News Releases for May 2006

IR-2006-85, May 31, 2006 — Taxpayers will be able to have refunds direct-deposited in up to three financial accounts.

IR-2006-84, May 31, 2006 — On paper, General Electric's e-filed return would have been approximately 24,000 pages long.

IR-2006-83, May 26, 2006 — The Internal Revenue Service today announced new regulatory revisions that will reduce the reporting burden on corporations and shareholders while also making it easier for them to file their tax returns electronically.

IR-2006-82, May 25, 2006 — The Internal Revenue Service today announced that it will stop collecting the federal excise tax on long-distance telephone service.

IR-2006-81, May 23, 2006 — The committee will present recommendations on four projects during the June 7th meeting in Washington, DC.

IR-2006-80, May 15, 2006 — The IRS is auditing, sending compliance inquiries and issuing expanded guidance in an attempt to ensure that tax-exempt credit counseling agencies comply with the law.

IR-2006-79, May 15, 2006 –– Applications for membership on the Internal Revenue Service Advisory Council will be accepted from June 1 through July 31, 2006.

IR-2006-78, May 11, 2006 — Certified financial planners can earn continuing education credits by attending seminars offered at the IRS's Nationwide Tax Forums.

IR-2006-77, May 8, 2006 — Under the program, IRS awards matching grants of up to $100,000 per year to develop, expand or continue low income taxpayer clinics.

IR-2006-76, May 5, 2006 — The IRS has a new Associate Chief Counsel who directs the area that provides legal advice on and support services for tax accounting and issues relating to corporate and individual income taxation.

IR-2006-75, May 5, 2006 — The IRS today issued an updated and expanded revision of a revenue procedure governing its voluntary correction program for employee retirement plans.

IR-2006-74, May 4, 2006 — Organizations that provide seller-funded down-payment assistance to home buyers do not qualify as tax-exempt charities, the IRS said today.

IR-2006-73, May 2, 2006 — Exempt organizations with $100 million or more in assets and at least 250 returns per year must e-file.

IR-2006-72, May 1, 2006 — The IRS is accepting applications for IRPAC membership through July 14, 2006.

Find previous year news releases and fact sheets from 1997 through last month.