New Releases for February 2012

Notice: Historical Content

This is an archival or historical document and may not reflect current law, policies or procedures.

Interest Rates Remain the Same for the Second Quarter of 2012

IR-2012-28, Feb. 23, 2012 — Interest rates remained unchanged for the quarter beginning April 1, 2012.

Payroll Tax Cut Extended to the End of 2012; Revised Payroll Tax Form Now Available to Employers

IR-2012-27, Feb. 23, 2012 — The IRS released revised Form 941 enabling employers to properly report the newly-extended payroll tax cut benefiting nearly 160 million workers.

IRS Has $1 Billion for People Who Have Not Filed a 2008 Income Tax Return

IR-2012-26, Feb. 23, 2012 — Refunds totaling more than $1 billion may be waiting for one million people who did not file a 2008 tax return.

Low Income Taxpayer Clinic Grant Recipients Announced Feb. 2012

IR-2012-25, Feb. 17, 2012 — The Internal Revenue Service has awarded over $9 million in matching grants to Low Income Taxpayer Clinics for the 2012 grant cycle.

IRS Extends Deadline for Estates to File Estate Tax Return to Make Portability Election Benefiting Surviving Spouses

IR-2012-24, Feb. 18, 2012 — The IRS has issued guidance that allows certain estates of married individuals who died during the first six months of 2011 an extension of the deadline to make the portability election.

IRS Releases the Dirty Dozen Tax Scams for 2012

IR-2012-23, Feb. 16, 2012 –– The Internal Revenue Service today issued its annual “Dirty Dozen” ranking of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud.

Updated Rules Issued for IRS Communications with Appeals Office

IR-2012-22, Feb. 15, 2012 — The Internal Revenue Service updated rules on permissible communications between the Office of Appeals and other parts of the IRS.

IRS Issues Rules for Providing K-1s Electronically

IR-2012-21, Feb. 13, 2012 — Partnerships may now provide K-1s to partners electronically.

IRS and Treasury to Hold Town Hall and Consultation Listening Meetings on Possible Approaches to Governmental Plan Guidance

IR-2012-20, Feb. 13, 2012 — Town hall and consultation listening meetings will be held across the country to discuss proposed guidance on possible standards for determining if a retirement plan is a governmental plan under section 414(d) of the Internal Revenue Code.

IRS Extends Comment Period for Guidance on Indian Tribal Government Programs

IR-2012-19, Feb. 13, 2012 — Commenters now have until March 14 to submit to the IRS their written comments regarding the application of the general welfare exclusion to Indian tribal government programs.

IRS Reminds Preparers and Providers of New Continuing Education Requirements

IR-2012-18, Feb. 10, 2012 — Completion of the education requirement, which must be taken from IRS-approved providers, is a condition for the annual renewal of the PTIN, which is required to prepare federal tax returns.

IRS Releases Guidance on How to Claim Expanded Veterans Tax Credit; Certification Requirements Streamlined

IR-2012-17, Feb. 9, 2012 — New forms and guidance available on claiming the Work Opportunity Tax Credit, expanded for hiring veterans.

IRS Unveils New Version of Smartphone App; IRS2Go 2.0 Offers Videos, Tax Help

IR-2012-16, Feb. 8, 2012 — IRS2Go 2.0, an expanded version of the IRS smartphone app, provides taxpayers easier access to practical tools and information.

Treasury, IRS Issue Proposed Regulations for FATCA Implementation

IR-2012-15, Feb. 8, 2012 — The Treasury Department and the IRS issued proposed regulations for the next major phase of implementing FATCA.

New IRS Online Tool Helps Low- and Moderate-Income Taxpayers Find Locations for Help

IR-2012-14, Feb. 6, 2012 — A new online tool to help people easily find a location for volunteer tax preparation assistance is announced .

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