Issue Number: 2006-14

The Internal Revenue Service is partnering with the American Payroll Association (APA) to assist with their 2006 Payroll Tax Forum seminars, APA’s mid-year update. These comprehensive one-day seminars, which will be held in 35 cities across the country June12-June 23, provide mid-year updates to attendees on the most recent compliance changes impacting payroll procedures, including the latest payroll compliance changes coming from Congress and federal agencies, such as the IRS, SSA, DOL, and the Homeland Security Department.

For complete information about the 2006 APA Payroll Tax Forum seminars in your area, course outline and registration, please go to the APA Web site.

2. Mark Your Calendar for FMS’ June 14 EFTPS Webcast!

The Financial Management Service (FMS), a bureau of the U. S. Department of the Treasury, invites you to participate in a FREE Webcast about the many benefits of using the Electronic Federal Tax Payment System (EFTPS) on June 14, 2006, at 1 p.m. EDT.

The Webcast will last approximately 60 minutes and will include a live question and answer session with the panelists. You may also submit questions prior to the live event to the Simplify EFTPS mailbox. Registration and log-in information are coming soon.

3. IRS Partner Headliners

Headliner Volume 163 - Health Insurance Covering S Corporation Shareholders

In many solely owned businesses, the owner of the business will purchase health insurance in his or her own name versus the name of the business. The type of entity may greatly affect where this insurance premium expense may be deducted on the individual’s personal income tax return.

Headliner Volume 164 - Truck Purchases May be Subject to Excise Tax

Individuals and companies importing truck chassis, bodies or trailers into the United States may be liable for federal excise tax.

Headliner Volume 165 - New Batch Provider Software for Tax Professionals Now Available from EFTPS

Tax professionals who prepare and pay federal taxes for clients or multiple Taxpayer Identification Numbers (TIN) have a secure, easy and convenient way to make up to 5,000 payments in one transmission using the newly updated Batch Provider Software from the Electronic Federal Tax Payment System (EFTPS).

To learn more about EFTPS, visit IRS.gov or the EFTPS Web site.

Headliner Volume 166 - The IRS Automated Underreporter Program: Responding to CP 2000 Notices

Every year taxpayers and tax professionals have questions about responding to CP 2000, Notice of Underreported Income. Headliner 166 covers some frequently asked questions and responses about CP2000.

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