July 10, 2014 4:52 AM ET

Commercial Services and Supplies

Company Overview of Internal Revenue Service

Company Overview

Internal Revenue Service provides tax administration services to the American public. The agency collects taxes and enforces the tax laws. It provides tax information for Individuals, businesses, tax exempt and government entities (TE/GE), Government entities, tax professionals, retirement plans community, and tax exempt bond community. The agency also offers tax related information to taxpayers. Internal Revenue Service was formerly known as The Bureau of Internal Revenue. Internal Revenue Service was founded in 1862 and is headquartered in Washington, District Of Columbia.

1111 Constitution Avenue North West

Washington, DC 20224

United States

Founded in 1862

Phone:

800-829-1040

Fax:

800-829-4477

Key Executives for Internal Revenue Service

Commissioner
Age: 74
Chief Financial Officer
Chief Risk Officer
Senior Advisor
Compensation as of Fiscal Year 2014.

Internal Revenue Service Key Developments

The Internal Revenue Service Plans to Close Down its West Chester Office on May 15, 2014

The Internal Revenue Service announced the office at 9075 Centre Pointe Drive in West Chester will close at noon on May 15, 2014. The 23 employees there will then be consolidated into the IRS office 20 miles away at the J.W. Peck Federal Building at 550 Main St. in Cincinnati. The West Chester office offers services to help with individual tax returns and tax documents. The taxpayer assistance center will remain open until May 15, and that the Cincinnati office, which already has several hundred employees, will then house that service. When that office shuts down, the only IRS office in the Dayton region will be in the Dayton Federal Building downtown at 200 W. Second St.

Lamar Advertising Company Announces Receipt of U.S. Internal Revenue Service Private Letter Ruling

Lamar Advertising Company announced that it has received its requested private letter ruling from the U.S. Internal Revenue Service regarding certain matters relevant to its intended election to be taxed as a real estate investment trust under the Internal Revenue Code of 1986, as amended. Lamar intends to make an election under -1033(g)(3) of the code to treat its outdoor advertising displays as real property for tax purposes. The private letter ruling confirms, among other matters, that Lamar's income from renting space on such outdoor advertising displays qualifies as rents from real property for REIT purposes. Lamar's conversion to REIT status is expected to be effective as of January 1, 2014. Lamar completed an internal corporate restructuring at the end of 2013 so that it would be in compliance with applicable REIT rules for the 2014 taxable year. Under the new structure, the company holds and operates certain of its assets that cannot be held and operated directly by a REIT through taxable REIT subsidiaries, or TRSs. A TRS is a subsidiary of a REIT that is taxed as a regular corporation. TRSs primarily hold its transit advertising business and foreign operations in Canada and Puerto Rico. In addition, its TRSs perform certain activities and services for its customers that a REIT cannot perform directly. The TRS assets and operations would continue to be subject, as applicable, to federal and state corporate income taxes. Furthermore, assets and operations outside the United States will continue to be subject to foreign taxes in the jurisdictions in which those assets and operations are located.

Internal Revenue Service Announces Seven New Members for Information Reporting Program Advisory Committee

The Internal Revenue Service announced the selection of seven new members for the Information Reporting Program Advisory Committee (IRPAC). The new appointees will join 13 returning members. Committee members represent the taxpaying public, tax professionals, small and large businesses, the financial industry and payroll providers. The following people have been appointed to serve on the committee for three-year terms beginning in 2014: Robert J. Birch is Director of Corporate Tax at Wellmark Inc. in Des Moines, Iowa. He has over 35 years of experience with tax information reporting. Birch is a member of the Board of Directors of the Tax Executives Institute Inc. and the first president of the IOWA TEI Chapter. Beatriz Castaneda is Director Client Reporting at Charles Schwab and Co. Inc. in San Francisco. She has 14 years of tax reporting experience at Charles Schwab. Castaneda is a member of the Financial Information Forum (FIF) Cost Basis Working Group and FATCA (Foreign Account Tax Compliance Act) Group. She is also a member of the Securities Industry and Financial Markets Association (SIFMA) Tax Compliance Committee and Cost Basis Working Group. Ernesto S. Castro is Manager of Government Relations at Ultimate Software Group Inc. in Santa Ana, Calif. He has more than 20 years of experience working with tax information reporting with a concentration in compliance and problem resolution. Castro is a founding member of the National Association of Tax Reporting and Payroll Management. Roseann M. Cutrone is Tax Counsel with Skadden, Arps, Slate, Meagher and Flom, LLP, in Washington, D.C. She has worked for 27 years as tax counsel with information reporting and withholding issues. Cutrone has represented clients including large domestic and foreign commercial banks, investment funds and other entities with respect to all aspects of their information reporting and withholding obligations. Carolyn Diehl is Tax Compliance Officer and Vice President with National Financial Services, LLC, in Jersey City, N.J. She has worked in the financial industry for more than 35 years as both a tax preparer and compliance officer for a leading financial services firm specializing in high net worth clients and as a compliance officer for a large broker/dealer organization. Diehl is a member of the SIFMA tax compliance committee and participates in dialogue on cost basis and FATCA with the Financial Information Forum (FIF). Michael W. Gangwer is Associate Tax Advisor in the Legal Department of The Vanguard Group Inc. in Valley Forge, Pa. He has worked at Vanguard in information reporting for more than 10 years. He currently serves as the lead technical consultant for information reporting and tax withholding for Vanguard's retail, institutional retirement and brokerage tax reporting and cost basis departments. Gangwer is a member of the Society of Financial Service Professionals, Investment Company Institute and the Securities Institute and Financial Markets Association. Darrell D. Granahan is Vice President, Payment at First Data Corp. in Omaha, Neb. He has worked for First Data Corp. for 17 years. First Data is an electronic payment facilitator/payment settlement entity. Granahan serves on Thomson Reuters - ONESOURCE Tax Information Reporting Advisory Board, is a member of Information Systems Audit and Control (ISACA), and the Institute of Internal Auditors (IIA). The 2014 IRPAC Chairman is Boyd Brown, Benefits Tax Counsel in the Global Tax and Trade group at Intel Corp. in Santa Clara, Calif. He has worked for more than 20 years in the compensation and benefits area. Brown serves as tax counsel supporting Human Resources, Compensation and Benefits, Payroll, Legal, HR Legal, and Compensation and Benefits Accounting.

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