Inside This Issue  

1. Filing Season Statistics

2. File Extension Requests By April 17 Filing Deadline

3. IRS Reminds Partnerships to Use Modernized e-File to File by April 17

4. IRS Completes Taxpayer Assistance Blueprint

5. New Publications from the IRS

6. New Electronic Filing Requirement for Small Tax-Exempt Organizations

7. Department of Justice (DOJ) Tax Cases

8. Technical Guidance

Get the latest stats in news release IR-2007-85. In addition, find out about alternative payment options taxpayers may consider if they owe taxes.

Taxpayers who need additional time to complete their tax returns can submit their request for an automatic extension by April 17. The extension gives taxpayers until October 15 to file the tax return. It does not give the taxpayer an extension of time to pay. Use Form 4868 to request an extension to file. Taxpayers who e-file requests will receive a confirmation.

The IRS reminds certain partnerships with more than 100 partners to use Modernized e-File to file their Form 1065, U.S. Return of Partnership Income, or Form 1065B, U.S. Return of Income of Electing Large Partnerships, or to file for an extension by the April 17 filing deadline.

The Taxpayer Assistance Blueprint submitted to Congress is the joint response of the IRS, the IRS Oversight Board and the National Taxpayer Advocate to a congressional mandate for the development of a five-year plan for the delivery of taxpayer service. It represents the most extensive IRS research ever conducted into the needs, preferences and behaviors of taxpayers and partners who assist them in complying with the tax laws, such as volunteer and paid tax return preparers. See news release IR-2007-84 for more info and a link to the Blueprint.

Publication 4588, Basic Tax for Green Card Holders Guide, addresses the tax issues of resident aliens (Green Card Holders).

Publication 4591, Small Business Federal Tax Responsibilities, is a one-stop resource for small businesses and the self-employed. It provides important Web links and other resources to help small business owners understand their tax responsibilities.

Beginning in 2008, small tax-exempt organizations that previously were not required to file returns may be required to file an annual electronic notice Form 990-N (e-Postcard). For more information, go to IRS.gov.

Read about the latest injunctions against tax return preparers and tax fraud promoters at DOJ’s tax news and press releases Web site.

Notice 2007-34 sets forth guidance regarding the application of section 409A to split-dollar life insurance arrangements. The notice addresses the identification of the types of arrangements subject to section 409A, including the application of the statutory effective date rules under section 409A. It also includes guidance on bringing such arrangements into compliance with section 409A, and provides certain related relief under the effective date provisions of the regulations under section 61 and section 7875 addressing split-dollar life insurance arrangements. It will be in IRB 2007-17 dated April 23, 2007.

Revenue Procedure 2007-30 provides (1) limitations on depreciation deductions for owners of cars, trucks, and vans first placed in service by the taxpayer during calendar year 2007; and (2) the amounts to be included in income by lessees of cars, trucks, and vans first leased by the taxpayer during calendar year 2007. It will be in IRB 2007-18 dated April 30, 2007.