Issue Number: 2018-44
Inside This Issue
- Get Ready Campaign: New Publication on Tax Reform Basics
- Enrollment Renewal Begins for Enrolled Agents
- IRS Proposes Regulations on Potential Income Inclusions
- Advisory Council to Expand
- Tax Relief for Typhoon Victims
- Webinar: Employment Tax Updates and Reminders
- IRS, Free File Alliance Improve 2019 Free File Program
- Technical Guidance
1. Get Ready Campaign: New Publication on Tax Reform Basics
The IRS launched its third Get Ready campaign this week to bring awareness to issues affecting abilities to timely file tax returns and obtain refunds as quickly as possible. The campaign includes the new IRS Publication 5307, Tax Reform Basics for Individuals and Families, which provides information on how to help individuals understand and comply with their federal tax return filing requirements.
For more information, visit IRS.gov/getready.
Back to top
2. Enrollment Renewal Begins for Enrolled Agents
Enrollment renewal began this week for enrolled agents (EAs) whose SSNs end in 0, 1, 2, or 3. The deadline for renewal is Jan. 31, 2019, to ensure processing before the current enrollment cards expire on March 31, 2019.
The IRS Return Preparer Office emailed the following message to affected EAs.
EAs may submit enrollment renewal applications and payments online on Pay.gov.
Back to top
3. IRS Proposes Regulations on Potential Income Inclusions
The IRS issued proposed regulations this week reducing the amount determined under Internal Revenue Code section 956 for certain domestic corporations that own (or are treated as owning) stock in controlled foreign corporations. Treasury and IRS welcome public comments on these proposed regulations.
Updates and other tax law changes can be found on the Tax Reform page of IRS.gov.
Back to top
4. Advisory Council to Expand
The Internal Revenue Service Advisory Council (IRSAC) will expand to incorporate two other advisory groups, the Information Reporting Program Advisory Committee and the Advisory Committee on Tax Exempt and Government Entities, the IRS announced this week. The combined IRSAC will provide a unified platform for representatives of the tax community and the IRS to discuss pressing tax administration issues.
Visit IRS Advisory Committees on IRS.gov for more information.
Back to top
5. Tax Relief for Typhoon Victims
The President has declared a major disaster in the Commonwealth of the Northern Mariana Islands due to Super Typhoon Yutu that began on Oct. 24. Individuals who reside or have a business in the Municipalities of Rota, Saipan, Tinian and the Northern Islands may qualify for tax relief.
Visit IRS.gov/disaster for more information on tax relief for victims of Super Typhoon Yutu, Hurricanes Michael and Florence and recent disasters in Wisconsin.
Back to top
6. Webinar: Employment Tax Updates and Reminders
The IRS and the Social Security Administration will present the webinar, Racing Towards Year End: Employment Tax Updates and Reminders, at 1 p.m. Eastern Time on Nov. 6. The two-hour web conference will provide information on:
- Information Security Policy Requirements
- How to Recover from a Data Breach
- Employer Credit for Paid Family and Medical Leave
- W-2C Online & W-2C Wage File Upload
Visit the Upcoming Webinars page on IRS.gov for a complete list of webinars.
Back to top
7. IRS, Free File Alliance Improve 2019 Free File Program
The IRS and the Free File Alliance announced an agreement to strengthen and expand taxpayer options to use the free online software program during the 2019 filing season. The agreement updates several areas designed to make the Free File program more taxpayer friendly while strengthening consumer protections in several key areas.
Back to top
8. Technical Guidance
Notice 2018-83 provides a listing of dollar limitations applicable to qualified retirement plans as adjusted for cost-of-living adjustments for 2019.
Back to top
    
Thank you for subscribing to e-News for Tax Professionals an IRS e-mail service.
If you have a specific concern about your client's tax situation, call the IRS Practitioner Priority Service 1-866-860-4259.
This message was distributed automatically from the mailing list e-News for Tax Professionals. Please Do Not Reply To This Message
To subscribe to or unsubscribe from another list, please go to the e-News Subscriptions page on the IRS Web site.
|
