News Releases for October 2005

Notice: Historical Content

This is an archival or historical document and may not reflect current law, policies or procedures.

2006 Inflation Adjustments Widen Tax Brackets, Change Tax Benefits

IR-2005-130, Oct. 28, 2005 — The IRS has issued the 2006 inflation-adjusted amounts relating to numerous tax provisions.

IRS Launches Abusive Transaction Settlement Initiative

IR-2005-129, Oct. 27, 2005 — Internal Revenue Service officials today announced a broad-based, limited-in-time opportunity for taxpayers to come forward and settle an array of transactions the IRS considers abusive.

Tax Relief Granted for Hurricane Wilma Victims

IR-2005-128, Oct. 27, 2005 — Deadlines for affected taxpayers to file returns, pay taxes and perform some other time-sensitive acts have been postponed to Feb. 28, 2006.

Dyed Diesel Fuel Penalty Waived in Florida Due to Hurricane Wilma

IR-2005-127, Oct. 26, 2005 — The IRS will not impose an excise tax penalty on dyed diesel fuel in Florida because of fuel shortages caused by Hurricane Wilma.

IRS and Free File Alliance Reach Agreement

IR-2005-126, Oct. 25, 2005 — IRS and Free File Alliance announced new, four-year agreement to extend access to free tax software and IRS e-file.

IRS Looking for More Than 84,000 Owners of Undelivered Refunds

IR-2005-125, Oct. 25, 2005 — Checks totaling approximately $73 million can be reissued as soon as taxpayers correct or update their addresses with the IRS.

IRS Seeks Applications for TE/GE Advisory Committee 2005

IR-2005-124, Oct. 25, 2005 — The IRS is now accepting applications for vacancies on the Tax Exempt and Government Entities Advisory Committee.

Dyed Diesel Fuel Penalty Relief Set to Expire

IR-2005-123, October 21, 2005 — The IRS will not extend penalty relief beyond Oct. 25, 2005, for diesel fuel that is dyed to IRS standards and removed from a terminal after that date.

Tax Favored Treatment for Early Distributions from IRAs and other Retirement Plans for Victims of Hurricane Katrina

IR-2005-122, Oct. 17, 2005 — New Law provides tax favored treatment of certain early distributions from retirement plans for victims of Hurricane Katrina.

Tool for Private Foundations Available

IR-2005-121, Oct. 17, 2005 — The Internal Revenue Service today launched a new Web-based information tool for private foundations.

IRS Announces Pension Plan Limitations for 2006

IR-2005-120, Oct. 14, 2005 — The Internal Revenue Service today announced cost-of-living adjustments applicable to dollar limitations for pension plans and other items for tax year 2006.

Tax Law Eases Loss Limitations for Katrina Victims

IR-2005-119, Oct. 11, 2005 — The IRS today is advising taxpayers about a new law that lifts certain loss limitations for Hurricane Katrina victims.

Treasury Department, IRS Extend Dyed Diesel Fuel Penalty Relief through Oct. 25

IR-2005-118, Oct. 6, 2005 — Penalty relief for dyed diesel fuel sold for use or used on the highway is further extended.

Oct. 17, 2005 Tax Deadline Approaches For Extension Filers

IR-2005-117, Oct. 5, 2005 — Taxpayers who received an additional extension in August should file their returns by Oct. 17.

IRS Summer Statistics of Income Bulletin Features Corporation Returns and Nonfarm Sole Proprietorships

IR-2005-116, Oct. 4, 2005 — The summer 2005 SOI Bulletin contains articles and statistics on corporations, nonfarm sole proprietorships, foreign-controlled corporations, foreign trusts, tax-exempt governmental bonds, estates of decedents and more.

IRS Warns Consumers of Possible Scams Relating to Hurricane Katrina Relief

IR-2005-115, Oct. 3, 2005 – Consumers should protect themselves against possible scams that have cropped up in the wake of Hurricane Katrina.

IRS reaches agreement with Doctors Benefit Insurance Company, LTD

IR-2005-114, Oct. 3, 2005 — The Internal Revenue Service announced today that it has reached an agreement with Doctors Benefit Insurance Company, Ltd. (“DBIC”), assignee of xélan Insurance Company Limited.

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