IRS tax forums; NTA midyear report to Congress; energy efficient commercial building deduction guidance; and more
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e-News for Tax Professionals June 23, 2023
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Issue Number: 2023-25
Inside This Issue
* IRS Nationwide Tax Forums offer tax pros timely seminars, special programs and more; register today [ #First ]
* National Taxpayer Advocate issues midyear report to Congress; highlights filing season challenges, focuses on strategic priorities [ #Second ]
* Energy efficient commercial building deduction guidance now available [ #Third ]
* Work Opportunity Tax Credit [ #Fourth ]
* News from the Justice Department?s Tax Division [ #Fifth ]
* Technical Guidance [ #Sixth ]
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*1.??IRS Nationwide Tax Forums offer tax pros timely seminars, special programs and more; register today*________________________________________________________________________
The IRS Nationwide Tax Forums kick-off in only a few weeks. Register and reserve your spot today for access to:
* *More than 40 seminars* for which you can earn up to 18 continuing education (CE) credits. The wide-ranging agenda [ [link removed] ] includes a special focus on the Inflation Reduction Act's changes at the IRS.
* *A special plenary session* that will explore changes outlined in the Strategic Operating Plan [ [link removed] ], changing how the IRS operates and interacts with taxpayers and the tax community for the next decade.
* A *new series of special events [ [link removed] ]*, including sessions focused on practice management, the taxpayer experience and cybersecurity, and a town hall meeting with the National Taxpayer Advocate.
* The *Case Resolution Program*, where you can receive one-on-one help from IRS representatives on your toughest, unresolved case.
* The *Expo Hall*, where you?ll have opportunities to engage with industry experts, IRS representatives and exhibitors displaying a wide selection of products and services that may help enhance your business operations.
The IRS Nationwide Tax Forums will be in New Orleans, July 11-13; Atlanta, July 25-27; the Washington, D.C. area, Aug. 8-10; San Diego, Aug. 22-24; and Orlando, Aug. 29-31. For more information and to register, visit the IRS Nationwide Tax Forum website [ [link removed] ].
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*2.??National Taxpayer Advocate issues midyear report to Congress; highlights filing season challenges, focuses on strategic priorities*________________________________________________________________________
National Taxpayer Advocate Erin M. Collins this week released her Fiscal Year 2024 Objectives Report to Congress [ [link removed] ], which presents an assessment of the 2023 filing season and identifies key objectives the Taxpayer Advocate Service (TAS) will pursue during the upcoming fiscal year.
The report [ [link removed] ] says taxpayer experience vastly improved during the 2023 filing season: The IRS caught up in processing paper-filed original Forms 1040 for individuals and various business returns; refunds were generally issued quickly; and taxpayers calling the IRS were much more likely to get through. Despite these improvements, the report says the IRS is still behind in processing amended tax returns and taxpayer correspondence. The report also identifies 17 key objectives TAS will pursue during the upcoming fiscal year, including improving functionality of digital services for tax professionals and protecting taxpayer rights as the IRS implements its Strategic Operating Plan [ [link removed] ].
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*3.??Energy efficient commercial building deduction guidance now available*________________________________________________________________________
Building owners who construct energy efficient buildings or increase the energy efficiency of existing buildings by at least 25 percent may be able to claim a tax deduction. Visit the new Energy Efficient Commercial Building Deduction [ [link removed] ] webpage on IRS.gov for more information about who is eligible, buildings that qualify and more.
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*4.??Work Opportunity Tax Credit*________________________________________________________________________
Giving someone a work opportunity may translate into a business tax credit for your client and greater stability for a family. The Work Opportunity Tax Credit [ [link removed] ] (WOTC) is a federal tax credit available to employers for hiring individuals from certain targeted groups who have consistently faced significant barriers to employment. The WOTC joins other workforce programs that incentivize workplace diversity and facilitate access to good jobs for American workers. The Consolidated Appropriation Act 2021 authorized the extension of the WOTC until Dec. 31, 2025.
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*5.??News from the Justice Department?s Tax Division*________________________________________________________________________
Eugene R. Britt III [ [link removed] ] of Milledgeville, Ga., was sentenced to 24 months in prison for evading taxes in connection with his ownership of multiple bars and restaurants in Georgia, as well as beer sales at a music festival. In addition to the term of imprisonment, Britt has been ordered to serve three years of supervised release and pay a $10,000 fine and $362,250 in restitution. IRS Criminal Investigation and the FBI investigated the case.
Timothy J. Lundquist [ [link removed] ] of Minnesota pleaded guilty to willfully failing to account for and pay over employment taxes for his automobile transmission business. Lundquist was responsible for filing quarterly employment tax returns, as well as collecting and paying over to the IRS payroll taxes withheld from employees? wages. For at least the last quarter of 2013 through 2018, Lundquist did not pay withholdings to the IRS or file required employment tax returns. In total, he caused a tax loss to the IRS of more than $1.2 million. IRS Criminal Investigation is investigating the case. Lundquist faces a statutory maximum of five years in prison. He also faces a period of supervised release, restitution and monetary penalties.
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*6.??Technical Guidance*________________________________________________________________________
Notice 2023-37 [ [link removed] ] addresses the announced end of the COVID-19 public health emergency and the National Emergency Concerning the Novel Coronavirus Disease 2019 Pandemic on May 11, 2023.
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