News Releases for August 2007

IR-2007-153, Aug. 31, 2007 — The summer Bulletin features data from 21.5 million individual income tax returns that reported non-farm sole proprietorship activity in tax year 2005.

IR-2007-152, Aug. 30, 2007 — The Internal Revenue Service today announced a new Voluntary Closing Agreement Program (VCAP) to address violations of federal tax law on arbitrage investment restrictions. The violations are related to non-fair market value purchases of forward-float investment agreements used in advance refundings of tax-exempt municipal bonds.

IR-2007-151, August 28, 2007 — The IRS announced that purchasers of American Honda Motor Company, Inc., qualified vehicles may continue to claim the Alternative Motor Vehicle Credit.

IR-2007-150, Aug. 28, 2007 — The IRS announced that purchasers of qualified General Motors Corp. hybrid vehicles may continue to claim the Alternative Motor Vehicle Credit.

IR-2007-149, August 28, 2007 – The IRS announced today the selection of four people to key leadership posts across the tax agency.

IR-2007-148, Aug. 28, 2007 — The Internal Revenue Service does not initiate contact with taxpayers through e-mail.

IR-2007-147, August 23, 2007 — The IRS announced that purchasers of qualified Nissan North America Inc. vehicles may continue to claim the Alternative Motor Vehicle Credit.

IR-2007-146, August 23, 2007 — As the Sept. 17 deadline approaches for calendar year filers of corporate returns who filed for extensions, the IRS urges certain corporate filers to be aware of their obligation to file electronically.

IR-2007-145, Aug. 22, 2007 — The Office of Chief Counsel for the IRS announced the assignment of Stephen Larson, former Acting General Counsel of the Treasury Department, to the position of Acting Associate Chief Counsel, Financial Institutions and Products.

IR-2007-144, Aug. 21, 2007 — Telephone customers can still request this year’s one-time excise tax refund, according to the IRS.

IR-2007-143, Aug. 14, 2007 — The Treasury Department and the IRS issued two notices that identify as transactions of interest certain transactions involving “toggling” grantor trusts and certain transactions involving contributions of a successor member interest in a limited liability company.

IR-2007-142, Aug. 7, 2007 — IRS has received inquiries from teachers who had been told that they had to make certain decisions about their pay this month.

IR-2007-141, Aug. 6, 2007 — Business associations and business taxpayers may submit tax issues that meet certain criteria to the Industry Issue Resolution Program for consideration.

IR-2007–140, Aug, 6 , 2007 — The IRS announced that purchasers of qualified Ford Motor Company vehicles may continue to claim the Alternative Motor Vehicle Credit.

IR-2007-139, Aug. 6, 2007 — After reviewing the second quarter 2007 sales of Toyota Motor Sales USA Inc., the Internal Revenue Service announced that purchasers of qualifying Toyota and Lexus vehicles may continue to claim the Alternative Motor Vehicle Credit.

IR-2007-138, Aug. 2, 2007 — Released for public comment and discussion are draft revisions to Form 1065 and Form 1120. Comments are due by Sept. 14, 2007.

IR-2007-137, Aug. 2, 2007 — The Treasury Department and the IRS released an IRS report addressing the agency’s implementation of the 2006 strategy to improve voluntary compliance with federal tax laws and narrow the tax gap.

IR-2007-136, Aug. 1, 2007 — The Associate Chief Counsel, ITA, provides legal advice regarding federal tax matters involving tax accounting and other issues.

IR-2007-135, Aug. 1, 2007 — Sign up to get Summertime Tax Tips sent automatically to your e-mail.

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