IRS Warns Tax Forms Needed Prior to Military Deployment: Being shipped off to active duty overseas does not exempt the military from tax obligations, which is why the Internal Revenue Service and the National Association of Tax Professionals are reminding soldiers to sign a power of attorney -- IRS Form 2848 -- before they leave.
Form 2848 enables a spouse to sign the return, easing the way for trouble-free filing. The IRS is more likely to recognize Form 2848, thus alleviating any questions or refund delays.
The NATP is a nonprofit professional association serving professionals who work in all areas of tax practice.
Grant Thornton Proposes Top 10 Tax Fixes: Grant Thornton and the Independent Community Bankers of America have come up with a Top 10 list for tax simplification.
In a 50-page report commissioned by the ICBA, Grant Thornton recommends the creation of a new Universal Freedom savings account, offering tax relief on individual interest and dividend income, improving small business expensing, providing tax relief for long-term deposits, permanent repeal of the estate tax with an increase of the fair-market value allowance at date of death, tax relief to boost small business lending, and giving new ways for local governments to access cost-efficient funding.
The study also advocates improved retirement and education provisions, liberalizing S corporation rules and the creation of a national limited liability company bank charter.
Paper Filers Reminded to Send Tax Forms to New Address: Tax preparers in 16 states should advise clients that they need to send their tax returns to a different Internal Revenue Service Center this year.
During 2003, for taxpayers in Mississippi, the address is Internal Revenue Service Center, Atlanta, Ga. 39901. For taxpayers in Maine, New Hampshire and Vermont, the address is Internal Revenue Service Center, Andover, Mass. 05501. And for taxpayers in Indiana, Nebraska, North Dakota and South Dakota, the address is Internal Revenue Service Center, Kansas City, Mo. 64999.
For taxpayers in New Jersey, the address is Internal Revenue Service Center, Philadelphia, Pa. 19255. For taxpayers in Kentucky, Louisiana and Oklahoma, the address is Internal Revenue Service Center, Austin, Texas 73301. For taxpayers in Arizona, Idaho and Washington, the address is Internal Revenue Service Center, Fresno, Calif. 93888. And for taxpayers in Ohio, the address is Internal Revenue Service Center, Memphis Tenn. 37501.
Taxpayers enclosing a check should add "-0102" to the zip code listed above if sending a Form 1040, "-0115" for Form 1040A, or "-0114" for Form 1040EZ. Those not enclosing a check should add "-0002" if sending a Form 1040, "-0015" for Form 1040A, or "-0014" for Form 1040EZ.
IRS.gov Adds Subscription Services for Tax Pros, Media: Tax professionals, small business owners and the media are the target for the latest changes to the new IRS.gov e-subscription services, which include expanded tax news, fact sheets, and up-to-the-minute reports on the tax and accounting world.
Subscribers to the e-service lists will now get timely, specialized information sent via e-mail on topics such as state practitioner meetings, news releases, filing season tax tips and other programs.
Here is a peek at some of the expanded services:
- E-News for Tax Professionals: The new electronic newsletter for tax practitioners and others provides consolidated and localized information available on a state-by-state basis.
- IRS Newswire: For the first time, IRS news releases and fact sheets are available as soon as the IRS publicly issues them.
- IRS Digital Dispatch: This provides national tax news and recent information. These are regularly issued every other week or when special events warrant a special edition.
- IRS Tax Tips: This series is also available for direct e-mail subscriptions for the first time. Tax Tips cover topics such as free tax help, child tax credits, educator expenses, car donations and other topics.
To learn more about these and several other expanded subscription services, visit The Newsroom at www.irs.gov .
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