Inside This Issue
IRS Waives Estimated Tax Penalty for Farmers, Fishermen
Who File and Pay by April 15
Registration Now Open for the 2019 IRS Nationwide Tax
Section 162(q) FAQ Posted
Traveling? Resolve Tax Debt Before Getting Your Passport
Interest Rates Unchanged for Second Quarter of 2019
APMA Program "Functional Cost Diagnostic"
Model Now Available
1. IRS Waives Estimated
Tax Penalty for Farmers, Fishermen Who File and Pay by April 15
IRS will waive the estimated tax penalty for clients who are qualifying
farmers or fishermen if their 2018 federal income tax returns are filed and
taxes due are paid by April 15. The deadline is April 17 for clients
residing in Maine or Massachusetts.
qualify for the waiver, attach Form 2210-F, available
to a 2018 income tax return. The Instructions for Form 2210
have been revised, and further details can be found in Notice 2019-17.
2. Registration Now Open
for the 2019 IRS Nationwide Tax Forums
Registration for the
2019 IRS Nationwide Tax Forums is now open. The Tax Forums will be held in
five cities across the United States:
- National Harbor, Md. (near
Washington, DC), July 9 – 11
- Chicago, July 23 – 25
- New Orleans, Aug. 6 – 8
- Orlando, Aug. 13 – 15
- San Diego, Sept. 17 – 19
by June 15 to take advantage of the Early Bird Rate of $235. Visit www.irstaxforum.com for
3. Section 162(q) FAQ
IRS has posted an FAQ
addressing the deductibility of attorney fees for a settlement or payment,
when the settlement or payment is related to a sexual harassment or sexual
abuse claim and is subject to a nondisclosure agreement.
4. Traveling? Resolve Tax
Debt Before Getting Your Passport
may not be able to renew a current passport or obtain a new one if they owe
federal taxes, the IRS stated this week.
Individuals should take prompt action to resolve tax issues to avoid delays
in travel plans.
5. Interest Rates
Unchanged for Second Quarter of 2019
rates will hold steady in the calendar quarter beginning April 1, 2019, the
IRS announced this week.
The rates are:
- 6 percent for overpayments (5
percent in the case of a corporation)
- 3.5 percent for the portion of a
corporate overpayment exceeding $10,000
- 6 percent for underpayments
- 8 percent for large corporate
Revenue Ruling 2019-05
announcing the rates of interest will appear in Internal Revenue Bulletin
6. APMA Program
"Functional Cost Diagnostic" Model Now Available
professionals may now obtain an Excel workbook they may be asked to
complete during the Advanced Pricing Agreement (APA) process. The workbook,
available from the IRS Advance Pricing and Mutual
Agreement Program (APMA), guides the user through various
“functional” cost entries that a controlled taxpayer incurs for activities
surrounding core functions within the scope of a proposed APA.
professionals who want the Excel workbook should e-mail a request to firstname.lastname@example.org and include
“FCD Model Request” on the subject line.