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e-News for Tax Professionals March 10, 2023

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Issue Number: ?2023-10

Inside This Issue

* Taxpayer assistance centers across the nation open on Saturday, March 11, offering face-to-face help [ #First ]
* IRS issues renewed warning on Employee Retention Credit claims [ #Second ]
* Digital intake initiative: Form 940 scanning off to strong start; other forms to start soon [ #Third ]
* IRS now accepting supplemental applications for Low Income Taxpayer Clinic grants [ #Fourth ]
* April 1 is last day to start taking money out of IRAs and 401(k)s [ #Fifth ]
* Tax Time Guide: Using electronic payment and agreement options for taxpayers who owe can help avoid penalties and interest [ #Sixth ]
* News from the Justice Department?s Tax Division [ #Seventh ]
* Technical Guidance [ #Eighth ]
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1.? Taxpayer assistance centers across the nation open on Saturday, March 11, offering face-to-face help________________________________________________________________________

The IRS will host special Saturday hours [ [link removed] ] this weekend at taxpayer assistance centers (TACs) across the country. The special Saturday hours will be 9 a.m. to 4 p.m., on March 11, April 8 and May 13 in dozens of states, the District of Columbia and Puerto Rico. Visit IRS.gov for the TAC locations hosting these special Saturday hours [ [link removed] ]. This news release is also available in Spanish [ [link removed] ]and Simplified Chinese [ [link removed] ].

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2.??IRS issues renewed warning on Employee Retention Credit claims________________________________________________________________________

The IRS urges people to carefully review the Employee Retention Credit (ERC) guidelines [ [link removed] ] before trying to claim the credit as promoters continue pushing ineligible people to file. The IRS and tax professionals continue to see third parties aggressively promoting these ERC schemes on radio and online. These promoters charge large upfront fees or a fee that is contingent on the amount of the refund. And the promoters may not inform taxpayers that wage deductions claimed on the business' federal income tax return must be reduced by the amount of the credit. This news release is also available in Spanish [ [link removed] ]and Simplified Chinese [ [link removed] ].

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3.??Digital intake initiative: Form 940 scanning off to strong start; other forms to start soon________________________________________________________________________

As part of ongoing transformation efforts, the IRS this week announced a successful expansion of digital scanning [ [link removed] ]. In a major step in the new Digital Intake scanning initiative, the IRS has already scanned more than 120,000 paper Forms 940 since the start of 2023 ? a twenty-fold increase compared to all of 2022. This effort will expand soon to include scanning of Forms 1040 as well as Forms 941. The scanning effort is part of a multi-form, multi-solution scanning initiative known as Digital Intake. This news release is also available in Spanish [ [link removed] ]and Simplified Chinese [ [link removed] ].

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4.??IRS now accepting supplemental applications for Low Income Taxpayer Clinic grants________________________________________________________________________

The IRS is accepting supplemental applications for Low Income Taxpayer Clinic (LITC) matching grants [ [link removed] ] from all qualified organizations. The application period will run until April 18. The funding and the period of performance for the supplemental grant will be July 1 to Dec. 31, 2023. Visit IRS.gov for more information about the qualification criteria and how to apply.

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5.??April 1 is last day to start taking money out of IRAs and 401(k)s________________________________________________________________________

The Internal Revenue Service reminded [ [link removed] ]retirees who turned 72 during 2022 that, in most cases, Saturday, April 1, 2023, is the last day to begin receiving payments from Individual Retirement Arrangements (IRAs), 401(k)s and similar workplace retirement plans. This news release is also available in Spanish [ [link removed] ]and Simplified Chinese [ [link removed] ].

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6.??Tax Time Guide: Using electronic payment and agreement options for taxpayers who owe can help avoid penalties and interest________________________________________________________________________

With the tax deadline approaching, the IRS reminded [ [link removed] ]taxpayers they can avoid late filing and interest penalties by submitting their tax return and any payments due by April 18. For struggling taxpayers who can't pay by the deadline, the IRS offers several different options to help. This news release is also available in Spanish [ [link removed] ] and Simplified Chinese [ [link removed] ].

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7.??News from the Justice Department?s Tax Division________________________________________________________________________

A federal jury in Greenbelt, Md., convicted a Maryland man today of preparing false tax returns [ [link removed] ] on behalf of his clients. According to court documents and evidence presented at trial, Ronald Eugene Watson, also known as Sabir Muhammad, owned and operated SW Accounting Associates, a tax return preparation business located in Largo.

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8.??Technical Guidance________________________________________________________________________

Notice 2023-23 [ [link removed] ] provides guidance to financial institutions for reporting required minimum distributions (RMDs) for 2023 because of a change to the RMD rules made by the SECURE 2.0 Act (Division T of the Consolidated Appropriations Act, 2023, P. L. 117-328).

Revenue Procedure 2023-17 [ [link removed] ] provides indexing adjustments for the applicable dollar amounts under section 4980H(c)(1) and (b)(1) of the Internal Revenue Code. These indexed amounts are used to calculate the employer shared responsibility payments (ESRP) under section 4980H(a) and (b)(1), respectively.

Notice 2023-24 [ [link removed] ] provides the general rules for determining the credit for production from advanced nuclear power facilities under ? 45J (? 45J credit) and that the amount of the unutilized national megawatt capacity limitation (NMCL) available for allocation is 6,000 megawatts.

Revenue Procedure 2023-18 [ [link removed] ] modifies and supersedes both Rev. Proc. 2016-33 and Rev. Proc. 2017-14. It addresses the procedures for applying to be certified as a Certified Professional Employer Organization (CPEO), the requirements for a CPEO to remain certified, and the procedures relating to suspension and revocation of CPEO certification.

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