Updates and/or additions are listed in chronological order with the latest updates at the top of the page.

May 2008

  • New Jersey Chapter - Register today for a Breakfast Seminar on Philadelphia Taxation on May 29, 2008 in Mount Laurel.
     
  • TAXPRO Weekly - Members Only Section - The May 8, 2008 edition of TAXPRO Weekly is now available.
     
  • You Make the Call - The May 8 question asks: The taxpayer operates a donut shop in a commercial location. The employer furnishes lodging at a nearby location to some of the employees. The lodging is provided as a condition of employment and for the convenience of the employer but is not on the employer's business premises. The actual business location has no space for residential quarters. Is the lodging excluded from the employee's income under Sec. 119?
     
  • Guidance on Preparer Penalty Cases – This memorandum introduces the LMSB Procedures for Tax Return Preparer Penalty Cases.
     
  • Tax Court Press Release – Procedures for submitting an application to take the written exam for admittance to practice before the U.S. Tax Court.
     
  • Announcement 2008-44 – Individuals who have payments made by direct deposit under the Economic Stimulus Act of 2008 to their IRAs or certain other accounts may remove the payments without incurring any adverse tax consequences.
     
  • TAXPRO Journal - Members Only - The Spring 2008 edition is now available.
     
  • TAXPRO Monthly Newsletter - Members Only - The May 2008 edition is now available.
     
  • Welcome New Members - NATP would like to welcome the new members that joined in April 2008.
     
  • New York Chapter - The April edition of the Chapter newsletter is now available.
     
  • Member of the Month - Meet Karen Coombes - NATP's May 2008 Member of the Month.

April 2008

  • Georgia Chapter - The April edition of the Chapter newsletter is now available.
     
  • Circular 230 - Revised 04-08
     
  • CCA 200816030 – Qualified joint ventures that hold rental property are not subject to self–employment tax.
     
  • May 2008 AFRs & 7520 Rates - Members Only Section - The new rates are now available.
     
  • Notice 2008-46 - This notice provides guidance regarding implementation of the tax return preparer penalty provisions under IRC Sec. 6694, as amended by the Small Business and Work Opportunity Tax Act of 2007.
     
  • Alabama/Mississippi Chapter - The second quarter newsletter is now available.
     
  • Maryland Chapter - 4/14/08 - Maryland SB 817 passed to require licensure of tax return preparers – There's still time to contact the governor!
     
  • PROP-LEG, H.R. 5719 - Taxpayer Assistance and Simplification Act of 2008 as passed by the House Ways and Means Committee as well as a Summary of H.R. 5719.
     
  • H.R. 5716 – Taxpayer Bill of Rights Act of 2008 and the House of Representative's prepared Fact Sheet summarizing the key provisions of H.R. 5716.
     
  • REG-136596-07 - This document describes rules that the Treasury Department and the IRS are considering proposing, in a notice of proposed rulemaking, regarding the disclosure and use of tax return information by tax return preparers.  The rules would apply to the marketing of refund anticipation loans (RALs) and certain other products in connection with the preparation of a tax return.
     
  • TD-9375 - This document contains regulations to update the rules regarding the disclosure and use of tax return information by tax return preparers.  Among other things, the regulations finalize rules for taxpayers to consent to the disclosure or use of their tax return information by tax return preparers.
     
  • Government Relations - Read NATP's Comments regarding Advanced Notice of Proposed Rulemaking: Guidance Regarding Marketing of Refund Anticipation Loans (RALs) and Certain Other Products in Connection with the Preparation of a Tax Return
     
  • IRS Announcement 2008-21 – Procedures for requesting a copy of an exempt organizations Form 990-T.
     
  • Notice 2008-44 - The nonconventional source fuel credit, inflation adjustment factor, and reference price under § 45K of the Internal Revenue Code for calendar year 2007. These are used to determine the credit allowable under § 45K for fuel produced from a nonconventional source.
     
  • National Conference - Full details of our 2008 National Conference & Expo in Atlanta, Georgia are now available!

March 2008

  • Notice 2008-43 - Guidance to practitioners concerning contingent fees under Treasury Department Circular No. 230
     
  • NATP's 2008 Testimony on Licensure before the IRS Oversight Board
     
  • Stimulus Payment Schedule
     
  • Pennsylvania Chapter - RCT-101 Workshop - June 4, 2008 - Are you having difficulty preparing PA's form RCT-101 for a Single Member Limited Liability Company? When you receive a call from a prospective client who is looking for a new tax professional and they inform you that they have a Limited Liability Company, do you refer them to someone else? Then you need to attend this workshop.
     
  • Notice 2008-30 - Questions and answers with respect to certain qualified plan distribution-related provisions of the Pension Protection Act of 2006, that are effective in 2008. This notice also provides guidance on amending plans to require that distribution of excess deferrals includes earnings from the end of the taxable year to the date of distribution ("gap-period" earnings).
     
  • Notice 2008-36 - Updated procedures for determining the eligibility of a manufactured home for the energy efficient home credit.
     
  • Notice 2008-35 - Updated certification procedures for the energy efficient home credit.
     
  • Revenue Procedure 2008-22 - 2008 auto depreciation limits and lease inclusion tables.
     
  • Revenue Procedure 2008-21 - Explains how to e–file a tax return by those taxpayers who have low earned income and qualify for the stimulus rebate.
     
  • Revenue Procedure 2008-13 - Corrected 2008 auto and truck maximum fair market values for the cents-per-mile valuation of employer provided vehicles.
     
  • IR-2008-33 - IRS Automates Installment Agreement User Fees.
     
  • 2008 IRS Tax Forums - Mark your calendar for the 2008 IRS Tax Forums.
     
  • Florida Chapter - The spring edition of the newsletter is now available.


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