News Releases for October 2007
Honda Compressed Natural Gas Vehicle is Certified for the Qualified Alternative Fuel Motor Vehicle Tax Credit
IR-2007-181, Oct. 31, 2007 — The Internal Revenue Service has acknowledged the certification by American Honda Motor Company, Inc., that its Honda Civic GX Model Year 2008 vehicle meets the requirements of the Qualified Alternative Fuel Motor Vehicle Credit.
IRS Seeks Applications for TE/GE Advisory Committee
IR-2007-180, Oct. 31, 2007 – The IRS is seeking applications for vacancies on the Advisory Committee on Tax Exempt and Government Entities (ACT). The committee provides a venue for public input into critical tax administration areas.
IRS Tax Talk Today Focuses on Worker Classification
IR-2007-179, Oct. 31, 2007 — The IRS’s November 6, 2007 Tax Talk Today Webcast, “What’s Hot in Employment Taxes: Independent Contractor or Employee?”, will focus exclusively on worker classification issues. The program starts at 2 p.m. ET.
IRS Grants Tax Relief for Southern California Wildfire Victims
IR-2007-178, Oct. 29, 2007 — Affected taxpayers have until Jan. 31, 2008, to file returns, pay taxes and perform other time-sensitive acts.
IRS and GWU Host 20th Annual International Tax Conference
IR-2007-177, Oct. 26, 2007 — The Internal Revenue Service and George Washington University host the 20th Institute on Current Issues in International Taxation.
IRS to Hold Workshops for Small and Mid-Sized 501(c)(3) Exempt Organizations
IR-2007-176, Oct. 26, 2007 — The one-day workshops are for administrators, volunteers or tax practitioners who are responsible for an organization's tax compliance.
Purchasers of GM Hybrids Still Qualify for Tax Credit
IR-2007-175, Oct. 25, 2007 — The IRS announced that purchasers of qualified General Motors Corp. hybrid vehicles may continue to claim the Alternative Motor Vehicle Credit.
Purchasers of Ford Hybrids Still Qualify for Tax Credit
IR-2007-174, Oct., 25, 2007 — The Internal Revenue Service announced that purchasers of qualified Ford Motor Company vehicles may continue to claim the Alternative Motor Vehicle Credit.
Poker Tournament Winnings Must be Reported to the IRS
IR-2007-173, Oct. 19, 2007 — Starting next year, casinos and other sponsors of poker tournaments will be required to report most winnings to winners and the IRS, according to the IRS.
2008 Inflation Adjustments Widen Tax Brackets,
IR-2007-172, Oct. 18, 2007 — For 2008, personal exemptions and standard deductions will rise, tax brackets will widen and workers will be able to save more for retirement, thanks to inflation adjustments announced today by the IRS.
IRS Announces Pension Plan Limitations for 2008
IR-2007-171, Oct. 18, 2007 — The IRS today announced cost of living adjustments applicable to dollar limitations for pension plans and other items for Tax Year 2008.
IRS Warns Taxpayers About Certain Trust Arrangements Sold As Welfare Benefit Funds
IR-2007-170, Oct. 17, 2007 – The IRS and the Treasury Department cautioned taxpayers about participating in certain trust arrangements being sold to professional corporations and other small businesses as welfare benefit funds and identified some of the arrangements as listed transactions.
Tax Talk Today Features Office of Professional Responsibility
IR-2007-169, Oct. 12, 2007 — The Internal Revenue Service announced today that the October Tax Talk Today program will be “The ABCs of OPR.” The live hour-long Webcast will focus on the IRS’s Office of Professional Responsibility (OPR).
Honda Vehicle Certified As Qualified Hybrid Vehicle
IR-2007-168, Oct. 12, 2007 — The Internal Revenue Service has acknowledged the certification by American Honda Motor Company, Inc. that its Model Year 2008 Honda Civic Hybrid CVT meets the requirements of the Alternative Motor Vehicle Credit as a qualified hybrid motor vehicle.
Treasury, IRS Issue Pension Protection Act Guidance
IR-2007-167, Oct. 9, 2007 — The Treasury and the IRS today issued a notice on the methodology used to produce the corporate bond yield curve and segmented rates as part of rules for companies enacted by the Pension Protection Act of 2006 (PPA).
IRS Offers Relief for Late S Corporation Elections
IR-2007-166, Oct. 9, 2007 — The IRS has announced a simplified method for businesses to elect S corporation tax treatment.
Tax-filing Extension Expires Oct. 15; Don’t Overlook Tax Breaks, Choose e-file or Free File, IRS Urges
IR-2007-165, Oct. 5, 2007 — Taxpayers should remember the Telephone Excise Tax Refund, Earned Income Tax Credit and other credits available.
Jump In E-filed Corporate Tax Returns Produces Record
IR-2007-164, Oct. 4, 2007 - The IRS announced today that more than 800,000 of the nation’s small businesses and large corporations have electronically filed their tax returns so far this year, a 60 percent increase from last year.
IRS Issues Redesigned Allowable Living Expense Standards
IR-2007-163, Oct. 1, 2007 — For purposes of federal tax administration the standards are effective Oct. 1, 2007.
News Release and Fact Sheet Archive
News releases and fact sheets from November 2002 forward and an archive of news releases and fact sheets in PDF format back to 1997.