IRS Issues Summer 2007 Statistics of Income Bulletin IR-2007-153, Aug. 31, 2007 — The summer Bulletin features data from 21.5 million individual income tax returns that reported non-farm sole proprietorship activity in tax year 2005. IRS Announces Closing Agreement Program for Forward-Float Agreements Used with Municipal Bonds IR-2007-152, Aug. 30, 2007 — The Internal Revenue Service today announced a new Voluntary Closing Agreement Program (VCAP) to address violations of federal tax law on arbitrage investment restrictions. The violations are related to non-fair market value purchases of forward-float investment agreements used in advance refundings of tax-exempt municipal bonds. Honda Hybrids Still Qualify for Tax Credit 1 IR-2007-151, August 28, 2007 — The IRS announced that purchasers of American Honda Motor Company, Inc., qualified vehicles may continue to claim the Alternative Motor Vehicle Credit. GM Hybrids Still Qualify for Tax Credit 1 IR-2007-150, Aug. 28, 2007 — The IRS announced that purchasers of qualified General Motors Corp. hybrid vehicles may continue to claim the Alternative Motor Vehicle Credit. IRS Picks New Members of Leadership Team; Byrd, Gonzalez, Ng, Watson Take New Roles IR-2007-149, August 28, 2007 – The IRS announced today the selection of four people to key leadership posts across the tax agency. IRS Warns of New E-mail Scam Offering Cash for Participation in “Member Satisfaction Survey” IR-2007-148, Aug. 28, 2007 — The Internal Revenue Service does not initiate contact with taxpayers through e-mail. Nissan Hybrid Still Qualifies for Tax Credit 1 IR-2007-147, August 23, 2007 — The IRS announced that purchasers of qualified Nissan North America Inc. vehicles may continue to claim the Alternative Motor Vehicle Credit. Corporate Use of e-File Up as Deadline Approaches IR-2007-146, August 23, 2007 — As the Sept. 17 deadline approaches for calendar year filers of corporate returns who filed for extensions, the IRS urges certain corporate filers to be aware of their obligation to file electronically. Stephen Larson Named Acting Associate Chief Counsel, Financial Institutions and Products IR-2007-145, Aug. 22, 2007 — The Office of Chief Counsel for the IRS announced the assignment of Stephen Larson, former Acting General Counsel of the Treasury Department, to the position of Acting Associate Chief Counsel, Financial Institutions and Products. Phone Customers Can Still Request Excise Tax Refund, IRS Says IR-2007-144, Aug. 21, 2007 — Telephone customers can still request this year’s one-time excise tax refund, according to the IRS. Treasury, IRS Issue Guidance on Transactions of Interest IR-2007-143, Aug. 14, 2007 — The Treasury Department and the IRS issued two notices that identify as transactions of interest certain transactions involving “toggling” grantor trusts and certain transactions involving contributions of a successor member interest in a limited liability company. New Rule Will Not Affect Teacher Salaries in Upcoming School Year IR-2007-142, Aug. 7, 2007 — IRS has received inquiries from teachers who had been told that they had to make certain decisions about their pay this month. IRS Seeks New Issues for Industry Issue Resolution Program IR-2007-141, Aug. 6, 2007 — Business associations and business taxpayers may submit tax issues that meet certain criteria to the Industry Issue Resolution Program for consideration. Purchasers of Ford Hybrids Still Qualify for Tax Credit 1 IR-2007–140, Aug, 6 , 2007 — The IRS announced that purchasers of qualified Ford Motor Company vehicles may continue to claim the Alternative Motor Vehicle Credit. Phase-Out Credit for Toyota and Lexus Hybrids Continues With Reporting of Second Quarter Sales IR-2007-139, Aug. 6, 2007 — After reviewing the second quarter 2007 sales of Toyota Motor Sales USA Inc., the Internal Revenue Service announced that purchasers of qualifying Toyota and Lexus vehicles may continue to claim the Alternative Motor Vehicle Credit. IRS Seeks Comments on Updates to Corporate and Partnership Tax Forms IR-2007-138, Aug. 2, 2007 — Released for public comment and discussion are draft revisions to Form 1065 and Form 1120. Comments are due by Sept. 14, 2007. Treasury, IRS Release Report on Improving Voluntary Compliance IR-2007-137, Aug. 2, 2007 — The Treasury Department and the IRS released an IRS report addressing the agency’s implementation of the 2006 strategy to improve voluntary compliance with federal tax laws and narrow the tax gap. George Blaine Named Associate Chief Counsel, Income Tax & Accounting IR-2007-136, Aug. 1, 2007 — The Associate Chief Counsel, ITA, provides legal advice regarding federal tax matters involving tax accounting and other issues. Summertime Tax Tips Available on IRS.gov and via E Mail 1 IR-2007-135, Aug. 1, 2007 — Sign up to get Summertime Tax Tips sent automatically to your e-mail. News release and fact sheet archive Find previous year news releases and fact sheets from 1997 through last month.
