March 7, 2012 8:46 pm

Volunteer to be on the Taxpayer Advisory Panel

If you’ve been griping about IRS service, put your money where your mouth is! The Treasury is now accepting nominations for volunteers to serve a 3-year term on the National Taxpayer Advisory Panel (TAP). The TAP’s mission is to listen to taxpayers, identify issues that affect them, and make suggestions to the Secretary of the Treasury, the Commissioner of Internal Revenue, and the National Taxpayer Advocate for improving IRS service and customer satisfaction.

Volunteers must make a personal commitment of 300 to 500 hours annually and be U.S. citizens. They must also pass an IRS tax compliance check as well as an FBI background investigation.

Go to www.improveirs.org to complete the online application. Submission runs from March 19, 2012, through April 27, 2012.

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Tax Glossary

Section 1231 property

Depreciable property used in a trade or business and held for more than a year. All Section 1231 gains and losses are netted; a net gain is treated as capital gain, a net loss as an ordinary loss.

More terms