IR-2003-52 -- REVISED INDUSTRY ISSUE RESOLUTION PROGRAM

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The following explains the method of presenting a proposal for changes to IRS procedures.  Perhaps we can reverse REV.PROC 2003-23's demands for forms 3520 and 3520-A to be filed for Canadian RRSP, RPP and RRIF accounts.
If you wish to add your voice to the submission I will be making, please email (and snailmail your signed original) your opinions, concerns, doubts and possible solutions to me. My mailing address is at the bottom.   Please note that I need everything by May 10th or so.
Please also note that there will be another pro America Rally this next Saturday, April 24th at 11 AM at the Seaforth Park at the south end of the Burrard Street Bridge.  Bring your American, Canadian, Australian, Mexican, Great Britain and other flags and any home made signs you may desire.  This is NOT a pro war rally.  It is a solidarity rally to get things moving again and let the US population know that Canadians are friends even if some of our federal politicians do not seem to get it.  I also recommend Fazil Mihlar's column on page A6 of the April 21, 2003 Vancouver Sun.  This column "Free trade is a friend of the Environment" gives some very interesting statistics.  
For those who want to know more about the new reporting for Americans or American residents with Canadian RRSP, RPP or RRIF accounts, read Jonathon Chevreau's column on FP12 in the National Post on April 15th, or emailk for a copy of my newsletter on the subject if you killed it.
 
david ingram
IR-2003-52
REVISED INDUSTRY ISSUE RESOLUTION PROGRAM PROCEDURES PUBLISHED; NEXT
SELECTIONS MADE FROM REQUESTS RECEIVED BY MAY 15, 2003
WASHINGTON - The Internal Revenue Service has published revised
procedures for the Industry Issue Resolution (IIR) Program. Under the
revised procedures, business taxpayers, industry associations and other
interested parties can submit frequently disputed or burdensome business
tax issues at any time for possible resolution under the program.
In past years, issues have been submitted by industry associations and
others representing both small and large business taxpayers. These
submissions have resulted in tax guidance that has affected thousands of
taxpayers. Recent guidance issued under the IIR Program includes standard
rates for meals provided by family day care providers and an inventory
valuation method for re-buildable motor vehicle cores.
Requests received will be reviewed semi-annually, generally after
March 31 and August 31 of each year, for inclusion in the program.
However, to allow time for initial IIR submissions, the March 31 review
date has been changed to May 15, 2003, for this year. All requests
received by May 15, 2003, will be considered for IIR project selections
that are expected to be included in the 2003-2004 Treasury and IRS
Guidance Priority List.
For each issue selected for the program, IIR team consisting of IRS and
Treasury personnel will meet with taxpayers or other interested parties
affected by the issue. The goal is to recommend guidance which will
resolve the tax issue. This benefits both taxpayers and IRS by saving time
and expense that would otherwise be expended on resolving the issue
through examinations.
For information on the IIR Program and how to submit issues for
consideration, see Revenue Procedure 2003-36 at www.irs.gov.
=======================================================
David Ingram of the CEN-TA Group
US / Canada / Mexico tax and working Visa Specialists
108-100 Park Royal South
West Vancouver, BC, CANADA, V7T 1A2
(604) 913-9133 - Fax 913-9123 [email protected]
www.centa.com www.david-ingram.com
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