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Useful Links:Stakeholders Partners' Training and Upcoming EventsSeminars, Workshops, Conferences, and Other Practitioner Activities By State:Alabama Kentucky North Dakota | Issue Number: 2013-16Inside This Issue
1. IRS Announces Three-Month Filing, Payment Extension following Boston Marathon Explosions The Internal Revenue Service announced a three-month tax filing and payment extension to Boston area taxpayers and others affected by Monday’s explosions. 2. Penalty Relief Available to Some Storm Victims Unable To File On Time The Internal Revenue Service will provide penalty relief to anyone unable to file on time due to severe storms in parts of the South and Midwest over the past few days. 3. YouTube: IRS Withholding Calculator Now that filing season is over, do you have clients who had too much or too little tax taken out of their paychecks? If so, refer them to this new YouTube video about using the IRS withholding calculator. Watch this and other videos on the IRS YouTube Channel. 4. May 13 Phone Forum: What You Need to Know About the IRS Final 401(k) Questionnaire Report and Next Steps Earn continuing education credit in this May 13 Phone Forum. The 401(k) Compliance Check Questionnaire Final Report covers plan form and operational issues compiled from data provided by 401(k) plan sponsors. IRS experts will highlight significant findings and next steps, including outreach, guidance and compliance projects. They’ll also discuss a new self-audit tool to help 401(k) plan sponsors avoid costly mistakes. If you have a specific matter that you would like addressed in the forum, send an email to ep.phoneforum@irs.gov by May 6. 5. Technical Guidance Revenue Ruling 2013-11 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. These rates are determined as prescribed by § 1274. The rates are published monthly for purposes of sections 42, 382, 412, 1288, 1274, 7520, 7872, and various other sections of the Internal Revenue Code. Revenue Ruling 2013-11 will be published in Internal Revenue Bulletin 2013-20 dated May 13, 2013. Notice 2013-17 addresses circumstances in which an Employee Stock Option Plan (ESOP) that satisfied the diversification requirements of § 401(a)(28)(B)(i) by allowing distribution of a portion of a participant’s account has become subject to the diversification requirements of § 401(a)(35). Notice 2013-17 will be published in Internal Revenue Bulletin 2013-20 on May 13, 2013. Notice 2013-29 provides guidelines and a safe harbor to determine when construction has begun on a facility eligible to receive the renewable electricity production tax credit (PTC) under section 45, or the energy investment tax credit (ITC) under section 48 Notice 2013-29 will be published in Internal Revenue Bulletin 2013-20 on May 13, 2013. 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. | ||
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