IRS ISSUES NEW GUIDANCE FOR TAX FILINGS
Tax Package Mailing for Individuals to End Following Growth of e-File Individual and business taxpayers will no longer receive paper income tax packages in the mail from the IRS. These tax packages contained the forms, schedules and instructions for filing a paper income tax return. The IRS is taking this step because of the continued growth in electronic filing and the availability of free options to taxpayers, as well as to help reduce costs. In early October, the IRS will send a postcard to individuals who filed paper returns last year and did not use a tax preparer or tax software. The information will explain how to get the tax forms and instructions they need for filing their tax year 2010 return. The forms and instructions will be available in early January 2011. Tax Package Mailing for Business Also to End Following Growth of e-File Business taxpayers will no longer receive paper tax packages in the mail from the IRS. Tax packages contained the forms, schedules and instructions for filing a paper tax return. The IRS is taking this step because of the continued growth in electronic filing as well as to help reduce costs. In early October, the IRS will send a postcard to businesses that normally receive their tax forms and publications from the IRS. Most businesses receive their tax products from a tax professional or tax software. The postcard will explain how to get the tax forms and instructions needed to file future returns. IRS Releases Final Versions of Form 1120 Schedule UTP and Instructions with Commissioner Schulman Remarks and Other Related Items The IRS released final versions of Form 1120 Schedule UTP and Instructions. The IRS also released related items including: Announcement 2010-75, Announcement 2010-76 and an Internal Directive on Reporting of Uncertain Tax Positions. Residential Energy Credits Flyer is Available in Five Languages Publication 4845, Key Points about Residential Energy Credits, is now available in Spanish, Chinese, Vietnamese, Korean, and Russian. The flyer highlights key points about the Nonbusiness Energy Property Credit and the Residential Energy Efficient Property Credit.