Issue Number: 2018-28
Inside This Issue
- Security Summit Partners Launch New Client Data Protection Awareness Campaign
- Attend Data Security Sessions at the IRS Nationwide Tax Forums
- Understanding Tax Scams and Abusive Schemes: July 19 Web Conference
- Certain Veterans Can Claim Refund or Credit of Taxes Paid on Disability Severance Payments
- Technical Guidance
1. Security Summit Partners Launch New Client Data Protection Awareness Campaign
The IRS and its Security Summit partners this week kicked off a summertime security awareness campaign: "Protect Your Clients; Protect Yourself: Tax Security 101."
This new effort by the IRS, state tax agencies and the nation's private-sector tax industry seeks to help tax professionals protect their client and personal data from cyber thieves. To mark the start of the campaign, the IRS revised Publication 4557, Safeguarding Taxpayer Data, to better reflect the current threats to tax professionals. The IRS also created a new product, Publication 5293, Data Security Resource Guide for Tax Professionals, which highlights a compilation of IRS.gov resources for tax preparers.
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2. Attend Data Security Sessions at the IRS Nationwide Tax Forums
The topic of data security is featuring prominently at the IRS Nationwide Tax Forums this summer. Tax practitioners are encouraged to attend any and all of the following security seminars presented by the IRS:
- Security and e-Services: How to Protect Your EFIN, PTIN and CAF Number
- Data Compromises – It’s Not a Matter of "If" but "When"
- Identity Theft and Victim Assistance: How It Works for You and Your Client
In addition, each Forum includes two sessions of "Cybersecurity for Tax Professionals," a seminar sponsored by the American Coalition for Taxpayer Rights and presented by security experts from the Pell Center at Salve Regina University.
The second of the 2018 Forums opens Tuesday at National Harbor in the Washington, D.C. area. To register, visit the IRS Nationwide Tax Forum website.
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3. Understanding Tax Scams and Abusive Schemes: July 19 Web Conference
Register now for the web conference, "Understanding Tax Scams and Abusive Schemes", on Thursday, July 19. This conference will provide an overview of:
- Abusive Tax Schemes and Promotors: How to Recognize Them
- 2018 Dirty Dozen Tax Schemes
- Goal of IRS Preparer and Promoter Investigations
- Reporting Suspected Abusive Tax Promotions and Preparers
Register for Session 1 at 11 a.m. EST, or Session 2 at 2 p.m. EST. Closed captioning is available for Session 2. Additionally, tax professionals can earn one CE Credit for participating.
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4. Certain Veterans Can Claim Refund or Credit of Taxes Paid on Disability Severance Payments
As a result of the Combat-Injured Veterans Tax Fairness Act of 2016, certain veterans who paid tax on disability severance payments after Jan. 17, 1991, can claim a credit or refund for those payments. The Department of Defense (DoD) is alerting over 130,000 affected veterans by mail.
Visit IRS.gov for details.
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5. Technical Guidance
Notice 2018-60 provides guidance on the corporate bond monthly yield curve, the corresponding spot segment rates used under section 417(e)(3), and the 24-month average segment rates under section 430(h)(2) of the Internal Revenue Code.
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