e-News for Tax Professionals 2024-24

The IRS encourages tax professionals to register for the 2024 IRS Nationwide Tax Forum by 5 p.m. ET on June 17 to take advantage of the early bird rate of $255 per person. A savings of $54 off the $309 standard rate and $135 off the on-site registration rate of $390. Standard pricing begins on June 17 after 5 p.m. ET and ends two weeks before the start of each forum.

The 2024 IRS Nationwide Tax Forum begins in Chicago, July 9-11, and continues on to Orlando, July 30-Aug. 1, Baltimore, Aug. 13-15, Dallas, Aug. 20-22, and concludes in San Diego, Sept. 10-12.

As the IRS? marquis outreach event to the tax professional community, these 3-day conferences offer an opportunity for participants to learn from both IRS and industry experts, network with IRS officials and colleagues, and gain valuable insights into the tax industry.

This year?s list of seminars includes topics ranging from tax law updates to managing client examinations, from digital assets to the Secure Act 2.0, and from the employee retention credit to clean energy credits. For more information and to register, visit IRS Nationwide Tax Forum.

2. Reminder: Estimated taxes due June 17

The IRS reminded taxpayers who do not have income subject to withholding that the deadline for paying estimated taxes for the second quarter is June 17. To prevent falling behind on their payments and possibly incurring underpayment penalties, the IRS encourage taxpayers who are paying estimated taxes to take this deadline into account. Additionally, taxpayers are reminded by the IRS that the third quarter payments are due Sept. 16, and the final estimated tax payment for tax year 2024 is due on Jan. 15, 2025.

Taxpayers can use a number of resources to find answers to common tax questions, including the Interactive Tax Assistant, Tax Topics and frequently asked questions.

3. IRS reaches out to job seekers

The IRS announced the redesigned IRS Careers website is operational and prepared to match job seekers with IRS opportunities. As part of an ongoing hiring initiative enabled by Inflation Reduction Act funding, the IRS modernized its primary vehicle to publicize job opportunities and hire new talent.

The hiring site IRS.gov/jobs now provides a comprehensive landing spot for job seekers to find everything they need to pursue a career at the IRS, including:

Upcoming hiring events;
Key job descriptions;
Overview of the IRS and employee benefits; and
Special emphasis hiring paths (veterans, Schedule A Excepted Service Appointing Authority, students and other areas).

For tax professionals interested in a career at the IRS, the IRS is hosting an exclusive recruiting event at the Nationwide Tax Forum, being held in Chicago, Orlando, Baltimore, Dallas and San Diego. Tax Forum registrants will be sent more information leading up to each forum and recruiters will be there to share more information about job openings, salaries and benefits.

4. Tax relief available for Kentucky, West Virginia disaster victims

Disaster-area taxpayers in parts of Kentucky and West Virginia affected by severe storms that began on April 2 have until Nov. 1 to file various federal individual and business tax returns and make payments. The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA). The same relief will be available to any other counties added later to these disaster areas. The current list of eligible localities is available on the Tax relief in disaster situations page on IRS.gov.

5. Upcoming webinars for tax practitioners

The IRS offers the upcoming live webinar to the tax practitioner community:

Understanding Form 2290 - Heavy Highway Vehicle Use Tax on June 18, at 2 p.m. ET. Earn up to 2 CE credits (Federal tax).

For information or to register, visit www.webcaster4.com.

6. News from the Justice Department?s Tax Division

The Justice Department filed a complaint seeking to bar Texas-area tax return preparer Ruben Gonzalez from preparing tax returns for others. By repeatedly understating customers? tax liabilities, the complaint alleges that Gonzalez United States has been harmed by Gonzalez?s conduct, resulting in a significant loss in tax revenue of an estimated $20 million.

7. Technical Guidance

Revenue Procedure 2024-26 updates existing procedures and provides additional procedures for qualified manufacturers to submit information regarding new clean vehicles to ensure the vehicles satisfy the requirements of section 30D(d) and (e) of the Internal Revenue Code (Code) for the applicable calendar year and therefore are eligible for the clean vehicle credit under section 30D.

Notice 2024-47 extends the relief provided in Notice 2024-33, which waived the estimated tax penalty imposed under section 6655 (for a corporation?s failure to pay estimated income tax) to the extent attributable to the revised corporate alternative minimum tax (CAMT) under section 55, but only with respect to an installment of estimated tax due on April 15, 2024, or May 15, 2024, with respect to a taxable year that began in 2024.

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