e-News for Tax Professionals 2023-20

The IRS submitted a report to Congress evaluating a Direct File option for taxpayers and is taking steps to begin a pilot project for the 2024 filing season following a directive from the Treasury Department. The report to Congress, required by the Inflation Reduction Act, evaluated the feasibility of providing taxpayers with the option of a free, voluntary, IRS-run electronic filing system, commonly referred to as "Direct File." This news release is also available in Spanish and Simplified Chinese.

2.??Video: 5 Things to Know about the IRS Nationwide Tax Forums

The IRS Nationwide Tax Forums will return to five cities across the country this summer. Watch a recent episode of Tax Talk Today?s 5 Things to Know, featuring tax forum program manager Patricia Young, who shares highlights about the agency?s premier outreach and education event for tax professionals. The 2023 IRS Nationwide Tax Forums will take place at the following locations:

New Orleans: July 11-13
Atlanta: July 25-27
Washington, D.C. area: Aug. 8-10
San Diego: Aug. 22-24
Orlando: Aug. 29-31

For more information and to register, visit the IRS Nationwide Tax Forums website.

3.??Application deadline for the 2024 Internal Revenue Service Advisory Council is May 31

The IRS is accepting applications for the 2024 Internal Revenue Service Advisory Council (IRSAC) through May 31. The IRSAC serves as an advisory body to the IRS commissioner and provides an organized public forum for discussion of relevant tax administration issues between IRS officials and representatives of the public. IRSAC members are appointed to three-year terms by the IRS commissioner and submit a report to the commissioner annually at a public meeting. The IRS is accepting applications for terms that begin in January 2024. More information, including the application form, is available on the IRSAC webpage.

4.??Webinars for tax practitioners

Tax pros: Here are some upcoming webinars for the tax practitioner community. For more information or to register, visit IRS.gov.

World of Offer in Compromise ? Follow-up Q&A Session on June 1 at 2 p.m. ET. Continuing education will not be offered.
Americans Abroad: Tax Obligations and Reporting Requirements on June 13 at 1 p.m. ET. Earn up to 2 CE credits; certificates of completion will be offered to all participants who qualify.

5.??News from the Justice Department?s Tax Division

A federal court in the Eastern District of New York has permanently enjoined tax return preparer Melida Portorreal and her Brooklyn-based business from preparing federal tax returns for others and from owning, operating or working for any tax return preparation business in the future. The filed civil complaint alleged that Portorreal, through her tax return preparation company, International Travel Multi & Tax Corp., prepared fraudulent federal income tax returns for others for the 2018, 2019 and 2020 tax years that caused losses to the United States exceeding $1 million in each year.

6.??Technical Guidance

Revenue Procedure 2023-23 provides the 2024 inflation adjusted amounts for Health Savings Accounts (HSAs) as determined under section 223 of the Internal Revenue Code and the maximum amount that may be made newly available for excepted benefit health reimbursement arrangements (HRAs) provided under section 54.9831-1(c)(3)(viii) of the Pension Excise Tax Regulations.

Revenue Ruling 2023-10 provides various prescribed rates for federal income tax purposes including the applicable federal interest rates, the adjusted applicable federal interest rates, the adjusted federal long-term rate, and the adjusted federal long-term tax-exempt rate. These rates are determined as prescribed by section 1274.

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