IRS Issues Winter 2004-2005 Statistics of Income Bulletin IR-2005-40 — Bulletin includes an article on preliminary data from individual income tax returns for 2003. E-file, e-Payments Ahead of Last Year IR-2005-39 — IRS e-file, direct deposits, and e-payments are ahead of the totals for this time last year. The Weekly Filing Season Statistics are attached. New IRS Study Provides Preliminary Tax Gap Estimate IR-2005-38 — Findings show the nation’s annual tax gap increased slightly to between $312 billion and $353 billion. IRS Collects $3.2 Billion from Son of Boss; Final Figure Should Top $3.5 Billion IR-2005-37 — Abusive transaction aggressively marketed to wealthy individuals. Settlement required taxpayers to concede 100 percent of claimed tax losses. Free File Tops Last Year's Total IR-2005-36 — More taxpayers have Free Filed so far than for all of 2004. Filing Season Statistics attached. New Web Feature Helps with Lost Refund Checks IR-2005-35 — Popular service now offers a safe and easy way to trace refund checks and update a mailing address. IRS Offers Tips for Accurate Schedule K 1 Filing 1 IR-2005-34 — Annual list of tips to help businesses, individuals and tax professionals avoid errors on Schedules K-1. IRS Expands Access to eServices Products IR-2005-33 — Expansion meets high demand and requests from tax professionals to use online tools. IRS e-file Up 6 Percent IR-2005-32, IRS e-file continues to show strong results, filing season statistics attached. IRS Clarifies AMT Deduction for Home Mortgage Interest IR-2005-31 — Qualified housing interest includes interest paid on a mortgage that has been refinanced more than once. Remarks of IRS Commissioner Mark W. Everson at National Press Club IR-2005-30 — Text of speech delivered at National Press Club on March 15, 2005. IRS Issues Guidance on Truck Sale Excise Tax IR-2005-29 — IRS guidance establishes four classifications of truck body types that are excluded from retail excise tax. IRS to Accept Supplemental Low Income Taxpayer Clinic (LITC) Grant Applications to Serve Taxpayers in Targeted States IR-2005-28 — Increased funding allows the IRS to open a supplemental period for accepting LITC applications. IRS Rebuts Those Making Frivolous Arguments on Paying Taxes IR-2005-27 — The IRS issued guidance describing and rebutting frivolous arguments taxpayers should avoid when filing their tax returns. IRS Awards Approximately $7.5 Million to Tax Clinics Aiding Low Income Taxpayers IR-2005-26 — Clinics provide an important resource to taxpayers who may not be able to afford a tax professional. IRS Provides Transition Relief to Partnerships and Pass-Thru Entities Under New Code Section IR-2005-25 — New provision addresses leases of property in sale-in, lease-out transactions involving tax-exempt entities. IRS e-file and Direct Deposit Continue to Outpace 2004’s Results IR-2005-24 — Taxpayers are taking advantage of e-file and direct deposit of tax refunds in record numbers. IRS Seeks New Issues for the Industry Issue Resolution Program 2005 IR-2005-23, March 7, 2005 — The IRS is encouraging business taxpayers, associations and other interested parties to submit tax issues for the Industry Issue Resolution (IIR) Program. Interest Rates Rise for the Second Quarter of 2005 IR-2005-22 — Interest rates for underpayments and overpayements rise by one percentage point. E-filing Running at Record Pace IR-2005-21 — As of Feb. 25, 2005, 74 percent of all individual returns were e-filed up from 69 percent for the same period last year. U.S. and Austria Agree on Tax Treatment of Certain Scholarships IR-2005-20 — Competent Authorities of Austria and the United States reach mutual agreement. 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.