e-News for Tax Professionals Issue Number: 2018-36

Bookmark and Share

IRS.gov Banner
e-News for Tax Professionals September 7, 2018

Useful Links:


Tax Professionals Home

All Forms and Instructions

Stakeholders Partners'

Training and
Communication Tools



Taxpayer Advocate Service

Disaster Relief

Internal Revenue Bulletins

IRS Social Media

Upcoming Events

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

Nationwide Webinars

District of Columbia

New Hampshire
New Jersey
New Mexico
New York
North Carolina

North Dakota
Rhode Island
South Carolina
South Dakota
West Virginia

Back to top

Issue Number:  2018-36

Inside This Issue

  1. Paycheck Checkup: Estimated Taxes Web Conference on Sept. 11
  2. Preview New e-Services User Agreement
  3. Protect Your Clients, Protect Yourself: Remain Alert to Signs of Client Data Theft
  4. Final Nationwide Tax Forum of 2018 Next Week in Orlando
  5. Payments Under State or Local Tax Credit Programs May be Deductible as Business Expenses
  6. Offshore Voluntary Compliance Program Ends Sept. 28
  7. Technical Guidance

1.  Paycheck Checkup: Estimated Taxes Web Conference on Sept. 11

Register for an IRS web conference on estimated taxes next Tuesday, Sept. 11, at 11 a.m. EST. The 60-minute web conference is part of the Paycheck Checkup campaign and will discuss: 

  • Ways to pay taxes: Withholding and estimated taxes
  • "Paycheck Checkup": IRS' online Withholding Calculator
  • Who must make estimated tax payments and payment due dates
  • Electronic Federal Tax Payment System (EFTPS) and Direct Pay
  • Ways to avoid the estimated tax penalty
  • Resources to help meet federal tax payment requirements

To register, visit https://www.webcaster4.com/Webcast/Page/1148/27314.

Back to top

2.  Preview New e-Services User Agreement

Beginning Oct. 14, e-Services users, after entering their accounts, will see a pop-up asking them to accept the terms of the updated user agreement. The IRS strongly encourages e-Service users to read this content and be ready to accept its terms when asked, as these changes will improve security for users.

To review the agreement, see Preview Updated e-Services User Agreement; Launch Set for October 14 or visit www.irs.gov/eservices.


Back to top

3.  Protect Your Clients, Protect Yourself: Remain Alert to Signs of Client Data Theft

In the ninth installment of the Tax Security 101 series, the IRS and its Security Summit partners urge tax professionals to be alert to subtle signs of data theft, noting cases where practitioners are victims of theft and don't even know it. The IRS and its Security Summit partners have created a list of warning signs that an office may have experienced a data theft.

To review the list of warning signs, visit "Protect Your Clients; Protect Yourself: Tax Security 101." 

Back to top

4.  Final Nationwide Tax Forum of 2018 Next Week in Orlando

The final IRS Nationwide Tax Forum of the year begins in Orlando next week. The Orlando tax forum will be the last opportunity for tax professionals to participate in this year's educational series and hear directly from the IRS on tax reform, cybersecurity and more.  

Registered attendees can log in to check their information and download the training materials now. For more information or to register, visit the IRS Nationwide Tax Forum website.

Back to top

5.  Payments Under State or Local Tax Credit Programs May Be Deductible as Business Expenses

If you have clients who make business-related payments to charities or government entities for which they receive state or local tax credits, they can generally deduct the payments as business expenses. The IRS clarified that this general deductibility rule is unaffected by the recent notice of proposed rulemaking on the availability of a charitable contribution deduction for contributions under such programs.

For more information or to review updates on the implementation of the Tax Cuts and Jobs Act (TCJA), please visit the Tax Reform page of IRS.gov.

Back to top

6.  Offshore Voluntary Compliance Program Ends Sept. 28

The Offshore Voluntary Disclosure Program (OVDP) will end on Sept. 28, the IRS announced this week. But taxpayers with undisclosed offshore accounts will still be held accountable after the program closes.

Full details of the options available for U.S. taxpayers with undisclosed foreign financial assets can be found on IRS.gov.

Back to top

7.  Technical Guidance 

Revenue Procedure 2018-36 adds two countries – Argentina and Moldova – to the list of countries with which the United States has in force an information exchange agreement such that interest paid to residents of such jurisdictions must be reported by payors to the extent required under Treasury Regulation sections 1.6049-8(a) and 1.6049-4(b)(5). This revenue procedure also adds one jurisdiction, Greece, to the list of jurisdictions with which Treasury and the IRS have determined that it is appropriate to have an automatic exchange relationship with respect to bank deposit interest income information under those regulatory provisions. 

Revenue Procedure 2018-47 provides excise tax relief for certain regulated investment companies that have inclusions under section 951(a)(1) of the Internal Revenue Code by reason of section 965 for the excise tax year ended on Dec. 31, 2017.

Back to top


FaceBook Logo     Twitter Logo     LinkedIn Logo     YouTube Logo     IRS2go Logo

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 page on the IRS Web site.


This email was sent to cetinkayaadem.news@blogger.com by: Internal Revenue Service (IRS) · Internal Revenue Service · 1111 Constitution Ave. N.W. · Washington DC 20535 GovDelivery logo
We work across the world

From London to San Francisco, to our home base in (Saint Helier) Jersey, we’re looking for extraordinary and creative scientists to help us drive the field forward.

Disclaimers: AC Investment Inc. currently does not act as an equities executing broker or route orders containing equities securities. All data and information is provided “as is” for personal informational purposes only, and is not intended for trading purposes or advice. Please consult your broker or financial representative to verify pricing before executing any trade.

77 Massachusetts Avenue Cambridge, MA 02139 617-253-1000 pr@ademcetinkaya.com