Friday, August 30, 2019

IRS announces dyed diesel penalty waiver for Florida in advance of Hurricane Doran

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IRS Newswire Aug. 30, 2019

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Issue Number:    IR-2019-148

Inside This Issue

 

IRS announces waiver of dyed fuel penalty in Florida due to Hurricane Dorian

 

IR-2019-148

 

WASHINGTON – To minimize or prevent disruptions to the supply of fuel for diesel-powered highway vehicles because of Hurricane Dorian, the Internal Revenue Service announced today it will not impose a penalty when dyed diesel fuel is sold for use or used on the highway in the State of Florida.

This relief is effective immediately. Consistent with the Environmental Protection Agency waiver for Florida allowing the sale, distribution, and use of red dyed Non-Road Diesel Locomotive and Marine fuel in the State of Florida for use in highway diesel vehicles, this relief will remain in effect through Sept. 15, 2019.  

This penalty relief is available to any person that sells or uses dyed fuel for highway use. In the case of the operator of the vehicle in which the dyed fuel is used, the relief is available only if the operator or the person selling the fuel pays the tax of 24.4 cents per gallon that is normally applied to diesel fuel for highway use. The IRS will not impose penalties for failure to make semimonthly deposits of this tax. IRS Publication 510, Excise Taxes, has information on the proper method for reporting and paying the tax.

Ordinarily, dyed diesel fuel is not taxed, because it is sold for uses exempt from excise tax, such as to farmers for farming purposes, for home heating use and to local governments for buses.

Also, consistent with the EPA waiver, this waiver does not apply to the Internal Revenue Code penalty for using adulterated fuels that do not comply with applicable EPA regulations.  Consequently, diesel fuel with sulfur content higher than 15 parts-per-million may not be used in highway vehicles.

The IRS is closely monitoring the situation and will provide additional relief as needed.

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Tax Tip 2019-119: Here’s what tax professionals should know about creating a data security plan

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Issue Number:    Tax Tip 2019-119


Here's what tax professionals should know about creating a data security plan

Tax pros must create a written security plan to protect their clients' data. In fact, the law requires them to make this plan. 

Creating a data security plan is one part of the new Taxes-Security-Together Checklist. The IRS and its Security Summit partners created this checklist. It helps tax professionals protect sensitive data in their offices and on their computers.

Many tax preparers may not realize they are required under federal law to have a data security plan. Each plan should be tailored for each specific office. When creating it, the tax professional should take several factors into consideration. This includes things like the company's size, the nature of its activities, and the sensitivity of its customer information.

Creating a plan
Tax professionals should make sure to do these things when writing and following their data security plans:

  • Include the name of all information security program managers.
  • Identify all risks to customer information.
  • Evaluate risks and current safety measures.
  • Design a program to protect data.
  • Put the data protection program in place.
  • Regularly monitor and test the program.

Selecting a service provider
Companies should have a written contract with their service provider. The provider must:

  • • Maintain appropriate safety measures.
    • Oversee the handling of customer information review.
    • Revise the security program as needed.

More information:

Share this tip on social media -- #IRSTaxTip: Here's what tax professionals should know about creating a data security plan  https://go.usa.gov/xV2uy

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