High-income compliance efforts; new ETAAC members; storm victims tax deadline; Form 6765 feedback; and more

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e-News for Tax ProfessionalsSeptember 22, 2023

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Issue Number: 2023-38

Inside This Issue

  1. IRS to establish special pass-through unit to help with high-income compliance efforts
  2. IRS selects new members for Electronic Tax Administration Advisory Committee
  3. Reminder to storm victims in California, Alabama and Georgia: File and pay by Oct. 16
  4. Feedback requested on proposed changes to Form 6765, Credit for Increasing Research Activities
  5. Webinars for tax practitioners
  6. Technical Guidance

1.  IRS to establish special pass-through unit to help with high-income compliance efforts

As work continues to focus more attention on high-income compliance issues, the IRS plans to establish a special area to focus on large or complex pass-through entities. The new work unit will be housed in the IRS Large Business and International (LB&I) division and will include the people joining the IRS under the new IRS hiring initiative recently announced. “This is another part of our effort to ensure the IRS holds the nation’s wealthiest filers accountable to pay the full amount of what they owe,” said IRS Commissioner Danny Werfel. “We are honing-in on areas where we believe non-compliance among our wealthiest filers has proliferated over the last decade of IRS budget cuts, and pass-throughs are high on our list of concerns. This new unit will leverage Inflation Reduction Act funding to disrupt efforts by certain large partnerships to use pass-throughs to intentionally shield income to avoid paying the taxes they owe.”

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2.  IRS selects new members for Electronic Tax Administration Advisory Committee

The IRS has selected eight new members for the Electronic Tax Administration Advisory Committee (ETAAC). Established by law in 1998, the ETAAC is a public forum for the discussion of issues in electronic tax administration. ETAAC members also work closely with the Security Summit, a joint effort of the IRS, state tax administrators and the nation’s tax industry to fight identity theft and refund fraud. Committee members include statie tax officials, cybersecurity and information security specialists, tax preparers, tax software developers and representatives of the payroll and financial communities as well as consumer groups.

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3.  Reminder to storm victims in California, Alabama and Georgia: File and pay by Oct. 16

Tax pros: If you have individual or business clients in most California areas, as well as parts of Alabama and Georgia, remind them that their 2022 federal income tax returns and tax payments are due on Oct. 16, 2023. The normal due date of April 18 was postponed for many residents of these states in the wake of natural disasters earlier this year. This news release is also available in Spanish and Simplified Chinese.

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4.  Feedback requested on proposed changes to Form 6765, Credit for Increasing Research Activities

The IRS recently released a preview of proposed changes to certain sections of Form 6765, Credit for Increasing Research Activities, also known as the Research Credit. All feedback on the proposed form changes, potential Section F options and questions about these changes should be submitted by Oct. 31. These potential changes will help the IRS accomplish some objectives of the IRS Inflation Reduction Act Strategic Operating Plan.

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5.  Webinars for tax practitioners

Tax pros: Here are some upcoming webinars for the tax practitioner community. For more information or to register, visit the Webinars for Tax Practitioners page on IRS.gov.

  • Preparation of Form 1040-NR, U.S. Nonresident Alien Income Tax Returns, on Sept. 26 at 2 p.m. ET. Earn up to 2 continuing education credits.
  • Mortgage & Other Interest Expense Allocation & Apportionment for Individuals with Partnership Interests Form 1116 and Schedule K-3, on Sept. 28 at 2 p.m. ET. Earn up to 1 continuing education credit.
  • Beneficial Ownership Information, on Oct. 4 at 2 p.m. ET. No continuing education is offered for this webinar.

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6.  Technical Guidance

Revenue Ruling 2023-18 provides various prescribed rates for federal income tax purposes including the applicable federal interest rates, the adjusted applicable federal interest rates, the adjusted federal long-term rate and the adjusted federal long-term tax-exempt rate. These rates are determined as prescribed by section 1274.

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