IR-2007-152, Aug. 30, 2007 — The Internal Revenue Service today announced a new Voluntary Closing Agreement Program (VCAP) to address violations of federal tax law on arbitrage investment restrictions. The violations are related to non-fair market value purchases of forward-float investment agreements used in advance refundings of tax-exempt municipal bonds.
IR-2007-146, August 23, 2007 — As the Sept. 17 deadline approaches for calendar year filers of corporate returns who filed for extensions, the IRS urges certain corporate filers to be aware of their obligation to file electronically.
IR-2007-145, Aug. 22, 2007 — The Office of Chief Counsel for the IRS announced the assignment of Stephen Larson, former Acting General Counsel of the Treasury Department, to the position of Acting Associate Chief Counsel, Financial Institutions and Products.
IR-2007-143, Aug. 14, 2007 — The Treasury Department and the IRS issued two notices that identify as transactions of interest certain transactions involving “toggling” grantor trusts and certain transactions involving contributions of a successor member interest in a limited liability company.
IR-2007-139, Aug. 6, 2007 — After reviewing the second quarter 2007 sales of Toyota Motor Sales USA Inc., the Internal Revenue Service announced that purchasers of qualifying Toyota and Lexus vehicles may continue to claim the Alternative Motor Vehicle Credit.
IR-2007-137, Aug. 2, 2007 — The Treasury Department and the IRS released an IRS report addressing the agency’s implementation of the 2006 strategy to improve voluntary compliance with federal tax laws and narrow the tax gap.