Pension & Benefits News IRSAC to have extended portfolio beginning in 2019
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Thursday, December 6, 2018

IRSAC to have extended portfolio beginning in 2019

By Pension and Benefits Editorial Staff

The IRS has announced that the Internal Revenue Service Advisory Committee’s (IRSAC’s) role will expand in 2019 to have a wider portfolio and incorporate two other advisory groups. The expanded IRSAC will include areas currently covered by both the Information Reporting Program Advisory Committee (IRPAC) and the Advisory Committee on Tax Exempt and Government Entities (ACT). Although ACT will no longer exist, the IRS emphasizes that Tax Exempt and Government Entities issues will remain a priority area in the expanded IRSAC.

According to the IRS, the three groups—IRSAC, IRPAC and ACT—frequently had common overlapping issues such as technology modernization and digital services. In addition, these groups had members who had insight into wider tax administration issues beyond their individual advisory groups. Following discussions, the groups agreed that the new IRSAC will adjust its structure to focus on four subcommittees tracking the four IRS operating divisions: Wage and Investment, Small Business and Self Employed, Tax Exempt and Government Entities, and Large Business and International. Finally, other groups under the Federal Advisory Committee Act like the Electronic Tax Administration Advisory Committee would be unaffected by this change.

SOURCE: IRS News Release IR- 2018-212.

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