ERC Claims; National Tax Security Awareness week; Business Tax Account focus groups; and more

Bookmark and Share [ [link removed] ]

a { color:#0073AF !important;} a:hover { color:#004673 !important;} <!-- body { font-family: arial; } p { font-size: 12px; } li { font-size: 12px; } h2 { font-size: 24px; font-style: italic;} -->
IRS.gov Banner
e-News for Tax Professionals November 22, 2024

Useful Links:

IRS.gov [ [link removed] ]

Tax Professionals Home [ [link removed] ]

All Forms and Instructions [ [link removed] ]

Stakeholders Partners' [ [link removed] ]
Headliners [ [link removed] ]

Training and [ [link removed] ]
Communication Tools [ [link removed] ]

e-Services [ [link removed] ]

Taxpayer Advocate Service [ [link removed] ]

Disaster Relief [ [link removed] ]

Internal Revenue Bulletins [ [link removed] ]

IRS Social Media [ [link removed] ]

________________________________________________________________________

Upcoming Events

Seminars, Workshops, Conferences, and Other Practitioner Activities By State:

Nationwide Webinars [ [link removed] ]

Alabama [ [link removed] ]
Alaska [ [link removed] ]
Arizona [ [link removed] ]
Arkansas [ [link removed] ]
California [ [link removed] ]
Colorado [ [link removed] ]
Connecticut [ [link removed] ]
Delaware [ [link removed] ]
District of Columbia [ [link removed] ]
Florida [ [link removed] ]
Georgia [ [link removed] ]
Hawaii [ [link removed] ]
Idaho [ [link removed] ]
Illinois [ [link removed] ]
Indiana [ [link removed] ]
Iowa [ [link removed] ]
Kansas [ [link removed] ]

________________________________________________________________________

Kentucky [ [link removed] ]
Louisiana [ [link removed] ]
Maine [ [link removed] ]
Maryland [ [link removed] ]
Massachusetts [ [link removed] ]
Michigan [ [link removed] ]
Minnesota [ [link removed] ]
Mississippi [ [link removed] ]
Missouri [ [link removed] ]
Montana [ [link removed] ]
Nebraska [ [link removed] ]
Nevada [ [link removed] ]
New Hampshire [ [link removed] ]
New Jersey [ [link removed] ]
New Mexico [ [link removed] ]
New York [ [link removed] ]
North Carolina [ [link removed] ]

________________________________________________________________________

North Dakota [ [link removed] ]
Ohio [ [link removed] ]
Oklahoma [ [link removed] ]
Oregon [ [link removed] ]
Pennsylvania [ [link removed] ]
Rhode Island [ [link removed] ]
South Carolina [ [link removed] ]
South Dakota [ [link removed] ]
Tennessee [ [link removed] ]
Texas [ [link removed] ]
Utah [ [link removed] ]
Vermont [ [link removed] ]
Virginia [ [link removed] ]
Washington [ [link removed] ]
West Virginia [ [link removed] ]
Wisconsin [ [link removed] ]
Wyoming [ [link removed] ]

________________________________________________________________________

Back to top [ #top ]


Issue Number: 2024-47

Inside This Issue

* Deadline for third-party payers to help resolve improper ERC claims extended to Dec. 31 [ #First ]
* National Tax Security Awareness week starts Dec. 2 [ #Second ]
* Tax pros: Share your feedback on the Business Tax Account online self-service tool [ #Third ]
* IRS Advisory Council releases 2024 annual report [ #Fourth ]
* Over-the-phone transcript request protections expands to more IRS phone lines [ #Fifth ]
* Protect your information: Sign up for IP PIN, Online Account [ #Sixth ]
* Interest rates drop for the first quarter of 2025 [ #Seventh ]
* International Fraud Awareness Week: IRS shares how to report fraud, taxpayer protection against scams, schemes [ #Eighth ]
* Treasury, IRS finalize additional partnership clean energy regulations and recommend related administrative requirements [ #Ninth ]
* Upcoming webinars for tax professionals [ #Tenth ]
* Technical Guidance [ #Eleventh ]
________________________________________________________________________

*1.  Deadline for third-party payers to help resolve improper ERC claims extended to Dec. 31*

________________________________________________________________________

To help payroll companies and other third-party payers help more clients with resolving incorrect Employee Retention Credit [ [link removed] ] (ERC) claims, the IRS has extended the deadline for third-party payers through Dec. 31, to use the consolidated claim process [ [link removed] ]. Originally, the third-party option was set to close Nov. 22.

The deadline to participate in the second Voluntary Disclosure Program is still today, Friday, Nov. 22.

