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IRS Announces Three-Month Filing, Payment Extension

1.  IRS Announces Three-Month Filing, Payment Extension following Boston Marathon Explosions

The Internal Revenue Service announced a three-month tax filing and payment extension to Boston area taxpayers and others affected by Monday s explosions.

2.  Penalty Relief Available to Some Storm Victims Unable To File On Time

The Internal Revenue Service will provide penalty relief to anyone unable to file on time due to severe storms in parts of the South and Midwest over the past few days.

3.  YouTube: IRS Withholding Calculator

Now that filing season is over, do you have clients who had too much or too little tax taken out of their paychecks? If so, refer them to this new YouTube video about using the IRS withholding calculator.

Watch this and other videos on the IRS YouTube Channel.

4.  May 13 Phone Forum: What You Need to Know About the IRS Final 401(k) Questionnaire Report and Next Steps

Earn continuing education credit in this May 13 Phone Forum. The 401(k) Compliance Check Questionnaire Final Report covers plan form and operational issues compiled from data provided by 401(k) plan sponsors. IRS experts will highlight significant findings and next steps, including outreach, guidance and compliance projects. They ll also discuss a new self-audit tool to help 401(k) plan sponsors avoid costly mistakes. If you have a specific matter that you would like addressed in the forum, send an email by May 6.

5.  Technical Guidance

Revenue Ruling 2013-11 provides various prescribed rates for federal income tax purposes including the applicable federal interest rates, the adjusted applicable federal interest rates, the adjusted federal long-term rate, the adjusted federal long-term tax-exempt rate. These rates are determined as prescribed by 1274.

The rates are published monthly for purposes of sections 42, 382, 412, 1288, 1274, 7520, 7872, and various other sections of the Internal Revenue Code.

Revenue Ruling 2013-11 will be published in Internal Revenue Bulletin 2013-20 dated May 13, 2013.