Daily Tax Update - July 8, 2014: IRS Spokesperson Comments on Staff Turnover

IRS SPOKESPERSON COMMENTS ON STAFF TURNOVER:  IRS spokesperson Bruce Friedland said today that “the IRS is constantly assessing its organization, especially in a time of diminishing resources, to ensure that its structure is efficient and effective.”  The spokesperson added that IRS Commissioner John Koskinen “works closely with his team to ensure that any transition takes place with an eye toward minimizing the impact on the operations and programs of the IRS.”  The spokesperson also announced that Douglas O'Donnell, current LB&I Assistant Deputy Commissioner (International), will assume the duties of Acting Deputy Commissioner (International).

It was announced yesterday that Laura Prendergast, the Acting Deputy Commissioner (Domestic) in the IRS's Large Business and International Division, has retired.

HOUSE TO VOTE ON PERMANENT EXTENSION OF BONUS DEPRECIATION THIS WEEK:  Later this week, the House will consider H.R. 4718, a bill to renew and permanently extend bonus depreciation, which allows businesses to immediately deduct 50 percent of qualified purchased property.