[OSSSA218] Update from the IRS

Fri Nov 18 07:48:31 PST 2011

Good morning:

Here are the latest IRS News Releases and Headliners to distribute to your small business members.  I hope that the information will be helpful and we encourage publication in your association's magazines, newsletters, email distributions and/or website.

Below are summaries and links to the most recent headliners and news releases your members might be interested in.  The title and summary are designed to give you a brief overview of the article's content -- the link to the full article is at the end of each summary. I encourage you to use any or all of these in newsletters or emails to your members, or on your web site.

If someone else in your organization is a more appropriate contact point for these types of emails, please let me know.  And if you do not want to receive future emails like this one, please reply and request your name be removed.

KayDel

KayDel Marshall
Senior Stakeholder Liaison
Small Business & Self-Employed C/L/D
100 S.W. Main Street, Suite 1200
Portland, Oregon 97204
ID#1000843166
503-415-7141/503-473-3694

Got Tax Questions?  Watch Videos & Get Answers on the IRS Video Portal

http://www.irsvideos.gov/ 
Connect with the IRS<http://links.govdelivery.com/track?type=click&enid=bWFpbGluZ2lkPTEyNDM1NjAmbWVzc2FnZWlkPVBSRC1CVUwtMTI0MzU2MCZkYXRhYmFzZWlkPTEwMDEmc2VyaWFsPTEyNzY1ODE3NTQmZW1haWxpZD1raW0uYm95YWNrQGlycy5nb3YmdXNlcmlkPWtpbS5ib3lhY2tAaXJzLmdvdiZmbD0mZXh0cmE9TXVsdGl2YXJpYXRlSWQ9JiYm&&&110&&&http://www.irs.gov/newsroom/article/0,,id=227226,00.html> through YouTube, Twitter and other social media channels to spread the word about important tax information.

Announcements & Upcoming Events:

Now Available on the IRS Video Portal: Reporting of Employer Provided Healthcare Coverage on Form W-2
http://www.irsvideos.gov/ReportingEmployerHealthcareCoverage/ 
About 1 hour long. This webinar was originally broadcast Oct 31, and explains the Affordable Care Act provision that requires some employers to report health care coverage on Form W-2.

Related links:
IR-2011-31<http://www.irs.gov/newsroom/article/0,,id=237870,00.html>, IRS Issues Interim Guidance on Informational Reporting of Employer-Sponsored Health Coverage
Employer-Provided Health Coverage Informational Reporting Requirements: Frequently Asked Questions<http://www.irs.gov/newsroom/article/0,,id=237894,00.html>

OAME Architects & Engineers Meeting
December 9, 2011 7:00 a.m. to 7:45 a.m. | Large Conference Room
Leaders from the private and public sectors come together to announce upcoming projects and network with the business community. To be added to the agenda contact modena at oame.org<mailto:modena at oame.org>  by December 5th,  2011. This event is free and open to the public.

OAME Contractors Meeting
December 9,  2011 8:00 a.m. to 9:00 a.m. | Large Conference Room
Leaders from the private and public sectors come together to announce upcoming projects and network with the business community.To be added to the agenda contact modena at oame.org <mailto:modena at oame.org>  by December 5th, 2011. This event is free and open to the public.
Oregon Small Business Forum - January 24, 2012 from 8:00 a.m. to 12:00 will be the next scheduled Oregon Small Business Forum at The Oregon Association for Minority Entrepreneurs, 4134 N. Vancouver, Portland, Oregon.  The Focus Area Topic will be "How a Business Coach Can Help Small Business Achieve Success."  Big Jim Steiner of SCORE and other speakers will focus on the resources available and advantages of business coaching to enhance the success of small businesses in Oregon.
OAME Trade Show & Luncheon Thursday May 10, 2012 at the Oregon Convention Center
Reserve your booth for next year, numbers are limited! email modena at oame.org<blocked::mailto:modena at oame.org> Click HERE to view event photos!<http://oame.org/gallery.cfm>

Mercy Corps Northwest  has several small business trainings coming up.  Check at  it out at:   http://www.mercycorpsnw.org/what-we-do/classes-and-events/<blocked::blocked::http://www.mercycorpsnw.org/what-we-do/classes-and-events/>

Portland General Electric offers free energy seminars for business that can boost your bottom line.  Check it out at:  http://portlandgeneral.com/business/news_classes/classes/default.aspx?small<blocked::blocked::http://portlandgeneral.com/business/news_classes/classes/default.aspx?small>

Oregon Small Business Development Centers have classes and trainings at SBDC's located around the State of Oregon.  Check it out at:   http://clients.bizcenter.org/Events.aspx?days=14&sort=L 

IRS Updates & News Releases:
Did you know? One of the best ways to get information is by visiting the IRS Small Business Tax Center<http://www.irs.gov/businesses/small/index.html> where you can learn everything from how to get an Employer Identification Number (EIN) online to how to best navigate an audit.

