FROM THE OFFICE OF PUBLIC AFFAIRS
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July 26, 2004
JS-1814
Department of the Treasury
2004 - 2005 Priority Guidance Plan
Joint Statement by:
Gregory F. Jenner
Acting Assistant Secretary (Tax Policy)
U.S. Department of the Treasury
Mark W. Everson
Commissioner
Internal Revenue Service
Donald L. Korb
Chief Counsel
Internal Revenue Service
July 26, 2004
We are pleased to announce the release of the 2004 - 2005 Priority Guidance Plan.
In Notice 2004-26, we solicited suggestions from all interested parties, including taxpayers, tax practitioners, and industry groups. We recognize the importance of public input to formulate a Priority Guidance Plan that focuses resources on guidance items that are most important to taxpayers and tax administration.
We are committed to increased and more timely published guidance. The 2004 - 2005 Priority Guidance Plan contains 276 projects to be completed over a twelve-month period, from July 2004 through June 2005. In addition to the items on this year's plan, the Appendix lists the more routine guidance that is published each year.
This year's plan also includes two items under the Industry Issue Resolution Program. These items are described in a separate IRS News Release. The Industry Issue Resolution Program demonstrates our continuing efforts to work with taxpayers on a cooperative basis to resolve frequently disputed tax issues.
In 2002, we instituted quarterly updates of the Priority Guidance Plan. We intend to update and republish the Priority Guidance Plan on a quarterly basis again this year. The quarterly updates allow us additional flexibility throughout the plan year to consider comments received from taxpayers and tax practitioners relating to additional projects and to respond to recent developments.
The published guidance process can be fully successful only if we have the benefit of the insight and experience of taxpayers and practitioners who must apply the rules. Therefore, we invite the public to continue to provide us with their comments and suggestions as we write guidance throughout the plan year. Generally, recommendations for guidance will be reviewed for inclusion in the next quarterly update if received by
Additional copies of the 2004 - 2005 Priority Guidance Plan can be obtained from the IRS website on the Internet (www.irs.gov) under Tax Professionals, IRS Resources, Administrative Information and Resources, 2004 - 2005 Priority Guidance Plan. Copies can also be obtained by calling Treasury's Office of Public Affairs at (202) 622-2960.
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