1 New Rules for Children of Divorced or Separated Parents If custodial parent provides notice of revocation to the non-custodial parent in 2009, the earliest year the revocation can be effective is the tax year beginning in 2010 Part III of Form 8332 may be used for this purpose Must be attached each year the child is claimed as a dependent

2 Release of Claim by Custodial Parent Form 8332

3 Other New Topics IRAs and other Retirement plans – Temporary wavier of required Minimum Distributions Numerous other Indexing Changes

4 Scope Changes Including New Topics Pub 4491 Lesson 17 – Adjustment to income penalty for early withdrawal of savings is now Basic Lesson 14 – Social Security Benefits is now Basic Lesson 12 – Schedule E – Limited flow through income items from Sch K-1s now in scope

5 EITC Awareness Day 2010 Friday, January 29, 2010, EITC Awareness Day event organized by IRS and partners to educate the public about EITC and requirements to claim the credit News conferences or news releases to raise awareness of EITC and free tax preparation services Most volunteer return preparation sites will be open by EITC Day More than 60 percent of all EITC tax returns are filed during the month of February

6 E-file and TaxWise® for Volunteers

7 7 TaxWise Changes for 2010 Earlier release of the software Improved Client/Return List Functionality Sorting will be available by clicking column headers in the existing client screen Addition of new User Group Watermarks added to Print Packets

8 TaxWise (Desktop) 2010 Changes New enforcement for desktop passwords Minimum operating system requirements update Improved release notes in PDF format Sorting return explorer in the file list section

9 TaxWise Online 2010 changes Reports – TWO reports will be improved, similar to the reports available in Tax Wise desktops

10 Questions?

11 You make a real difference In your community! Thank you.