[OSSSA218] Updates

[Karen PARK]

Good morning,

Don't miss out on the OSSSA/IRS/SSA training next week in Portland. 

Cost - Free
When - May 18 & 19 - 8:30 to 4;30
Where - Portland near Lloyd Center

And no, it is not necessary to attend both days.

For more information contact Karen Park (that's me) karen.park at state.or.us or 503 603-7633.



Must reads........

IRS Releases Interim Report on Nonprofit Colleges and Universities Compliance Project
 
IR-2010-58, May 7, 2010
WASHINGTON — The Internal Revenue Service today released an interim report summarizing responses to compliance questionnaires sent to 400 public and private colleges and universities in October 2008. Colleges and universities make up one of the largest nonprofit segments in terms of revenue and assets.
The interim report contains preliminary information on the respondents’ organizational structures, demographics, exempt and unrelated business activities, endowments, executive compensation as well as governance practices. Respondents are divided into three groups based on size of student population.
“This compliance project, like our previous one on nonprofit hospitals, gives us a lot of valuable information on activities conducted by those organizations that will help us in our enforcement and services efforts,” said Lois Lerner, Director of the IRS Exempt Organizations.  “Our findings will be reported in a final report after we have completed our analysis of all of the data.”
The IRS continues to analyze the data. Responses to most questions are included in the interim report. Responses to certain questions are not included because the IRS has not yet completed compiling the information.  Additional information will be included in a final report.
The IRS has opened examinations of more than 30 organizations that were selected based on responses to the questionnaire. These examinations focus primarily on unrelated business income and executive compensation issues.  A summary of findings and information learned from the examinations will also be included in the final report.
HIRE Act Employment Tax Incentive
 
The Hiring Incentives to Restore Incentives (HIRE) Act created an exemption from the employer share of social security (OASI) tax on wages paid by employers to previously unemployed individuals after February 3, 2010, and before January 1, 2011. In general, government employers are not eligible for this benefit; however, it is available to some public institutions of higher education. For more information, please visit the IRS newsroom.


Page Last Reviewed or Updated: May 06, 2010


Bond Attorney Suspended for 24 Months
 
IR-2010-57, May 5, 2010
WASHINGTON — The Internal Revenue Service has accepted an offer of consent to suspension from bond attorney Michael W. McCall. Under the terms of the settlement agreement, McCall will be suspended from practice before the IRS for at least 24 months for writing a false tax opinion. Thereafter, he may petition for reinstatement.
“Practitioners have a duty to their clients, the system, and the municipal finance bond community to ensure that the tax advice they are giving their clients complies with the law and is complete and accurate,” IRS Office of Professional Responsibility (OPR) Director Karen L. Hawkins said.
McCall was engaged by a state of Washington county municipal sewer district to act as co-bond counsel and special tax counsel to write an opinion as to the tax-exempt status of the district bonds issued in October 2000 and to perform due diligence with respect to certain transactional matters relating to the bond issuance. The district issued the bonds for its utility local improvement district for a proposed commercial development. The bonds were issued in violation of state law as the utility local improvement district was located outside of the sewer district boundaries.  The bonds defaulted and have been determined to be invalid.
The OPR alleged that McCall’s opinion on the tax-exempt status of the district bonds was false under Circular 230, Section 10.51(j), and that McCall's opinion on certain transactional matters was also false under Section 10.51(j).  In addition, the OPR alleged that McCall failed to perform due diligence under Circular 230, section 10.22, with respect to transactional matters related to the bond issuance, including an undisclosed payment to him from bond proceeds received by the developer.
Following an OPR investigation, McCall admitted to violations of Circular 230 for giving false opinions, knowingly, recklessly, or through gross incompetence (Treasury Department Circular 230, Section 10.51(j) (2000)), and for failing to exercise due diligence (Treasury Department Circular 230, Section 10.22 (2000)).
 
The settlement agreement included a disclosure authorization that allowed the IRS to issue this release.

IRS Seeks Applications for Advisory Council
 
IR-2010-56, May 3, 2010
WASHINGTON — The Internal Revenue Service today announced it is accepting applications for new members for the Internal Revenue Service Advisory Council (IRSAC), which provides a forum for IRS officials to discuss key areas of tax administration with a broad range of tax and other relevant professionals.
“Members of IRSAC provide the IRS with important feedback from a wide range of professionals dealing with many different aspects of our tax system,” said Doug Shulman, IRS Commissioner. “IRSAC members are doing their part to support sound tax administration.”
IRSAC has about 20 open seats for three-year terms starting in January 2011. IRSAC can have up to 35 members and submits a report to the IRS Commissioner annually at a public meeting in the fall. Applications will be accepted from May 3 to June 18, 2010.
Nominations of qualified individuals may come from individuals or organizations.  Federally registered lobbyists cannot be members of the IRSAC. IRSAC members are drawn from diverse backgrounds. Membership is balanced to represent the tax professional community, including tax attorneys, certified public accountants, enrolled agents, enrolled actuaries, appraisers, and the business community, among others.
Nominations should describe and document the proposed member’s qualification for IRSAC membership, including the applicant’s knowledge of Circular 230 regulations and the applicant’s past or current affiliations, as well as dealings with the particular tax segment or segments of the community that the applicant wishes to represent on the council.
More information, including application requirements, is available on the Tax Professional’s Page on IRS.gov. Questions about the application process can be sent to the following e-mail address:  *public_liaison at irs.gov.








Karen Park

Oregon State Social Security Coordinator
Oregon PERS
503 603-7633
karen.park at state.or.us

SL2

Please note my office hours are Monday thru Thursday 6 am to 4:30 pm


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