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Information Returns Intake System (IRIS) Working Group Meeting

Attention: Software Developers and Information Return Transmitters Please join us for an Information Returns Intake System (IRIS) Working Group Meeting. This call is intended for software developers, transmitters and states interested in the IRIS system. The purpose is to provide IRIS-related information that can better help users avoid unnecessary filing errors, address any known issues or workarounds and to provide important filing dates and deadlines. Please plan to join the webinar. Information Returns Intake System (IRIS) Working Group Meeting Wednesday, October 11 1:00 PM - 2:00 PM EDT Online event

Join the Information Returns Intake System (IRIS) Working Group Meeting If you’re a software developer, transmitter, or state representative keen on understanding more about the Information Returns Intake System (IRIS), we have an event just for you. We are hosting an IRIS Working Group Meeting, a virtual event that is sure to provide you with […]

e-News for Tax Professionals 2023-40

Clean vehicle credits; improper art donation deduction promos; improving the taxpayer experience; WOTC; and more Upcoming Events Seminars, Workshops, Conferences, and Other Practitioner Activities By State: Issue Number: 2023-40 Inside This Issue * Guidance, updated FAQs for the transfer of clean vehicle credits * IRS: Beware of improper art donation deduction promotions * A Closer Look: Improving the taxpayer experience * Know the benefits of the Work Opportunity Tax Credit * Technical Guidance 1.  Guidance, updated FAQs for the transfer of clean vehicle credits The IRS issued proposed regulations, Revenue Procedure 2023-33 and answers to frequently asked questions for the transfer of new and previously owned clean vehicle credits from the taxpayer to an eligible entity for vehicles placed in service after Dec. 31, 2023. 2.  IRS: Beware of improper art donation deduction promotions Tax pros: Watch for promotions involving exaggerated art donation deductions that can target high-income filers. 3.  A Closer Look: Improving the taxpayer experience In the latest executive column, A Closer Look, Courtney Kay-Decker, Deputy Chief Taxpayer Experience Officer, highlights the IRS’s efforts to improve the experience for taxpayers and everyone who interacts with the agency. 4.  Know the benefits of the Work Opportunity Tax Credit Giving someone a work opportunity may translate into a business tax credit for your client and greater stability for a family. 5.  Technical Guidance Revenue Procedure 2023-33 sets forth the procedures under sections 30D(g) and 25E(f) of the Internal Revenue Code for the transfer of the clean vehicle credit or previously owned clean vehicle credit from the taxpayer who elects to transfer such credit to an eligible entity.

e-News for Tax Professionals 2023-40: Key Updates and Insights In this week’s edition, we delve into a variety of important topics for tax professionals, including clean vehicle credits, art donation deduction promotions, improving taxpayer experiences, the Work Opportunity Tax Credit (WOTC), and more. Upcoming Events for Tax Professionals Stay informed and up-to-date with a range […]

#ICYMI Top CI Stories from the Past Week

ICYMI: Top IRS Criminal Investigation (CI) Stories From The Past Week Oct. 10, 2023 Useful Links About CI What do we investigate? How investigations are initiated J5 international partnership IRS.gov/CI Tax Schemes and Fraud Tax Fraud Alerts Report Suspected Tax Fraud Voluntary Disclosure CI Newsroom CI News Releases CI Resources CI Annual Reports Week of Oct. 2 - 8 #ICYMI Top CI Stories from the Past Week 1. New special agent in charge takes the helm at IRS-CI in Washington D.C. "IRS-CI special agents are the only federal law enforcement special agents with investigative jurisdiction over violations of the Internal Revenue Code and we are the best at what we do, which translates to a 90 percent conviction rate," SAC Kareem Carter said. 2. Guard your money and your heart Romance scams are on the rise. Like The Bachelor, we want to be sure everyone is here for the right reasons. 3. We prioritize speaking to America's future financial experts We always appreciate the opportunity to talk to our future financial investigators. 4. Five sent to prison in nationwide fraud scheme targeting elderly victims Special Agent in Charge Ramsey E. Covington of our Houston Field Office said it best. 5. Follow for the latest news on financial investigations around the country Did you know? We have seven official accounts on X, including our national account and six additional accounts in select field offices throughout the U.S. CI is the criminal investigative arm of the IRS, responsible for conducting financial crime investigations, including tax fraud, narcotics trafficking, money-laundering, public corruption, healthcare fraud, identity theft and more. CI special agents are the only federal law enforcement agents with investigative jurisdiction over violations of the Internal Revenue Code, obtaining a more than a 90 percent federal conviction rate. The agency has 20 field offices located across the U.S. and 12 attaché posts abroad.

