Area 1 Committee Meeting Minutes

July 6, 2005

Designated Federal Official

• Ramirez, Sandra, Manager, Brooklyn, NY

Committee Members Present (These attendees count for quorum)

• Epstein, Harvey, Lee, NH
• Gadon, Harold, Cranston, RI
• Guthman, Michael, Westport, CT
• Havey, Dorothy, Lincolnville, ME
• Searleman, Sanford, Glens Falls, NY
• Silva, Charles, Provincetown, MA

Committee Members Absent

• Bell, Aaron, Kenmore, NY
• Brodbine-Ghoniem, Elizabeth, Winchester, MA
• Cimino, Philip, Staten Island, NY
• Grimaldi, James, New York, NY
• Nagel, Paul, Glen Cove, NY
• Gorga, Peter, LTA, New York, NY

TAP Staff

• Knispel, Marisa
• Odom-Russell, Meredith
• Ramirez, Sandra

Other Attendees

• No public present.

Welcome

Roll Call (quorum was met)

TAP Staff

• Knispel, Marisa
• Odom-Russell, Meredith
• Ramirez, Sandra

Other Attendees

• No public present.

Welcome

Roll Call (quorum was met)

Approval of Meeting Minutes
June Minutes will be approved next meeting.

Chair Report
Sandra revised Shuman’s proposal and committee approved.

Review Assignments

Subcommittee 1
The Subcommittee discussed the Joint Committee’s suggestion of separating the issues addressing the Form W-4 proposal and creating two separate proposals. One proposal would address the recommended changes to the form and the other would address changes to the website.

Also, this subcommittee is proposing changes to the filing of Form 5500. Since the current procedures to obtain this Form are burdensome, the members propose facilitating the filing of downloaded versions of the Form.

Subcommittee 2
The subcommittee proposed updating the Internal Revenue Code on the IRS’ website. The current information is from the year 2002. Another issue considered is on the creation of Form 8892 to separate any gift tax payment made with the extension from the original Form 4868. In 2004 Form 8892 was created for taxpayers who need to make an extension to file a gift tax return and must pay this tax. In the past, Form 4868 was used to request the income tax extension as well as the gift tax and make a payment of the tax due. Due to problems encountered by the IRS in applying the payment to the correct type of tax, Form 8892 was created. The Subcommittee is analyzing this issue and reconsidering the use of one form (Form 4868).

Subcommittee 3
The group is writing a proposal on releasing a federal lien and the possible effects on credit reports.

Action/Assignment Review

Chair

• None

Committee Members

• Subcommittee 1: Work on form 5500 proposal to present at 7/27/05 meeting and meet on 7/26/05.
• Subcommittee 2: Work on website proposal to present at 7/27/05 meeting.
• Subcommittee 3: Work on liens and credit report proposal to present at 7/27/05 meeting and meet on 7/19/05 9 am.

Analyst

• Work on securing subject matter expert for f. 8892 proposal.

Manager

• None

Closing/Assessment

• Next Meeting July 27, 2005

*These minutes were approved by the TAP Area # Committee on Date xxxx