The IRS posted the first edition of the Internal Revenue Bulletin for 2016 (IRB 2016-1, dated January 4, 2016) providing text of the “annual revenue procedures.”
IRB 2016-1 [PDF 937 KB] provides, in 262 pages, the text of these eight revenue procedures for 2016.
The user fees set forth in Rev. Proc. 2016-1 for taxpayer requests for letter rulings, closing agreements, and determination letters from the IRS remain unchanged for 2016.
Among the changes set forth in Rev. Proc. 2016-1 for 2016 are the following:
Among the changes in Rev. Proc. 2016-2 are the following:
Among other changes:
The IRS is expected shortly to publish an update to Rev. Proc. 2009-14—i.e., the revenue procedure setting forth the procedures for obtaining a pre-filing agreement. It is anticipated that the new revenue procedure will include a significant increase in the IRS user fee for participation in the pre-filing agreement program.
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