Recap: Top Stories from IRS Criminal Investigation Last Week In case you missed it, here’s a recap of the top stories from the IRS Criminal Investigation (CI) division for the week of October 2nd to 8th, 2023. New Leadership at IRS-CI in Washington D.C. A new Special Agent in Charge has taken the reins at […]

Elective Payments of Credits under the Inflation Reduction Act: Pre-file Registration and Timely Filing Required

Elective Payments of Credits under the Inflation Reduction Act: Pre-file Registration and Timely Filing Required Tax-exempt and governmental entities, including those that were generally unable to use tax credits previously, can now benefit from clean energy tax credits using new options enabled by the Inflation Reduction Act of 2022. Elective pay makes certain clean energy tax credits effectively refundable. For tax years beginning after December 31, 2022, an applicable entity that qualifies for a clean energy tax credit can make an elective payment election. This election will treat certain credits as a payment against their federal income tax liabilities rather than as a nonrefundable credit. This payment will first offset any tax liability of the entity and any excess will be refundable. Applicable entities generally include tax-exempt organizations, state and local governments, Indian tribal governments, Alaska Native Corporations, the Tennessee Valley Authority and rural electric cooperatives. Specific criteria for each type of applicable entity are included in the resources below. The Internal Revenue Service issued proposed regulations describing rules and definitions concerning elective payments for the clean energy tax credits. The IRS has also issued temporary regulations regarding the pre-filing registration requirements for taxpayers planning to make an elective payment election. The pre-filing registration process must be completed, and a registration number received, prior to making an elective payment election on an annual tax return. Entities for which no such return is required (such as state and local governments and Indian tribal governments) will file Form 990-T to make the elective payment election. An elective payment election may only be made on a timely filed return (including extensions). Applicable entities will need their own Employer Identification Number (EIN) or Tax Identification Number (TIN) to complete the pre-filing registration process. Applicable entities cannot use or borrow the EIN of a related entity. To apply for an EIN online, visit IRS.gov/EIN. The IRS is continuing to work to implement the elective payment process and will provide more information, including about the pre-filing registration process, in late 2023. For more information on elective pay, the IRS has posted Frequently Asked Questions that discuss eligibility, applicable credits, steps for completing pre-file registration, steps for making an election, and other rules. Additionally, the IRS has a series of publications with key information specifically for various types of applicable entities that may make an elective payment election, including information on how to make the elective pay election and what to do to receive a payment: Elective Pay Overview, Publication 5817 (PDF) Rural Electric Cooperatives, Publication 5817-A (PDF) U.S. Territorial Governments, Publication 5817-B (PDF) Alaska Native Corporations, Publication 5817-C (PDF) Tax-Exempt Organizations, Publication 5817-D (PDF) State and Local Government, Publication 5817-E (PDF) Indian Tribal Governments, Publication 5817-F (PDF) Clean Energy Tax Incentives: Elective Pay Eligible Tax Credits, Publication 5817-G (PDF) The tax-exempt bond community can find answers to many questions at IRS.gov/bonds. If you’re unable to find answers to account-specific questions, call Customer Account Services at 877-829-5500. If you know someone who wants to subscribe to the TEB Community Update, forward this message to them to subscribe. To subscribe to other IRS news, click IRS Newsletters or IRS Social Media. This message was distributed automatically from the TEB Community Update mailing list. Please do not reply to this message.

Understanding Elective Payments of Credits under the Inflation Reduction Act: The Importance of Pre-file Registration and Timely Filing In a significant development for tax-exempt and governmental entities, the Inflation Reduction Act of 2022 has ushered in new opportunities to benefit from clean energy tax credits. This is particularly beneficial for entities that were previously unable […]

TE/GE Releases the FY2024 Program Letter

TE/GE Releases the FY2024 Program Letter The Tax Exempt & Government Entities (TE/GE) Fiscal Year 2024 Program Letter lists our priorities for the new fiscal year. Our Fiscal Year 2024 compliance program and priorities align with the objectives of the IRS Strategic Operating Plan (SOP): Service (Better Taxpayer Experience) Issue Resolution (Faster Issue Resolution) Enforcement (Smarter Enforcement) Modernization (Advanced Technology and Analytics) Workforce (Empowered Employees) We plan to release a summary of our Fiscal Year 2023 accomplishments during the first quarter Fiscal Year 2024. You can also view our annual program and accomplishment letters from previous years. For the latest TE/GE news, connect via IRS Social Media and subscribe to this and other IRS newsletters. This message was distributed automatically from the Tax Exempt & Government Entities Updates mailing list. Please do not reply to this message.

