IRS Launches Four New “Life Cycles” on IRS.gov to Help Tax Exempt Organizations Comply with the Law IR-2007-124, June 28, 2007 — The Web-based tools will help guide tax-exempt organizations through the federal tax rules and requirements that pertain to them. IRS Expands Project to Ensure Eligible Public School Employees Are Allowed to Participate in Retirement Annuities IR-2007-123, June 21, 2007 — The IRS is expanding an outreach effort to ensure that public schools throughout the United States are complying with the universal availability requirement for retirement annuities. No Change in the Interest Rates for the Third Quarter of 2007 IR-2007-122, June 20, 2007 — The interest rates are computed from the federal short-term rate based on daily compounding determined during April 2007. IRS Advises Employers, Payers, Agents to Use New Appointment Form 2678 IR-2007-121, June 20, 2007 — The redesigned Form 2678 is clearer and more user-friendly; all prior versions are now obsolete. IRS Chief Counsel Announces New Executive Appointments IR-2007-120, June 19, 2007 –– One retirement, one replacement and one new assignment bring changes to some of the top positions within the Office of the Chief Counsel. IRS Issues Spring 2007 Statistics of Income Bulletin IR-2007-119, June 18, 2007 — The IRS today announced the release of the spring 2007 issue of the Statistics of Income Bulletin. IRS Reminds Tax Professionals to Register Early for Tax Forum IR-2007-118, June 15, 2007 — Tax Forum attendees can earn up to 18 continuing professional education credits and attend an expo featuring representatives from the IRS, tax, financial and business communities offering their products, services and expertise. IRS Releases Discussion Draft of Redesigned Form 990 for Tax-Exempt Organizations IR-2007-117, June 14, 2007 — The IRS is soliciting comments on the redesigned Form 990, Return of Organizations Exempt from Income Tax, and its schedules and instructions through Sept. 14, 2007. Deadline Extended until July 2 for Reporting on Foreign Bank and Financial Accounts IR-2007-116, June 13, 2007 — A U.S. person with a foreign financial account worth more than $10,000 must file FBAR. Transitional Penalty Relief Provided to Tax Return Preparers IR-2007-115, June 11, 2006 — The IRS and Treasury Department today released Notice 2007-54, providing guidance and transitional relief for the return preparer penalty provisions amended by the Small Business and Work Opportunity Act of 2007. Government Moves to Curb Telephone Tax Refund Fraud; Tax Preparers Indicted in Four States, One Enters Guilty Plea IR-2007-114, June 8, 2007 — Refund fraud schemes in California, Florida, Georgia and Texas have resulted in federal indictments of the perpetrators; one has since pled guilty. IRS Updates National Research Program for Individuals IR-2007-113, June. 6, 2007 — IRS officials today announced plans to launch a new National Research Program (NRP) reporting compliance study for individual taxpayers to support efforts to reduce the nation’s tax gap. Application Available for Reduced Installment Agreement User Fee IR-2007-112, June 5, 2007 — Form 13844 may be used by qualified taxpayers to request a lower user fee when applying for an installment agreement for payment of taxes owed. IRS Chief Counsel Selects Gregg D. Polsky as 2007 2008 Professor in Residence IR-2007-111, June 5, 2007 –– IRS Chief Counsel Donald L. Korb has selected Gregg D. Polsky as the 2007-2008 Professor in Residence. IRS Encourages Taxpayers to Safeguard Tax, Financial Records In Preparation for Hurricane Season IR-2007-110, June 1, 2007 — Paperless recordkeeping, documenting valuables and other tips on how to be ready. News Release and Fact Sheet Archive Find an archive of news releases and fact sheets from November 2002 and news releases and a listing of fact sheets from 1997.