News Releases for November 2006

Notice: Historical Content

This is an archival or historical document and may not reflect current law, policies or procedures.

Treasury And IRS Issue Notice On Reporting And Withholding For Amounts Includible In Gross Income Under Code Section 409A

IR-2006-185, Nov. 30, 2006 — Treasury and the IRS issued a notice providing guidance to employers and payers on certain reporting and wage withholding requirements for calendar years 2005 and 2006.

$1 Billion in Tax Credits Allocated to Clean Coal Projects

IR-2006-184, Nov. 30, 2006 — The Internal Revenue Service announced that it has allocated nearly $1 billion of tax credits to nine planned clean coal projects.

Fiscal Year 2006 Enforcement and Service Results

Nov. 20, 2006 — Statement of IRS Commissioner Mark W. Everson.

Additional Honda Vehicles Certified for Hybrid Tax Credits

IR-2006-183, Nov. 22, 2006 — The IRS has acknowledged the certification by American Honda Motor Company, Inc., that several of its Model Year 2007 vehicles meet the requirements of the Alternative Motor Vehicle Credit.

Honda Compressed Natural Gas Vehicle Certified for Tax Credit

IR-2006-182, Nov. 22, 2006 — The Internal Revenue Service has acknowledged the certification by American Honda Motor Company, Inc., that its Honda Civic GX Model Year 2007 vehicle meets the requirements of the Alternative Motor Vehicle Credit.

Clean Renewable Energy Bond Volume Cap Allocation Information

IR-2006-181, Nov. 20, 2006 — This information release provides information regarding the results of the volume cap allocation process for the new Clean Energy Renewable Bonds (“CREBs”) program .

IRS Makes Settlement Offer to Certain Foreign Embassy Staff

IR-2006-180, Nov. 17, 2006 — The Internal Revenue Service today encouraged U.S.-based employees and former employees of foreign embassies, foreign consular offices and international organizations to participate in a one-time settlement initiative to resolve tax matters related to their employment.

Businesses and Tax Exempts Can Use Formula for Telephone Tax Refund

IR-2006-179, Nov. 16, 2006 — The IRS has devised a formula that allows organizations to estimate their refunds rather than track down details of their old phone records

IRS Has Refund for 95,746 Taxpayers Whose Checks Could Not Be Delivered

IR-2006-178, Nov. 16, 2006 — The average refund check amount is $963.

Honda Hybrids Still Qualify for Tax Credit

IR-2006-177, Nov. 15, 2006 — Current tax credit amounts for Honda Accord, Civic and Insight hybrids are available from IRS.

Installment Agreement User Fees to Increase

IR-2006-176, Nov. 13, 2006 — Because of an increase in the IRS' processing costs, the IRS will charge taxpayers more for establishing plans for paying their outstanding federal tax debts.

IRS Provides Guidance on Per Diem Expense Reimbursements Paid By Employers

IR-2006-175, Nov. 9, 2006 — Expense allowances may be subject to income and employment tax if not handled properly.

New Top Leadership Team Selected

IR-2006-174, Nov. 9, 2006 — Internal Revenue Service Commissioner Mark W. Everson today announced the appointment of Kevin Brown and Linda Stiff as the agency’s two new deputy commissioners, effective December 1.

2007 Inflation Adjustments Widen Tax Brackets, Expand Tax Benefits

IR-2006-173, Nov. 9, 2006 — The Internal Revenue Service announces the tax items indexed for inflation for tax year 2007.

Credit for Toyota and Lexus Hybrids Begins Phase Out With Reporting of Third Quarter Sales

IR-2006-172, Nov. 9, 2006 — After reviewing the third quarter sales of Toyota, the IRS announced that purchasers Toyota and Lexus vehicles may continue to claim the Alternative Motor Vehicle Credit.

Purchasers of GM Hybrids Still Qualify for Tax Credit 1

IR-2006-171, Nov. 9, 2006 — IRS announces that purchasers of GMC qualified vehicles may continue to claim the Alternative Motor Vehicle Credit.

Patriot's Day 2007 Gives Some Taxpayers Extra Tax Time

IR-2006-170, Nov. 8, 2006 — Depending on which state you live in, you may get an extra day to file your taxes thanks to Patriot's Day 2007.

IRS Selects New Members and a Chairman for ETAAC

IR-2006-169, Nov. 6, 2006 — The Internal Revenue Service today announced the selection of five new members for the Electronic Tax Administration Advisory Committee (ETAAC).

IRS Announces 2007 Standard Mileage Rates

IR-2006-168 — The IRS today issued the 2007 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Treasury, IRS Issue Regulations on Requirements for Disclosing Reportable Transactions and Maintaining Lists

IR-2006-167 — The Treasury Department and IRS today issued updated regulations reflecting changes to the requirements for disclosure of reportable transactions by taxpayers and material advisors.

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