Military Veterans Surpasses Goal |
| The Internal Revenue Service today announced that it has met its goal of hiring at least 1,000 military veterans this fiscal year, and the agency will continue to focus its recruitment efforts toward this important group. |
| IR-2008-100 |
September 3, 2008 |
| Hurricane Gustav Victims Qualify for IRS Disaster Relief |
| The Internal Revenue Service is providing tax relief to victims of Hurricane Gustav in affected areas of Louisiana. |
| IR-2008-99 |
August 25, 2008 |
| September Tax Talk Today Highlights EITC Due Diligence Rules |
| The Internal Revenue Service’s next Tax Talk Today Web cast on Tuesday, September 9, 2008 at 2 p.m. focuses on “EITC Due Diligence - It’s Your Responsibility.” |
| IR-2008-98 |
August 19, 2008 |
| IRS Issues Instructions for New Form 990 |
| The Internal Revenue Service released the revised instructions that tax-exempt organizations will need to fill out the redesigned Form 990, which must be filed starting with tax year 2008 (filed in 2009). |
| IR-2008-97 |
August 18, 2008 |
| IRS Issues Summer 2008 Statistics Of Income Bulletin |
| The Internal Revenue Service today released the summer 2008 issue of the Statistics of Income Bulletin, which features tax year 2005 data on the growth in profits and tax liability reported by foreign-controlled domestic corporations. |
| IR-2008-96 |
August 14, 2008 |
| IRS Revises Voluntary Correction Program for Retirement Plans |
| The Internal Revenue Service today issued updated guidance on the voluntary correction program for employee retirement plans – the Employee Plans Compliance Resolution System (EPCRS). |
| IR-2008-95 |
August 11, 2008 |
| Commissioner Shulman Names Dick Harvey as Senior Advisor |
| IRS Commissioner Doug Shulman today named J. Richard (Dick) Harvey Jr. as senior advisor to the commissioner. Harvey will assume his post September 2. |
| IR-2008-94 |
August 7, 2008 |
| Taxpayers with 25 or More Heavy Vehicles Now Must File Excise Tax Forms Electronically |
| Individuals and organizations with 25 or more trucks, tractors or other heavy vehicles used on highways now are required to make their excise tax filings with the Internal Revenue Service electronically, rather than by paper. |
| IR-2008-93 |
August 7, 2008 |
| IRS Seeks New Issues for the Industry Issue Resolution Program |
| Businesses and associations have until August 31 to submit tax issues to the Internal Revenue Service to be included in the Fall 2008 review in the Industry Issue Resolution (IIR) Program. |
| FS-2008-25 |
August 2008 |
| Wage Compensation for S Corporation Officers |
| Corporate officers are specifically included within the definition of employee for FICA (Federal Insurance Contributions Act), FUTA (Federal Unemployment Tax Act) and federal income tax withholding under the Internal Revenue Code. When corporate officers perform services for the corporation, and receive or are entitled to receive payments, their compensation is generally considered wages. Subchapter S corporations should treat payments for services to officers as wages and not as distributions of cash and property or loans to shareholders. |
| FS-2008-24 |
July 2008 |
| Avoiding Incorrect Self-Employed Retirement Deductions |
| Retirement plans are not just for big businesses. They are also available for sole proprietorships. If you are self-employed small business owner, you can set up a qualified retirement plan for yourself and your employees. |
| IR-2008-92 |
July 30, 2008 |
| IRS Releases Updated Drafts of Corporate and Partnership Tax Forms |
| The Internal Revenue Service today reminded qualifying retirees and veterans that it is not too late to file for an economic stimulus payment and announced it will send a second set of information packets to 5.2 million people who may be eligible but who have not yet filed for their stimulus payment. |
| IR-2008-91 |
July 21, 2008 |
| IRS Sending Stimulus Payment Information to Retirees, Veterans |
| The Internal Revenue Service today reminded qualifying retirees and veterans that it is not too late to file for an economic stimulus payment and announced it will send a second set of information packets to 5.2 million people who may be eligible but who have not yet filed for their stimulus payment. |
| IR-2008-90 |
July 18, 2008 |
| Commissioner Doug Shulman Discusses 10-Year Anniversary of the IRS Restructuring and Reform Act of 1998 |
| Good morning. I would like to thank Chris Bergin for the opportunity to be here today to discuss the IRS Restructuring and Reform Act. I greatly enjoyed my work on the Restructuring Commission, and it is a real pleasure to see here today so many familiar faces from that time – even if we all look a little older. |
| IR-2008-89 |
July 14, 2008 |
| Victims of Floods, Storms and Tornadoes In Six States Now Have Until August 29 to File Certain Returns |
| The Internal Revenue Service is postponing until August 29 the time to file certain tax returns, to make certain tax payments and to perform time-sensitive acts for storm, flood, and tornado victims in presidential disaster areas in six states, mostly in the Midwest. |
| IR-2008-88 |
July 10, 2008 |
| Scammers Use e-Mail, Fax to Pose as IRS |
| The Internal Revenue Service cautions taxpayers to be on the lookout for a new wave of scams using the IRS name in identity theft e-mails, or phishing, that have circulated during the last two months. |
| IR-2008-87 |
July 8, 2008 |
| National Taxpayer Advocate Releases Report to Congress; Identifies Priority Challenges and Issues for Upcoming Year |
