IRS Seeks Recommendations For 2008-2009 Guidance Priority List

by Mike Godfrey, for LawAndTax-News.com, Washington

21 April 2008

The United States Treasury Department and the Internal Revenue Service (IRS) have invited public comment on recommendations for items that should be included on the 2008-2009 Guidance Priority List.

The Treasury Department's Office of Tax Policy and IRS use the Guidance Priority List each year to identify and prioritize the tax issues that should be addressed through regulations, revenue rulings, revenue procedures, notices, and other published administrative guidance.

The Guidance Priority List focuses resources on guidance items that are most important to taxpayers and tax administration.

Published guidance plays an important role in increasing voluntary compliance by helping to clarify ambiguous areas of the tax law.

The 2008-2009 Guidance Priority List will establish the guidance that the Treasury Department and IRS intend to issue from 1st July, 2008, through 30th June, 2009.

In reviewing recommendations and selecting projects for inclusion on the 2008-2009 Guidance Priority List, the Treasury Department and the IRS will consider the following:

• Whether the recommended guidance resolves significant issues relevant to many taxpayers;
• Whether the guidance may be appropriate for enhanced public involvement through the process described in Notice 2007-17, 2007-12 I.R.B. 748;
• Whether the recommended guidance promotes sound tax administration;
• Whether the recommended guidance can be drafted in a manner that will enable taxpayers to understand and apply the guidance easily;
• Whether the IRS can administer the recommended guidance on a uniform basis; and
• Whether the recommended guidance reduces controversy and lessens the burden on taxpayers or the IRS.

Recommendations need to be submitted by 31st May, 2008, for possible inclusion on the original 2008-2009 Guidance Priority List.

Recommended