Fwd: e-News for Tax Professionals Issue 2014-31

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From: e-News for Tax Professionals <irs@service.govdelivery.com>
Date: Fri, Aug 1, 2014 at 1:23 PM
Subject: e-News for Tax Professionals Issue 2014-31
To: iammejtm@gmail.com

e-News for Tax Professionals August 1, 2014
Useful Links: IRS.gov Tax Professionals Home All Forms and Pubs Stakeholders Partners' Headliners Training and Communication Tools IMRS e-Services Taxpayer Advocate Service Disaster Relief Internal Revenue Bulletins IRS Social Media Upcoming Events Seminars, Workshops, Conferences, and Other Practitioner Activities By State: Nationwide Webinars Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Back to top	Issue Number:  2014-31 Inside This Issue Next IRS Nationwide Tax Forum Is Set for National Harbor Extended Maintenance Window for the Modernized e-File (MeF) Production Environment August 14 Webinar: Defined Benefit Plan Terminations Archived FBAR Webinar Information on the Two July 22, 2014, Federal Appeals Court Rulings Regarding Premium Tax Credits under the Affordable Care Act Technical Guidance 1.  Next IRS Nationwide Tax Forum Is Set for National Harbor The next 2014 IRS Nationwide Tax Forum will be held at National Harbor in Maryland near Washington, D.C., and the IRS invites enrolled agents, certified public accountants, certified financial planners and other tax professionals to attend. Those who sign up by the pre-registration date of Aug. 5 will save $130 off the on-site price. Back to top 2.  Extended Maintenance Window for the Modernized e-File (MeF) Production Environment The MeF Sunday maintenance build window is being extended on Sunday, August 3, 2014. The system will be unavailable from 1:00 a.m. until 10:00 a.m., Eastern. The build will deploy critical system updates. This extended window impacts the MeF Production Environment. Thank you in advance for refraining from accessing the MeF Production System during this period. Back to top 3.  August 14 Webinar: Defined Benefit Plan Terminations Sign up for this August 14 webinar and learn about issues related to terminating a defined benefit retirement plan. We'll discuss how the IRS defines the date of termination, final funding requirements, PBGC issues, reversions, and what is needed in a notice of intent to terminate the plan. Back to top 4.  Archived FBAR Webinar Practitioners who missed the June 4 IRS webinar on Reporting of Foreign Financial Accounts on the Electronic FBAR can now view it online. Back to top 5.  Information on the two July 22, 2014, Federal Appeals Court rulings regarding Premium Tax Credits under the Affordable Care Act It's important for individuals receiving advance payments of the premium tax credit to know that at this time, nothing has changed and tax credits remain available. Whether enrolled in coverage through a federally-run or state-run Health Insurance Exchange, also known as a Marketplace, individuals do not need to take any additional action or make any changes in response to the court rulings. We will provide any updates on IRS.gov/aca. Back to top 6.  Technical Guidance Announcement 2014-28 provides guidance to U.S. citizens or resident aliens living and working abroad whose tax home is in a foreign country and meet either the bona fide residence test or the physical presence test, choosing to exclude from their income a limited amount of their foreign earned income ($99,200 for 2014).  Both the bona fide residence test and the physical presence test contain minimum time requirements.  The minimum time requirements can be waived, however, for those who must leave a foreign country because of war, civil unrest, or similar adverse conditions in that country.  Rev. Proc. 2014-25 contains the list of countries for tax year 2013 for which the minimum time requirements are waived.  However, that list is incomplete.  South Sudan and its departure date have been added. Notice 2014-45 provides guidance relating to certain dispositions of assets following a section 901(m) covered asset acquisition. This notice provides that the rules set forth in the Notice 2014-44 will apply to entity classification elections filed on or after this release date that are effective for dates preceding July 21. Back to top Thank you for subscribing to e-News for Tax Professionals an IRS e-mail service. If you have a specific concern about your client's tax situation, call the IRS Practitioner Priority Service 1-866-860-4259. This message was distributed automatically from the mailing list e-News for Tax Professionals. Please Do Not Reply To This Message To subscribe to or unsubscribe from another list, please go to the e-News Subscriptions page on the IRS Web site.

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Jeremy Tobias Matthews