| National Taxpayer Advocate Nina E. Olson today delivered a report to Congress that identifies the priority issues the Office of the Taxpayer Advocate will address in the coming fiscal year. Among the key areas of focus will be improving IRS procedures to protect victims of tax-related identity theft and expanding outreach and education to individuals who have lost their homes to foreclosure concerning the “cancellation of debt” tax consequences they face. |
| IR-2008-86 |
July 3, 2008 |
| IRS’s July Tax Talk Today: “Retirement Plan Pitfalls” |
| The Internal Revenue Service’s Tax Talk Today program returns on Tuesday, July 8, 2008 at 2 p.m. with a Web cast on “Retirement Plan Pitfalls.” |
| IR-2008-85 |
July 2, 2008 |
| IRS Seeking Applications for New VITA Grant |
| The Internal Revenue Service is now accepting applications for the first-ever Volunteer Income Tax Assistance (VITA) matching grant program. The application period for 2009 is from July 1 through September 2, 2008. |
| FS-2008-23 |
June 2008 |
| Is Your Hobby a For-Profit Endeavor? |
| IRS reminds taxpayers to follow appropriate guidelines when determining whether an activity is engaged in for profit or as a hobby. |
| FS-2008-21 |
June 2008 |
| Business Provisions of the Economic Stimulus Act of 2008 |
| The Economic Stimulus Act of 2008 contains two provisions that provide tax benefits for businesses. The first provision increases the limit up to which a business can expense property purchased and placed in service during its 2008 tax year. The second provision provides an additional 50 percent special depreciation allowance for property acquired and placed in service during calendar year 2008. |
| IR-2008-84 |
June 30, 2008 |
| Filing Extensions Changing for Some Business Taxpayers Later this Year |
| Internal Revenue Service officials today announced a change in the extended due date on certain business returns to help individuals better meet their filing obligations. The change, which reduces the extension period from six to five months, eases the burden on taxpayers who must report information from Schedules K-1 and similar documents on their individual tax returns. |
| IR-2008-83 |
June 27, 2008 |
| IRS Electronic Advisory Committee Delivers Report to Congress |
| The Electronic Tax Administration Advisory Committee (ETAAC) recently presented its 2008 Annual Report to Congress. The report includes 21 recommendations on a wide range of issues that pertain to individual filers and business, such as modernized e-File and web services. |
| IR-2008-82 |
June 23, 2008 |
| IRS Increases Mileage Rates through December 31, 2008 |
| The Internal Revenue Service today announced an increase in the optional standard mileage rates for the final six months of 2008. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. |
| IR-2008-81 |
June 19, 2008 |
| Low-Income Housing Limits to Be Waived in Indiana and Iowa |
| The Internal Revenue Service today announced that it will waive certain limitations for the low-income housing tax credit in Indiana and Iowa so that owners of facilities in these states can provide housing to victims of recent storms and flooding. |
| IR-2008-80 |
June 19, 2008 |
| IRS Launches Summer Push to Reach Retirees and Disabled Veterans Who Have Yet to File for Their Economic Stimulus Payments |
| The Internal Revenue Service today announced a new summer campaign to reach those retirees and disabled veterans who qualify for the economic stimulus payment but have not filed to claim it. New statistics released today indicate about 74 percent in this group are accounted for in the stimulus payments currently being sent, leaving about 5.2 million potential recipients remaining. |
| IR-2008-79 |
June 17, 2008 |
| IRS Reminds Taxpayers to Report Certain Foreign Bank and Financial Accounts by June 30 |
| The Internal Revenue Service today reminded U.S. persons who have bank and other financial accounts in a foreign country that they may be required to report those accounts to the U.S. Department of Treasury by the June 30 deadline. |
| IR-2008-78 |
June 16, 2008 |
| IRS Gives Storm Victims More Time to File and Pay; Taxpayers in Parts of 10 States Qualify |
| Victims of storms and flooding in 10 states will have more time to make quarterly estimated tax payments normally due today, according to the Internal Revenue Service |
| IR-2008-77 |
June 6, 2008 |
| IRS Adds Functions to Online Payment Agreement Application |
| The Internal Revenue Service today introduced several new features to the interactive Online Payment Agreement application , which will make it easier for taxpayers and their authorized representatives to make changes to existing installment agreements. |
| IR-2008-76 |
June 2, 2008 |
| Interest Rates Drop for the Third Quarter of 2008 |
| The Internal Revenue Service today announced that interest rates for the calendar quarter beginning July 1, 2008, will drop by one percentage point. The new rates will be: * five (5) percent for overpayments [four (4) percent in the case of a corporation]; * five (5) percent for underpayments; * seven (7) percent for large corporate underpayments; and * two and one-half (2.5) percent for the portion of a corporate overpayment exceeding $10,000. |
| FS-2008-22 |
May 2008 |
| Choosing a Business Structure |
| Of all the choices you make when starting a business, one of the most important is the type of legal organization you select for your company. This decision can affect how much you pay in taxes, the amount of paperwork your business is required to do, the personal liability you face and your ability to borrow money. Business formation is controlled by the law of the state where your business is organized. |
| IR-2008-75 |
May 29, 2008 |
| IRS Announces Public Meeting of ACT, Names New Members |
