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<DIV>Good morning again,</DIV>
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<DIV>More valuable information from the IRS.</DIV>
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<DIV><FONT face="Footlight MT Light" color=#6147c5 size=4><STRONG><FONT face="Brush Script MT" size=6>Karen Park<BR></FONT>State Social Security Coordinator<BR>Oregon PERS<BR>503 603-7633<BR>karen.park@state.or.us<BR><IMG alt="" hspace=0 src="cid:DRIEJVQRTRKG.IMAGE_17.GIF" align=baseline border=0><BR>SL2</STRONG></FONT></DIV>
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<DIV><FONT face="Footlight MT Light" color=#6147c5>Please note: I will be out of the office starting the afternoon of Wednesday, Dec 16, 2008 returning Monday, Jan 5, 2009. </FONT></DIV>
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<DIV><FONT face="Footlight MT Light" color=#6147c5>Happy Holidays!</FONT></DIV><BR><BR>>>> On 12/15/2008 at 4:25 PM, in message <9687ABA174F26649B8F916101422A5BF03BE9E36@FRS0010CP3MB02.ds.irsnet.gov>, "Marshall KayDel D" <KayDel.Marshall@irs.gov> wrote:<BR></DIV>
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<DIV><SPAN class=819251718-15122008><FONT face=Arial color=#0000ff size=2><SPAN class=850381300-16122008>Practitioner:</SPAN></FONT></SPAN></DIV>
<DIV><SPAN class=819251718-15122008><FONT face=Arial color=#0000ff size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=819251718-15122008><FONT face=Arial><STRONG>Attachments:</STRONG></FONT></SPAN></DIV>
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<DIV><SPAN class=819251718-15122008><FONT face=Arial size=2>1. Q&A from the October National Phone Forum on Small Business Recordkeeping. There is a lot of information in here that could be useful to your clients. </FONT></SPAN></DIV>
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<DIV><SPAN class=819251718-15122008><FONT face=Arial><FONT size=2><SPAN class=072432819-15122008> </SPAN>2. Fact Sheet 2<SPAN class=297203216-11122008>0</SPAN>08-2<SPAN class=297203216-11122008>6</SPAN>: <SPAN class=072432819-15122008><FONT color=#0000ff> <FONT color=#000000>"</FONT> </FONT></SPAN>IRS Reminder: Make Use of Recent Tax Law Changes for 2008<FONT color=#0000ff><SPAN class=072432819-15122008> <FONT color=#000000>and December 31, 2008 is the last day for most of these actions". </FONT></SPAN></FONT><SPAN class=410260716-11122008> </SPAN><SPAN class=410260716-11122008>It contains Podcasts in English and Spanish that your are free to post on your Web sites.</SPAN></FONT></FONT></SPAN></DIV><FONT size=2>
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<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN class=storyhead><SPAN style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: Arial"><FONT size=4><FONT color=#000000><SPAN class=072432819-15122008> </SPAN><STRONG>IRS Updates & News Releases:<o:p></o:p></STRONG></FONT></FONT></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN class=storyhead><B style="mso-bidi-font-weight: normal"><SPAN style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: Arial"><o:p> </o:p></SPAN></B></SPAN></P>
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<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN class=storyhead><SPAN style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: Arial"><o:p><SPAN class=819251718-15122008><FONT color=#000000 size=2><SPAN class=858471914-08122008><A title=http://mysbse.web.irs.gov/CLD/Communications/Products/WebConnection/National/8982.aspx href="http://mysbse.web.irs.gov/CLD/Communications/Products/WebConnection/National/8982.aspx"><FONT color=#0000ff size=3><STRONG>Tax Talk Today will be discontinued</STRONG></FONT></A> </SPAN></FONT></SPAN></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN class=storyhead><SPAN style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: Arial"><o:p><SPAN class=819251718-15122008><FONT color=#000000 size=2><SPAN class=858471914-08122008>Tax Talk Today will be discontinued after the May 2009 program. Archived programs will be available through September 30.</SPAN></FONT></SPAN></o:p></SPAN></SPAN></P>
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<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><A href="http://www.irs.gov/businesses/small/article/0,,id=200424,00.html"></A><o:p></o:p></SPAN></P><SPAN class=storyhead><B style="mso-bidi-font-weight: normal"><SPAN style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: Arial"></SPAN></B></SPAN><SPAN class=storyhead><SPAN style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: Arial"><o:p><FONT face=Arial color=#000000 size=2></FONT></o:p></SPAN></SPAN>
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<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN class=storyhead><SPAN style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: Arial"><o:p><FONT color=#000000 size=2><SPAN class=819251718-15122008><FONT color=#0000ff size=3><STRONG>New Exempt Organization Video </STRONG></FONT></SPAN></FONT></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN class=storyhead><SPAN style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: Arial"><o:p><FONT color=#000000 size=2><SPAN class=819251718-15122008><FONT color=#0000ff size=3><FONT color=#000000 size=2>For those of you interested in the new Form 990, IRS Exempt Organization has developed a video mini-course on</FONT></FONT> <A title=http://www.stayexempt.org/mini-courses/newform990/player.html href="http://www.stayexempt.org/mini-courses/newform990/player.html"><FONT face="Times New Roman" color=#0000ff size=3>Preparing to File the New Form 990</FONT></A><FONT color=#0000ff size=3><FONT color=#000000 size=2>.