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 | | Updates and/or additions are listed in chronological order with the latest updates at the top of the page. February 2010- TAXPRO Journal - Members Only - The Winter 2010 edition is now available.
- You Make the Call - During a meeting on April 12th, Josephine Bikis, a new client explains that she is in the United States until April 18th because she wanted to make sure that her joint tax return is completed on time. She provided you with the filing details. She and her husband Jimmy are U.S. citizens currently living in Spain; Jimmy was transferred there 18 months ago by his company. She joined him six months ago. During the meeting you and Josephine realize that two pieces of information needed to complete the return are missing. Josephine gets a worried look on her face because she is not sure if she will be able to get the missing information before April 15th. Is there anything you can say that will take the worried look off of Josephine's face?
- Member of the Month - Meet Linda Dunkley - NATP's February 2010 Member of the Month.
January 2010- TAXPRO Monthly Newsletter - Members Only - The February 2010 edition is now available.
- Announcement 2010-09 - The IRS is considering changes to reporting requirements regarding certain business taxpayers' uncertain tax positions in order to improve tax compliance and administration. The Service is developing a schedule requiring certain business taxpayers to report uncertain tax positions on their tax returns. This announcement discusses the potential content of such a schedule and invites public comment on the Service's proposed approach.
- Revenue Procedure 2010-15 - Circumstances under which the disclosure on a taxpayer's income tax return with respect to an item or a position is adequate for the purpose of reducing the understatement of income tax under §6662(d).
- TAXPRO Weekly - Members Only Section - The January 21, 2010 edition of TAXPRO Weekly is now available.
- Revenue Procedure 2010-10 - Maximum vehicle values for use with special valuation rules under Reg § 1.61-21(d) and Reg § 1.61-21(e).
- Ohio Chapter - The latest edition of the Chapter Newsletter is now available.
- Nevada Chapter - The latest edition of the Chapter Newsletter is now available.
- Kansas Chapter - The latest edition of the Chapter Newsletter is now available.
- South Carolina Chapter - The latest edition of the Chapter Newsletter is now available.
- Wisconsin Chapter - The latest edition of the Chapter Newsletter is now available.
- Notice 2010-6 - Relief and guidance on corrections of certain failures of a nonqualified deferred compensation plan to comply with §409A(a)
- IRS Publication 2043 - IRS e-file Refund Cycle Chart.
- Pennsylvania Chapter - The latest edition of the Chapter Newsletter is now available.
December 2009- Illinois Chapter - The latest edition of the Chapter Newsletter is now available.
- TD 9478 - Amendments to the Section 7216 regulations – Disclosure or Use of Information by Preparers of Returns.
- Tennessee Chapter - The latest edition of the Chapter Newsletter is now available.
- California Chapter - The latest edition of the Chapter Newsletter is now available.
- REG 101896-09 - Contains proposed amendments to the Income Tax Regulations (26 CFR part 1), the Regulations on Employment Tax and Collection of Income Tax at the Source (26 CFR part 31), and the Regulations on Procedure and Administration (26 CFR part 301) relating to information reporting by brokers and others as required by section 6045. This document also contains proposed amendments relating to the scope and computation of basis by the average basis method under section 1012 and to new information reporting requirements by brokers, custodians, and issuers of securities under sections 6045A and 6045B.
- Notice 2010-9 - This notice provides additional time for furnishing certain annual tax reporting statements for reportable items from calendar year 2009 due to President's Day falling on February 15, 2010.
- Texas Chapter - The latest edition of the Chapter Newsletter is now available.
- Revenue Ruling 2009-40 - This revenue ruling provides tables of covered compensation under §401(l)(5)(E).
- Revenue Ruling 2009-39 - Guidance detailing how an employer corrects employment tax reporting errors using the interest-free adjustment and refund claim processes under §§6205, 6402, 6413, and 6414.
- Alabama/Mississippi Chapter - The latest edition of the Chapter Newsletter is now available.