| The Advisory Committee on Tax Exempt and Government Entities (ACT) will hold a public meeting next month to present to the Internal Revenue Service recommendations on ways to improve operations regarding employee retirement plans, tax-exempt organizations, tax-exempt bonds and federal, state, local and Indian tribal governments. |
| IR-2008-74 |
May 28, 2008 |
| IRS Accepting Applications for Low Income Taxpayer Clinic Grants |
| National Taxpayer Advocate Nina E. Olson announced today that the 2009 Low Income Taxpayer Clinic (LITC) grant application process is now open. |
| IR-2008-73 |
May 28, 2008 |
| IRS e-file Up Sharply in 2008 |
| The Internal Revenue Service’s e-file program set another record in the just-finished 2008 filing season, while Web page visits to IRS.gov also reached new highs in part due to interest in economic stimulus payments. |
| IR-2008-72 |
May 23, 2008 |
| IRS Issues Spring 2008 Statistics of Income Bulletin |
| The Internal Revenue Service today released the spring 2008 issue of the Statistics of Income Bulletin, featuring preliminary data from the 138.4 million individual tax returns filed for tax year 2006. This issue also features data on high-income returns filed for tax year 2005. |
| IR-2008-71 |
May 13, 2008 |
| IRS Reminds Small Tax-Exempt Organizations of the First Filing Date for the e-Postcard Electronic Notice |
| The Internal Revenue Service today reminded small tax-exempt organizations of their new annual electronic filing requirement as the first filing deadline of May 15 approaches. Organizations can file by going to the appropriate page on this Web site. |
| 2008-Shulman-2 |
May 9, 2008 |
| Remarks of IRS Commissioner Douglas Shulman before the American Bar Association |
| Good morning and thank you for that kind introduction and that warm welcome. I have been on the job for just over a month, and as I look back on my relatively short tenure, my one regret is that I did not follow the advice of several former IRS Commissioners to whom I spoke. |
| IR-2008-70 |
May 7, 2008 |
| IRS Has Answers to Questions People Are Asking About Economic Stimulus Payments; IRS Urges People to Visit IRS.gov |
| As millions of Americans begin receiving their economic stimulus payments, the Internal Revenue Service released a list of the most-frequently-asked questions –– and answers –– that people now are asking. |
| IR-2008-69 |
May 1, 2008 |
| IRS Seeks New Members of Advisory Council |
| The Internal Revenue Service today announced it seeks applications for its broad-based private-sector advisory panel, the Internal Revenue Service Advisory Council (IRSAC), which provides important feedback and recommendations regarding tax administration. |
| FS-2008-20 |
April 2008 |
| Tax Challenges of Business Income |
| IRS research shows that much of the tax gap results from under reporting of small business income. |
| IR-2008-68 |
April 30, 2008 |
| Relief for Stimulus Payments Withdrawn from IRAs and Tax-Favored Accounts |
| Economic stimulus payments directly deposited into IRAs and other tax-favored accounts may be withdrawn tax-free and penalty-free, the Internal Revenue Service announced today. |
| IR-2008-67 |
April 30, 2008 |
| May’s Tax Talk Today Features “The Electronic IRS...more than just e-file” |
| The Internal Revenue Service’s next Web cast aimed at educating tax and payroll professionals will provide the latest news and information on e-file, e-services and other electronic tools important to the practitioner community. |
| IR-2008-66 |
April 28, 2008 |
| Economic Stimulus Payments on the Way; Some People Will See Direct Deposit Payments Today |
| The Internal Revenue Service has begun to transfer economic stimulus payments to millions of Americans, some of whom will see payments in their bank accounts as early as today. |
| IR-2008-65 |
April 23, 2008 |
| Retirees, Disabled Vets Still Can File for 2008 Stimulus Payments |
| Even though April 15 has passed, the Internal Revenue Service today reminded retirees, disabled veterans and others who normally do not file a tax return that there is still time to submit a 2007 form to receive an economic stimulus payment. |
| IR-2008-64 |
April 22, 2008 |
| Taxpayers Can Check Their Refund Status with “Where’s My Refund?” |
| Taxpayers who have filed their federal income tax returns and are expecting their refunds can use the Internal Revenue Service’s online tool, “Where’s My Refund?,” to check on the status of their refunds. |
| IR-2008-63 |
April 22, 2008 |
| IRS Launches Campaign to Help New Small Businesses |
| The Internal Revenue Service today launched a campaign to help educate new self-employed small business owners about federal tax responsibilities. |
| IR-2008-62 |
April 18, 2008 |
| Treasury, IRS Solicit Recommendation for 2008-2009 Guidance Priority List |
| The Department of Treasury and Internal Revenue Service invite public comment on recommendations for items that should be included on the 2008-2009 Guidance Priority List. |
| IR-2008-61 |
April 17, 2008 |
| IRS Continues Program on Political Campaign Activity by Charities; Stresses Education and Enforcement |
| The Internal Revenue Service today announced its Political Activities Compliance Initiative (PACI) once again will be in effect for the 2008 election season. The PACI program seeks to educate section 501(c)(3) organizations such as charities and churches about the federal law concerning political campaign activity and to enforce the law in this area. |
| IR-2008-60 |
April 15, 2008 |
| IRS Issues Draft Instructions for 2008 Form 990 |
| The Internal Revenue Service recently released for public comment the draft instructions to the 2008 Form 990, which is the return most tax-exempt organizations must file annually. |
| IR-2008-59 |
April 11, 2008 |
| IRS Offers Last Minute Reminders |
