e-News for Tax Professionals Issue 2018-20

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e-News for Tax Professionals May 18, 2018

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Issue Number:  2018-20

Inside This Issue


  1. Paycheck Checkup: Schedule A Itemized Deductions
  2. Case Resolution at the 2018 IRS Nationwide Tax Forums
  3. Applying for an Electronic Filing Identification Number (EFIN)
  4. IRS Presents Webinar on Payment Options
  5. Technical Guidance

1.  Paycheck Checkup: Schedule A Itemized Deductions

If your client typically itemizes her deductions on Schedule A of Form 1040, encourage her to use the IRS Withholding Calculator to perform a “paycheck checkup.” Recent tax law changes may affect her tax rate, and the IRS Withholding Calculator will help ensure her employer is withholding the appropriate amount of tax from her paycheck.

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2.  Case Resolution at the 2018 IRS Nationwide Tax Forums

Do you have an unresolved tax case? Bring it to the Case Resolution Room at the 2018 IRS Nationwide Tax Forums. IRS representatives will be available to meet one-on-one with you to resolve it, and if it cannot be resolved onsite, it will be assigned to the appropriate IRS unit for follow-up.

For more information on the Case Resolution Program or to register to attend the 2018 IRS Nationwide Tax Forums, visit www.irstaxforum.com.

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3.  Applying for an Electronic Filing Identification Number (EFIN)

Are you interested in applying for an electronic filing identification number (EFIN)? Learn how to apply, maintain and protect your EFIN by reviewing these new YouTube videos:

• How to get an EFIN
• How to Maintain, Monitor and Protect Your EFIN

Watch these and other videos on the IRS’s YouTube Channel.

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4.  IRS Presents Webinar on Payment Options

Register now for the web conference, Understanding Payment Options, on May 24. The web conference will provide an overview of:

• Direct Pay
• Online Payment Agreements
• Cash Payments/IRS-Pay Near Me
• Other Payment Options

All participants who qualify will receive a Certificate of Completion applicable to Continuing Education Credit.

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5.  Technical Guidance

Revenue Ruling 2018-16 provides various prescribed rates for federal income tax purposes including the applicable federal interest rates, the adjusted applicable federal interest rates, the adjusted federal long-term rate, the adjusted federal long-term tax-exempt rate.

Revenue Procedure 2018-32 modifies and combines Revenue Procedure 81-6, 1981-1 C.B. 620; Rev. Proc. 81-7, 1981-1 C.B. 621; Rev. Proc. 89-23, 1989-1 C.B. 844; and Rev. Proc. 2011-33, 2011-25 IRB 887, into one revenue procedure to provide accessible guidance for grantors and contributors to tax-exempt organizations on deductibility and reliance issues.

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