- Florida Chapter - The latest edition of the Chapter Newsletter is now available.
- Minnesota Chapter - The latest edition of the Chapter Newsletter is now available.
- Revenue Procedure 2009-54
This revenue procedure updates Rev. Proc. 2008-72, 2008-2 C.B. 1286, and provides optional standard mileage rates for taxpayers to use in computing the deductible costs of operating an automobile for business, charitable, medical, or moving expense purposes. This revenue procedure also provides rules under which the amount of ordinary and necessary expenses of local travel or transportation away from home that are paid or incurred by an employee are deemed substantiated under § 1.274-5 of the Income Tax Regulations if a payor (an employer, its agent, or a third party) provides a mileage allowance under a reimbursement or other expense allowance arrangement.
- Revenue Procedure 2009-53
The purpose of this revenue procedure is to extend the Attributed Tip Income Program (ATIP) for two additional years. The requirements for participating in ATIP are set forth in Rev. Proc. 2006-30, 2006-2 CB 110.
- New Jersey Chapter - The latest edition of the Chapter Newsletter is now available.
November 2009- Wisconsin Chapter - The latest edition of the Chapter Newsletter is now available.
- Notice 2009-93 - Guidance on truncating taxpayer identification numbers.
- Revenue Procedure 2009-52 - This revenue procedure provides guidance under the Worker, Homeownership, and Business Assistance Act of 2009, allowing taxpayers to elect to carry back an applicable net operating loss (NOL) for a period of 3, 4, or 5 years, or a loss from operations for 4 or 5 years, to offset taxable income in those preceding taxable years.
- Missouri Chapter - The latest edition of the Chapter Newsletter is now available.
- Notice 2009-91 - Withholding on wages of nonresident alien employees performing services within the United States
- Michigan Chapter - The latest edition of the Chapter Newsletter is now available.
- Tax Act Summaries - Download NATP's Summary of the Worker, Homeownership, and Business Assistance Act of 2009.
- Arizona Chapter - The latest edition of the Chapter Newsletter is now available.
- Utah Chapter - The latest edition of the Chapter Newsletter is now available.
- Pennsylvania Chapter - The latest edition of the Chapter Newsletter is now available.
- Member of the Month - Meet Christopher Matysek, EA - NATP's November 2009 Member of the Month.
October 2009- Revenue Procedure 2009-51 - This revenue procedure sets forth the procedures to request to file Form 944, Employer's ANNUAL Federal Tax Return (i.e., to opt in). In addition, this revenue procedure sets forth the procedures for employers who previously were notified to file Form 944 to opt out.
- New Mexico Chapter - The latest edition of the Chapter Newsletter is now available.
- Notice 2009-85 - Guidance on the mark-to-market rules for expatriates.
- Revenue Procedure 2009-50 - 2010 Inflation adjusted standard deduction, personal exemption, and tax brackets.
- Iowa Chapter - The latest edition of the Chapter Newsletter is now available.
- Georgia Chapter - The latest edition of the Chapter Newsletter is now available.
- Virginia Chapter - The latest edition of the Chapter Newsletter is now available.
- Alabama/Mississippi Chapter - The latest edition of the Chapter Newsletter is now available.
- Minnesota Chapter - The latest edition of the Chapter Newsletter is now available.
- California Chapter - Register now for the regional dinner meetings to be held in Fresno, Hawyard, Gardena, and San Diego.
- Connecticut Chapter - The latest edition of the Chapter Newsletter is now available.
- New York Chapter - The latest edition of the Chapter Newsletter is now available.
- Massachusetts Chapter - The latest edition of the Chapter Newsletter is now available.
- Revenue Procedure 2009-47 - This revenue procedure updates the rules under which the amount of ordinary and necessary business expenses of an employee for lodging, meal, and incidental expenses incurred while traveling away from home are deemed substantiated under Reg. §1.274-5 when a payor provides a per diem allowance under a reimbursement or other expense allowance arrangement.
September 2009- Maine Chapter - The latest edition of the Chapter Newsletter is now available.
