IRS And US Treasury Update Tax Priority Policy For 2003/2004

by Mike Godfrey, Tax-News.com, Washington

05 November 2003

On Monday this week, the United States Treasury Department and the Internal Revenue Service released an updated version of their priority guidance plan for tax policy issues in 2003/2004.

In a joint statement, Assistant Treasury Secretary for Tax Policy Pamela Olson, IRS Commissioner Mark Everson and IRS Acting Chief Counsel Emily Parker said: “On July 24, 2003, we released the 2003 - 2004 Priority Guidance Plan listing 268 projects for the plan year beginning July 1, 2003 and ending June 30, 2004. In our Joint Statement that accompanied the release of the 2003 - 2004 Priority Guidance Plan, we emphasized our commitment to increased and more timely published guidance. We indicated that we would update the plan quarterly to reflect additional guidance that we intend to publish during the plan year. Updating the plan also provides flexibility to respond to developments arising during the year.”

“The update sets forth the guidance on the original 2003 - 2004 Priority Guidance Plan that we have published. Although the update may indicate that a particular item on the plan has been completed, it is possible that one or more additional projects may be completed in the plan year relating to that item. The update also includes 20 items of additional guidance, some of which have already been published.

“We continue to invite the public to provide us with comments and suggestions as we identify and write guidance throughout the plan year.”

The full text of the updated Priority Guidance Plan For Tax Policy Issues In 2003/2004 can be found in the Tax News Resources Section

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