e-News for Tax Professionals Issue 2013-27

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Issue Number:  2013-27

Inside This Issue

1. Modernized e-File (MeF) Scheduled Downtime – July 5, 2013
2. Extended Hotel Block for 2013 IRS Nationwide Tax Forum in Dallas!
3. Additional Counties in Oklahoma added to FEMA Disaster Areas
4. Technical Guidance

This is a reminder that due to the current budget situation, the IRS plans to be closed on July 5, July 22 and August 30. The MeF system (Production and ATS) will not be available from 10:00 p.m., Eastern of the prior day until 10:00 a.m., Eastern of the following day, on these dates. For example, when the closure falls on a Friday, the system will be unavailable from 10:00 p.m., Eastern on Thursday until 10:00 a.m., Eastern on Saturday.

MeF Production & ATS Downtime:
Shutdown is scheduled to begin on Thursday, July 4, 2013 at 10:00 p.m., Eastern and end at 10:00 a.m., Eastern on Saturday, July 6, 2013.

Important Note: States that schedule retrieval of their state submissions may have to change their schedule in order to retrieve submissions in time to validate returns and submit acknowledgements by 10:00 p.m., Eastern on Juy 4th. Anything not retrieved thru MeF by 10:00 p.m., Eastern cannot be accessed again until MeF reopens for Production on July 6th.

Deadlines on Thursday, July 4th, Eastern Time                 
Transmitters:
      Transmitting Submissions (State & Federal)             8:00 p.m.
      Retrieving Acknowledgements                                 10:00 p.m.
States:
      Transmitting Acknowledgements                              9:30 p.m.
Start Up on Saturday, July 6th, Eastern Time
Transmitters & States                                                    10:00 a.m.

Please monitor the MeF Status Page for any updates. We apologize for any inconvenience and thank you for your cooperation.

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This just in for last minute attendees for Dallas!  The deadline for booking your room at the Gaylord Texan has been extended until Friday, July 5th.  Don't miss out.
 
The tax forums will visit the following cities: Orlando, FL and Grapevine (Dallas), TX in July; New Orleans, LA, Atlanta, GA, and Washington, DC National Harbor in August; and San Diego, CA in September.

Pre-register at least two weeks prior to each forum in order to take advantage of the early enrollment discount and earn up to 18 Continuing Education credits in one location.

For more information or to register, visit the IRS Nationwide Tax Forum website at www.irstaxforum.com.

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FEMA has added additional counties to the recently declared Oklahoma disaster areas.

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Notice 2013-48 establishes a de minimis exception to the wash sale rules of § 1091 for certain redemptions of shares of money market funds that, under regulations proposed by the Securities and Exchange Commission, would no longer maintain a constant share price.  Under the proposed revenue procedure, if a taxpayer realizes a loss upon a redemption of shares in such a fund, and the amount of the loss is not more than .5 percent of the taxpayer’s basis in the shares, the IRS will treat such loss as not subject to § 1091.

Notice 2013-48, will be published in Internal Revenue Bulletin 2013-31 on July 29, 2013.

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