Monthly Archives: September 2010

IRS Provides Relief for Homeowners with Corrosive Drywall

WASHINGTON — The Internal Revenue Service today issued guidance providing relief to homeowners who have suffered property losses due to the effects of certain imported drywall installed in homes between 2001 and 2009. Revenue Procedure 2010-36 enables affected taxpayers to … Continue reading

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IRS Issues Guidance on Expanded Adoption Credit Available for Tax-Year 2010

WASHINGTON — The Internal Revenue Service today issued guidance on the expanded adoption credit included in the Affordable Care Act. The IRS also released a draft version of the form that eligible taxpayers will use to claim the newly-expanded adoption … Continue reading

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New Online Registration System for Paid Tax Return Preparers Is Now Available

WASHINGTON — As part of an initiative to ensure that tax return preparers are competent and qualified, the Internal Revenue Service today issued final regulations requiring paid tax return preparers to register with the IRS to obtain a Preparer Tax … Continue reading

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Prepared Remarks of IRS Commissioner Doug Shulman to the American Bar Association

WASHINGTON — Following is a speech delivered by IRS Commissioner Doug Shulman today in Toronto, Canada. (See links to related materials at end of this document.) It is my great honor and privilege to be in Toronto addressing the ABA. … Continue reading

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IRS to Hold Special Open House Saturday, Sept. 25 for Veterans and Persons with Disabilities

WASHINGTON — The Internal Revenue Service will host a special nationwide open house on Saturday, Sept. 25 to help taxpayers –– especially veterans and people with disabilities –– solve tax problems and respond to IRS notices. One hundred offices, at … Continue reading

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IRS Releases Form to Help Small Businesses Claim New Health Care Tax Credit

WASHINGTON –– The Internal Revenue Service today released a draft version of the form that small businesses and tax-exempt organizations will use to calculate the small business health care tax credit when they file income tax returns next year. The … Continue reading

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IRS Issues Guidance Explaining 2011 Changes to Flexible Spending Arrangements

WASHINGTON — The Internal Revenue Service today issued guidance reflecting statutory changes regarding the use of certain tax-favored arrangements, such as flexible spending arrangements (FSAs), to pay for over-the-counter medicines and drugs. The Affordable Care Act, enacted in March, established … Continue reading

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Summer 2010 Statistics of Income Bulletin Now Available

WASHINGTON — The Internal Revenue Service announced availability of the summer 2010 issue of the Statistics of Income Bulletin, which features sole proprietorship data for tax year 2008. About 23 million individual income tax returns reported at least one nonfarm … Continue reading

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