</FONT><FONT color=#000000 size=2> You can stop the presentation at any time, come back, and resume where you left off. </FONT></FONT></SPAN></FONT></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN class=storyhead><SPAN style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: Arial"><o:p><FONT color=#000000 size=2><SPAN class=819251718-15122008> </P></SPAN></FONT></o:p></SPAN></SPAN>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN class=storyhead><SPAN style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: Arial"><o:p><FONT face=Arial color=#000000 size=2></FONT></o:p></SPAN></SPAN> </P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN class=storyhead><SPAN style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: Arial"><o:p><FONT color=#000000 size=2><SPAN class=819251718-15122008><FONT color=#0000ff size=3><STRONG>Retirement Plan Information</STRONG></FONT> <FONT color=#0000ff size=3><STRONG> </STRONG></FONT></SPAN></FONT></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN class=storyhead><SPAN style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: Arial"><o:p><FONT color=#000000 size=2><SPAN class=819251718-15122008><FONT color=#0000ff size=3><FONT color=#000000 size=2>Find tips on how to find, fix, and avoid common mistakes in:</FONT><STRONG> </STRONG></FONT> <A title=http://www.irs.gov/retirement/sponsor/article/0,,id=181908,00.html href="http://www.irs.gov/retirement/sponsor/article/0,,id=181908,00.html"><FONT class=link title=http://www.irs.gov/retirement/sponsor/article/0,,id=181908,00.html face="Times New Roman" color=#0000ff size=3><STRONG title=http://www.irs.gov/retirement/sponsor/article/0,,id=181908,00.html>SEP, SIMPLE IRA Plan, and 401(k) Fix-It Guides Available</STRONG></FONT></A></SPAN></FONT></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN class=storyhead><SPAN style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: Arial"><o:p><FONT color=#000000 size=2><SPAN class=819251718-15122008><STRONG><FONT color=#0000ff size=3></FONT></STRONG><STRONG><FONT color=#0000ff size=3></FONT></STRONG><BR> </P></SPAN></FONT></o:p></SPAN></SPAN><SPAN class=storyhead><SPAN style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: Arial"><o:p><FONT color=#000000 size=2><SPAN class=819251718-15122008></SPAN></FONT></o:p></SPAN></SPAN><SPAN class=storyhead><SPAN style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: Arial"><o:p><FONT color=#000000><SPAN class=819251718-15122008>
<DIV><A title=http://www.irs.gov/pub/irs-tege/rne_fall08.pdf href="http://www.irs.gov/pub/irs-tege/rne_fall08.pdf"><FONT class=link title=http://www.irs.gov/pub/irs-tege/rne_fall08.pdf color=#0000ff size=3><STRONG title=http://www.irs.gov/pub/irs-tege/rne_fall08.pdf>Retirement News for Employers - Fall 2008 Edition</STRONG></FONT></A><BR><FONT size=2>This edition includes articles such as Help Your Employees Weather the Storm: Hardship Withdrawals and Loans from Retirement Plans; Do the Right Thing Even When Times are Tough!; Is My Plan the Right Plan?; Required Minimum Distribution Reminder; RNE Survey; Failure to Provide a Safe Harbor 401(k) Plan Notice; 2009 Retirement Plan Limits Announced; and DOL News.</FONT></DIV>
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<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN class=storyhead><SPAN style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: Arial"><o:p><FONT color=#000000 size=2></FONT></o:p></SPAN></SPAN> </P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN class=storyhead><SPAN style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: Arial"><o:p><FONT color=#000000 size=2><FONT size=2><A title=http://www.irs.gov/app/scripts/exit.jsp?dest=http://216.12.134.241/ccs_adwp/ href="http://www.irs.gov/app/scripts/exit.jsp?dest=http%3A%2F%2F216.12.134.241%2Fccs_adwp%2F"><FONT class=link title=http://www.irs.gov/app/scripts/exit.jsp?dest=http://216.12.134.241/ccs_adwp/ color=#0000ff size=3><STRONG title=http://www.irs.gov/app/scripts/exit.jsp?dest=http://216.12.134.241/ccs_adwp/>Campus Compliance Services A Dialogue with Practitioners</STRONG></FONT></A><BR>This video addresses questions from tax professionals on topics such as Power of Attorney, Automated Underreporter, Correspondence Audit, Centralized Offer-in-Compromise and Practitioner Priority Service.</FONT></FONT></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN class=storyhead><SPAN style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: Arial"><o:p><FONT color=#000000 size=2> </P></FONT></o:p></SPAN></SPAN>
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<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 11pt; COLOR: blue"><SPAN class=819251718-15122008><A title=http://www.irs.gov/pub/irs-utl/irs_advancing_e-file_study_phase_1_executive_summary_v1_3.pdf href="http://www.irs.gov/pub/irs-utl/irs_advancing_e-file_study_phase_1_executive_summary_v1_3.pdf"><FONT face=Arial color=#0000ff size=3><STRONG>IRS Advancing e-File Study Phase 1 Executive Summary</STRONG></FONT></A></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 11pt; COLOR: blue"><SPAN class=819251718-15122008><FONT face=Arial color=#000000 size=2><FONT size=2>The Internal Revenue Service (IRS) Advancing </FONT><I><FONT face=Calibri,Calibri size=2>E-file </I></FONT><FONT size=2>Study Phase 1 Report is a major effort to collect, synthesize, and analyze all substantial data in one document on the IRS </FONT><I><FONT face=Calibri,Calibri size=2><FONT face=Arial>e-file</FONT> </I></FONT><FONT size=2>program. </P>
