Seminars, Workshops, Conferences, and Other Practitioner Activities By State:
Inside This Issue
The Internal Revenue Service today announced tax relief for individuals and businesses affected by the terrorist attacks in the State of Israel. These taxpayers now have until Oct. 7, 2024, to file various federal returns, make tax payments and perform other time-sensitive tax-related actions. See more in Notice 2023-71.
The IRS released new tax gap projections for tax years 2020 and 2021 showing the projected gross tax gap increased to $688 billion in tax year 2021, a significant jump from previous estimates. “This increase in the tax gap underscores the importance of increased IRS compliance efforts on key areas,” said IRS Commissioner Danny Werfel. “With the help of Inflation Reduction Act funding, we are adding focus and resources to areas of compliance concern, including high-income and high-wealth individuals, partnerships and corporations.”
The executive column “A Closer Look” covers a variety of timely issues of interest to taxpayers and the tax community. It also provides a detailed look at key issues affecting everything from IRS operations and employees to issues involving taxpayers, tax and payroll professionals. Take a closer look.
Jessica Avras of Nevada pleaded guilty to assisting in the preparation of false income tax returns. Avras, who admitted that her conduct caused a tax loss to the IRS of approximately $525,000, faces a maximum penalty of three years in prison, a period of supervised release and monetary penalties.
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. These procedures will apply to transfers of credits after Dec. 31, 2023.
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.
|This email was sent to firstname.lastname@example.org by: Internal Revenue Service (IRS) · Internal Revenue Service · 1111 Constitution Ave. N.W. · Washington DC 20535|