IRS Advisory Council Issues 2011 Annual Report
http://www.irs.gov/newsroom/article/0,,id=249763,00.html 
One of the Internal Revenue Service's main advisory panels for tax administration today issued its 2011 annual report<http://www.irs.gov/taxpros/article/0,,id=102281,00.html>, covering a range of key issues affecting taxpayers.
The Internal Revenue Service Advisory Council (IRSAC) issued its report at a public meeting. IRSAC's primary purpose is to provide an organized public forum for senior IRS executives and representatives of the public to discuss relevant tax administration issues.  Based on its findings, IRSAC made several recommendations on a broad array of issues and concerns - see the article for the list, as well as the full report for further details.

Prepared Remarks of IRS Commissioner Douglas H. Shulman before Harvard Kennedy School, Cambridge, Massachusetts
http://www.irs.gov/newsroom/article/0,,id=249735,00.html 
Commissioner Shulman discusses aspects of the tax code with Harvard's Kennedy School's public policy students.

Prepared Remarks of IRS Commissioner Doug Shulman at the AICPA Fall Meeting in Washington, D.C., on Nov. 8, 2011
http://www.irs.gov/newsroom/article/0,,id=249453,00.html 
In prepared remarks to the AICPA Fall Meeting, Commissioner Shulman discusses some priority programs at the IRS including the Return Preparer Program, the evolving relationship with large corporate taxpayers, and work toward a real-time tax system.

FAQs on New Payment Card Reporting Requirements
http://www.irs.gov/newsroom/article/0,,id=249029,00.html 
The Internal Revenue Service is providing special transitional relief to banks and other payment settlement entities required to begin reporting payment card and third-party network transactions to the IRS on new Form 1099-K.

By law, reporting is scheduled to begin in early 2012 for payment card and third-party network transactions that occurred in 2011. Details on the special transitional relief and reporting requirements are in these FAQs, and more information on this relief is in Notice 2011-88<http://www.irs.gov/pub/irs-drop/n-11-88.pdf> and Notice 2011-89<http://www.irs.gov/pub/irs-drop/n-11-89.pdf>.

IRPAC Issues Annual Report for 2011
http://www.irs.gov/newsroom/article/0,,id=248947,00.html 
The Information Reporting Program Advisory Committee (IRPAC) today released its 2011 Report, which includes recommendations pertaining to merchant card and third-party payments, the Foreign Account Tax Compliance Act and other tax administration issues.  IRPAC provides a public forum for the IRS and members of the information reporting community in the private sector to discuss relevant information reporting issues. The IRPAC is administered by the National Public Liaison Division of the IRS. IRPAC draws its members from the tax professional community.
2011 Information Reporting Program Advisory Committee Public Report -- http://www.irs.gov/taxpros/article/0,,id=248778,00.html 

IRS Begins PTIN Renewals for 2012 Filing Season
http://www.irs.gov/newsroom/article/0,,id=248572,00.html 
The IRS announced that the nation's 738,000 tax return preparers who have Preparer Tax Identification Numbers (PTINs) can now renew their PTINs for the 2012 filing season. Preparers are required to renew their PTINs on an annual basis and need to do so before the next year begins. For example, a preparer's PTIN for 2012 must be renewed by Dec. 31, 2011.

In 2012, Many Tax Benefits Increase Due to Inflation Adjustments
http://www.irs.gov/newsroom/article/0,,id=248485,00.html 
Personal exemptions, standard deductions and other tax items go up in 2012 for tax returns people will file in 2013.
For tax year 2012, personal exemptions and standard deductions will rise and tax brackets will widen due to inflation, the Internal Revenue Service announced today.
By law, the dollar amounts for a variety of tax provisions, affecting virtually every taxpayer, must be revised each year to keep pace with inflation. New dollar amounts affecting 2012 returns, filed by most taxpayers in early 2013, include the following:
Details on these inflation adjustments can be found in Revenue Procedure 2011-52<http://www.irs.gov/pub/irs-drop/rp-11-52.pdf>,

Foreign Agricultural Workers
http://www.irs.gov/businesses/small/international/article/0,,id=96422,00.html 
New reporting requirements<http://www.irs.gov/businesses/small/international/article/0,,id=96422,00.html> for foreign agricultural workers temporarily admitted into the United States on H-2A visas take affect in 2011.

SSA/IRS Reporter
http://www.irs.gov/businesses/small/article/0,,id=109886,00.html 
The latest issue of the SSA/IRS Reporter<http://links.govdelivery.com/track?type=click&enid=ZWFzPTEmbWFpbGluZ2lkPTIwMTExMTA5LjM4NTY3ODEmbWVzc2FnZWlkPU1EQi1QUkQtQlVMLTIwMTExMTA5LjM4NTY3ODEmZGF0YWJhc2VpZD0xMDAxJnNlcmlhbD0xNjc4MDM0NSZlbWFpbGlkPWthcmkucy5naWxqZUBpcnMuZ292JnVzZXJpZD1rYXJpLnMuZ2lsamVAaXJzLmdvdiZmbD0mZXh0cmE9TXVsdGl2YXJpYXRlSWQ9JiYm&&&123&&&http://www.irs.gov/businesses/small/article/0,,id=109886,00.html> includes articles on:

  *   Simplified employee pension plan for partnerships
  *   E-file for employment taxes
  *   Preparing for "split" reporting on 2011 Form 940

Protect Your Personal Information: The IRS Does Not Initiate Taxpayer Communications through Email
http://www.irs.gov/privacy/article/0,,id=179820,00.html 
Phishing is a scam typically carried out by unsolicited email and/or websites that pose as legitimate sites and lure unsuspecting victims to provide personal and financial information.
A reminder as we approach the tax filing season ... the IRS does not initiate email communication with taxpayers regarding EFTPS or tax account matters.
The IRS does not ...
... request detailed personal information through email.
... send any communication requesting your PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts.