| Now that the April 15 tax return filing and tax payment deadline is nearing, the Internal Revenue Service offers the following last-minute tips for those taxpayers who haven’t yet filed, paid what they owe or taken the necessary steps to ensure they receive the economic stimulus payment they qualify for. |
| IR-2008-58 |
April 11, 2008 |
| IRS To Issue Guidance on Special 50-Percent Depreciation Allowance |
| The IRS announced today that it will issue guidance for businesses on how the special 50 percent depreciation allowance that was included in the Economic Stimulus Act of 2008 can be used to make capital investments this year. Until the guidance is issued, businesses may rely on the regulations previously issued regarding bonus depreciation. |
| IR-2008-57 |
April 7, 2008 |
| Free Help Available for Certain Taxpayers, Retirees and Disabled Vets; IRS Continues Efforts to Reach People for Stimulus Payments |
| With the April 15 tax filing deadline quickly approaching, the Internal Revenue Service today reminded taxpayers that free help is available and announced extended hours at some locations. |
| IR-2008-56 |
April 7, 2008 |
| Payment Options Available for Those Who Can’t Pay in Full |
| The Internal Revenue Service reminds taxpayers who owe but can’t pay in full that several options are available to help them meet their tax obligations and save money by the April 15 filing deadline. |
| IR-2008-55 |
April 3, 2008 |
| IRS Urges Taxpayers To e-file Extension Requests by April 15 Filing Deadline |
| The Internal Revenue Service today urged taxpayers who need additional time to complete their tax returns to submit their requests for an automatic extension electronically by April 15. E-filing a request for an extension is convenient, safe and secure, and taxpayers receive confirmation to keep with their records. |
| IR-2008-54 |
April 2, 2008 |
| IRS Chief Counsel Selects David Hasen as 2008-2009 Professor in Residence |
| Internal Revenue Service Chief Counsel Donald L. Korb has selected David Hasen as the 2008-2009 Professor in Residence. |
| IR-2008-53 |
April 2, 2008 |
| IRS Economic Stimulus Payment Information Now in Spanish |
| The Internal Revenue Service today reminded taxpayers and tax-preparation volunteers that information about the economic stimulus payment is available in Spanish. |
| IR-2008-52 |
April 2, 2008 |
| IRS Seeks Nominations for Information Reporting Program Advisory Committee |
| The Internal Revenue Service is requesting membership nominations for the Information Reporting Program Advisory Committee. The deadline for submitting applications is May 30, 2008. |
| FS-2008-19 |
March 2008 |
| Avoiding Penalties and the Tax Gap |
| The Internal Revenue Code imposes many different kinds of penalties, ranging from civil fines to imprisonment for criminal tax evasion. |
| FS-2008-17 |
March 12, 2008 |
| Low-Income Individuals with No Filing Obligations May Still Qualify for Economic Stimulus Payments |
| Many low-income people are eligible to receive an economic stimulus payment from the federal government this year of $300 to $600 plus $300 per qualifying child. |
| FS-2008-16 |
February 2008 |
| Stimulus Payments: Instructions for Low-Income Workers and Recipients of Social Security and Certain Veterans’ Benefits |
| Some low-income workers and recipients of Social Security, certain veterans’ benefits and certain Railroad Retirement benefits may qualify for economic stimulus payments this year from the federal government. |
| IR-2008-51 |
March 27, 2008 |
| Tips for Tax Filers on Economic Stimulus Payments |
| The Internal Revenue Service today urged taxpayers eligible for the economic stimulus payment to file their tax return now in order to get their payment in a timely manner. |
| IR-2008-50 |
March 24, 2008 |
| IRS Sets March 29 as “Super Saturday” to Help Retirees, Veterans and Low-Income Workers Receive Economic Stimulus Payments |
| The Internal Revenue Service and scores of its partners nationwide will open hundreds of locations on Super Saturday, March 29, in an effort to reach those Americans who are eligible for the economic stimulus payment but who normally are not required to file an income tax return. |
| IR-2008-49 |
March 24 2008 |
| IRS Offering Additional Part-Year Grants for Low Income Taxpayer Clinics in 12 States |
| National Taxpayer Advocate Nina E. Olson announced today that the IRS will accept applications for a part-year Low Income Taxpayer Clinic (LITC) matching grant from qualified organizations that will provide services to qualified taxpayers in the following areas: Los Angeles, California; Central Oregon; Boise, Idaho; Minneapolis, Minnesota; Reno and Las Vegas, Nevada; St. Louis, Missouri; Brownsville and Laredo, Texas; Southwest Florida; New Mexico; Colorado; Mississippi; and Northeast Pennsylvania. |
| IR-2008-48 |
March 20, 2008 |
| Combat Pay Can Count toward Economic Stimulus Payment Eligibility |
| Military personnel serving in combat zones have the option of including their nontaxable combat pay on their 2007 or 2008 income tax returns if it helps their eligibility for the 2008 economic stimulus payments. |
| IR-2008-47 |
March 20, 2008 |
| Use of Free File Growing in 2008 |
| The continued growth of Free File shows taxpayers are taking advantage of the program’s benefits, which include free electronic return preparation and filing of tax returns, as well as quicker refunds with direct deposit. |
| IR-2008-46 |
March 19, 2008 |
| IRS Has $1.2 Billion for People Who Have Not Filed a 2004 Tax Return |
| Unclaimed refunds totaling approximately $1.2 billion are awaiting about 1.3 million people who failed to file a federal income tax return for 2004, the Internal Revenue Service announced today. However, to collect the money, a return for 2004 must be filed with an IRS office no later than Tuesday, April 15, 2008. |
