Compliance March 12, 2012

IRS Calls for Recommendations for Guidance Priority List

The Department of Treasury and the Internal Revenue Service have invited public comment on recommendations for items that should be included on the 2012-2013 Guidance Priority List.
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Notice 2012-25 says the Treasury Department’s Office of Tax Policy and the Service 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 2012-2013 Guidance Priority List will establish the guidance that the Treasury Department and the Service intend to work on from July 1, 2012, through June 30, 2013. 

In reviewing recommendations and selecting projects for inclusion on the 2012-2013 Guidance Priority List, the Treasury Department and the Service will consider the following:

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1. Whether the recommended guidance resolves significant issues relevant to many taxpayers;

2. Whether the recommended guidance promotes sound tax administration;

3. Whether the recommended guidance can be drafted in a manner that will enable taxpayers to easily understand and apply the guidance;

4. Whether the recommended guidance involves regulations that are outmoded, ineffective, insufficient or excessively burdensome and that should be modified, streamlined, expanded or repealed;

5. Whether the Service can administer the recommended guidance on a uniform basis; and

6. Whether the recommended guidance reduces controversy and lessens the burden on taxpayers or the Service.

Recommendations must be submitted by May 1, 2012.  

Notice 2012-25 is available at http://www.irs.gov/pub/irs-drop/n-12-25.pdf.

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