Issue Number: 2010-29
Inside This Issue
- IRS Opens Dedicated Phone Line for Gulf Oil Spill Victims
- CPA Disbarred for Failure to Exercise Due Diligence and Compliance Problems
- IRS Highlights Job Opportunities for New Grads on YouTube
- National Taxpayer Advocate Submits Mid-Year Report to Congress
- Technical Guidance
1. IRS Opens Dedicated Phone Line for Gulf Oil Spill Victims
The Internal Revenue Service announced the opening of a special telephone line for taxpayers affected by the Gulf oil spill.
Individuals who have questions about the BP payments or who are experiencing filing or payment hardships because of the oil spill should contact the IRS at 866-562-5227. The special services phone line will operate weekdays from 7 a.m. to 10 p.m. local time.
Back to top
2. CPA Disbarred for Failure to Exercise Due Diligence and Compliance Problems
The Office of Professional Responsibility (OPR) has prevailed in an agency appeal involving issues which include the due diligence responsibilities of a CPA under the Rules of Practice before the IRS (Circular 230). The May 28th decision of the Appellate Authority has upheld the Administrative Law Judge’s (“ALJ”) disbarment of CPA Tim W. Kaskey found, among other things, that Kaskey failed to exercise due diligence in preparing tax returns for a corporation and its husband and wife shareholders.
Back to top
3. IRS Highlights Job Opportunities for New Grads on YouTube
The Internal Revenue Service has announced the availability of a new job search tool on YouTube dedicated to helping job seekers learn about employment opportunities at the IRS.
Back to top
4. National Taxpayer Advocate Submits Mid-Year Report to Congress
The National Taxpayer Advocate has released a report to Congress that identifies the priority issues the Taxpayer Advocate Service (TAS) will address during the coming fiscal year.
Back to top
5. Technical Guidance
Notice 2010-52 provides guidance as to the corporate bond weighted average interest rate and the permissible range of interest rates specified under § 412(b)(5)(B)(ii)(II) of the Internal Revenue Code. It also provides guidance on the corporate bond monthly yield curve (and the corresponding spot segment rates), the 24-month average segment rates, and the funding transitional segment rates under § 430(h)(2). In addition, this notice provides guidance as to the interest rate on 30-year Treasury securities under § 417(e)(3)(A)(ii)(II) as in effect for plan years beginning before 2008, and the minimum present value segment rates under § 417(e)(3)(D) as in effect for plan years beginning after 2007.
Back to top
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.
| 
