Issue Number: 2016-19
Inside This Issue
- May 16 Is Filing Deadline for Many Exempt Organizations; Do Not Include Social Security Numbers or Personal Data
- IRS Provides Guidance for New Voluntary Certification Program
- National Taxpayer Advocate to Hold Public Forum on Taxpayer Service Needs May 17 in Washington, DC
- Enrolled Agent Annual Clean-Up Begins
- Revised Offer in Compromise Procedures
- Tax Relief for Additional Victims of Severe Storms and Flooding in Houston Area
- Technical Guidance
1. May 16 Is Filing Deadline for Many Exempt Organizations; Do Not Include Social Security Numbers or Personal Data
With the May 16 filing deadline facing many tax-exempt organizations, the IRS cautions tax professionals and taxpayers to not include Social Security numbers (SSNs) or other unneeded personal information on Form 990.
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2. IRS Provides Guidance for New Voluntary Certification Program
The IRS recently issued temporary and proposed regulations implementing a new voluntary certification program for professional employer organizations (PEOs).
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3. National Taxpayer Advocate to Hold Public Forum on Taxpayer Service Needs May 17 in Washington, DC
National Taxpayer Advocate Nina Olson will hold a public forum on taxpayer service on Tuesday, May 17, at 10:00 a.m. at the IRS Headquarters Building in Washington, D.C. Members of the public and the media may attend.
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4. Enrolled Agent Annual Clean-Up Begins
With the enrolled agent (EA) renewal cycle now completed, the IRS next week will begin its annual clean-up of enrolled agents with Social Security numbers ending in 0, 1, 2, or 3 who did not renew.
More than 5,000 EAs who did not renew during the 2016 cycle will be moved to inactive status, while more than 2,000 EAs who did not renew during the 2013 and 2016 cycles will be moved to terminated status.
Letters will be sent to all affected enrolled agents advising them of the action.
Any EA in inactive status can submit a late renewal for approval. Anyone in terminated status must re-take the Special Enrollment Exam to apply for re-enrollment.
If an EA disagrees with an action taken and has a record of previously renewing , he or she should call 1-855-472-5540.
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5. Revised Offer in Compromise Procedures
Effective immediately, the IRS will return newly filed Offer in Compromise (OIC) applications in cases where the taxpayer has not filed all required tax returns. Any fees included with the OIC will also be returned. This new policy does not apply to current year tax returns if there is a valid extension on file. To confirm your client is eligible and get an estimated offer amount, use the OIC Pre-Qualifier Tool.
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6. Tax Relief for Additional Victims of Severe Storms and Flooding in Houston Area
Additional victims of the severe storms and flooding that took place beginning April 17 in parts of Texas may qualify for tax relief from the IRS.
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7. Technical Guidance
Revenue Procedure 2016-26 provides guidance with respect to the United States and area median gross income figures that are to be used by issuers of qualified mortgage bonds, as defined in Section 143(a) of the Internal Revenue Code, and issuers of mortgage credit certificates, as defined in Section 25(c), in computing the housing cost/income ratio described in Section 143(f)(5).
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