Issue Number: 2016-14
Inside This Issue
- IRS Offers Taxpayers New Cash Payment Option
- Revised Offer in Compromise Booklet and Application Available
- Did Your Client Get a Letter from the IRS about the Premium Tax Credit?
- IRS Seeks Applications for Information Reporting Program Advisory Committee
- Tax Relief for Victims of Severe Storms in Louisiana, Mississippi and Texas
- IRS.gov information on Corrected or Voided Form 1095-A
1. IRS Offers Taxpayers New Cash Payment Option
IRS has announced a new payment option for individual taxpayers who need to pay their taxes with cash. In partnership with ACI Worldwide’s OfficialPayments.com and the PayNearMe Company, individuals can now make a payment without the need of a bank account or credit card at over 7,000 7-Eleven stores nationwide.
Other IRS payment options are described in this YouTube video.
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2. Revised Offer in Compromise Booklet and Application Available
The 2016 revision of Offer in Compromise Booklet Form 656-B is now available for download on IRS.gov. The booklet contains necessary forms and instructions for submitting an Offer in Compromise. Use of earlier revisions may result in a delay in the processing of Offer applications. To confirm your client is eligible and get an estimated offer amount, use the Offer in Compromise Pre-Qualifier Tool.
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3. Did Your Client Get a Letter from the IRS about the Premium Tax Credit?
IRS.gov has information to help you understand and respond to your client’s 12C letter.
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4. IRS Seeks Applications for Information Reporting Program Advisory Committee
The IRS is requesting membership applications for the Information Reporting Program Advisory Committee (IRPAC), a federal advisory committee that advises the IRS on various tax administration issues.
The IRPAC presents a report to the IRS Commissioner at a public meeting each fall. Members are appointed to three-year terms, but terms are staggered so that approximately one-third of the committee membership changes each year. Nominations are currently being accepted for up to eight appointments that will begin in January 2017.
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5. Tax Relief for Victims of Severe Storms in Louisiana, Mississippi and Texas
Victims of the severe storms in additional parts of Louisiana, Mississippi and Texas may qualify for tax relief.
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6. Updated IRS.gov information on Corrected or Voided Form 1095-A
Some taxpayers may receive a second Form 1095-A, Health Insurance Marketplace Statement, because the information on the initial form was incorrect or incomplete. New information is available on IRS.gov.
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