Unveiling the TE/GE FY2024 Program Letter In the realm of Tax Exempt & Government Entities (TE/GE), the anticipation for the Fiscal Year 2024 Program Letter has finally come to an end. This letter serves as a beacon, guiding us through the priorities set for the upcoming fiscal year. Aligning with the IRS Strategic Operating Plan […]

Annual Self-Certification and E-file Application URL Registration

QuickAlerts for Tax Professionals October 4, 2023 e-file Resources QuickAlerts Library QuickAlerts Article QuickAlerts Brochure e-file for Tax Pros Software Developers IRS.gov Refund Information Other Useful Links Tax Professionals Home All Forms and Instructions Stakeholders Partners' Headliners Training and Communication Tools e-Services Disaster Relief Internal Revenue Bulletins Subject: Annual Self-Certification and E-file Application URL Registration ATTN: Authorized IRS e-file Providers/EROs This is a reminder that all Online Providers must complete the annual self-certification questions beginning October 1, 2023, to ensure they comply with Publication 1345 IRS e-file security, privacy, and business standards. If you are an Authorized IRS e-file Provider who owns or operates a website(s) that collects, transmits, stores or processes taxpayer information, the IRS also requires you to register those URL(s) on your e-file Application. The annual certification process includes the registration of these Websites. If you have not previously registered your URL(s), select the URL collection link on the e-file Application information page menu to register. Back to Top Thank you for subscribing to QuickAlerts for Tax Professionals, an IRS e-mail service. If you have an idea or a question related to QuickAlerts you can contact us by e-mail. Submissions which are not related to QuickAlerts will not be processed. If you have tax related questions you should pursue normal customer service channels provided on IRS.gov. If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe. This message was distributed automatically. Please Do Not Reply To This Message. Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page. You will need to use your email address to log in. If you have questions or problems with the subscription service, please contact subscriberhelp.govdelivery.com. This service is provided to you at no charge by the Internal Revenue Service (IRS). This email was sent to justin+irs@bosseo.com by: Internal Revenue Service (IRS) · Internal Revenue Service · 1111 Constitution Ave. N.W. · Washington DC 20535

Annual Self-Certification and E-file Application URL Registration: A Must-Do for Authorized IRS e-file Providers As we step into October, it’s time for a crucial reminder for all Online Providers. The annual self-certification questions have to be completed to ensure compliance with the IRS e-file security, privacy, and business standards as outlined in Publication 1345. Who […]

CL-2023-03SP: “Un vistazo de cerca” a cómo el IRS está mejorando la experiencia del contribuyente, y muchas más mejoras en camino

Hoy, el IRS publicó la columna ejecutiva más reciente, “Un vistazo de cerca”, que presenta a Courtney Kay-Decker, Directora adjunta de experiencia del contribuyente, destacando los esfuerzos del IRS para mejorar la experiencia de los contribuyentes y de todos los que interactúan con la agencia. “Durante 2023, estamos trabajando arduamente para realizar mejoras y avanzar hacia el objetivo del IRS de brindar un servicio excepcional todos los días”, dijo Kay-Decker. "Gracias a la financiación de la Ley de Reducción de la Inflación, ahora tenemos más capacidad para crear mejores experiencias y resultados para todos los contribuyentes". Lea más aquí. “Un vistazo de cerca” es una columna de los ejecutivos del IRS que cubre una variedad de temas actuales de interés para los contribuyentes y la comunidad tributaria. También provee una visión detallada de los problemas clave que afectan todo, desde las operaciones y los empleados del IRS hasta los problemas que involucran a los contribuyentes y los profesionales de impuestos. Vea aquí las publicaciones anteriores y nuevas actualizaciones. Gracias por suscribirse a Consejos Tributarios en Español del IRS, un servicio de correo electrónico del IRS. Para obtener más información sobre los impuestos federales, por favor visite la página de internet IRS.gov. Este mensaje fue distribuido automáticamente de la lista de correos electrónicos de Consejos Tributarios en Español del IRS. Por favor no responda a este mensaje.