Back to top [ #top ]

________________________________________________________________________

*2.  National Tax Security Awareness week starts Dec. 2*

________________________________________________________________________

In its ninth year, the National Tax Security Awareness Week [ [link removed] ] takes place Dec. 2 - 6. As the holidays and the 2025 tax season draw near, the IRS and Security Summit partners remain committed to fighting identity thieves and their increasingly complex schemes.

“We are entering into a critical period where taxpayers need to be extra careful protecting their valuable information,” said IRS Commissioner Danny Werfel. “Scams and schemes are quickly evolving. Extra caution by people during the holiday season and the upcoming filing season will be essential to avoid being a victim. By being aware of the risks, taxpayers can protect themselves, their families and their communities. Vigilant taxpayers are on the front lines of the larger efforts by the Security Summit partners to strengthen the tax system against identity theft and tax scams.”

For more information, visit National Tax Security Awareness Week 2024 [ [link removed] ].

Back to top [ #top ]

________________________________________________________________________

*3.  Tax pros: Share your feedback on the Business Tax Account online self-service tool*

________________________________________________________________________

If you are a business owner or represent one, the IRS wants to hear from you. The IRS is conducting virtual focus groups to gather feedback on the Business Tax Account (BTA) online self-service tool. We are looking for comments and suggestions from stakeholders who will use the BTA online platform. BTA was created to allow business entities to communicate and transact business with the IRS. Your input will help shape and improve this tool.

The IRS is looking for individuals who are:


* Authorized to legally bind their organization
* Chief executive officers
* Officers
* Partners
* Shareholders
* Designated officials [ [link removed] ] (DO)

To register, send an email with “Focus Group Volunteer: Business Tax Account” in the subject line to [email protected]. Include the following information in the email body:


* Name
* Entity type
* Position title
* State
* Email address
* Phone number
* Session date
* Special accommodations

Focus groups are limited to 12 participants. Selected volunteers will receive a confirmation email with a meeting link from [email protected]. These sessions aim to gather feedback on account access and authorization processes for entity types below. 

ENTITY TYPE FOCUS GROUP DATE TIME C Corporation DO December 3, 2024 12:00 PM - 1:15 PM Eastern Partners/Shareholders December 3, 2024 3:00 PM - 4:15 PM Eastern S Corporation DO December 4, 2024 12:00 PM - 1:15 PM Eastern Partnership DO December 4, 2024 3:00 PM - 4:15 PM Eastern Partnership DO December 5, 2024 12:00 PM - 1:15 PM Eastern C Corporation DO December 5, 2024 3:00 PM - 4:15 PM Eastern

Back to top [ #top ]

________________________________________________________________________

*4.  IRS Advisory Council releases 2024 annual report*

________________________________________________________________________

The Internal Revenue Service Advisory Council (IRSAC) this week issued its 2024 IRSAC Public Report [ [link removed] ]. Recommendations on 37 issues spanning a wide range of topics are included in the annual report.

“IRSAC members have spent numerous hours analyzing issues in tax administration and the transformation work underway across the IRS,” said IRS Commissioner Danny Werfel. “The IRS is grateful for their hard work and valuable insights they spent on this year’s report, and we look forward to reviewing their recommendations.”

The IRSAC is administered under the Federal Advisory Committee Act by the IRS Communications & Liaison Division, Office of National Public Liaison. For more information, visit IRS.gov/irsac [ [link removed] ].

Back to top [ #top ]

________________________________________________________________________

*5.  Over-the-phone transcript request protections expands to more IRS phone lines*

________________________________________________________________________

Beginning in early December 2024, the IRS will expand the safeguards implemented in April 2024 that protected taxpayer transcripts being requested over the Practitioner Priority Service line to requests made over the TEGE and international phone lines.

Specifically, when tax professionals call these lines requesting transcripts be deposited into their Secure Object Repository (SOR), they too will be required to pass current authentication requirements and verify their Short Identification (ID).

The Short ID is a unique 8-10 alphanumeric code that is systemically assigned when an IRS account is established. This Short ID is visible when the tax professional logs in to their e-Services SOR.

If PPS, TEGE and international assistors can’t verify the caller’s identity, assistors will only be able to mail the transcripts to the taxpayer’s address of record. Assistors cannot resolve issues with ID.Me identity proofing or the status of an ID.Me account.

Back to top [ #top ]

________________________________________________________________________

*6.  Protect your information: Sign up for IP PIN, Online Account*

________________________________________________________________________

The IRS urges taxpayers who plan to file early in 2025 to sign up for an IP PIN [ [link removed] ] before Saturday, Nov. 23. The IRS reminds taxpayers they can still sign up for an IRS Online Account [ [link removed] ]. Taking these steps will make it easier for taxpayers to protect their information and avoid refund delays by accepting certain e-filed tax returns that claim dependents who have already been claimed on another taxpayer’s return. This modification will benefit filers claiming important tax credits like the Earned Income Tax Credit and Child Tax Credit.

