Friday, May 8, 2009

IRS Seeks Public Comment on Priority List for 2009-2010

Pursuant to Notice 2009-43, The Department of Treasury and Internal Revenue Service invite public comment on recommendations for items that should be included on the 2009-2010 Guidance Priority List.

See Below     

Notice 2009-43

The Department of Treasury and Internal Revenue Service invite public comment on recommendations for items that should be included on the 2009-2010 Guidance Priority List.

The Treasury Department's Office of Tax Policy and the Service use the Guidance Priority List each year to identify and prioritize the tax issues that should be addressed through regulations, revenue rulings, revenue procedures, notices, and other published administrative guidance. The 2009-2010 Guidance Priority List will establish the guidance that the Treasury Department and the Service intend to issue from July 1, 2009, through June 30, 2010. The Treasury Department and the Service recognize the importance of public input to formulate a Guidance Priority List that focuses resources on guidance items that are most important to taxpayers and tax administration.

Published guidance plays an important role in increasing voluntary compliance by helping to clarify ambiguous areas of the tax law. As is the case whenever significant legislation is enacted, the Treasury Department and the Service have continued to dedicate substantial resources during the current plan year to published guidance projects necessary to implement the provisions of the multitude of tax Acts that have been enacted over the past several years including, but not limited to, the American Jobs Creation Act of 2004, Pub. L. No. 108-357, 118 Stat. 1418, which was enacted on October 22, 2004; the Pension Protection Act of 2006, Pub. L. No. 109-280, 120 Stat. 780, which was enacted on August 17, 2006; the Economic Stimulus Act of 2008, Pub. L. No. 110-185, 122 Stat. 613, which was enacted on February 13, 2008, the Housing Assistance Tax Act of 2008, Pub. L. No. 110-289, 122 Stat. 2654, which was enacted on July 30, 2008; the Emergency Economic Stabilization Act of 2008, Energy Improvement and Extension Act of 2008, and Tax Extenders and Alternative Minimum Tax Relief Act of 2008, Pub. L. No. 110-343, 122 Stat. 3765, which were enacted on October 3, 2008; and the American Recovery and Reinvestment Tax Act of 2009, Pub. L. No. 111-5, 123 Stat. 115, which was enacted on February 17, 2009. The Treasury Department and the Service will continue to evaluate the priority of each guidance project in light of the above-mentioned tax legislation and other developments occurring during the 2009-2010 plan year.

In reviewing recommendations and selecting projects for inclusion on the 2009-2010 Guidance Priority List, the Treasury Department and the Service will consider the following:

1. Whether the recommended guidance resolves significant issues relevant to many taxpayers;

2. Whether the recommended guidance promotes sound tax administration;

3. Whether the recommended guidance can be drafted in a manner that will enable taxpayers to easily understand and apply the guidance;

4. Whether the Service can administer the recommended guidance on a uniform basis;

and

5. Whether the recommended guidance reduces controversy and lessens the burden on taxpayers or the Service.

For the full notice, please click here.

AMT

http://lawprofessors.typepad.com/nonprofit/2009/05/irs-seeks-public-comment-on-priority-list-for-20092010.html

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