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<DIV><SPAN style="FONT-SIZE: 11pt; COLOR: blue"><FONT face=Arial><FONT size=3>Wage Compensation for S Corporation Officers<o:p></o:p></FONT></FONT></SPAN></DIV></H2>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN class=storyhead><SPAN style="FONT-SIZE: 10pt; COLOR: blue; FONT-FAMILY: Arial"><A href="http://www.irs.gov/newsroom/article/0,,id=200293,00.html"><FONT color=#0000ff>http://www.irs.gov/newsroom/article/0,,id=200293,00.html</FONT></A><o:p></o:p></SPAN></SPAN></P>
<P style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt"><FONT face=Arial>The Internal Revenue Code establishes that any officer of a corporation, including S corporations, is an employee of the corporation for federal employment tax purposes. S corporations should not attempt to avoid paying employment taxes by having their officers treat their compensation as cash distributions, payments of personal expenses, and/or loans rather than as wages.<SPAN style="mso-spacerun: yes"> </SPAN>This fact sheet clarifies information that small business taxpayers should understand regarding the tax law for corporate officers who perform services.</FONT></SPAN></P>
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<H2 style="MARGIN: 0in 0in 0pt; mso-line-height-alt: 10.5pt"><SPAN style="FONT-SIZE: 11pt; COLOR: blue"><FONT face=Arial><FONT size=3>IRS Announces 2009 Standard Mileage Rates<o:p></o:p></FONT></FONT></SPAN></H2>
<P style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt"><A href="http://www.irs.gov/newsroom/article/0,,id=200505,00.html"><FONT face=Arial color=#0000ff>http://www.irs.gov/newsroom/article/0,,id=200505,00.html</FONT></A><o:p></o:p></SPAN></P>
<P style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt"><FONT face=Arial>Beginning on Jan. 1, 2009, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:<o:p></o:p></FONT></SPAN></P>
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<LI class=MsoNormal style="MARGIN: 0in 0in 0pt; COLOR: black; LINE-HEIGHT: 10.5pt; mso-list: l2 level1 lfo1; tab-stops: list .5in"><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">55 cents per mile for business miles driven<o:p></o:p></SPAN>
<LI class=MsoNormal style="MARGIN: 0in 0in 0pt; COLOR: black; LINE-HEIGHT: 10.5pt; mso-list: l2 level1 lfo1; tab-stops: list .5in"><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">24 cents per mile driven for medical or moving purposes<o:p></o:p></SPAN>
<LI class=MsoNormal style="MARGIN: 0in 0in 0pt; COLOR: black; LINE-HEIGHT: 10.5pt; mso-list: l2 level1 lfo1; tab-stops: list .5in"><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">14 cents per mile driven in service of charitable organizations<o:p></o:p></SPAN></LI></UL>
<P style="MARGIN: 0in 0in 0pt"><FONT face=Arial><SPAN style="FONT-SIZE: 10pt">The new rates for business, medical and moving purposes are slightly lower than rates for the second half of 2008 that were raised by a special adjustment mid-year in response to a spike in gasoline prices. The rate for charitable purposes is set by law and is unchanged from 2008.<SPAN style="mso-spacerun: yes"> </SPAN>The business mileage rate was 50.5 cents in the first half of 2008 and 58.5 cents in the second half. The medical and moving rate was 19 cents in the first half and 27 cents in the second half.</SPAN><SPAN class=articletitle><SPAN style="FONT-SIZE: 14pt"> <o:p></o:p></SPAN></SPAN></FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><SPAN class=articletitle><SPAN style="FONT-SIZE: 14pt"><o:p><FONT face=Arial color=#0000ff size=3><STRONG>Invitation to Participate in Web-Based Cash Economy Survey</STRONG></FONT></o:p></SPAN></SPAN></P><SPAN class=articletitle><SPAN style="FONT-SIZE: 14pt"><o:p><FONT size=2>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><o:p><FONT size=3><SPAN style="FONT-FAMILY: Arial; mso-bidi-font-family: 'Times New Roman'"><FONT size=3><FONT size=2>We hope that you will participate<SPAN class=819251718-15122008> in a new Web-Based Cash Economy Survey</SPAN></FONT><SPAN class=953350621-02122008><FONT size=2>:</FONT> <FONT size=2> </FONT></SPAN></FONT></SPAN><SPAN style="FONT-SIZE: 11pt; FONT-FAMILY: Calibri; mso-ansi-language: #0400; mso-fareast-language: #0400"><A title=http://chrome.osis.gov/cash_econ/index_cookie.html href="http://chrome.osis.gov/cash_econ/index_cookie.html"><SPAN title=http://chrome.osis.gov/cash_econ/index_cookie.html style="mso-bidi-font-size: 12.0pt"><FONT face=Arial size=2>http://chrome.osis.gov/cash_econ/index_cookie.html</FONT></SPAN></A><o:p></o:p></SPAN></FONT></o:p></P>
<P class=MsoNormal style="MARGIN: 0in 0.25in 0pt 0in"><SPAN style="FONT-FAMILY: Arial; mso-bidi-font-family: 'Times New Roman'">The IRS is following up to its previous focus group initiatives to increase compliance in the Cash Economy with an anonymous web-based survey.<SPAN style="mso-spacerun: yes"> </SPAN>The survey is designed to be completed in about eight minutes and solicits responses on key IRS education and outreach activities.<SPAN style="mso-spacerun: yes"> </SPAN>We hope you will extend this invitation to participate in the survey to your constituents (members).<o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0.25in 0pt 0in"><SPAN style="FONT-FAMILY: Arial; mso-bidi-font-family: 'Times New Roman'"><o:p> </o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0.25in 0pt 0in"><SPAN style="FONT-FAMILY: Arial; mso-bidi-font-family: 'Times New Roman'">Participation will assist the IRS toward a better understanding of how citizens view their tax reporting obligations in this area, and help to improve services.<SPAN style="mso-spacerun: yes"> </SPAN>A key component of this process is obtaining input from the experience of paid tax preparers.