| IR-2008-45 |
March 18, 2008 |
| The IRS Invites Taxpayers to Apply for Taxpayer Advocacy Panel; Applications Now Being Accepted; Deadline Is April 30 |
| The Department of the Treasury, the Internal Revenue Service and the Taxpayer Advocacy Panel are committed to creating the most user-friendly, customer-oriented tax administration system possible. |
| IR-2008-44 |
March 17, 2008 |
| IRS Announces Economic Stimulus Payment Schedules, Provides Online Payment Calculator |
| The Internal Revenue Service announced today that it will begin sending more than 130 million economic stimulus payments starting May 2. The initial round of weekly payments will be completed by early July. |
| IR-2008-43 |
March 14, 2008 |
| IRS Releases 2007 Data Book |
| The Internal Revenue Service (IRS) today released the 2007 IRS Data Book, which is an annual snapshot of IRS activities for a given fiscal year. |
| 2008-Shulman |
March 14, 2008 |
| Statement of Commissioner Douglas H. Shulman |
| want to extend my thanks to the members of the Senate and the Senate Finance Committee, especially Chairman Baucus and Senator Grassley. I also want to thank President Bush for nominating me and Treasury Secretary Paulson for his support. |
| IR-2008-42 |
March 14, 2008 |
| IRS Encourages Organizations on Outreach to Low-Income Workers |
| As part of a national outreach effort, the Internal Revenue Service today encouraged nonprofits, charities and other community groups to reach out to low-income Americans who may not realize they are eligible for the 2008 economic stimulus payment. |
| IR-2008-41 |
March 13, 2008 |
| Phishing Scams, Frivolous Arguments Top the 2008 “Dirty Dozen” Tax Scams |
| The Internal Revenue Service today issued its 2008 list of the 12 most egregious tax schemes and scams, highlighted by Internet phishing scams and several frivolous tax arguments. |
| IR-2008-40 |
March 12, 2008 |
| IRS Explains How Manufacturers, Purchasers Can Take Advantage of Tax Credit for Fuel Cell Vehicles |
| The Internal Revenue Service today issued a notice providing procedures for vehicle manufacturers to certify that a fuel cell vehicle meets the requirements for a tax credit. It also provides guidance to taxpayers who purchase certified vehicles regarding what they must do to use the credit. |
| IR-2008-39 |
March 12, 2008 |
| IRS CADE Processing System Tops 15 Million Tax Returns |
| One quarter of all individual tax returns so far this filing season is being processed by the Internal Revenue Service’s modernized account information computer system. |
| IR-2008-38 |
March 10, 2008 |
| IRS Announces 2008 Low Income Taxpayer Clinic Grant Recipients |
| The National Taxpayer Advocate, Nina E. Olson, announced today that the Internal Revenue Service has awarded almost $9 million in matching grants to Low Income Taxpayer Clinics (LITCs) for the 2008 grant cycle (January 1, 2008, through December 31, 2008). |
| IR-2008-37 |
March 10, 2008 |
| Special Economic Stimulus Payment Packages Go to Social Security, Veterans Recipients |
| Starting next week, the Internal Revenue Service will mail special information packages to 20.5 million recipients of Social Security or Veterans Affairs benefits to help them get their 2008 economic stimulus payment. |
| IR-2008-36 |
March 7, 2008 |
| IRS Guidance on LIFO Pooling for Resellers of Cars, Light-Duty Trucks |
| Using the Industry Issue Resolution (IIR) program, the Internal Revenue Service today issued guidance regarding the proper pooling treatment of automobiles, light-duty trucks, and crossover vehicles which have characteristics of trucks and cars under the dollar-value, last-in, first out (LIFO) inventory method. |
| IR-2008-35 |
March 7, 2008 |
| Proposed Regulations Issued for Capitalization of Tangible Assets |
| The Treasury Department and the Internal Revenue Service issued proposed regulations to clarify the treatment of expenditures incurred in selling, acquiring, producing or improving tangible assets. |
| IR-2008-34 |
March 6. 2008 |
| IRS Free File Now Available for Nonfilers Who Must File a Return to Receive Economic Stimulus Payment |
| The Internal Revenue Service announced today that individuals who normally do not file a tax return but must do so this year in order to receive their 2008 economic stimulus payment can now use the IRS Free File program to help them file returns for 2007. |
| IR-2008-33 |
March 4, 2008 |
| IRS Automates Installment Agreement User Fees |
| The Internal Revenue Service announced today that it has automated the user fee calculations for taxpayers entering into an installment agreement. |
| IR-2008-32 |
March 3, 2008 |
| Electronic Filing Off To Strong Start |
| The Internal Revenue Service announced that e-file is off to a fast start in 2008 with more than 38 million tax returns filed electronically so far. |
| IR-2008-31 |
March 3, 2008 |
| IRS Seeks New Issues for the Industry Issue Resolution Program |
| The Internal Revenue Service is encouraging business taxpayers, associations and other interested parties to submit to the Industry Issue Resolution (IIR) Program tax issues for resolution involving a controversy, a dispute or an unnecessary burden on taxpayers. |
| IR-2008-30 |
March 3, 2008 |
| Interest Rates Drop for the Second Quarter of 2008 |
| The Internal Revenue Service today announced that interest rates for the calendar quarter beginning April 1, 2008, will drop by one percentage point. The new rates will be: • six (6) percent for overpayments [five (5) percent in the case of a corporation]; • six (6) percent for underpayments; • eight (8) percent for large corporate underpayments; and • three and one-half (3.5) percent for the portion of a corporate overpayment exceeding $10,000. |
