EO Update December 15, 2010
Issue Number: 2010-28
Inside This Issue
- Exempt Organizations Releases FY 2011 Implementing Guidelines
- Leadership Changes in Exempt Organizations
- Priority Guidance Plan for 2010-11 Announced
- Follow the IRS on Twitter
- Tax Preparers: Register for PTINs Now
- Proposed Regulations Would Reduce Enrolled Agent Fees
- Electronic Funds Transfer of Depository Taxes
1. Exempt Organizations Releases FY 2011 Implementing Guidelines
Exempt Organizations today released its FY 2011 Implementing Guidelines. The Guidelines are made up of the FY 2010 Annual Report, which includes updated statistics and a discussion of FY 2010 accomplishments, and the FY 2011 Workplan, which centers on three themes: EO Integrates, EO Supports and Collaborates, and EO Invests.
2. Leadership Changes in Exempt Organizations
Robert (Rob) Choi, Director, EO Rulings & Agreements, and Roberta (Bobby) Zarin, Director, EO Customer Education and Outreach, will be leaving Exempt Organizations to assume new positions within TE/GE. Rob Choi will be the new Director of Employee Plans. Bobby Zarin leaves EO to become the next Director of TE/GE Communications and Liaison.
Holly Paz, currently Manager of EO Technical, will serve as Acting Director, EO Rulings & Agreements beginning in January. Melaney Partner is currently Acting Director, EO, CE&O.
3. Priority Guidance Plan for 2010-11 Announced
Each year the Treasury Department's Office of Tax Policy and IRS identify and prioritize the tax issues that should be addressed through regulations and other published guidance. The Priority Guidance Plan for 2010-2011 includes a number of items of interest to tax-exempt organizations.
4. Follow the IRS on Twitter
The Internal Revenue Service announced that it is using Twitter and other social media tools to share information with taxpayers and the tax professional community.
The IRS Twitter news feed, @IRSnews, provides the latest federal tax news and information for taxpayers. The focus of the IRS Twitter messages will be on easy-to-use information, including tax tips, tax law changes, and important IRS programs such as e-file, the Earned Income Tax Credit and “Where’s My Refund." Anyone with a Twitter account can follow @IRSnews by going to http://twitter.com/IRSnews.
5. Tax Preparers: Register for PTINs Now
As year end approaches, the Internal Revenue Service today strongly encouraged paid tax return preparers to register now for their new or renewed Preparer Tax Identification Numbers (PTINs) to avoid any last-minute rush.
Starting January 1, 2011, use of the PTIN will be mandatory on all federal tax returns and claims for refund prepared by a paid tax preparer. Individuals who, for compensation, prepare all or substantially all of any federal tax return or claim for refund must use PTINs. Paid preparers must apply for a new or renewed PTIN through the new sign-up system at www.irs.gov/taxpros
Also, read new FAQs on the new requirements for tax preparers on IRS.gov.
6. Proposed Regulations Would Reduce Enrolled Agent Fees
The Internal Revenue Service announced that it has issued proposed regulations that would reduce fees related to application and renewal for enrolled agents and enrolled retirement plan agents. The reduction is related to the preparer tax identification number requirements implemented last month which establish a new registration process and fee for all return preparers.
The proposed regulations (REG-124018-10) would reduce the fee for application and renewal for enrolled agents and enrolled retirement plan agents from $125 to $30.
7. Electronic Funds Transfer of Depository Taxes
The IRS has issued temporary and final regulations that provide, effective January 1, 2011, that all federal tax deposits (FTDs) must be made by electronic funds transfer (EFT). Learn about electronic payment options on IRS.gov. After December 31, 2010, paper coupons may no longer be used to submit federal depository taxes, such as employment taxes.