CL-2023-03SP: A Closer Look at How the IRS is Enhancing the Taxpayer Experience, and More Improvements on the Way The Internal Revenue Service (IRS) has recently released its latest executive column, “A Closer Look,” featuring Courtney Kay-Decker, the Deputy Director of Taxpayer Experience. This column highlights the IRS’s ongoing efforts to improve the experience for […]

AATS Shutdown/Cutover for Filing Season 2024/Tax Year 2023

The AATS environment will be unavailable beginning Monday, October 30, 2023, at 9:00 a.m. Eastern time through Wednesday, November 1, 2023, at 9:00 a.m. Eastern time. IRS will update AATS programming for Filing Season 2024/Tax Year 2023 during that time. Please do not attempt to access the Application to Application (A2A) and User Interface (UI) Channels during the Shutdown period. The AATS environment will be available beginning Wednesday, November 1, 2023, at 9 a.m. Eastern time, for Filing Season 2024/Tax Year 2023 testing, which includes Tax Year(s) 2023, 2022, 2021, 2020, 2019, 2018, 2017, 2016 and 2015. Beginning November 1, 2023: Tax Year 2023 will be the current year in AATS. Tax Year(s) 2022, 2021, 2020, 2019, 2018, 2017, 2016 and 2015 will be accepted as prior year returns in AATS. The Production environment will be still available during the AATS Shutdown, except for the routine maintenance window that occurs each Sunday. Tax Year 2022 is still the current year in Production. Tax Year(s) 2021, 2020, 2019, 2018, 2017, 2016 and 2015 are still accepted as prior year returns in Production.

Scheduled Downtime for AATS During Filing Season 2024/Tax Year 2023 In preparation for the upcoming Filing Season 2024/Tax Year 2023, the AATS (Affordable Application Testing Service) environment will be undergoing a scheduled shutdown. This is to facilitate necessary updates to the AATS programming to ensure a seamless tax filing process for all users. Unavailability of […]

Deciphering IRS Form 1040 and Its Variations

Deciphering IRS Form 1040 and Its Variations The Internal Revenue Service (IRS) is the federal agency responsible for collecting taxes and administering the Internal Revenue Code, the main body of federal statutory tax law in the United States. One of the most commonly used tax forms in the U.S. is Form 1040, the U.S. Individual Income Tax Return. This form is used by U.S. taxpayers to report their annual income, calculate their tax liability, and claim any refunds they might be entitled to. However, Form 1040 isn't just a single form; it comes with various schedules and variations tailored to different taxpayer needs. Let's delve into the details. 1. Form 1040: The U.S. Individual Income Tax Return Form 1040 is the standard form used by U.S. citizens or residents to file their annual income tax return. It captures details about a taxpayer's income, deductions, and credits to determine the amount of tax owed or refund due. Description: Form 1040 is the primary form for individuals to report their income, claim deductions and credits, and calculate their tax liability or refund. It's essential for all taxpayers, whether they have a simple or complex tax situation. 2. Instructions for Form 1040 For those who need guidance on completing Form 1040, the IRS provides Instructions for Form 1040. This document offers a step-by-step guide on how to fill out the form, ensuring accuracy and compliance. Description: A comprehensive guide that provides line-by-line instructions for filling out Form 1040, ensuring that taxpayers understand each section and its relevance. 3. Form 1040-SR: U.S. Tax Return for Seniors Recognizing the unique needs of senior citizens, the IRS introduced Form 1040-SR, a version of the tax return specifically designed for taxpayers aged 65 or older. It's similar to the standard Form 1040 but has a larger font and a more senior-friendly design. Description: An alternative to the standard Form 1040, Form 1040-SR is tailored for seniors, offering a clearer layout and larger print. It uses the same schedules and instructions as Form 1040. 4. Form 1040 (Schedule 1): Additional Income and Adjustments to Income For taxpayers with additional sources of income or adjustments that aren't directly reported on Form 1040, there's Schedule 1. This schedule captures additional income sources like alimony, business income, and unemployment compensation. Description: Schedule 1 is an addendum to Form 1040, capturing additional income and adjustments not directly reported on the main form. 5. Form 1040 (Schedule 2): Additional Taxes Schedule 2 is used by taxpayers who have additional taxes that aren't entered directly on Form 1040. This might include the Alternative Minimum Tax or household employment taxes. Description: An extension of Form 1040, Schedule 2 is for reporting additional taxes not directly captured on the main form. 6. Form 1040 (Schedule 3): Additional Credits and Payments For those with additional credits or payments not directly reported on Form 1040, Schedule 3 is the go-to document. This can include credits for child and dependent care expenses, education credits, and foreign tax credits. Description: Schedule 3 complements Form 1040 by capturing additional credits and payments not directly reported on the primary form. 7. Schedule A (Form 1040): Itemized Deductions Taxpayers who choose to itemize their deductions, rather than take the standard deduction, will need Schedule A. This schedule allows for the itemization of deductions such as medical expenses, state and local taxes, and charitable contributions. Description: Schedule A is for taxpayers itemizing their deductions, offering a detailed breakdown of eligible expenses that can reduce taxable income. Conclusion Navigating the tax landscape can be challenging, but understanding the various forms and schedules associated with Form 1040 can make the process smoother. Whether you're a standard taxpayer, a senior, or someone with complex financial situations, the IRS provides the necessary tools and instructions to ensure you can file your taxes accurately and efficiently. Always consult with a tax professional if you're unsure about any aspect of your tax return. -- Justin Scott Chief Marketing Officer 850-888-3393 justin@bosseo.com https://bosseo.com

