Daily Tax Update - August 12, 2015: IRS Releases Revenue Procedures Regarding Obtaining Assistance from U.S. Competent Authority and APAs

IRS Releases Revenue Procedures Regarding Obtaining Assistance from U.S. Competent Authority and APAs:  Today the IRS released Revenue Procedure 2015-40, which provides guidance on the process for requesting and obtaining assistance under U.S. tax treaties from the U.S. Competent Authority, acting through the Advance Pricing and Mutual Agreement Program and the Treaty Assistance and Interpretation Team of the Deputy Commissioner (International) Large Business and International Division of the IRS.

Additionally, the IRS released Revenue Procedure 2015-41, which provides guidance on the process for requesting and obtaining an Advance Pricing Agreement (APA).  


IRS Releases Final and Temporary Rules on Form W-2 Filing Extensions:  Today the IRS released final and temporary regulations (TD 9730) that remove the automatic extension of time to file information returns on forms in the W-2 series (except Form W-2G).  The temporary regulations allow only a single 30-day non-automatic extension of time to file these information returns.  These changes are being implemented to accelerate the filing of such forms so they are available earlier in the filing season for use in the IRS’s identity theft and refund fraud detection processes.  In addition, the temporary regulations update the list of information returns subject to the rules regarding extensions of time to file.