Fargo North Dakota Tax and Accounting Professionals

Electronic Tax Advisory Committee Gets New Chairman and Members
IR-2007-199, Dec. 12, 2007 — New members will serve through November 2010.

Certain Payments to Disabled Veterans Ruled Tax-Free; Some May Be Due Refunds
IR-2007-198, Dec. 12, 2007 — Payments under the VA's Compensated Work Therapy (CWT) program are no longer taxable. Disabled veterans who paid tax on these benefits in the past three years can now claim refunds.

IRS Announces Groundbreaking OPR Settlement with Attorneys
IR-2007-197, Dec. 6, 2007 — The IRS Office of Professional Responsibility (OPR) announced today a settlement agreement with Michael C. Ormsby and David O. Thompson, in connection with a $31 million municipal bond issuance involving River Park Square in Spokane, Washington in 1998 handled by the former firm of Preston, Gates & Ellis LLP.

IRS Issues List of Vehicles that Qualify for the Alternative Motor Vehicle Credit
IR-2007-196, Dec. 5, 2007 — The IRS said purchasers of certain large trucks, buses or other heavy vehicles running on alternative fuel can claim a credit of up $32,000, and purchasers of certain large hybrid trucks and other heavy hybrid vehicles can claim a credit of up to $12,000 if they qualify for the Alternative Motor Vehicle Credit.

Priority Guidance Plan 2007-2008
This plan outlines the items that Treasury and the IRS expect to issue technical guidance on during the next year.

Telephone Excise Tax Refund
The Telephone Excise Tax Refund (TETR) is a one-time payment available on your 2006 federal tax return. It is designed to refund previously collected long distance telephone taxes.

Hybrid Cars and Alternative Fuel Vehicles
Feb. 2008 — Information on hybrid cars, including the certified car models and the amount of the tax credit or deduction for each. Frequently updated.

Katrina News Releases & Legal Guidance
A list of the news releases and legal guidance issued by the IRS related to Hurricane Katrina relief.

Compliance & Enforcement News
A collection of recent news releases, statements and other items related to IRS compliance and enforcement efforts.

Commissioner's Comments, Statements and Remarks
Various topics including tax administration, the IRS budget and tax shelters.

Tax Relief in Disaster Situations
Tax relief provisions for disaster situations.