e-News for Tax Professionals Issue 2015-7

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Issue Number:  2015-7

Inside This Issue

1. Tax Pros: Watch Out for New Phishing Scam; Don’t Click on Strange Emails or Links Seeking Updated Information
2. IRS Begins Limited Test of Providing Appointments at 10 Walk-In Locations; Goal to Increase Efficiency, Help Taxpayers
3. IRS Direct Pay Reminder 
4. Taxpayer Advocacy Panel Members Selected
5. Retirement Plan Phone Forums Coming on March 5 and March 26
6. Technical Guidance   

The IRS warns tax professionals to be on guard against bogus emails seeking updated personal or professional information that in reality are phishing schemes.

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The IRS announced a limited test in 10 of its larger Taxpayer Assistance Centers around the country to determine if an appointment-based service approach can help reduce taxpayer wait times during a time of severe budget cuts.

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Please remind your clients that making a tax payment is easy with IRS Direct Pay. It’s secure, free of charge and available on IRS.gov.

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Twenty nine new members have been selected to serve on the nationwide Taxpayer Advocacy Panel (TAP). The TAP is a federal advisory committee charged with providing taxpayer suggestions to improve IRS customer service.

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Get details and sign up for the following phone forums:

March 5: Highlights of the Second Cycle E Determination Letter Application Process

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Notice 2015-13 provides guidance on Section 119 of the Tax Increase Prevention Act of 2014, American Taxpayer Relief Act of 2012, Pub. L. No. 113-295, enacted Dec. 19, 2014. The Act amends Section 51 of the Internal Revenue Code to extend the Work Opportunity Tax Credit through Dec. 31, 2014. The notice also provides employers additional time beyond the 28-day deadline in Section 51(d)(13) for submitting Form 8850, Pre-screening Notice and Certification Request for the Work Opportunity Credit, to Designated Local Agencies.

Notice 2015-14 updates and amplifies the procedures for the allocation of credits under the qualifying advanced coal project program of Section 48A of the Internal Revenue Code by announcing the immediate beginning of the 2015 reallocation round (“Round 2”) of the Section 48A Phase III program.  Except as specifically provided in this notice, this allocation round will be conducted in the same manner and under the same procedures as provided under Notice 2012-51, 2012-2 C.B. 150, which established the Section 48A Phase III program.

Notice 2015-17 provides transition relief from the assessment of excise tax under section 4980D for small employers (in particular, employers who are not applicable large employers) who reimburse or pay a premium for an individual health insurance policy for an employee. Notice 2015-17 also addresses the treatment for federal tax and for market reform purposes of arrangements reimbursing premiums of 2%-shareholder employees of S corporations. Finally, Notice 2015-17 addresses application of the market reforms to certain employer arrangements to fund Medicare premium payments or to provide a TRICARE-related health reimbursement arrangement (HRA).

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