<o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0.25in 0pt 0in"><SPAN style="FONT-FAMILY: Arial; mso-bidi-font-family: 'Times New Roman'"><o:p> </o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0.25in 0pt 0in"><SPAN style="FONT-FAMILY: Arial; mso-bidi-font-family: 'Times New Roman'">Responses are very valuable as we consider ways to improve compliance, reduce burden on the taxpayer, and improve services.<o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0.25in 0pt 0in"><SPAN style="FONT-FAMILY: Arial; mso-bidi-font-family: 'Times New Roman'"><o:p> </o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0.25in 0pt 0in"><SPAN style="FONT-FAMILY: Arial; mso-bidi-font-family: 'Times New Roman'">You can access the web-based survey at the link below from December 8, 2008 until January 9, 2009, or until 2,500 responses are received.<SPAN style="mso-spacerun: yes"> </SPAN>Once we receive 2,500 responses, the survey will no longer be available.<SPAN style="mso-spacerun: yes"> </SPAN>The link will also be posted on the irs.gov Tax Professionals Page.<SPAN style="mso-spacerun: yes"> </SPAN>We do request one response per participant.<o:p></o:p></SPAN></P>
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<P style="MARGIN: 0in 0in 0pt"><SPAN class=articletitle><SPAN style="FONT-SIZE: 14pt"></SPAN></SPAN><SPAN class=articletitle><SPAN style="FONT-SIZE: 14pt"></SPAN></SPAN><SPAN class=articletitle><SPAN style="FONT-SIZE: 14pt"><o:p><FONT face=Arial size=2></FONT></o:p></SPAN></SPAN> </P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><B style="mso-bidi-font-weight: normal"><SPAN style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: Arial"><FONT size=3>Job Loss Creates Tax Issues: IRS Publication 4128 Provides Helpful Information<o:p></o:p></FONT></SPAN></B></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt; COLOR: blue; FONT-FAMILY: Arial"><A title=http://www.irs.gov/pub/irs-pdf/p4128.pdf href="http://www.irs.gov/pub/irs-pdf/p4128.pdf"><FONT color=#0000ff>http://www.irs.gov/pub/irs-pdf/p4128.pdf</FONT></A><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">The Internal Revenue Service recognizes that the loss of a job may create new tax issues. This IRS publication provides the information on severance pay, unemployment, getting a W-2 from an employer thats out of business or in bankruptcy, what to do if you owe taxes and cannot pay them right away, and more.</SPAN></P>
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<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN class=articletitle><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><SPAN class=819251718-15122008><FONT size=2><SPAN class=storyhead><SPAN style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: Arial"><o:p><FONT color=#000000><SPAN class=888465419-12122008><SPAN class=819251718-15122008><FONT color=#0000ff><STRONG>SSA W2 News</STRONG><FONT color=#000000> If you are interested</FONT></FONT></SPAN></SPAN></FONT></o:p></SPAN></SPAN><o:p><FONT color=#001e5a><SPAN class=storyhead><SPAN style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: Arial"><o:p><FONT color=#000000><SPAN class=888465419-12122008><SPAN class=819251718-15122008> in W2 information from the Social Security Administration check out the </SPAN>latest issue <SPAN class=819251718-15122008>of W2 News</SPAN> at: <A title=http://www.ssa.gov/employer/w2news/index.htm href="http://www.ssa.gov/employer/w2news/index.htm"><FONT color=#0000ff>http://www.ssa.gov/employer/w2news/index.htm</FONT></A> <SPAN class=850381300-16122008><FONT color=#0000ff> </FONT></SPAN></SPAN></FONT></o:p></SPAN></SPAN></FONT></o:p></FONT></SPAN></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN class=articletitle><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><SPAN class=819251718-15122008><FONT size=2><o:p><FONT color=#001e5a><SPAN class=storyhead><SPAN style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: Arial"><o:p><FONT color=#000000><SPAN class=888465419-12122008><SPAN class=850381300-16122008></SPAN></SPAN></FONT></o:p></SPAN></SPAN></FONT></o:p></FONT></SPAN></o:p></SPAN></SPAN> </P><SPAN class=articletitle><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><SPAN class=819251718-15122008><FONT size=2><o:p><FONT color=#001e5a><SPAN class=storyhead><SPAN style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: Arial"><o:p><FONT color=#000000><SPAN class=888465419-12122008><SPAN class=850381300-16122008>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-FAMILY: 'Bookman Old Style'; mso-bidi-font-size: 14.0pt"><FONT size=3><FONT face="Arial Narrow"><FONT color=#0000ff><FONT face=Arial><STRONG>SSA Podcast on Retirement Decisions</STRONG> <o:p></o:p></FONT></FONT>The decision on when to collect Social Security benefits is a very personal decision and this podcast will explore some of the issues that should be considered.<SPAN style="mso-spacerun: yes"> </SPAN><o:p></o:p></FONT></FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-FAMILY: 'Bookman Old Style'; mso-bidi-font-size: 14.0pt"><o:p><FONT face="Arial Narrow" size=3> </FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-FAMILY: 'Bookman Old Style'; mso-bidi-font-size: 14.0pt"><FONT size=3><FONT face="Arial Narrow">To hear or download the podcast, go to <SPAN style="COLOR: blue"><A href="http://www.socialsecurity.gov/podcast">www.socialsecurity.gov/podcast</A>s.</SPAN> We also ask that you share this information with your members, colleagues and other interested parties.<SPAN style="mso-spacerun: yes"> </SPAN>Together, we can provide Americans with information that will help them better plan for a secure retirement.<o:p></o:p></FONT></FONT></SPAN></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT size=3><SPAN><FONT face=Arial><SPAN style="FONT-SIZE: 11pt; COLOR: blue"><STRONG>Winter Issue of SSA/IRS Reporter Available</STRONG><SPAN class=850381300-16122008><FONT size=2> <STRONG> </STRONG></FONT></SPAN></SPAN></FONT></SPAN></FONT><SPAN style="FONT-SIZE: 10pt"><A href="http://www.irs.gov/pub/irs-utl/ssa_irs_reporter_winter_08_english.pdf"><FONT face=Arial color=#0000ff>http://www.irs.gov/pub/irs-utl/ssa_irs_reporter_winter_08_english.pdf</FONT></A><o:p></o:p></SPAN></P>
