Ron Whitney Resumes IRS/IRPAC Meetings On Behalf Of IRTA (Barter Industry)
February 4th, 2008 · by Bob Meyer · 1 CommentThe International Reciprocal Trade Association’s (IRTA) Executive Director, Ron Whitney, continued his efforts to alleviate the IRS non-matching TIN problems many owners are currently suffering through.
Meetings resumed on January 26 & 27th 2008 in Washington D.C. and Whitney continued to push for implementation of the recommendations that were presented at last year’s October 24, 2007 IRPAC Public Meeting Report, specifically that:
* New language be considered for the B-Notices that are specific to the barter industry, and or;
* Publication 1281 be amended to reflect the issues unique to the barter industry.
Additionally, Whitney met with Nina Olson, National Taxpayer Advocate, and alerted her to a systemic problem the barter industry is currently experiencing.
Many exchanges have reported that they have been hit with civil penalties for non-matching TINS without ever receiving a 972CG Notice of Proposed Penalty Letter. Rather, these exchanges have received a CP-2100 notice that simply alerts exchanges of the accounts that have non-matching TIN problems, but does not assert a penalty will be forthcoming.
Exchanges should receive a 972CG Notice of Proposed Penalty letter after they receive the CP-2100 letter, but in many cases this is not happening, and the cases are going directly to penalty and collection.
Mr. Whitney received assurances from Nina Olson that this problem would be looked into by the National Taxpayers Advocates office with the hope that it will be corrected soon.
Editor’s Note: The services being provided by IRTA for the commercial barter industry are invaluable. Membership benefits far outweigh the membership dues.
Ron D. Whitney
Executive Director, IRTA
PH: 757-393-2292
Fax:: 757-257-4014
Skype I.D.: Ron.D.Whitney
This entry was posted on Monday, February 4th, 2008 at 10:35 am and is filed under Industry News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
February 25th, 2008 at 6:20 am
This is an industry first to have a relationship between the IRS and our best industry representative, IRTA. I went to Washington and personally observed the interaction between Ron Whitney (IRTA Executive Director) and the various executive IRS staff members. It was very impressive. Our industry now has a spokesman at the very highest level of the IRS.
Ron is designing an IRTA consulting staff now to offer top level insight to individual trade exchanges. This will be a LOT better and cheaper than the way we had to learn about IRS and other problems in the past, using the “School of hard knocks.”