IRS Digital Dispatch Date: October 29, 2004.
In this Issue: 1. IRS.gov Cited as Most Reliable Government Web Site 2. Check Carefully Before Applying for Offers in Compromise 3. IRS Revises Offer in Compromise Application Form; Now Available for Use 4. IRS Tightens Position on Abusive Tax Shelter Settlement Terms 5. IRS Announces Pension Plan Limitations for 2005 6. Recent Technical Guidance ***** 1. IRS.gov Cited as Most Reliable Government Web Site IRS.gov is one of the first winners of a new awards program designed to recognize excellence in Web site performance. Keynote Systems has announced that IRS.gov is one of the first winners of the Keynote Performance Awards, a new awards program designed to recognize excellence in Web site performance. Keynote honored the fastest and most reliable Web sites in three categories: e-commerce, e-government and online travel and hospitality. See: http://www.irs.gov/newsroom/article/0,,id=130492,00.html 2. Check Carefully Before Applying for Offers in Compromise Don't fall for promoters' promises - taxpayers must meet requirements for an offer in compromise. Taxpayers may refer promoters who are using the program inappropriately to the IRS’s Office of Professional Responsibility for civil sanctions by sending their complaint to: Office of Professional Responsibility (SE:OPR), Internal Revenue Service, 1111 Constitution Avenue N.W., Washington, DC 20224. See: http://www.irs.gov/newsroom/article/0,,id=130493,00.html 3. IRS Revises Offer in Compromise Application Form; Now Available for Use IRS has revised Form 656, which taxpayers use to apply to make a payment less than the full amount of their tax liability. The Form has been revised to make it easier to understand and use. See: http://www.irs.gov/newsroom/article/0,,id=130491,00.html 4. IRS Tightens Position on Abusive Tax Shelter Settlement Terms The IRS has tightened its settlement guidelines under which it will accept offers to settle cases with taxpayers that participated in certain abusive transactions. See: http://www.irs.gov/newsroom/article/0,,id=130347,00.html 5. IRS Announces Pension Plan Limitations for 2005 Most pension plan limitations will change for 2005. See: http://www.irs.gov/newsroom/article/0,,id=130346,00.html 6. Recent Technical Guidance Announcement 2004-87, regarding the suspension of tax exemption of the Islamic African Relief Agency – USA, of Columbia, Missouri, an organization designated as supporting or engaging in terrorist activity or supporting terrorism. See: http://www.irs.gov/pub/irs-drop/a-04-87.pdf Announcement 2004-82 discusses the reporting by trustees and custodians of the number of Archer MSAs established during the first six months of 2004. See: http://www.irs.gov/pub/irs-drop/a-04-82.pdf Notice 2004-71, providing guidance under IRC 1(h)(11) for the 2004 information reporting of a distribution with respect to a security issued by a foreign corporation. It also provides guidance regarding whether a security is readily tradable on an established U.S. securities market. See: http://www.irs.gov/pub/irs-drop/n-04-71.pdf ***** --- 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'.
