IRS Updates

Comments Requested on Energy Guidance

The IRS has issued notices asking for comments on various aspects of energy tax benefits in the Inflation Reduction Act. Constructive comments may aid the agency in drafting guidance geared to the needs of entitled parties. Notice 2022-56 asks for comments regarding qualified commercial clean vehicles provisions and alternative fuel vehicle refueling property. Notice 2022-57 requests comments related to carbon capture credit. Notice 2022-58 is for comments regarding credits for production of clean hydrogen and clean fuel. Feedback must be submitted by December 3, 2022.

Independent Office of Appeals Publishes Priorities

The IRS Independent Office of Appeals released its focus guide for the next year. Its priorities attempt to increase taxpayer service, by including outreach to historically marginalized communities, improving access to appeals in-person and by video, leveraging technology to improve case management, and developing training for Appeals employees. They also intend to continue seeking feedback from tax professionals. 

Retirement Plan Approval Program Expanded

The IRS and Treasury have announced the expansion of one of their programs for approving retirement plans. Revenue Procedure 2022-40 details this expansion and other changes. Beginning next June, 403(b) retirement plans will be allowed to use the same individually designed retirement plan determination letter program currently used by qualified retirement plans. Some changes to procedures for submitting and processing individually designed retirement plans are also explained.

More IRS Job Openings

In addition to the more than 4000 people recently hired, the IRS is now seeking over 700 new employees to help taxpayers at Taxpayer Assistance Centers across the country. This increase in staffing and funding, like other recent expansions, is thanks to the Inflation Reduction Act. These positions have highly competitive pay, on-the-job training, opportunities for advancement, health and life insurance, paid holidays, paid vacation and sick leave, flexible work schedules, the Child Care Subsidy Program, Employee Assistance Program, health services, paid maternity/paternity leave, and a federal retirement. Employees must be US citizens and pass an FBI fingerprint check and tax compliance verification.