Comment on tax certainty, issue resolution; disaster relief; art alert; chatbot expansion; moreBookmark and Share [ [link removed] ]

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e-News for Small Business October 27, 2023

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Issue Number:? 2023-14

Inside This Issue

* IRS requests small businesses to comment on expanding tax certainty and issue resolution programs [ #First ]
* Current taxpayer relief? [ #Second ]
* IRS: Beware of improper art donation deduction promotions [ #Third ]
* IRS expands chatbot technology ? already serving more than 13 million taxpayers [ #Fourth ]
* Know the benefits of the Work Opportunity Tax Credit [ #Fifth ]
* Other tax news [ #Sixth ]
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*1.??IRS requests small businesses to comment on expanding tax certainty and issue resolution programs*
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The IRS?s Strategic Operating Plan is helping small businesses resolve potential compliance issues up front, through expanded pre-filing and tax certainty programs. These programs allow the IRS and businesses to work together in resolving complex issues before the business files a tax return.

The IRS requests comments from small businesses about improving and expanding tax certainty and issue resolution options for business taxpayers by *March 31, 2024*.

See the expanding tax certainty and issue resolution programs IRS news release [ [link removed] ] for details and how to submit comments.

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*2.? Current taxpayer relief*
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*Terrorist attacks in the State of Israel*

Individuals and businesses affected by the terrorist attacks in the State of Israel [ [link removed] ] now have until *Oct. 7, 2024*, to file various federal returns, make tax payments and perform other time-sensitive tax-related actions.

*California storm victims*

The IRS further postponed tax deadlines for most California taxpayers to *Nov. 16, 2023*. In the wake of last winter?s natural disasters, the normal spring due dates had previously been postponed to Oct. 16.

*Seawater and hurricanes*

Individuals and businesses impacted by seawater intrusion in parts of Louisiana [ [link removed] ], Hurricane Lee anywhere in Maine and Massachusetts [ [link removed] ] and Hurricane Idalia in 28 of 159 counties in Georgia [ [link removed] ] now have until *Feb. 15, 2024*, to file various federal individual and business tax returns and make tax payments.

*Hawaii*

The IRS provided guidance for employers whose employees forgo sick, vacation or personal leave to aid victims of the wildfires that began in parts of Hawaii [ [link removed] ] on *Aug. 8, 2023*.

*Farmers and ranchers*

Eligible farmers and ranchers in 49 states and other areas forced to sell livestock due to drought may have an extended period of time in which to replace the livestock and defer tax on any gains from the forced sales [ [link removed] ].

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*3.??IRS: Beware of improper art donation deduction promotions*
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The IRS warns taxpayers to watch for promotions [ [link removed] ] involving exaggerated art donation deductions that can target high-income filers, and offers special tips to avoid getting caught them.

As part of a larger effort to increase compliance work on high-income individuals and corporations, and protect taxpayers from scams, the IRS has active promoter investigations and taxpayer audits underway in this area.

Find details about these schemes, including:


* How the scheme works
* How to properly claim the deduction, including IRS art appraisal services
* What red flags to watch for
* What the IRS is doing about it

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*4.??IRS expands chatbot technology ? already serving more than 13 million taxpayers?*
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The IRS is using Inflation Reduction Act funding to expand its chatbot technology [ [link removed] ], which quickly answers basic questions for taxpayers receiving notices about possibly underreporting their taxes. The newest chatbot feature will assist taxpayers who receive notices CP2000, CP2501 and CP3219A. These mailings inform taxpayers if the tax information the IRS received from third parties doesn't match the information they provided to the IRS themselves.

Rollout of the newest chatbot builds on prior IRS successes using the technology to help improve taxpayer service. Since January 2022, IRS voice and chatbots, both in English and Spanish, helped more than 13 million taxpayers avoid wait times by resolving their tax issues, including setting up roughly $151 million in payment agreements.

The IRS plans to continue additional bot technology features in the future to assist taxpayers with more complex issues.

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*5.??Know the benefits of the Work Opportunity Tax Credit*
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The Work Opportunity Tax Credit (WOTC) is a federal tax credit available to employers for hiring individuals from certain 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.

For more information, guidelines and to determine if an employer qualifies for the credit, visit the WOTC page [ [link removed] ] on IRS.gov.

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*6.??Other tax news*
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The following information may be of interest to individuals and groups in or related to small businesses:


* Electronic Tax Administration Advisory Committee [ [link removed] ] selects eight new members
* IRS announces 2024 Tax Counseling for the Elderly and Volunteer Income Tax Assistance Program Grants [ [link removed] ]
* IRS clarifies rules for new corporate alternative minimum tax [ [link removed] ]
* IRS looks to hire 3,700 employees nationwide [ [link removed] ] to help expand compliance for large corporations and complex partnerships; experienced accountants encouraged to apply for revenue agent positions
* IRS to establish special pass-through organization to help with high-income compliance efforts [ [link removed] ]; new workgroup to blend current employees and new hires to focus on complex partnerships, other key areas
* IRS updates tax gap projections [ [link removed] ] for 2020, 2021; projected annual gap rises to $688 billion

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*Credits*


* Builders of qualified new energy efficient homes may qualify for an expanded tax credit [ [link removed] ] under Section 45L
* Guidance, updated FAQS for the transfer of clean vehicle credits [ [link removed] ]. Alert: Taxpayers can also now subscribe [ [link removed] ] to get news for clean vehicle manufacturers, dealers and the auto industry; information to navigate clean vehicle tax credits
* IRS requests feedback on preview of proposed changes to Form 6765, Credit for Increasing Research Activities [ [link removed] ]
* Increased energy investment credit for solar and wind facilities benefitting low-income communities [ [link removed] ]

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*Tax Pros*


* IRS delivers new capabilities to Tax Pro Account [ [link removed] ]; latest expansion part of effort to improve technology, tools to help tax professionals serve clients
* Most popular seminars at the 2023 IRS Nationwide Tax Forums [ [link removed] ] now available online

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