|
1. File Now, Pay Later
Avoid the stress of filing your tax return at the eleventh hour. Get tips to help beat the crush of the April 15 deadline. Need more time? File an extension. All the info is at http://www.irs.gov/newsroom/article/0,,id=108441,00.html .
2. Deadline Nears for Offshore Tax Evaders
April 15 is the last chance for penalty relief. For those who duck the deadline, there's a higher price to be paid later. Find out how you can participate in the Offshore Voluntary Compliance Initiative. Go to http://www.irs.gov/newsroom/article/0,,id=108117,00.html .
3. Armed Forces Tax Benefits
Several tax law provisions benefit active members of the U.S. Armed Forces, especially those serving in combat areas. Those who qualify get some or all of their military pay tax free, and they have extra time to file returns. Details are at http://www.irs.gov/newsroom/article/0,,id=97273,00.html .
4. Tax Relief for Disaster Areas
Trying to recover financially from the impact of a disaster? Special tax relief provisions for taxpayers in disaster areas, including victims of terrorist attacks, may help, especially when the President declares the location to be a major disaster area. For more on disaster relief and links to news by state, go to http://www.irs.gov/newsroom/article/0,,id=108362,00.html .
5. Latest Technical Guidance
Notice 2003-18 provides guidance on the tax treatment of grant payments the Empire State Development Corporation and the New York City Economic Development Corporation will make to businesses located in or near the area of the World Trade Center. http://www.irs.gov/pub/irs-drop/n-03-18.pdf
Notice 2003-19 advises taxpayers of the proper address for filing certain elections, statements, and other documents with the Service as a result of the reorganization. http://www.irs.gov/pub/irs-drop/n-03-19.pdf
Revenue Procedure 2003-26 provides guidance to individuals who failed to meet the eligibility requirements of IRC 911(d)(1) because adverse conditions in a foreign country precluded the individual from meeting those requirements for 2002. http://www.irs.gov/pub/irs-drop/rp-03-26.pdf
Revenue Ruling 2003-32 deals with education grants made by a private foundation under an employer-related program to employees or their children when the employee has been the victim of a qualified disaster. http://www.irs.gov/pub/irs-drop/rr-03-32.pdf
Revenue Ruling 2003-35 describes the applicable federal rates for April 2003. http://www.irs.gov/pub/irs-drop/rr-03-35.pdf
Revenue Ruling 2003-37 deals with the tax treatment of rotable spare parts, consistent with the court decisions in the Hewlett Packard and Honeywell cases. This ruling also requests comments on issues to be addressed in a future revenue procedure on this subject. Comments should be submitted by May 23, 2003. http://www.irs.gov/pub/irs-drop/rr-03-37.pdf
|
