News Releases for August 2006

Notice: Historical Content
This is an archival or historical document and may not reflect current law, policies or procedures.

IRS Announces Standard Amounts for Telephone Tax Refunds

IR-2006-137, August 31, 2006 — The IRS today announced the standard amounts that most long-distance customers can use to figure their telephone tax refund.

Delay in Effective Date for Regulations Under Section 403(b)

IR-2006-136, August 29, 2006 — The IRS has postponed the general effective date for the 403(b) plan regulations.

IRS Announces Additional Postponement of Filing and Payment Deadline for Businesses in the Gulf Coast

IR-2006-135, August 25, 2006 — Businesses in the Gulf Coast receive additional postponement to Oct. 16 of the deadline of time to file and pay.

New Split Refund Form Available for Public Comment

IR-2006-134, August 25, 2006 — A new form for taxpayers who opt to split their refunds among accounts, Form 8888, is now available for public comment.

New IRS Publication Summarizes Tax Benefits to Hurricane Victims

IR-2006-133, August 24, 2006 — IRS issues new publication summarizing tax relief and tax benefits for those affected by last year's hurricanes.

Simple Steps Can Prevent Tax Scams as Private Debt Collection Begins

IR-2006-132, Aug. 23, 2006 -- As the IRS begins its private debt collection initiative, the tax agency reminds taxpayers there are several simple steps that can provide protection against scam artists.

IRS Outlines Taxpayer Protections in Private Debt Collection Program

IR-2006-131, Aug. 23, 2006 - IRS released legal guidance today outlining the protections in place for the new private debt collection program.

Proposed Regulations Issued for Capitalization of Tangible Assets 2006

IR-2006–130, August 18, 2006 — New proposed regulations clarify the treatment of expenditures relating to the selling, acquiring, producing or improving of tangible assets.

New Law Expands IRA Options for Military; Many Can Still Contribute for 2004 and 2005

IR-2006-129, Aug. 18, 2006 — The new HERO act allows members of the military to contribute to individual retirement accounts even if they receive tax-free combat pay.

IRS Begins Outreach to Entertainment Industry on Gift Bags Following Academy Agreement

IR-2006-128, August 17, 2006 — An agreement between the The IRS and the Academy of Motion Picture Arts and Sciences resolves outstanding tax obligations relating to Academy Awards celebrity gifts and promotional items (which the law deems taxable income for the recipient).

New Directors Named for LMSB August 2006

IR-2006–127, August 16, 2006 — The IRS's Large and Mid-Size Business division has appointed four new directors of its industry-specialization units and a new director of its technical guidance unit.

Purchasers of Honda Hybrids Still Qualify for Tax Credit 1

IR-2006–126, August 14, 2006 — Purchasers of qualified Hondas hybrids, including the 2006 Insight, 2006 Civic Hybrid, 2006 Accord Hybrid and 2006 Accord Hybrid Navi, may continue to claim the Alternative Motor Vehicle Credit.

Purchasers of Ford and Mercury Hybrids Still Qualify for Tax Credit

IR-2006–125, August 14, 2006 — Purchasers of the 2006 and 2007 Ford Escape 2 WD and 4WD hybrid vehicles and the 2006 and 2007 Mercury Mariner 4 WD hybrid vehicles may continue to claim the Alternative Motor Vehicle Credit.

Temporary Address for Certain Hand Delivered Documents

IR-2006-124, August 10, 2006 — There is a new temporary address for the delivery of taxpayer requests for rulings, requests for determination letters, Applications for Change in Accounting Method (Form 3115), and similar requests that are permitted to be hand-delivered to the main IRS building. (Supersedes IR-2006-103)

Temporary Procedure for Certain Expedited Ruling Requests

IR-2006-123, August 9, 2006 — The Internal Revenue Service is updating its temporary procedure for processing requests for certain expedited letter rulings for reorganizations and section 355 distributions. (Supersedes IR-2006-105)

Purchasers of GM Hybrids Still Qualify for Tax Credit

IR-2006-122, August 9, 2006— The Internal Revenue Service announced that purchasers of General Motors Corp. qualified vehicles may continue to claim the Alternative Motor Vehicle Credit.

IRS, Canada Revenue Agency Unravel Cross Border Tax Scheme

IR-2006-121, August 3, 2006 — Officials of the Canada Revenue Agency and the IRS today announced significant progress in unraveling an abusive cross-border tax scheme.

Everson Chairs International Tax Forum, Emphasizes Enforcement

IR-2006-120, Aug. 1, 2006 — IRS Commissioner Mark W. Everson has been elected chairman of the Forum on Tax Administration, a panel of national tax administrators that is part of the Paris-based Organisation for Economic Co-operation and Development.

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