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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: Issue Number 2013-47Inside This Issue
1. 2014 Standard Mileage Rates for Business, Medical and Moving Announced The Internal Revenue Service today issued the 2014 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2014, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
2. More than 122 million Returns e-Filed in 2013 The Internal Revenue Service this week announced a milestone for e-File: More than 122 million returns were filed electronically during 2013. 3. Saver’s Credit Helps Low and Moderate Income Workers Save for Retirement Low and moderate income workers can take steps now to save for retirement and earn a special tax credit for 2013 and the years ahead. 4. IRS Introduces First Free Electronic Payment Option IRS Direct Pay is a new payment application that allows individual taxpayers with a valid Social Security Number to make IRS payments directly from their checking or savings accounts. It’s free, secure and provides an electronic payment confirmation while reducing processing costs. Only Form 1040 payments and associated penalties can be made through IRS Direct Pay. IRS Direct Pay just began a pilot phase for a limited number of taxpayers (up to 1.2 million). These taxpayers will receive a flyer explaining the service with their balance due notices. The IRS would like you to be aware of the new product and the marketing effort in case you receive inquiries from clients participating in the test. We are asking you to not offer any information on this product to your clients until the test period is over. We will let you know when the test is over so you can begin sharing information about the tool. If you have clients participating in the test who are unable to submit their payments through IRS Direct Pay, please advise them to submit their payments through other electronic means. 5. Tax Relief for Victims of Severe Storms in Illinois Victims of severe storms, straight-line winds and tornadoes that began on Nov. 17 in parts of Illinois may qualify for tax relief. 6. Help Reduce Burden Check out this Taxpayer Burden Reduction video on the IRS Video Portal. The IRS is looking for ideas from the public that lead to streamlined procedures, simplified forms and publications and significantly reduced taxpayer burden. 7. Technical Guidance Notice 2013-77 announces that dividends and other distributions made by an Alaska Native Corporation to its shareholders are eligible for voluntary withholding under section 3402(p)(3)(B) of the Internal Revenue Code (Code) and § 31.3402(p)-1T of the Employment Tax Regulations. Notice 2013-77 will appear in IRB 50 dated Dec. 9, 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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