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e-News for Tax Professionals

March 1, 2019

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Issue Number:  2019-05

Inside This Issue

1.     IRS Waives Estimated Tax Penalty for Farmers, Fishermen Who File and Pay by April 15

2.     Registration Now Open for the 2019 IRS Nationwide Tax Forums

3.     Section 162(q) FAQ Posted

4.     Traveling? Resolve Tax Debt Before Getting Your Passport

5.     Interest Rates Unchanged for Second Quarter of 2019

6.     APMA Program "Functional Cost Diagnostic" Model Now Available


1.  IRS Waives Estimated Tax Penalty for Farmers, Fishermen Who File and Pay by April 15


The 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.

To qualify for the waiver, attach Form 2210-F, available on IRS.gov, 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

Register by June 15 to take advantage of the Early Bird Rate of $235. Visit www.irstaxforum.com for more information.


3.  Section 162(q) FAQ Posted


The 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


Individuals 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


Interest 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 underpayments

Revenue Ruling 2019-05 announcing the rates of interest will appear in Internal Revenue Bulletin 2019-11.


6.  APMA Program "Functional Cost Diagnostic" Model Now Available


Tax 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. 

Tax professionals who want the Excel workbook should e-mail a request to lbi.ttpo.apma.feedback@irs.gov and include “FCD Model Request” on the subject line.