e-News for Tax Professionals Issue 2013-2

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Issue Number:  2013-2

Inside This Issue

1. IRS Plans Jan. 30 Tax Season Opening For Most 1040 Filers
2. National Taxpayer Advocate Delivers Annual Report to Congress
3. Get the Latest Information from the Return Preparer Office
4. Getting Ready for Filing Season 2013 - Individuals and Businesses
5. Webinar: Circular 230 Overview
6. Phone Forum: Ethical Standards for and Accountability of Practitioners Offering Tax Advice Relating to Employee Benefit Plans
7. Phone Forum: Overview of the 2012 Cumulative List of Plan Qualification Changes
8. Technical Guidance 

Following the January tax law changes made by Congress under the American Taxpayer Relief Act (ATRA), the Internal Revenue Service announced it plans to open the 2013 filing season and begin processing individual income tax returns on Jan. 30.

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National Taxpayer Advocate Nina E. Olson released her annual report to Congress, identifying the complexity of the tax code as the most serious problem facing taxpayers. The report also focuses on IRS funding, identity theft, and how IRS processing flaws and service delays continue to undermine taxpayer rights.

Read the News Release or full report for more information.

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The recent broadcast of IRS Live, Get Prepared: A to Z Details on the Registered Tax Return Preparer Test is now available on the IRS Video Portal.

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The Jan. 23 IRS Live broadcast will include:

• Tax law updates
• New tax legislation and its implementation by the IRS
• Changes to tax forms

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The recent webinar, Circular 230 Overview: Key Provisions and Responsibilities for Tax Professionals, will be rebroadcast on Jan. 29, 2013. Sign up now.

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Sign up now for this Feb. 13 Phone Forum. The professional standards of conduct applicable to, and the accountability of, individuals that provide tax advice relating to employee benefit plans will be discussed by Karen Hawkins, the Director of the Office of Professional Responsibility (OPR) and Gabriel Minc, a Senior Tax Law Specialist in Employee Plans. They’ll focus on the standards for written tax advice for, and the accountability of, employee benefit plan practitioners under Circular 230 and the Internal Revenue Code. If you have a specific matter that you would like to be addressed, please email us at ep.phoneforum@irs.gov by February 8, 2013.

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Sign up now for this Feb. 28 Phone Forum. The list of plan changes to be used by plan sponsors and practitioners submitting determination letter applications during the period beginning February 1, 2013 (Notice 2012-76) will be discussed by Donald Kieffer, IRS Employee Plans Senior Tax Law Specialist. This list will primarily be used by single employer individually designed defined contribution and defined benefit plans that are in Cycle C, and IRC Section 414(d) governmental plans (including governmental multiemployer or governmental multiple employer plans) that choose to file during Cycle C. If you have a specific matter that you would like to be addressed, please email us at ep.phoneforum@irs.gov by February 21, 2013.

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Notice 2013-2 provides guidance as to the corporate bond weighted average interest rate and the permissible range of interest rates specified under § 412(b)(5)(B)(ii)(II) of the Internal Revenue Code as in effect for plan years beginning before 2008. It also provides guidance on the corporate bond monthly yield curve (and the corresponding spot segment rates), and the 24-month average segment rates under § 430(h)(2). In addition, this notice provides guidance as to the interest rate on 30-year Treasury securities under § 417(e)(3)(A)(ii)(II) as in effect for plan years beginning before 2008, the 30-year Treasury weighted average rate under § 431(c)(6)(E)(ii)(I), and the minimum present value segment rates under § 417(e)(3)(D) as in effect for plan years beginning after 2007. The rates in this notice reflect certain changes implemented by the Moving Ahead for Progress in the 21st Century Act, Public Law 112-141 (MAP-21).

Notice 2013-2 will be in 2013-6, dated February 4, 2013.

Announcement 2013-9 addresses a typographical error in the Schedule of User Fees found in Appendix A of Revenue Procedure 2013-1, 2013-1 I.R.B. 1, wherein the reduced user fee for a letter ruling, method or period change or closing agreement request involving a personal or business tax issue from a person with gross income of less than $250,000 was incorrectly listed as $1,000, when the correct reduced fee for this type of request is $2,000. Accordingly, the user fee associated with paragraph (4)(a) in Appendix A, Schedule of User Fees of Revenue Procedure 2013-1, 2013-1 I.R.B. 1, page 68, is $2,000.
 
Announcement 2013-9 will appear in IRB 2013-14 on Jan. 22, 2013.

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