<P style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt"><FONT face=Arial>The SSA/IRS Reporter provides small to medium-sized employers and the self-employed with information on electronic tax-filing and payment of employment taxes. The <EM><SPAN style="FONT-FAMILY: Arial">Reporter</SPAN></EM> also carries general information about best payroll and employment tax practices, and announcements about IRS and SSA products and services. Articles in the winter issue include: <o:p></o:p></FONT></SPAN></P>
<UL style="MARGIN-TOP: 0in" type=square>
<LI class=MsoNormal style="MARGIN: 0in 0in 0pt; mso-list: l0 level1 lfo3; tab-stops: list .5in"><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Social Security Announces Wage Base Increase for 2009 <o:p></o:p></SPAN>
<LI class=MsoNormal style="MARGIN: 0in 0in 0pt; mso-list: l0 level1 lfo3; tab-stops: list .5in"><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Business Information Reporting and Backup Withholding Responsibilities <o:p></o:p></SPAN>
<LI class=MsoNormal style="MARGIN: 0in 0in 0pt; mso-list: l0 level1 lfo3; tab-stops: list .5in"><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">2009 Changes in IRS Forms <o:p></o:p></SPAN>
<LI class=MsoNormal style="MARGIN: 0in 0in 0pt; mso-list: l0 level1 lfo3; tab-stops: list .5in"><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Employer Responsibilities: Outsourcing Payroll <o:p></o:p></SPAN>
<LI class=MsoNormal style="MARGIN: 0in 0in 0pt; mso-list: l0 level1 lfo3; tab-stops: list .5in"><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">SBA Disaster Loans <o:p></o:p></SPAN>
<LI class=MsoNormal style="MARGIN: 0in 0in 0pt; mso-list: l0 level1 lfo3; tab-stops: list .5in"><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Reminders for Successful Year-End Processing <o:p></o:p></SPAN>
<LI class=MsoNormal style="MARGIN: 0in 0in 0pt; mso-list: l0 level1 lfo3; tab-stops: list .5in"><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Many Employees Overlooking Valuable EITC Tax Credit <o:p></o:p></SPAN></LI></UL>
<P style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt"><FONT face=Arial>A quarterly newsletter, the <EM><SPAN style="FONT-FAMILY: Arial">Reporter</SPAN></EM> is a collaborative effort among the Social Security Administration, IRS, and other federal government agencies. It is enclosed with quarterly Forms 941 mailed to approximately 2,000,000 employers. Past issues, in English and Spanish, are also available<FONT color=#0000ff> </FONT></FONT><A href="http://www.irs.gov/businesses/small/article/0,,id=109886,00.html"><FONT face=Arial color=#0000ff>online</FONT></A><FONT face=Arial> at</FONT></SPAN><FONT face=Arial><SPAN class=articletitle><SPAN style="FONT-SIZE: 14pt"> </SPAN></SPAN><SPAN style="FONT-SIZE: 10pt"><A href="http://www.irs.gov/businesses/small/article/0,,id=109886,00.html"><FONT color=#0000ff>http://www.irs.gov/businesses/small/article/0,,id=109886,00.html</FONT></A><o:p></o:p></SPAN></FONT></P>
<H2 style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10.5pt"><o:p><FONT face=Arial color=#001e5a size=3> </FONT></o:p></H2>
<H2 style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10.5pt"><o:p><FONT color=#001e5a><SPAN class=storyhead><SPAN style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: Arial"><o:p><FONT color=#000000><SPAN class=888465419-12122008></SPAN></FONT></o:p></SPAN></SPAN></FONT></o:p><SPAN style="FONT-SIZE: 11pt; COLOR: blue"><FONT face=Arial></FONT></SPAN> </H2>
<H2 style="MARGIN: 0in 0in 0pt; mso-line-height-alt: 10.5pt"><SPAN style="FONT-SIZE: 11pt; COLOR: blue"><FONT face=Arial>IRS Offers Tips for Year-End Donations<o:p></o:p></FONT></SPAN></H2>
<P style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt"><A href="http://www.irs.gov/newsroom/article/0,,id=201076,00.html"><FONT face=Arial color=#0000ff>http://www.irs.gov/newsroom/article/0,,id=201076,00.html</FONT></A><o:p></o:p></SPAN></P>
<P style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt"><FONT face=Arial>Individuals and businesses making contributions to charity should keep in mind several important tax law provisions that have taken effect in recent years.<o:p></o:p></FONT></SPAN></P>
<P style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt"><FONT face=Arial>One provision offers older owners of individual retirement arrangements (IRAs) a different way to give to charity. There are also rules designed to provide both taxpayers and the government greater certainty in determining what may be deducted as a charitable contribution. Some of these changes include the following.</FONT></SPAN></P>
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<H2 style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10.5pt"><SPAN style="FONT-SIZE: 10pt"><o:p><FONT face=Arial color=#001e5a> </FONT></o:p></SPAN></H2>
<H2 style="MARGIN: 0in 0in 0pt; mso-line-height-alt: 10.5pt"><SPAN style="FONT-SIZE: 11pt; COLOR: blue"><FONT face=Arial>Interest Rates Drop for the First Quarter of 2009<o:p></o:p></FONT></SPAN></H2>
<P style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt"><A href="http://www.irs.gov/newsroom/article/0,,id=201115,00.html"><FONT face=Arial color=#0000ff>http://www.irs.gov/newsroom/article/0,,id=201115,00.html</FONT></A><o:p></o:p></SPAN></P>
