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e-News for Tax Professionals

February 22, 2019

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Issue Number:  2019-04

Inside This Issue

  1. Nationwide Tax Forum Registration Opens March 1
  2. Businesses: e-File Cash Transaction Reports
  3. Deadline Approaching for Farmers and Fisherman
  4. Refundable Credits Due Diligence Training Now Available
  5. Weekend Scheduled Maintenance of Modernized e-File

1.  Nationwide Tax Forum Registration Opens March 1


Mark your calendar: Registration for the 2019 IRS Nationwide Tax Forums opens one week from today, on March 1. Forum dates and locations this year are July 9-11, National Harbor (Washington, D.C.); July 23-25, Chicago; Aug. 6-8, New Orleans; Aug. 13-15, Orlando; and Sept. 17-19, San Diego.


2.  Businesses: e-File Cash Transaction Reports


The IRS urges businesses that file reports of large cash transactions to take advantage of e-file. Federal law requires reporting of cash transactions of more than $10,000 on IRS Form 8300. The information on the form helps law enforcement combat money laundering, tax evasion, drug dealing, terrorist financing and other criminal activities.

For more information about the reporting requirement, see FS-2019-1 on IRS.gov.


3.  Deadline Approaching for Farmers and Fisherman


Farmers and fisherman who did not make quarterly tax payments may face a March 1 tax deadline.

The following information can help you serve these clients:

  • Fact sheet - What’s new for farmers in 2018
  • Tax tip  - How tax reform affects farmers and ranchers
  • Tax tip - How tax reform changes to depreciation deduction affect farmers’ bottom line


4.  Refundable Credits Due Diligence Training Now Available


The updated Tax Year 2018 Due Diligence Training module is now available. The revised training includes tax law changes from the Tax Cuts and Jobs Act of 2017 that affect due diligence requirements, and it may qualify for one continuing education credit. The Spanish version of this training will be available within 60 days.

For updates and more information, visit the tax preparer toolkit on IRS.gov.


5.  Weekend Scheduled Maintenance of Modernized e-File


The Modernized e-file (MeF) production and test environments will be unavailable on Feb. 24, from 1:00 a.m. – 11:00 a.m. EST. The IRS will perform maintenance on the systems during this time.