Issue Number: 2017-14
Inside This Issue
- Private Collection of Some Overdue Federal Taxes Starts this Month
- IRS Reminder to Taxpayers Who Haven’t Filed 2013 Returns: Time is Running Out on $1 Billion in Refunds
- IRS Extends Call Service Hours on Saturday April 8 and 15
- YouTube: Extension of Time to File and Foreign Tax Credit
- New Fax Number for Form 8655, Reporting Agent Authorization
- Technical Guidance
1. Private Collection of Some Overdue Federal Taxes Starts this Month
The Internal Revenue Service is sending letters to a relatively small group of taxpayers whose overdue federal tax accounts are being assigned to one of four private-sector collection agencies.
The new program, enacted by Congress, enables designated contractors to collect, on the government’s behalf, unpaid tax debts. Usually these are unpaid individual tax obligations that are several years old and not currently being pursued by IRS collection employees.
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2. IRS Reminder to Taxpayers Who Haven’t Filed 2013 Returns: Time is Running Out on $1 Billion in Refunds
The IRS reminds taxpayers that unclaimed federal income tax refunds totaling more than $1 billion may be waiting for an estimated 1 million taxpayers who did not file a 2013 federal income tax return. But time is running out. To claim this money, taxpayers must file a 2013 federal tax return by April 18.
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3. IRS Extends Call Service Hours on Saturday April 8 and 15
To help meet the high demand to its toll-free call center that typically comes as the tax deadline nears, the Internal Revenue Service is extending its customer service hours for the next two Saturdays, April 8 and 15.
The Practitioner Priority Service, 866-860-4259, will be open from 9 a.m to 5 p.m. local time.
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4. YouTube: Extension of Time to File and Foreign Tax Credit
Do you need more time to file a client’s return? This new YouTube video explains how to get an extension.
Also, if you work with international tax issues, another YouTube video explains how to determine the form 1099 foreign tax withholding that is eligible for the Foreign Tax Credit.
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5. New Fax Number for Form 8655, Reporting Agent Authorization
The fax number for Form 8655, Reporting Agent Authorization, has been changed to 855-214-7523. Forms recently sent to the previous number, 801-620-4142, have been received. But this number will soon be deactivated.
Remember: When faxing Forms 8655, send no more than 25 forms in a single transmission. Also, consider sending faxes directly from your computer rather than a fax machine – the generally improved legibility makes the forms easier to process.
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6. Technical Guidance
Rev. Proc. 2017-31 updates Rev. Proc. 2016-56 (published in December 2016) to add countries to the list of countries set forth in Section 4 of Rev. Proc. 2014-64. Section 4 lists the countries with which the Treasury Department and the IRS have determined that it is appropriate to have an automatic exchange relationship with respect to bank deposit interest income information under Treas. Reg. §§1.6049-8(a) and 1.6049-4(b)(5). Rev. Proc. 2017-31 adds three countries (Belgium, Colombia, and Portugal) to the Section 4 list.
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