e-News for Tax Professionals Issue Number: 2018-26

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e-News for Tax Professionals June 29, 2018

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Issue Number:  2018-26

Inside This Issue


  1. New Form 1040 for 2019 Tax Season
  2. Register Now for the National Harbor Tax Forum
  3. June 29 Deadline for Victims of 2017 Hurricanes and Tropical Storms
  4. IRS Letter CP2000
  5. ETAAC Issues Annual Report to Congress
  6. Taxpayer Advocate Report Focuses on Customer Service
  7. Technical Guidance

1.  New Form 1040 for 2019 Tax Season

The IRS today announced plans to streamline the Form 1040 into a shorter, simpler form for the 2019 tax season. The new Form 1040 consolidates the current 1040, the 1040A and the 1040EZ into one form. The IRS will work with the tax community to finalize the streamlined Form 1040 over the summer to ensure a smooth transition.

Tax professionals can review a draft copy of the new Form 1040 and submit comments regarding the draft to WI.1040.Comments@IRS.gov.

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2.  Register Now for the National Harbor Tax Forum

Tax professionals interested in attending the IRS Tax Forum at National Harbor, MD (near Washington, DC) July 17 -19, can save $115 if they register by July 3. Enrolled agents, certified public accountants, certified financial planners, Annual Filing Season Program participants and other tax professionals can register at the standard rate of $255 through July 3. Registration after that date or on-site will be $370.

The 2018 Nationwide Tax Forums take place around the country. Other Forums are scheduled for: Atlanta, July 10-12; San Diego, Aug. 7-9; Chicago, Aug. 21-23; and Orlando, Sept. 11-13. Visit the IRS Nationwide Tax Forum website to register.

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3.  June 29 Deadline for Victims of 2017 Hurricanes and Tropical Storms

Your clients in Puerto Rico, the U.S. Virgin Islands and American Samoa who were affected by last year’s hurricanes and are required to file a 2017 federal income tax return must file and pay by June 29. The special extended deadline is available regardless of whether your client’s residence changed during 2017.

In addition, bona fide residents of Puerto Rico, the U.S. Virgin Islands and American Samoa, who permanently relocated to the U.S. mainland due to last year’s hurricanes and tropical storms may need to file Form 8898, Statement for Individuals Who Begin or End Bona Fide Residence in a U.S. Possession, with their Form 1040 or Form 1040NR. Clients who file for an income-tax-filing extension will have until Oct. 15, to file Form 8898. See Notice 2018-19, and Publication 570, Tax Guide for Individuals With Income From U.S. Possessions, for more information.

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4.  IRS Letter CP2000

Learn about the IRS CP2000 letter and how to respond to it on behalf of your clients by reviewing this new YouTube video https://youtu.be/3R0POvqL3Ko.

You can watch this video and others on the IRS YouTube Channel.

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5.  ETAAC Issues Annual Report to Congress

The Electronic Tax Administration Advisory Committee (ETAAC) this week released its annual report to Congress with numerous recommendations on electronic tax administration. ETAAC works with the Security Summit, a joint effort of the IRS, state tax administrators, tax software providers, tax professionals and financial services firms to fight fraud.

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6.  Taxpayer Advocate Report Focuses on Customer Service

The National Taxpayer Advocate this week identified priority areas in a mid-year report to Congress. The report focuses on customer service challenges and also presents a review of the 2018 filing season.

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7.  Technical Guidance

Notice 2018-59 provides two methods for taxpayers to establish the beginning of construction (Physical Work Test and Five Percent Safe Harbor), a Continuity Requirement for both methods, rules for transferring energy property, and additional rules applicable to the beginning of construction requirement of section 48 of the Internal Revenue Code.

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