IRS Digital Dispatch Aug. 23, 2004
In this Issue: 1. New Schedule Helps Resolve Employment Tax Discrepancies 2. IRS Grants Tax Relief for Tropical Storms� Victims 3. IRS Chief Counsel Appoints Zelnik as Senior Counsel, Position Focuses on Abusive Transactions 4. IRS Initiative Will Scrutinize EO Compensation Practices 5. Advance Guidance * * * * * 1. New Schedule Helps Resolve Employment Tax Discrepancies New schedule makes it easier for taxpayers to provide IRS with information about employment tax discrepancies. See: http://www.irs.gov/newsroom/article/0,,id=128499,00.html 2. IRS Grants Tax Relief for Tropical Storms� Victims Taxpayers in 25 Florida counties affected. See: http://www.irs.gov/newsroom/article/0,,id=128465,00.html 3. IRS Chief Counsel Appoints Zelnik as Senior Counsel, Position Focuses on Abusive Transactions He will be the primary adviser on abusive tax transactions to the Chief Counsel. See: http://www.irs.gov/newsroom/article/0,,id=128426,00.html 4. IRS Initiative Will Scrutinize EO Compensation Practices Enforcement effort to halt abuses by tax-exempt organizations that pay excessive compensation and benefits to officers and insiders. See: http://www.irs.gov/newsroom/article/0,,id=128328,00.html 5. Advance Guidance Notice 2004-59, provides guidance in a question-and-answer format on the restrictions placed on plan amendments following an employer�s election of the alternative deficit reduction contribution under IRC 412(l)(12) and ERISA 302(d)(12), as added by Section 102 of the Pension Funding Equity Act of 2004. There is also a related Treasury Dept. News Release. The Notice will be in Internal Revenue Bulletin 2004-36, dated Sept. 7, 2004. Treasury news release and Notice 2004-59 -- http://www.treas.gov/press/releases/js1863.htm * * * Rev. Rul. 2004-69, has been issued and provides the Applicable Federal Rates (AFRs) for September 2004. This Rev. Rul. will be in Internal Revenue Bulletin 2004-36, dated Sept. 7, 2004: http://www.irs.gov/pub/irs-drop/rr-04-69.pdf * * * Rev. Proc. 2004-53 -- This revenue procedure explains both the standard procedure and an alternate procedure for preparing and filing Form W-2, Wage and Tax Statement; Form 941, Employer's Quarterly Federal Tax Return; Form W-4, Employee's Withholding Allowance Certificate; and Form W-5, Earned Income Credit Advance Payment Certificate, in certain acquisitions. It will appear in IRB-2004-34, Aug. 23, 2004. A PDF version of the revenue procedure and a related news release is available now on IRS.gov: � RP-2004-53 -- http://www.irs.gov/pub/irs-drop/rp-04-53.pdf � News release -- http://www.irs.gov/newsroom/article/0,,id=128499,00.html * * * Final and Temporary regulations (TD 9153), providing clarification of definitions of a corporation and a domestic entity in circumstances where the business entity is considered to be created or organized in more than one jurisdiction. Proposed and temporary regulations (REG-124872-04) and a related Treasury Dept. news release: http://www.treas.gov/press/releases/js1854.htm *************************************************************************** Thank you for subscribing to the Digital Dispatch, an IRS e-mail service. If you have a specific concern about your tax situation, call IRS CUSTOMER SERVICE AT 1-800-829-1040. --- If you know someone who might want to subscribe to this mailing list, please forward this message to them and they can send a blank e-mail to mailto:[EMAIL PROTECTED] in order to subscribe. --- This message was distributed automatically from the mailing list digitaldispatch. PLEASE DO NOT REPLY TO THIS MESSAGE. To unsubscribe from this list, send a blank email to mailto:[EMAIL PROTECTED] --- To subscribe to or unsubscribe from another list, please go to http://www.irs.gov/newsroom/index.html and click on 'e-News Subscriptions'. ------------------------ Yahoo! Groups Sponsor --------------------~--> $9.95 domain names from Yahoo!. Register anything. http://us.click.yahoo.com/J8kdrA/y20IAA/yQLSAA/BCfwlB/TM --------------------------------------------------------------------~-> Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/kumpulan/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