Back to top [ #top ]

________________________________________________________________________

*7.  Interest rates drop for the first quarter of 2025*

________________________________________________________________________

The IRS announced a decrease in first quarter interest rates [ [link removed] ] beginning Jan. 1. The interest rates are computed from the federal short-term rate determined during October 2024. See Revenue Ruling 2024-25 [ [link removed] ] for details.

Back to top [ #top ]

________________________________________________________________________

*8.  International Fraud Awareness Week: IRS shares how to report fraud, taxpayer protection against scams, schemes*

________________________________________________________________________

During International Fraud Awareness Week [ [link removed] ], the IRS reminds taxpayers how to report tax-related fraud in their communities. Individuals, businesses and tax professionals are cautioned by the IRS and its partners to be aware of red flags [ [link removed] ] and to take appropriate precautions against fraudulent tax schemes.

Back to top [ #top ]

________________________________________________________________________

*9.  Treasury, IRS finalize additional partnership clean energy regulations and recommend related administrative requirements*

________________________________________________________________________

The Department of Treasury and the IRS issued final rules [ [link removed] ] aimed to assist certain entities that co-own clean energy [ [link removed] ] projects in obtaining clean energy tax credits through elective pay. Additionally, proposed regulations [ [link removed] ] were made public. Under the amended rules, incorporated organizations that opt out of partnership treatment will be subject to additional administrative requirements.

Back to top [ #top ]

________________________________________________________________________

*10.  Upcoming webinars for tax professionals*

________________________________________________________________________

The IRS offers the upcoming live webinars to the tax professional community:


* *IRS and FTC present: Scams, tax related identity theft and Identity Protection PIN for National Tax Security Awareness Week* on Dec. 3, at 11 a.m. ET. No continuing education credit is being offered. Click here [ [link removed] ] to register.
* *Building a sustainable practice: Managing risk and strengthening client relationships through ethical tax practice* on Dec. 4, at 2 p.m. ET. Earn up to two continuing education credits (Federal Tax). Certificates of completion are being offered. Click here [ [link removed] ] to register.

Back to top [ #top ]

________________________________________________________________________

*11.  Technical Guidance*

________________________________________________________________________

Announcement 2024-38 [ [link removed] ] notifies the public that the IRS intends to issue opinion letters on November 29, 2024, or as soon as possible thereafter, for section 403(b) pre-approved plans that were updated for changes with respect to the requirements of section 403(b), including the 2022 Cumulative List, and that were filed during the second remedial amendment cycle for section 403(b) pre-approved plans.

Revenue Ruling 2024-25 [ [link removed] ] sets forth the federal short-term rates for the calendar quarter beginning Jan. 1, 2025, in accordance with section 6621 of the Internal Revenue Code, which establishes the interest rates on overpayments and underpayments of tax.

Revenue Ruling 2024-26 [ [link removed] ] 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.

Back to top [ #top ]

________________________________________________________________________

                              FaceBook Logo [ [link removed] ]  YouTube Logo [ [link removed] ]  Instagram Logo [ [link removed] ]  Twitter Logo [ [link removed] ]  LinkedIn Logo [ [link removed] ]________________________________________________________________________

Thank you for subscribing to e-News for Tax Professionals an IRS e-mail service.

If you have a specific concern about your client's tax situation, call the IRS Practitioner Priority Service 1-866-860-4259.

This message was distributed automatically from the mailing list e-News for Tax Professionals. *Please Do Not Reply To This Message *

To subscribe to or unsubscribe from another list, please go to the e-News Subscriptions [ [link removed] ] page on the IRS Web site.


________________________________________________________________________

Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page [ [link removed] ]. You will need your email address to log in. If you have questions or problems with the subscription service, visit subscriberhelp.govdelivery.com [ [link removed] ].

This service is provided to you at no charge by the Internal Revenue Service (IRS) [ [link removed] ].


body .abe-column-block {min-height: 5px;} ________________________________________________________________________

This email was sent to [email protected] by: Internal Revenue Service (IRS) · Internal Revenue Service · 1111 Constitution Ave. N.W. · Washington, D.C. 20535 GovDelivery logo [ [link removed] ]
body .abe-column-block { min-height: 5px; } table.gd_combo_table img {margin-left:10px; margin-right:10px;} table.gd_combo_table div.govd_image_display img, table.gd_combo_table td.gd_combo_image_cell img {margin-left:0px; margin-right:0px;}