<P style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt"><FONT face=Arial>The Internal Revenue Service today announced in Revenue Ruling 2008-54 that interest rates for the calendar quarter beginning Jan. 1, 2009 will drop by one percentage point. See article for new rates.</FONT></SPAN></P>
<P style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt"><FONT face=Arial><o:p></o:p></FONT></SPAN> </P>
<P style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt"><o:p><FONT face=Arial> </FONT></o:p></SPAN></P>
<H2 style="MARGIN: 0in 0in 0pt; mso-line-height-alt: 10.5pt"><SPAN style="FONT-SIZE: 11pt; COLOR: blue"><FONT face=Arial>IRS Issues Fall 2008 Statistics of Income Bulletin<o:p></o:p></FONT></SPAN></H2>
<H2 style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10.5pt"><SPAN style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; mso-bidi-font-weight: bold"><A href="http://www.irs.gov/newsroom/article/0,,id=200506,00.html"><FONT face=Arial color=#0000ff>http://www.irs.gov/newsroom/article/0,,id=200506,00.html</FONT></A></SPAN><SPAN style="FONT-WEIGHT: normal; FONT-SIZE: 10pt"><o:p></o:p></SPAN></H2>
<H2 style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10.5pt"><FONT face=Arial><SPAN style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; COLOR: windowtext; mso-bidi-font-weight: bold">The Internal Revenue Service today released the fall 2008 issue of the Statistics of Income Bulletin, which features information on 138.4 million individual income tax returns filed for tax year 2006.</SPAN></FONT></H2>
<H2 style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10.5pt"><FONT face=Arial><SPAN style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; COLOR: windowtext; mso-bidi-font-weight: bold"></SPAN><SPAN style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; COLOR: windowtext"><o:p></o:p></SPAN></FONT> </H2>
<P style="MARGIN: 0in 0in 0pt"><B style="mso-bidi-font-weight: normal"><SPAN style="FONT-SIZE: 11pt; COLOR: blue"><o:p><FONT face=Arial> </FONT></o:p></SPAN></B></P><SPAN style="FONT-SIZE: 11pt; COLOR: blue"><o:p><FONT face=Arial color=#000000 size=2>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><B><SPAN style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: Arial">New on IRS.gov: Small business Video and Audio Presentations<o:p></o:p></SPAN></B></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">A <A title=http://www.irs.gov/businesses/small/article/0,,id=97726,00.html href="http://www.irs.gov/businesses/small/article/0,,id=97726,00.html"><SPAN style="COLOR: windowtext; TEXT-DECORATION: none; text-underline: none">new page</SPAN></A> on IRS.gov features video and audio presentations on a variety of topics for small businesses and self-employed taxpayers. Visit it here: <A href="http://www.irs.gov/businesses/small/article/0,,id=97726,00.html"><FONT color=#0000ff>http://www.irs.gov/businesses/small/article/0,,id=97726,00.html</FONT></A><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p> </o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">An online <A title=http://www.irs.gov/businesses/small/article/0,,id=200424,00.html href="http://www.irs.gov/businesses/small/article/0,,id=200424,00.html"><SPAN style="COLOR: windowtext; TEXT-DECORATION: none; text-underline: none">audio podcast</SPAN></A> for first-time Schedule C filers includes basic tips to help new business owners avoid potential problems. Visit it here: <A href="http://www.irs.gov/businesses/small/article/0,,id=200424,00.html"><FONT color=#0000ff>http://www.irs.gov/businesses/small/article/0,,id=200424,00.html</FONT></A><o:p></o:p></SPAN></P></FONT></o:p></SPAN>
<P style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 11pt; COLOR: blue"><o:p><FONT face=Arial color=#000000 size=2></FONT></o:p></SPAN> </P>
<P style="MARGIN: 0in 0in 0pt"><B style="mso-bidi-font-weight: normal"><SPAN style="FONT-SIZE: 11pt; COLOR: blue"><FONT face=Arial></FONT></SPAN></B> </P>
<P style="MARGIN: 0in 0in 0pt"><B style="mso-bidi-font-weight: normal"><SPAN style="FONT-SIZE: 11pt; COLOR: blue"><FONT face=Arial><FONT color=#000000><FONT size=4>Recent Articles from e-News for Small Businesses<o:p></o:p></FONT></FONT></FONT></SPAN></B></P>
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<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><B><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><FONT color=#0000ff>SBAs frequently asked questions<o:p></o:p></FONT></SPAN></B></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">The latest update to the Small Business Administrations Office of Advocacy small business publication, <U><SPAN style="COLOR: blue"><A href="http://www.sba.gov/advo/stats/sbfaq.pdf"><FONT color=#0000ff>Frequently Asked Questions</FONT></A></SPAN></U>, has a variety of statistical data and other information for small businesses. <o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><B><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p> </o:p></SPAN></B></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><B><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><FONT color=#0000ff>APA reminders for a successful year-end<o:p></o:p></FONT></SPAN></B></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">The American Payroll Association has some tried-and-true <U><SPAN style="COLOR: blue"><A href="http://www.americanpayroll.org/pdfs/gov/08m20year-endtips.pdf">tips</A></SPAN></U> to help ease year-end processing for employers. <o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><B><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p> </o:p></SPAN></B></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><B><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><FONT color=#0000ff>Information on SBTV.com<o:p></o:p></FONT></SPAN></B></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Visit SBTV.coms <U><SPAN style="COLOR: blue"><A href="http://www.sbtv.com/Partners/IRS"><FONT color=#0000ff>IRS Partner Page</FONT></A></SPAN></U> for archived videos and other resources. <o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><B><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p> </o:p></SPAN></B></P>
