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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: 2013-36Inside This Issue
1. Interest Rates Unchanged for the Fourth Quarter of 2013 The Internal Revenue Service announced that interest rates will remain the same for the calendar quarter beginning Oct. 1. 2. Form 990 Availability Resumes; IRS Urges Filers Not to Include Social Security Numbers Following an internal review, the IRS has resumed making the Form 990 series filed by exempt organizations available. Based on the internal review, the IRS determined there is low risk of Social Security numbers (SSNs) being included in recent Form 990 filings. 3. Summer 2013 Statistics of Income Bulletin Now Available The summer 2013 issue of the Statistics of Income Bulletin is available on IRS.gov. The summer 2013 issue features data from Form W-2, Wage and Tax Statement, filed with individual income tax returns for tax years 2008 through 2010. 4. Proper Allocation of Taxpayers' Refunds Taxpayers may direct their refunds to more than one account at a bank or other financial institution in the United States using Form 8888, Allocation of Refund; however, they may not request deposit of their refunds to accounts that are not in their names, such as their tax preparers' accounts. And per regulations in Circular No. 230, a practitioner who prepares tax returns may not endorse or otherwise negotiate any check issued to a client by the government in respect of a federal tax liability. For questions and answers on splitting federal income tax refunds, visit Frequently Asked Questions on IRS.gov. 5. Technical Guidance REG-136630-12 -- Information Reporting by Applicable Large Employers on Health Insurance Coverage Offered Under Employer-Sponsored Plans -- Proposed regulations providing guidance to employers that are subject to the information reporting requirements under section 6056 of the Internal Revenue Code (Code), enacted by the Affordable Care Act. Section 6056 requires those employers to report to the IRS information about their compliance with the employer shared responsibility provisions of section 4980H of the Code and about the health care coverage they have offered employees. Section 6056 also requires those employers to furnish related statements to employees so that employees may use the statements to help determine whether, for each month of the calendar year, they can claim on their tax returns a premium tax credit under section 36B of the Code (premium tax credit). Written or electronic comments must be received by November 8, 2013. Requests to speak and outlines of topics to be discussed at a public hearing scheduled for November 18, 2013, at 10 a.m., must be received by November 8, 2013. These proposed regulations are scheduled to be published in the Federal Register Sep. 9, 2013.
These proposed regulations are scheduled to be published in the Federal Register Sep. 9, 2013. Notice 2013-56 provides transitional relief from penalties for a section 6050W filer reporting incorrect taxpayer identification number (TIN) information on information returns (Form 1099-K) and payee statements filed under section 6050W of the Internal Revenue Code. Notice 2013-56 will be published in Internal Revenue Bulletin 2013-39 on Sept. 23, 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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