IRS PROPOSES REGULATIONS ON FILING INFORMATION RETURNS ON MAGNETIC MEDIA
6/10/2018
Sunday, June 10, 2018
by:

Section: Washington Update




The Internal Revenue Service has proposed regulations that would amend the rules for determining whether information returns must be filed using magnetic media (electronically). State payroll offices may be particularly interested in the proposal as the:
 
“…proposed regulations would require that all information returns, regardless of type, be taken into account to determine whether a person meets the 250-return threshold and, therefore, must file the information returns electronically. The proposed regulations also would require any person required to file information returns electronically to file corrected information returns electronically, regardless of the number of corrected information returns being filed.”
 
The IRS has concluded that determining the 250-return threshold on a form-by-form basis without aggregation is no longer necessary. 
 
Comments may be submitted electronically through the Federal eRulemaking Portal. Written or electronic comments and requests for a public hearing must be received by July 30, 2018.
 
Post a Comment

Name
Email
Comment