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Issue Number:  2016-10

Inside This Issue

1. New on IRS.gov
2. IRS Announces 16 New Members for the Electronic Tax Administration Advisory Committee
3. Upcoming IRS webinars
4. IRS Continues Comprehensive Assessment of the CAP Program
5. New Factors Increase Importance of Mid-Year Tax Withholding Check Up
6. New Wave of Identity Theft Attacks Focuses on Tax Professionals
7. YouTube: Employer Tax Withholding Responsibility

• Pub. 1220, Specifications for Electronic Filing of Forms 1097, 1098, 1099, 3921, 3922, 5498, and W-2G  
• Form 4423, Application for Filing Affordable Care Act (ACA) Information Returns 
• Form 13768, Electronic Tax Administration Advisory Committee Membership Application  

Draft Forms

Instructions for submitting comments on these forms are on the cover pages.

• Form 1042, Annual Withholding Tax Return for U.S. Source Income of Foreign Persons  
• Inst. 1042, Instructions for Form 1042, Annual Withholding Tax Return for U.S. Source Income of Foreign Persons  
• Form 1042-S, Foreign Person's U.S. Source Income Subject to Withholding  
• Inst. 5884, Instructions for Form 5884, Work Opportunity Credit
• Pub. 5223, General Rules and Specifications for Affordable Care Act Substitute Forms 1095-A, 1094-B, 1095-B, 1094-C and 1095-C  
• Inst. 1094-B & 1095-B, Instructions for Forms 1094-B and 1095-B

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The IRS announced the appointment of 16 new members to the Electronic Tax Administration Advisory Committee (ETAAC). ETAAC members will work closely with the Security Summit, a joint effort of the IRS, state tax administrators and tax software industry to fight electronic fraud.

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Determining full-time employee status under the Affordable Care Act

Thursday Sept. 22 at 2 p.m. Eastern

Register for this event and learn about:

• Determining full-time employees for purposes of the Employer Shared Responsibility Provisions
• How to determine full-time status for employees who are seasonal, part-time or work non-traditional schedules
• Using the look-back method and the monthly measurement method
• Initial measurement, stability, standard measurement and administrative periods

Overview of Requirements for Charitable Hospitals Under ACA Section 501(r)

The Affordable Care Act added additional requirements that affect tax exempt hospitals.

Thursday Sept. 29 at 2 p.m. Eastern

Register for this event and learn about:

• Community benefit standard for 501(c)(3) hospitals
• Community health Needs assessment and implementation strategy
• Financial assistance and emergency medical care policy
• Limitation on charge requirements
• Billing and collection requirements

Archived webinar

Find the Protect your Clients; Protect Yourself from Data Theft webinar archived on the IRS Video Portal with the PowerPoint and related PDF transcript for downloading.

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The IRS is in the process of assessing all three phases of the Compliance Assurance Process (CAP) program. The three phases are: CAP, Pre-CAP and Compliance Maintenance. The assessment will include input from both internal and external stakeholders to determine any needed changes to the program.

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The IRS encourages tax professionals and their clients to consider a mid-year tax withholding checkup. Mandatory withholding of certain refunds and new security measures could delay refunds in 2017. A checkup now can help ensure the right amount is withheld, either for tax refund purposes or to avoid an unexpected tax bill next year.

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The IRS warns tax professionals of a new wave of attacks in which identity thieves file fraudulent tax returns by remotely taking over practitioner computers.

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Learn how to deposit withheld employee taxes to avoid a trust fund recovery penalty in this new YouTube video.

Watch this and other videos on the IRS YouTube Channel.

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