Issue Number: 2016-5
Inside This Issue
- IRS Highlights Dirty Dozen Tax Scams
- Tax Preparers: IdentityTheft.gov Can Help Your Clients
- IRS to Begin Accepting Bilateral Advance Pricing Agreement Requests for India on Feb. 16
- Technical Guidance
1. IRS Highlights Dirty Dozen Tax Scams
Identity theft, phone scams, phishing and return preparer fraud: They are all on the IRS Dirty Dozen list of tax scams this year. Learn more about the Dirty Dozen in this YouTube video.
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2. Tax Preparers: IdentityTheft.gov Can Help Your Clients
As a tax professional, you may be the first to discover that your client is a victim of tax-related identity theft. You also can be the first to tell the client that free help is available at IdentityTheft.gov, the government’s one-stop resource to help people report and recover from identity theft.
IdentityTheft.gov offers step-by-step guidance for victims of identity theft – including tax ID theft – helping them regain control of their finances and reputations. New features on the site provide personal recovery plans and pre-filled letters and forms victims can use to resolve the identity theft.
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3. IRS to Begin Accepting Bilateral Advance Pricing Agreement Requests for India on Feb. 16
IRS announced the Advance Pricing and Mutual Agreement Office (APMA), a representative office of the U.S. competent authority, will begin accepting requests for bilateral advance pricing agreements (bilateral APAs) between the United States and India beginning Feb. 16.
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4. Technical Guidance
Notice 2016-14 provides guidance for the 2016 fee year on how the definition of expatriate health plans under the Expatriate Health Coverage Clarification Act of 2014 applies for purposes of the health insurance provider’s fee imposed by § 9010 of the Affordable Care Act.
Notice 2016-14 will be in IRB 2016-07, dated Feb. 16.
Notice 2016-13 provides transition relief for section 529 qualified tuition programs that timely file a 2015 Form 1099-Q, Payments From Qualified Education Programs, that does not reflect the repeal of the aggregation requirement under section 529(c)(3)(D) of the Internal Revenue Code (Code) applicable to distributions from qualified tuition programs.
Notice 2016-13 will be in 2016-07, dated Feb. 16.
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