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August 16, 2011 at 08:00 PM
Tax accounting issues of interest to variable annuity issuers have made it onto the guidance development project list at the Internal Revenue Service (IRS).
The IRS creates the guidance to-do list by inviting business taxpayers and business associations to send requests for help with tax concerns to an Industry Issue Resolution (IIR) program.
Taxpayers and associations have until Aug. 31 to participate in the current round of IIR project request reviews, officials say.
The IRS is looking into the variable tax issues at the request of several accounting firms.
