- Under the Jobs and Growth Tax Relief Reconciliation Act of 2003, the general tax rates applicable to net capital gains for
individuals have
been reduced. The new gains rates also apply to qualified dividends under the new section 1(h)(11). The new rates apply to
capital gains (including
installment payments) occurring on or after May 6, 2003. The tax rates for qualified dividends apply to dividends received
after December 31, 2002.
Schedules K and K-1 have been redesigned to take into account the shareholders' shares of these gains and dividends.
- The instructions for line 4 of Form 1120S and line 23 of Schedule K-1 have been revised to change how dispositions of property
are reported
if a section 179 expense deduction was passed through to shareholders for the property.
Photographs of Missing Children
The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Photographs of
missing children
selected by the Center may appear in instructions on pages that would otherwise be blank. You can help bring these children
home by looking at the
photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child.
If the corporation has attempted to deal with an IRS problem unsuccessfully, it should contact the Taxpayer Advocate. The
Taxpayer Advocate
independently represents the corporation's interests and concerns within the IRS by protecting its rights and resolving problems
that have not been
fixed through normal channels.
While Taxpayer Advocates cannot change the tax law or make a technical tax decision, they can clear up problems that resulted
from previous
contacts and ensure that the corporation's case is given a complete and impartial review.
The corporation's assigned personal advocate will listen to its point of view and will work with the corporation to address
its concerns. The
corporation can expect the advocate to provide:
- A "fresh look" at a new or ongoing problem.
- Timely acknowledgment.
- The name and phone number of the individual assigned to its case.
- Updates on progress.
- Timeframes for action.
- Speedy resolution.
- Courteous service.
When contacting the Taxpayer Advocate, the corporation should provide the following information:
- The corporation's name, address, and employer identification number (EIN).
- The name and telephone number of an authorized contact person and the hours he or she can be reached.
- The type of tax return and year(s) involved.
- A detailed description of the problem.
- Previous attempts to solve the problem and the office that had been contacted.
- A description of the hardship the corporation is facing (if applicable).
The corporation may contact a Taxpayer Advocate by calling a toll-free number, 1-877-777-4778 or by visiting the IRS website at
www.irs.gov/advocate. Persons who have access to TTY/TDD equipment may call 1-800-829-4059 and ask for Taxpayer Advocate assistance.
If the
corporation prefers, it may call, write, or fax the Taxpayer Advocate office in its area. See Pub. 1546, The Taxpayer Advocate Service of
the IRS, for a list of addresses and fax numbers.
To request a direct deposit of the corporation's income tax refund, attach Form 8050, Direct Deposit of Corporate Tax Refund (see page
18).
How To Make a Contribution To Reduce the Public Debt
To make a contribution to reduce the public debt, send a check made payable to the “Bureau of the Public Debt” to Bureau of the Public Debt,
Department G, P.O. Box 2188, Parkersburg, WV 26106-2188. Or, enclose a check with Form 1120S. Contributions to reduce the
public debt are deductible,
subject to the rules and limitations for charitable contributions.
How To Get Forms and Publications
Personal computer.
You can access the IRS website 24 hours a day, 7 days a week at
www.irs.gov to:
- Order IRS products online.
- Download forms, instructions, and publications.
- See answers to frequently asked tax questions.
- Search publications online by topic or keyword.
- Send us comments or request help by email.
- Sign up to receive local and national tax news by email.
You can also reach us using file transfer protocol at
ftp.irs.gov.
CD-ROM.
Order
Pub. 1796, Federal Tax Products on CD-ROM, and get:
- Current year forms, instructions, and publications.
- Prior year forms, instructions, and publications.
- Frequently requested tax forms that may be filled in electronically, printed out for submission, and saved for recordkeeping.
- The Internal Revenue Bulletin.
Buy the CD-ROM on the Internet at
www.irs.gov/cdorders from the National Technical Information Service (NTIS) for $22 (no handling fee)
or call
1-877-CDFORMS (1-877-233-6767) toll free to buy the CD-ROM for $22 (plus a $5 handling fee).
By phone and in person.
You can order forms and publications 24 hours a day, 7 days a week, by calling
1-800-TAX-FORM (1-800-829-3676). You can also get most
forms and publications at your local IRS office.
