Compliance July 14, 2009

Multitude of Changes in IRS Payroll Filing Procedure

July 14, 2009 (PLANSPONSOR.com) - The Internal Revenue Service (IRS) has released specifications for filing 2009 Forms 1098, 1099, 5498, and W-2G electronically through the IRS Filing Information Returns Electronically (FIRE) System, according to CCH.
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These specifications, which will be reprinted as the next revision of IRS Publication 1220, must be used for the preparation of 2009 tax year information returns and information returns for tax years prior to 2009 that will be filed beginning January 1, 2010, according to CCH.

CCH listed six changes to note, including new forms, a renamed distribution code, and changes in corrections procedures, as well as 19 programming changes.

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More details about the changes are at  http://hr.cch.com/news/payroll/071409a.asp .

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