| FS-2008-18 |
February 2008 |
| Like-Kind Exchanges Under IRC Code Section 1031 |
| Whenever you sell business or investment property and you have a gain, you generally have to pay tax on the gain at the time of sale. IRC Section 1031 provides an exception and allows you to postpone paying tax on the gain if you reinvest the proceeds in similar property as part of a qualifying like-kind exchange. Gain deferred in a like-kind exchange under IRC Section 1031 is tax-deferred, but it is not tax-free. |
| FS-2008-15 |
February 2008 |
| Facts about the 2008 Stimulus Payments |
| Starting in May, the Treasury will begin sending economic stimulus payments to more than 130 million individuals. The stimulus payments will go out through the late spring and summer. |
| IR-2008-29 |
February 28, 2008 |
| IRS Changes Muni Bond VCAP Program, Seeks Comments |
| The Internal Revenue Service today announced updated procedures related to the Tax Exempt Bond Voluntary Closing Agreement Program (TEB VCAP). The IRS is also soliciting comments from the public on ways the program could be refined and expanded. |
| IR-2008-28 |
February 28, 2008 |
| Special Economic Stimulus Letters Reach Mailboxes in March |
| More than 130 million American households will begin receiving Internal Revenue Service letters next week reminding them to file a 2007 tax return in order to receive a 2008 economic stimulus payment. |
| IR-2008-27 |
February 28, 2008 |
| IRS Issues Winter 2008 Statistics of Income Bulletin |
| The Internal Revenue Service today released the winter 2008 issue of the Statistics of Income Bulletin, featuring data from 134.4 million individual income tax returns filed for tax year 2005. Of those returns, 90.6 million were “taxable.” This means that they reported total income tax greater than zero. The number of taxable returns in tax year 2005 was up 1.7 percent from 2004. |
| IR-2008-26 |
February 26, 2008 |
| IRS and Tax Treaty Partners Target Liechtenstein Accounts |
| The Internal Revenue Service is initiating enforcement action involving more than 100 U.S. taxpayers to ensure proper income reporting and tax payment in connection with accounts in Liechtenstein. |
| IR-2008-25 |
February 25, 2008 |
| E-Postcard Filing Now Available on IRS.gov for Small Tax-Exempt Organizations |
| The Internal Revenue Service announced the launch of a simple electronic filing system that small tax-exempt organizations may use to comply with a new law requiring them to file an annual return. |
| FS-2008-14 |
February 2008 |
| Examination and Compliance Check Processes For Exempt Organizations |
| The Internal Revenue Service has a variety of tools at its disposal to make certain that tax-exempt organizations comply with federal law designed to ensure they are entitled to any tax exemption they may claim. |
| FS-2008-13 |
February 2008 |
| IRS Complaint Process For Tax Exempt Organizations |
| The Internal Revenue Service gives serious consideration to complaints made alleging the abuse of the tax exempt status granted to certain organizations. |
| IR-2008-24 |
February 22, 2008 |
| Form 4136 Revised; Some Farmers, Fishermen Have Until March 10 to E-File, IRS Says |
| Agricultural industry taxpayers, farmers and fishermen, who electronically file Form 1040 returns with Form 4136, Credit for Federal Tax Paid on Fuels, must wait until March 3 to e-file the newly-revised Form 4136. |
| IR-2008-23 |
February 22, 2008 |
| Credit for Honda Hybrids Begins to Phase-Out |
| After reviewing the fourth quarter 2007 sales of American Honda Motor Company, Inc., the Internal Revenue Service announced that purchasers of qualifying Honda vehicles may continue to claim the Alternative Motor Vehicle Credit. Given the number of vehicles sold, the phase out period for Honda vehicles began on January 1, 2008. |
| IR-2008-22 |
February 21, 2008 |
| 2008 Economic Stimulus Act Provides Tax Benefits to Businesses |
| In addition to providing stimulus payments to individuals, the Economic Stimulus Act of 2008 provides incentives to businesses. These incentives include a special 50-percent depreciation allowance for 2008 purchases and an increase in the small business expensing limitation for tax years beginning in 2008. |
| IR-2008-21 |
February 15, 2008 |
| More Information on Stimulus Payments Posted to IRS.gov; New Details for Recipients of Social Security, Veterans Benefits |
| The Internal Revenue Service released additional information today about the upcoming economic stimulus payments in a specially designed section for taxpayers on IRS.gov. |
| IR-2008-20 |
February 15, 2008 |
| IRS Seeks Candidates for Electronic Tax Administration Advisory Committee |
| The Internal Revenue Service is seeking candidates for membership on the Electronic Tax Administration Advisory Committee (ETAAC). All applicants should submit a resume and complete an application form for the fall vacancies. In addition, the IRS will require a federal tax check waiver and a Federal Bureau of Investigation (FBI) check of the best qualified applicants. The deadline for submitting applications is Tuesday, April 1, 2008. |
| IR-2008-19 |
February 14, 2008 |
| IRS Successfully Processing Tax Forms Affected by AMT Legislation |
| The Internal Revenue Service is now processing five tax forms affected by legislation involving the Alternative Minimum Tax (AMT). |
| IR-2008-18 |
February 13, 2008 |
| IRS Will Send Stimulus Payments Automatically Starting in May; Eligible Taxpayers Must File a 2007 Tax Return to Receive Rebate |
