News Releases for May 2006


Notice: Historical Content

This is an archival or historical document and may not reflect current law, policies or procedures.

IRS Expands Taxpayers’ Options for Direct Deposit of Refunds

IR-2006-85, May 31, 2006 — Taxpayers will be able to have refunds direct-deposited in up to three financial accounts.

IRS e-file Moves Forward; Successfully Executes Electronic Filing of Nation’s Largest Tax Return

IR-2006-84, May 31, 2006 — On paper, General Electric's e-filed return would have been approximately 24,000 pages long.

IRS Eases Reporting Burden on Corporations and Shareholders

IR-2006-83, May 26, 2006 — The Internal Revenue Service today announced new regulatory revisions that will reduce the reporting burden on corporations and shareholders while also making it easier for them to file their tax returns electronically.

Government to Stop Collecting Long-Distance Telephone Tax

IR-2006-82, May 25, 2006 — The Internal Revenue Service today announced that it will stop collecting the federal excise tax on long-distance telephone service.

Tax Exempt and Government Entities Advisory Committee to Hold Public Meeting

IR-2006-81, May 23, 2006 — The committee will present recommendations on four projects during the June 7th meeting in Washington, DC.

IRS Takes New Steps on Credit Counseling Groups Following Widespread Abuse

IR-2006-80, May 15, 2006 — The IRS is auditing, sending compliance inquiries and issuing expanded guidance in an attempt to ensure that tax-exempt credit counseling agencies comply with the law.

IRS Seeks Nominations for Internal Revenue Service Advisory Council

IR-2006-79, May 15, 2006 –– Applications for membership on the Internal Revenue Service Advisory Council will be accepted from June 1 through July 31, 2006.

IRS Offers Continuing Education Credits for Certified Financial Planners at Nationwide Tax Forums

IR-2006-78, May 11, 2006 — Certified financial planners can earn continuing education credits by attending seminars offered at the IRS's Nationwide Tax Forums.

IRS Accepting Applications for Low Income Taxpayer Clinic Matching Grants

IR-2006-77, May 8, 2006 — Under the program, IRS awards matching grants of up to $100,000 per year to develop, expand or continue low income taxpayer clinics.

Lewis J. Fernandez Named Associate Chief Counsel, Income Tax and Accounting

IR-2006-76, May 5, 2006 — The IRS has a new Associate Chief Counsel who directs the area that provides legal advice on and support services for tax accounting and issues relating to corporate and individual income taxation.

IRS Updates Voluntary Correction Program for Retirement Plan Professionals

IR-2006-75, May 5, 2006 — The IRS today issued an updated and expanded revision of a revenue procedure governing its voluntary correction program for employee retirement plans.

IRS Targets Down-Payment-Assistance Scams; Seller-Funded Programs Do Not Qualify As Tax Exempt

IR-2006-74, May 4, 2006 — Organizations that provide seller-funded down-payment assistance to home buyers do not qualify as tax-exempt charities, the IRS said today.

IRS Reminds Large Tax-Exempt Organizations of May 15 e-file Deadline

IR-2006-73, May 2, 2006 — Exempt organizations with $100 million or more in assets and at least 250 returns per year must e-file.

IRS Seeks Nominations for Information Reporting Program Advisory Committee 2006

IR-2006-72, May 1, 2006 — The IRS is accepting applications for IRPAC membership through July 14, 2006.

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