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<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p></o:p></SPAN></P>
<DIV><B><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><FONT color=#0000ff>Due date extended for some 2008 returns<o:p></o:p></FONT></SPAN></B></DIV>
<P></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Since Feb. 28 is a Saturday, the deadline for filing 2008 returns normally due that day is extended to March 2. This includes: <o:p></o:p></SPAN></P>
<UL style="MARGIN-TOP: 0in" type=disc>
<LI class=MsoNormal style="MARGIN: 0in 0in 0pt; mso-list: l1 level1 lfo2; tab-stops: list .5in"><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><A href="http://www.irs.gov/instructions/iw2w3/index.html"><FONT color=#0000ff>Form W-2</FONT></A><FONT color=#0000ff>,</FONT> Wage and Tax Statement (for wages paid to employees) <o:p></o:p></SPAN>
<LI class=MsoNormal style="MARGIN: 0in 0in 0pt; mso-list: l1 level1 lfo2; tab-stops: list .5in"><U><SPAN style="FONT-SIZE: 10pt; COLOR: blue; FONT-FAMILY: Arial"><A href="http://www.irs.gov/instructions/i1099msc/index.html"><FONT color=#0000ff>Form 1099-MISC</FONT></A></SPAN></U><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">, Miscellaneous Income (for payments made in the course of a trade or business to nonemployees) <o:p></o:p></SPAN>
<LI class=MsoNormal style="MARGIN: 0in 0in 0pt; mso-list: l1 level1 lfo2; tab-stops: list .5in"><U><SPAN style="FONT-SIZE: 10pt; COLOR: blue; FONT-FAMILY: Arial"><A href="http://www.irs.gov/businesses/small/article/0,,id=188360,00.html"><FONT color=#0000ff>Form 8027</FONT></A></SPAN></U><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">, Employers Annual Information Return of Tip Income and Allocated Tips <o:p></o:p></SPAN></LI></UL>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Electronic filers have until March 31 to file these returns. <o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p> </o:p></SPAN></P>
<P style="MARGIN: 0in 0in 0pt">
<P style="MARGIN: 0in 0in 0pt"><A href="http://www.irs.gov/businesses/small/content/0,,id=154826,00.html"><FONT face=Arial></FONT></A><SPAN style="FONT-SIZE: 10pt; COLOR: windowtext"><o:p></o:p></SPAN></P>
<DIV><FONT face=Arial><o:p> </o:p><SPAN style="FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: Arial"><o:p> <SPAN class=072432819-15122008><FONT color=#0000ff> </FONT></SPAN></o:p></SPAN></FONT></DIV>
<DIV></FONT><SPAN class=819251718-15122008><FONT face=Arial size=4><STRONG>Technical Guidance</STRONG></FONT></SPAN></DIV>
<DIV><SPAN class=819251718-15122008><FONT face=Arial size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=819251718-15122008><A title=http://www.irs.gov/pub/irs-drop/n-08-104.pdf href="http://www.irs.gov/pub/irs-drop/n-08-104.pdf"><FONT face=Arial size=2>Notice 2008-104</FONT></A><FONT face=Arial size=2> provides additional transition relief with respect to the use of debit cards for medical expense reimbursements at stores with the Drug Stores and Pharmacies merchant category code.</FONT> </SPAN></DIV>
<DIV><SPAN class=819251718-15122008><FONT face=Arial size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=819251718-15122008><A title=http://www.irs.gov/pub/irs-drop/rr-08-54.pdf href="http://www.irs.gov/pub/irs-drop/rr-08-54.pdf"><FONT face=Arial size=2>Revenue Ruling 2008-54</FONT></A><FONT face=Arial><FONT size=2> provides the rates for interest on tax overpayment and underpayments for the calendar quarter beginning January 1, 2009. The interest rates will be 5 percent for overpayments (4 percent in the case of a corporation), 5 percent for underpayments, 2.5 percent for the portion of a corporation overpayment exceeding $10,000, and 7 percent for large corporate underpayments. The quarterly determination is required by section 6621 of the Internal Revenue Code.<SPAN class=072432819-15122008><FONT color=#0000ff> </FONT></SPAN></FONT></FONT></SPAN></DIV>
<DIV><SPAN class=819251718-15122008> </DIV></SPAN>
<DIV><SPAN class=819251718-15122008><A title=http://www.irs.gov/pub/irs-drop/n-08-112.pdf href="http://www.irs.gov/pub/irs-drop/n-08-112.pdf"><FONT face=Arial size=2>Notice 2008-112</FONT></A><FONT face=Arial size=2> provides guidance as to the corporate bond weighted average interest rate and the permissible range of interest rates specified under § 412(b)(5)(B)(ii)(II) of the Internal Revenue Code. It also provides guidance on the corporate bond monthly yield curve (and the corresponding spot segment rates), the 24-month average segment rates, and the funding transitional segment rates under § 430(h)(2). In addition, this notice provides guidance as to the interest rate on 30-year Treasury securities under § 417(e)(3)(A)(ii)(II) as in effect for plan years beginning before 2008, and the minimum present value segment rates under § 417(e)(3)(D) as in effect for plan years beginning after 2007.</FONT> </SPAN></DIV>