All unsolicited email claiming to be from either the IRS or any other IRS-related components such as the Office of Professional Responsibility<http://www.irs.gov/privacy/article/0,,id=249529,00.html> or EFTPS<http://www.irs.gov/newsroom/article/0,,id=229075,00.html>, should be reported to phishing at irs.gov<mailto:phishing at irs.gov>.  However, if you have experienced monetary losses due to an IRS-related incident please file a complaint with the Federal Trade Commission through their Complaint Assistant<http://www.irs.gov/app/scripts/exit.jsp?dest=https%3A%2F%2Fwww.ftccomplaintassistant.gov%2FFTC_Wizard.aspx%3FLang%3Den%26OrgCode%3DIRS> to make that information available to investigators.

See the page for instructions on what to do if you receive a suspicious IRS-related communication.

The IRS Asks for Volunteers
The IRS is looking for volunteers to help prepare tax returns for low income and elderly taxpayers in this new YouTube video<http://www.youtube.com/watch?v=E98kSoy892M>.

Recent Articles from e-News for Small Businesses

Tax centers make finding information easy
IRS.gov tax centers<http://links.govdelivery.com/track?type=click&enid=ZWFzPTEmbWFpbGluZ2lkPTIwMTExMTA5LjM4NTY3ODEmbWVzc2FnZWlkPU1EQi1QUkQtQlVMLTIwMTExMTA5LjM4NTY3ODEmZGF0YWJhc2VpZD0xMDAxJnNlcmlhbD0xNjc4MDM0NSZlbWFpbGlkPWthcmkucy5naWxqZUBpcnMuZ292JnVzZXJpZD1rYXJpLnMuZ2lsamVAaXJzLmdvdiZmbD0mZXh0cmE9TXVsdGl2YXJpYXRlSWQ9JiYm&&&124&&&http://www.irs.gov/businesses/small/industries/index.html> offer industry specific information in one location.

Your rights as a taxpayer
The Taxpayer Rights Corner<http://links.govdelivery.com/track?type=click&enid=ZWFzPTEmbWFpbGluZ2lkPTIwMTExMTA5LjM4NTY3ODEmbWVzc2FnZWlkPU1EQi1QUkQtQlVMLTIwMTExMTA5LjM4NTY3ODEmZGF0YWJhc2VpZD0xMDAxJnNlcmlhbD0xNjc4MDM0NSZlbWFpbGlkPWthcmkucy5naWxqZUBpcnMuZ292JnVzZXJpZD1rYXJpLnMuZ2lsamVAaXJzLmdvdiZmbD0mZXh0cmE9TXVsdGl2YXJpYXRlSWQ9JiYm&&&122&&&http://www.irs.gov/advocate/article/0,,id=98206,00.html> is a one-stop resource for taxpayer rights information.

IRS Explains Flexible Spending Arrangements for 2012
This new YouTube video<http://links.govdelivery.com/track?type=click&enid=ZWFzPTEmbWFpbGluZ2lkPTIwMTExMTEwLjM4NzcxMDEmbWVzc2FnZWlkPU1EQi1QUkQtQlVMLTIwMTExMTEwLjM4NzcxMDEmZGF0YWJhc2VpZD0xMDAxJnNlcmlhbD0xNjc4MTM4OCZlbWFpbGlkPWthcmkucy5naWxqZUBpcnMuZ292JnVzZXJpZD1rYXJpLnMuZ2lsamVAaXJzLmdvdiZmbD0mZXh0cmE9TXVsdGl2YXJpYXRlSWQ9JiYm&&&167&&&http://www.youtube.com/watch?v=02msbF9jtKE>  describes a change in the law that affects flexible spending arrangements for next year.
Watch this and other videos on the IRS YouTube Channel<http://links.govdelivery.com/track?type=click&enid=ZWFzPTEmbWFpbGluZ2lkPTIwMTExMTEwLjM4NzcxMDEmbWVzc2FnZWlkPU1EQi1QUkQtQlVMLTIwMTExMTEwLjM4NzcxMDEmZGF0YWJhc2VpZD0xMDAxJnNlcmlhbD0xNjc4MTM4OCZlbWFpbGlkPWthcmkucy5naWxqZUBpcnMuZ292JnVzZXJpZD1rYXJpLnMuZ2lsamVAaXJzLmdvdiZmbD0mZXh0cmE9TXVsdGl2YXJpYXRlSWQ9JiYm&&&168&&&http://www.youtube.com/irsvideos>.