February 2013

February 28, 2013

Acting Commissioner Outlines IRS Plans for Sequestration

Acting IRS Commissioner Steven Miller sent a memo to all IRS employees outlining the agency’s plans in the event sequestration occurs as planned on Friday.

February 28, 2013

Stockpiled Delayed Returns to Be Accepted on Sunday, Online Filing to Start Next Week

The IRS announced that it will begin accepting from e-file transmitters stockpiled returns containing the 29 forms for which acceptance was delayed beginning on Sunday, March 3, at 7 a.m. ET.

February 25, 2013

IRS Appeals Decision Striking Down Tax Return Preparer Registration Program

The IRS filed an appeal of the decision that struck down the IRS’s registered tax return preparer program and enjoined it from enforcing the regulations.

February 25, 2013

2013 Automobile Depreciation Limits Released

The IRS on Monday issued the 2013 inflation adjustments to the depreciation limitations and lease inclusion amounts for certain automobiles under Sec. 280F.

February 18, 2013

AICPA Raises Concerns About Delayed, Compressed Tax Season

The AICPA sent a letter to the IRS raising concerns about the “very compressed and difficult filing season” AICPA members and their clients are facing, due to the ongoing delays in the IRS’s acceptance of certain tax forms.

February 15, 2013

U.S. and Switzerland Sign FATCA Agreement

The United States and Switzerland have signed a bilateral agreement to implement provisions of FATCA.

February 13, 2013

IRS Issues Annual Whistleblower Report to Congress

The IRS issued its annual report on the whistleblower program, reporting the program’s results for FY 2012.

February 8, 2013

Depreciation and Education Credit Forms Can Soon Be Filed with the IRS

The IRS announced on Friday that it will soon be able to accept tax returns that include Form 4562, Depreciation and Amortization, and/or Form 8863, Education Credits (IR-2013-18).

February 6, 2013

IRS Postpones Effective Date of New Procedures for Consents to Disclose

The IRS Rev. delayed the date that taxpayer consents to disclose and consents to use tax return information must contain the mandatory language recently issued in Rev. Proc. 2013-14.

February 4, 2013

Long-Awaited Final Regs. Issued on Noncompensatory Partnership Options

The IRS issued regulations on the treatment of certain call options, warrants, convertible debt, and convertible equity that are not issued in connection with the performance of services, i.e., noncompensatory partnership options.

February 2, 2013