| The Internal Revenue Service today advised taxpayers that in most cases they will not have to do anything extra this year to get the economic stimulus payments beginning in May. |
| IR-2008-17 |
February 12, 2008 |
| Mortgage Workouts, Now Tax-Free for Many Homeowners; Claim Relief on Newly-Revised IRS Form |
| Homeowners whose mortgage debt was partly or entirely forgiven during 2007 may be able to claim special tax relief by filling out newly-revised Form 982 and attaching it to their 2007 federal income tax return, according to the Internal Revenue Service. |
| IR-2008-16 |
February 8, 2008 |
| IRS Announces Energy Bond Allocations |
| The Internal Revenue Service today announced 312 projects eligible to be financed with tax-credit bonds under the Clean Renewable Energy Bonds (CREB) program. |
| IR-2008-15 |
February7, 2008 |
| Tax Returns from Seven States Go to Different Centers |
| As some taxpayers begin to prepare their paper 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-2008-14 |
February 6, 2008 |
| IRS Offers New Online Help Tools for 2008 Tax Filers |
| Things have gotten easier for taxpayers who need help preparing their federal returns this year. The IRS has enhanced both Publication 17 and Where’s My Refund?, two key electronic tools available on this Web site, IRS.gov, the official Web site of the IRS. These improvements will help any taxpayer with Internet access find answers to tax questions quickly, prepare returns accurately and file on time. |
| FS-2008-12 |
January 2008 |
| Help Yourself by Filing Past-Due Tax Returns |
| Most citizens voluntarily file their tax returns and pay their taxes. Most people explain it by saying they want to pay their fair share. Others file to get a refund, claim a credit or avoid breaking the law. |
| FS-2008-11 |
January 2008 |
| Eligibility Rules Outlined for EITC |
| The Earned Income Tax Credit (EITC) is a tax credit for people who work but do not earn high incomes. The EITC is a valuable tool helping eligible taxpayers to lower their taxes or to claim a refund. The IRS wants all eligible taxpayers to claim this credit. |
| FS-2008-10 |
January 2008 |
| Tax Return Preparer Fraud |
| Return preparer fraud generally involves the preparation and filing of false income tax returns by preparers who claim inflated personal or business expenses, false deductions, unallowable credits or excessive exemptions on returns prepared for their clients. Preparers may manipulate income figures to fraudulently obtain tax credits, such as the Earned Income Tax Credit. |
| FS-2008-09 |
January 2008 |
| Identity Theft E-mail Scams a Growing Problem |
| The Internal Revenue Service has issued an increasing number of warnings over the last few years about e-mail scams targeting individuals, businesses, exempt organizations and other taxpayers. The scams, popularly known as "phishing" scams, use phony e-mails that falsely claim to come from the IRS. |
| FS-2008-08 |
January 2008 |
| Credit Available for Taxpayers Who Purchased or Leased a Wide Range of Hybrid Models In 2007 |
| Taxpayers who purchased or leased to others a hybrid passenger automobile or light truck in 2007 must take care when determining whether they qualify for the Alternative Motor Vehicle Credit because the credit amount varies, or may not be available, depending on the manufacturer, and when the vehicle was purchased. |
| FS-2008-07 |
January 2008 |
| IRS Offers Free Tax Help |
| The Internal Revenue Service offers free tax help by computer and telephone and in person. The IRS helps taxpayers get forms and publications and answers a wide range of tax questions. The IRS can also help individuals find free tax preparation services. |
| FS-2008-06 |
January 2008 |
| Electronic Payment Options for 2008 |
| Each year more and more taxpayers opt to pay their taxes electronically because electronic payments provide them with more options. Taxpayers can set up an e-pay option including electronic funds withdrawal from a checking or savings account. Paying with a credit card is another e-pay option. |
| FS-2008-05 |
January 2008 |
| Divide and Prosper: Refund Splitting Creates Asset Building Opportunities for Direct Deposit Filers |
| Splitting a refund with the direct deposit option enables taxpayers to deposit their money where they want it in the first place. Instead of having a refund electronically deposited into a checking account and later moving part of it to another account, a taxpayer can now allocate the refund among up to three different accounts at up to three different U.S. banks, mutual funds, brokerage firms or credit unions. |
| FS-2008-04 |
January 2008 |
| 2008 IRS E-File |
| Most taxpayers and tax preparers this year will use IRS e-file to file their tax returns or get extensions of time to file. In the process they will not have to send a single scrap of paper to the Internal Revenue Service. |
| FS-2008-03 |
January 2008 |
| New Electronic Signature Requirement for Tax Practitioners |
| The IRS has simplified the signature process for electronically filed individual income tax returns submitted by tax practitioners. The simplified process eliminates the need for a paper signature document to be sent to the IRS in support of electronically filed tax returns. |
| FS-2008-02 |
January 2008 |
| Don’t Overlook These Valuable Tax Credits |
| Tax credits can help you pay part of the cost of raising a family, going to college, saving for retirement, making energy-saving improvements to your home and getting daycare so you can work or go to school. Each year, many taxpayers overlook them, even though they often qualify for one or more of these credits. |
| FS-2008-01 |
January 2008 |
| Highlights of 2007 Tax Changes: Law Raises AMT Exemption, Filers of Five Forms Must Wait Until February 11 |