<DIV><SPAN class=819251718-15122008><FONT face=Arial size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=819251718-15122008><A title=http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=2008_register&docid=DOCID:fr05de08-22 href="http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=2008_register&docid=DOCID:fr05de08-22"><FONT face=Arial size=2>REG-158747-06</FONT></A><FONT face=Arial size=2> contains proposed regulations relating to withholding under section 3402(t) of the Internal Revenue Code (Code). The proposed regulations reflect changes in the law made by the Tax Increase Prevention and Reconciliation Act of 2005 that require Federal, State, and local government entities to withhold income tax when making payments to persons providing property or services. These proposed regulations provide guidance to assist the government entities in complying with section 3402(t). The regulations also provide certain guidance to persons receiving payments for property or services from government entities. This document also contains proposed amendments to regulations under sections 3406, 6011, 6051, 6071, and 6302 of the Code.</FONT></SPAN></DIV>
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<DIV><SPAN class=819251718-15122008><A title=http://www.irs.gov/pub/irs-drop/n-08-113.pdf href="http://www.irs.gov/pub/irs-drop/n-08-113.pdf"><FONT face=Arial size=2>Notice 2008-113</FONT></A><FONT face=Arial size=2> gives taxpayers the ability to correct certain operational failures to comply with section 409A of the Internal Revenue Code,, or to limit the amount of additional taxes due to the failure to comply with section 409A. Section 409A provides rules governing the taxation of nonqualified deferred compensation plans. The notice expands upon and clarifies the program announced last year in Notice 2007-100, 2007-52 IRB 1243.</FONT> </SPAN></DIV>
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<DIV><SPAN class=819251718-15122008><A title=http://www.irs.gov/pub/irs-drop/n-08-115.pdf href="http://www.irs.gov/pub/irs-drop/n-08-115.pdf"><FONT face=Arial size=2>Notice 2008-115</FONT></A><FONT face=Arial size=2> provides guidance to employers and payers on their reporting and wage withholding requirements for calendar year 2008 with respect to deferrals of compensation and amounts includible in gross income under section 409A of the Internal Revenue Code. In addition, this notice provides guidance to service providers on their income tax reporting and tax payment requirements with respect to amounts includible in gross income under section 409A.</FONT> </SPAN></DIV>
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<DIV><SPAN class=819251718-15122008><A title=http://www.irs.gov/pub/irs-drop/rp-08-68.pdf href="http://www.irs.gov/pub/irs-drop/rp-08-68.pdf"><FONT face=Arial size=2>Revenue Procedure 2008-68</FONT></A><FONT face=Arial size=2> provides temporary guidance regarding certain stock distributions by publicly traded corporations that are real estate investment trusts (REITs). For stock dividends declared on or after January 1, 2008 and before December 31, 2009, the Service will treat a stock distribution by a publicly traded real estate investment trust (REIT) pursuant to a stock-in-lieu-of-money election (under the terms defined in the revenue procedure) as a distribution of property to which section 301 applies by reason of section 305(b), and the amount of such distribution of stock will be considered to equal the amount of the money which could have been received instead.</FONT> </SPAN></DIV>
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<DIV><SPAN class=819251718-15122008><A title=http://www.irs.gov/pub/irs-drop/n-08-116.pdf href="http://www.irs.gov/pub/irs-drop/n-08-116.pdf"><FONT face=Arial size=2>Notice 2008-116</FONT></A><FONT face=Arial size=2> provides interim guidance with regard to the application of the 2-percent floor under section 67 to certain investment advisory fees. Specifically, this notice provides that, for taxable years beginning before January 1, 2009, non-grantor trusts and estates will not be required to unbundled a fiduciary fee into portions consisting of costs that are fully deductible and costs that are subject to the 2-percent floor.<SPAN class=072432819-15122008><FONT color=#0000ff> </FONT></SPAN></FONT></SPAN></DIV>
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<DIV><SPAN class=819251718-15122008><FONT face=Arial size=2><A title=http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=2008_register&docid=fr12de08-5 href="http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=2008_register&docid=fr12de08-5">TD 9434</A> contains final regulations providing guidance regarding when and to what extent creditors of a corporation will be treated as proprietors of the corporation in determining whether continuity of interest (COI) is preserved in a potential reorganization. These final regulations are necessary to provide clarity to parties engaging in reorganizations of insolvent corporations, both inside and outside of bankruptcy. These final regulations affect corporations, their creditors, and their shareholders. </DIV></FONT></SPAN>
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<DIV><SPAN class=819251718-15122008><A title=http://www.irs.gov/pub/irs-drop/n-09-04.pdf href="http://www.irs.gov/pub/irs-drop/n-09-04.pdf"><FONT face=Arial size=2>Notice 2009-04</FONT></A><FONT face=Arial size=2> describes methodologies that the IRS is considering publishing as safe harbors to be used in the determination of basis in stock that is acquired in a B reorganization or other transferred basis transaction. The methodologies are intended to respond to significant changes in market practice, and the issues raised by those changes, since the publication of Rev. Proc. 81-70, 1981-2 C.B. 729. Also, the notice requests comments on the proposed methodologies and provides that, pending further guidance, taxpayers may rely on the safe harbors set forth in the notice.<SPAN class=072432819-15122008><FONT color=#0000ff> </FONT></SPAN></FONT></SPAN></DIV>
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