News Releases for February 2008

Notice: Historical Content

This is an archival or historical document and may not reflect current law, policies or procedures.

IRS Changes Muni Bond VCAP Program, Seeks Comments

IR-2008-29, Feb. 28, 2008 — The Internal Revenue Service today announced updated procedures related to the Tax Exempt Bond Voluntary Closing Agreement Program (TEB VCAP). The IRS is also soliciting comments from the public on ways the program could be refined and expanded.

Special Economic Stimulus Letters Reach Mailboxes in March

IR-2008-28, Feb. 28, 2008 — More than 130 million American households will begin receiving Internal Revenue Service letters next week reminding them to file a 2007 tax return in order to receive a 2008 economic stimulus payment.

IRS Issues Winter 2008 Statistics of Income Bulletin

IR-2008-27, Feb. 28, 2008 — The Internal Revenue Service today released the winter 2008 issue of the Statistics of Income Bulletin, featuring data from 134.4 million individual income tax returns filed for tax year 2005.

IRS and Tax Treaty Partners Target Liechtenstein Accounts

IR-2008-26, Feb. 26, 2008 — The IRS is looking at taxpayer accounts in Liechtenstein to make sure that income has been properly reported and related taxes paid.

E-Postcard Filing Now Available on for Small Tax-Exempt Organizations

IR-2008-25, Feb. 25, 2008 — The IRS announced the launch of a simple electronic filing system that small tax-exempt organizations may use to comply with a new law requiring them to file an annual return.

Form 4136 Revised; Some Farmers, Fishermen Have Until March 10 to e-file, IRS Says

IR-2008 –24, Feb 22, 2008 — Agricultural industry taxpayers, farmers and fishermen, who electronically file Form 1040 returns with Form 4136, Credit for Federal Tax Paid on Fuels, must wait until March 3 to e-file the newly-revised Form 4136.

Credit for Honda Hybrids Begins to Phase-Out

IR- 2008 –23, Feb 22, 2008 — After reviewing the fourth quarter 2007 sales of American Honda Motor Company, Inc., the Internal Revenue Service announced that purchasers of qualifying Honda vehicles may continue to claim the Alternative Motor Vehicle Credit. Given the number of vehicles sold, the phase out period for Honda vehicles began on Jan. 1, 2008.

2008 Economic Stimulus Act Provides Tax Benefits to Businesses

IR-2008-22, Feb. 21, 2008 — The Economic Stimulus Act of 2008 provides tax benefits for certain acquisitions of property by businesses in 2008.

More Information on Stimulus Payments Posted to; New Details for Recipients of Social Security, Veterans Benefits

IR-2008-21, Feb. 15, 2008 — The Internal Revenue Service released additional information today about the upcoming economic stimulus payments in a specially designed section for taxpayers on

IRS Seeks Candidates for Electronic Tax Administration Advisory Committee

IR-2008-20, Feb. 15, 2008 — Want to advise the IRS on e-filing issues? Consider applying for the Electronic Tax Administration Advisory Committee.

IRS Successfully Processing Tax Forms Affected by AMT Legislation

IR-2008-19, Feb. 14, 2008 — Taxpayers can now file five affected forms.

IRS Will Send Stimulus Payments Automatically Starting in May; Eligible Taxpayers Must File a 2007 Tax Return to Receive Rebate

IR-2008-18, Feb. 13, 2008 — In most cases, taxpayers will not have to do anything extra to get the payments.

Mortgage Workouts, Now Tax Free for Many Homeowners; Claim Relief on Newly Revised IRS Form

IR-2008-17, Feb. 12, 2008 — Homeowners whose mortgage debt was partly or entirely forgiven during 2007 may be able to claim special tax relief by filling out newly-revised Form 982 and attaching it to their 2007 federal income tax return, according to the IRS.

IRS Announces Energy Bond Allocations

IR-2008-16, Feb. 8, 2008 — The IRS today announced 312 projects eligible to be financed with tax-credit bonds under the Clean Renewable Energy Bonds (CREB) program.

Tax Returns from Seven States Go to Different Centers

IR-2008-15, Feb.7, 2008 — Taxpayers in Iowa, Kansas, Kentucky, Oklahoma, Pennsylvania, West Virginia and Wisconsin will send their tax returns to different centers this year.

IRS Offers New Online Help Tools for 2008 Tax Filers

IR-2008-14, Feb. 6, 2008 — Browse the new Publication 17 or visit "Where's My Refund?" in Spanish.

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