| AMT exemptions rise. Filing is delayed for some taxpayers. Several popular deductions reappear on IRS forms. Tax relief is available to struggling homeowners whose mortgage debt is forgiven. Retirement savings incentives expand. A new deduction is available for some mortgage insurance premiums. And new recordkeeping rules apply to cash donations to charity. |
| IR-2008-13 |
January 31, 2008 |
| EITC Awareness Kicks Off Today; Free Tax Help Available |
| The Department of Treasury, the Internal Revenue Service and scores of community partners nationwide today kicked off EITC Awareness Day to promote the refundable tax credit for low-wage workers and options for free tax preparation. |
| IR-2008-12 |
January 31, 2008 |
| IRS Partners Host Free Tax Help for Low-Income, Elderly Taxpayers |
| Nearly 12,000 free tax preparation sites will be open nationwide this year as the Internal Revenue Service continues to expand its partnerships with nonprofit and community organizations performing vital tax preparation services for low-income and elderly taxpayers. |
| IR-2008-11 |
January 30, 2008 |
| IRS Warns of New E-Mail and Telephone Scams Using the IRS Name; Advance Payment Scams Starting |
| The Treasury Department and the Internal Revenue Service are pleased to announce the selection of 41 new members to serve on the nationwide Taxpayer Advocacy Panel (TAP), a Federal Advisory Committee charged with providing direct taxpayer input to the IRS. |
| IR-2008-10 |
January 22, 2008 |
| Taxpayer Advocacy Panel Members Selected |
| The Treasury Department and the Internal Revenue Service are pleased to announce the selection of 41 new members to serve on the nationwide Taxpayer Advocacy Panel (TAP), a Federal Advisory Committee charged with providing direct taxpayer input to the IRS. |
| IR-2008-09 |
January 15, 2008 |
| IRS, Telemundo Host Tax Information Program for Spanish-Speaking Taxpayers |
| The Internal Revenue Service is joining national TV network Telemundo in a special one-hour tax program for Spanish-speaking taxpayers on Sunday, January 27. |
| IR-2008-08 |
January 14, 2008 |
| IRS Names Four New Frivolous Claims to Avoid |
| The Internal Revenue Service today issued a notice that lists four additional erroneous legal positions that taxpayers should refrain from using as an excuse to avoid paying their taxes. |
| IR-2008-07 |
January 11, 2008 |
| IRS Picks 20 New Advisory Committee Members |
| The Internal Revenue Service announced the selection of 20 new members of the Information Reporting Program Advisory Committee (IRPAC), which provides an organized public forum for discussion of relevant tax administration issues between IRS officials and representatives of the public.The Internal Revenue Service announced the selection of 20 new members of the Information Reporting Program Advisory Committee (IRPAC), which provides an organized public forum for discussion of relevant tax administration issues between IRS officials and representatives of the public. |
| IR-2008-06 |
January 10, 2008 |
| Most Taxpayers Eligible to File Their Taxes Online for Free |
| The Internal Revenue Service and its private-sector partners today announced the January 11 opening of this year's Free File program. The free tax preparation and electronic filing initiative begins its sixth year with high customer satisfaction ratings. |
| IR-2008-05 |
January 10, 2008 |
| IRS E-File Opens for 2008 Filing Season for Most Taxpayers |
| Most taxpayers may file their 2007 tax returns electronically beginning January 11 as the Internal Revenue Service opens the e-file program. |
| IR-2008-04 |
January 9, 2008 |
| National Taxpayer Advocate Delivers Report to Congress |
| National Taxpayer Advocate Nina E. Olson today released her annual report to Congress, focusing particular attention on the consequences of changes to the tax code enacted late in the year and the need for a coordinated IRS approach to combat the cash economy portion of the tax gap. Olson also urged Congress to enact a Taxpayer Bill of Rights and to authorize symbolic “apology payments” in egregious cases where taxpayers suffer significant harm as a result of IRS errors. The report contains a second volume that describes the results of six research studies, including one that shows that low income taxpayers fare much better in IRS Earned Income Tax Credit audits when they are represented by practitioners. |
| IR-2008-03 |
January 3, 2008 |
| IRS Accepts Integrated Utility Company Issue for Industry Issue Resolution Program |
| The Internal Revenue Service and the Treasury Department today announced that they will work to publish guidance on a method for integrated utilities to use when calculating the tax deduction for domestic production of electricity and natural gas, as well as other production activities. |
| IR-2008-02 |
January 3, 2008 |
| Treasury and IRS Give Taxpayers Greater Control over Information Held by Tax Preparers; Propose Marketing Restrictions on RALs |
| The Treasury Department and the Internal Revenue Service today released final regulations and a related revenue procedure giving taxpayers greater protection and control over their tax return information held by tax return preparers. Treasury and the IRS also issued a separate request for public comment on a proposal to restrict the marketing of refund anticipation loans and similar products. |
| IR-2008-01 |
January 2, 2008 |
| Tax Packages Arrive in Mail; IRS Reminds Taxpayers to e-file and Watch for Tax Law Changes |
| With millions of tax packages beginning to arrive in mailboxes this week, the Internal Revenue Service today reminded taxpayers to watch for commonly overlooked tax credits and late tax law changes that could affect their tax returns. |
