IRS ADMINISTRATIVE AFFAIRS
TEI Submits Comments on Proposed Changes to Schedule UTP
On November 17, 2022, TEI submitted comments to the IRS on proposed changes to Schedule UTP. The comments identified a variety of critical policy issues that must be evaluated in a thoughtful and deliberative manner and urged the IRS to put an indefinite hold on the proposed changes and engage in a meaningful collaboration with stakeholders to identify reasonable alternatives.
TEI Submits Comments on the IRS Form Being Developed to Standardize Rev. Proc. 94-69 Disclosures
On June 1, 2022, TEI submitted comments on draft IRS Form 15307, which the IRS is developing to standardize the process for making Rev. Proc. 94-69 disclosures so eligible taxpayers and revenue agents will have consistent guidelines around what constitutes adequate disclosure. TEI’s comments expressed fundamental concerns surrounding the proposed consequences of a deemed failure to provide adequate disclosures and provided a number of detailed suggestions intended to eliminate confusion and uncertainty when describing adjustments in the form.
TEI Submits Comments to the IRS Concerning the Proposed Elimination of Revenue Procedure 94-69
TEI Holds 2020 Liaison Meetings with the Internal Revenue Service and U.S. Department of the Treasury
TEI Participates in Annual IRS and Treasury Department Liaison Meetings
TEI Members Participate in 2017 IRS and US Treasury Liaison Meetings
On February 22-23, 2017, a delegation from Tax Executives Institute met with the Commissioner of Internal Revenue, John Koskinen, and senior officials of the Internal Revenue Service and with the Treasury Department’s Tax Legislative Counsel, Tom West, and senior officials of Treasury’s Office of Tax Policy. The detailed agendas TEI submitted to the IRS and Treasury Department before the meetings are provided below.
TEI Proposes Changes to IRS on FATCA Form W-8BEN-E
On June 20, 2016, TEI submitted a letter to the IRS recommending certain changes and clarifications to the FATCA-related Form W-8BEN-E. The letter discusses ambiguities in the most recent version of the form, as well as a need to allow the use of the previous version of the form through the end of 2016.
TEI’s IRS Administrative Affairs Committee prepared this letter. Colleen C. Brown chairs the Committee, and TEI Tax Counsel John Schoenecker coordinated the preparation of TEI’s comments.
Participants in Region 6/7 IRS Liaison Meeting Gain Invaluable Insights
On June 14, 2016, members from Regions VI and VII enjoyed a wide-ranging and insightful discussion with local and national LB&I executives at the University of Illinois Business Center in Chicago, Illinois. Special congratulations and thanks go out to Region VI leadership, notably RVP Janet Kreilein, who led the planning and organization of this year’s event. LB&I’s recent restructuring and the reengineering of its examination process fostered a lively conversation benefitting both TEI members and LB&I officials.
LB&I has begun publishing Internal Revenue Manual updates
** Update of March 31, 2016
LB&I has begun publishing Internal Revenue Manual updates to incorporate the issue-driven examination process outlined in Publication 5125. We encourage TEI Members to review the updates and send your questions, comments, and concerns to Patrick Evans, TEI’s Chief Tax Counsel, at email@example.com or (202) 464-8351.