- Washington Chapter - The September edition of the Chapter Newsletter is now available.
- Notice 2009-82 - This notice provides guidance relating to the waiver of 2009 required minimum distributions.
- Notice 2009-81 - Extension of the replacement period under §1033(e) for livestock sold on account of drought in specified counties.
- Illinois Chapter - The September edition of the Chapter Newsletter is now available.
- Louisiana Chapter - Register today for the 2009 Annual Seminar and Meeting to be held December 1st in Kenner.
- Wisconsin Chapter - The September edition of the Chapter Newsletter is now available.
- Louisiana Chapter - The September edition of the Chapter Newsletter is now available.
- Revenue Procedure 2009-44 - This revenue procedure expands and clarifies the types of cases that may be mediated in Appeals.
- Notice 2009-75 - Tax consequences of rolling over a distribution from a qualified plan to a Roth IRA
- Ohio Chapter - The Fall edition of the Chapter Newsletter is now available.
- Revenue Ruling 2009-32 - Addresses similar contributions at termination of employment.
- Revenue Ruling 2009-31 - Addresses annual contributions of payments employees would receive for unused vacation or other similar leave to an ongoing defined contribution plan, whether as employer contributions or elective 401(k) contributions.
- Revenue Ruling 2009-30 - Demonstrates ways a 401(k) plan sponsor can include automatic contribution increases in its plan.
- Revenue Procedure 2009-41 - Relief for late entity classification election.
- Notice 2009-68 - Simplifies the presentation of an employee's options when receiving an eligible rollover distribution.
- Notice 2009-67 - Provides sample automatic contribution language that a SIMPLE IRA plan sponsor can adopt with automatic IRS approval.
Notice 2009-66 - Includes guidance to help small employers add automatic enrollment to their SIMPLE IRA plans.
- Notice 2009-65 - Provides sample automatic enrollment plan language that a 401(k) plan sponsor can adopt with automatic IRS approval.
- New York Chapter - The latest edition of the Chapter Newsletter is now available.
- Hawaii Chapter - The latest edition of the Chapter Newsletter is now available.
- California Chapter - The latest edition of the Chapter Newsletter is now available.
- Revenue Procedure 2009-39 - Revised procedures for requesting an automatic change of accounting method.
- Government Relations - Read NATP's Comments regarding the impact of IRS Code Section 7216 on the tax professional
- Missouri Chapter - The latest edition of the Chapter Newsletter is now available.
- South Carolina Chapter - The latest edition of the Chapter Newsletter is now available.
- Indiana Chapter - The latest edition of the Chapter Newsletter is now available.
- Pennsylvania Chapter - The Summer edition of the Chapter Newsletter is now available.
August 2009- Florida Chapter - The Summer edition of the Chapter Newsletter is now available.
- Kentucky Chapter - The August edition of the Chapter Newsletter is now available.
- Kansas Chapter - The August edition of the Chapter Newsletter is now available.
- Virginia Chapter - The Summer edition of the Chapter Newsletter is now available.
- Georgia Chapter - The August edition of the Chapter Newsletter is now available.
- Notice 2009-70 - Section 704(c) layers relating to partnership mergers, divisions and tiered partnerships.
- Introduction to Schedule E - The 2009 edition of the self-study course is now available.
- Introduction to Schedule D - The 2009 edition of the self-study course is now available.
- Arizona Chapter - The latest edition of the Chapter Newsletter is now available.
- Notice 746 - Information about IRS notices, penalties and interest.
- Notice 2009-62 - Information on the Report of Foreign Bank and Financial Accounts (FBAR) for governmental agencies that may be used in criminal, tax or regulatory investigations or proceedings, or in the conduct of intelligence or counterintelligence activities, including analysis, to protect against international terrorism.
- California Chapter - The August edition of the Chapter Newsletter is now available.
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National Association of Tax Professionals
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Phone: 800.558.3402 Fax: 800.747.0001
E-Mail: natp@natptax.com
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