Understanding IRS Form 1040 and Its Variations The Internal Revenue Service (IRS), the federal agency that collects taxes and administers the Internal Revenue Code, uses various forms to streamline the tax process. Among these, Form 1040, or the U.S. Individual Income Tax Return, is one of the most commonly used. This form allows U.S. taxpayers […]

Elective Payments of Credits under the Inflation Reduction Act: Pre-file Registration and Timely Filing Required

Elective Payments of Credits under the Inflation Reduction Act: Pre-file Registration and Timely Filing Required Tax-exempt and governmental entities, including those that were generally unable to use tax credits previously, can now benefit from clean energy tax credits using new options enabled by the Inflation Reduction Act of 2022. Elective pay makes certain clean energy tax credits effectively refundable. For tax years beginning after December 31, 2022, an applicable entity that qualifies for a clean energy tax credit can make an elective payment election. This election will treat certain credits as a payment against their federal income tax liabilities rather than as a nonrefundable credit. This payment will first offset any tax liability of the entity and any excess will be refundable. Applicable entities generally include tax-exempt organizations, state and local governments, Indian tribal governments, Alaska Native Corporations, the Tennessee Valley Authority and rural electric cooperatives. Specific criteria for each type of applicable entity are included in the resources below. The Internal Revenue Service issued proposed regulations describing rules and definitions concerning elective payments for the clean energy tax credits. The IRS has also issued temporary regulations regarding the pre-filing registration requirements for taxpayers planning to make an elective payment election. The pre-filing registration process must be completed, and a registration number received, prior to making an elective payment election on an annual tax return. Entities for which no such return is required (such as state and local governments and Indian tribal governments) will file Form 990-T to make the elective payment election. An elective payment election may only be made on a timely filed return (including extensions). Applicable entities will need their own Employer Identification Number (EIN) or Tax Identification Number (TIN) to complete the pre-filing registration process. Applicable entities cannot use or borrow the EIN of a related entity. To apply for an EIN online, visit IRS.gov/EIN. The IRS is continuing to work to implement the elective payment process and will provide more information, including about the pre-filing registration process, in late 2023. For more information on elective pay, the IRS has posted Frequently Asked Questions that discuss eligibility, applicable credits, steps for completing pre-file registration, steps for making an election, and other rules. Additionally, the IRS has a series of publications with key information specifically for various types of applicable entities that may make an elective payment election, including information on how to make the elective pay election and what to do to receive a payment: Elective Pay Overview, Publication 5817 (PDF) Rural Electric Cooperatives, Publication 5817-A (PDF) U.S. Territorial Governments, Publication 5817-B (PDF) Alaska Native Corporations, Publication 5817-C (PDF) Tax-Exempt Organizations, Publication 5817-D (PDF) State and Local Government, Publication 5817-E (PDF) Indian Tribal Governments, Publication 5817-F (PDF) Clean Energy Tax Incentives: Elective Pay Eligible Tax Credits, Publication 5817-G (PDF) The tax-exempt bond community can find answers to many questions at IRS.gov/bonds. If you’re unable to find answers to account-specific questions, call Customer Account Services at 877-829-5500. If you know someone who wants to subscribe to the TEB Community Update, forward this message to them to subscribe. To subscribe to other IRS news, click IRS Newsletters or IRS Social Media. This message was distributed automatically from the TEB Community Update mailing list. Please do not reply to this message.

Understanding Elective Payments of Credits under the Inflation Reduction Act: The Importance of Pre-file Registration and Timely Filing In a significant development for tax-exempt and governmental entities, the Inflation Reduction Act of 2022 has ushered in new opportunities to benefit from clean energy tax credits. This is particularly beneficial for entities that were previously unable […]