Information Returns

Information Returns

These are returns, such as Form W-2 and the various 1099 forms, which report to the IRS income and property transactions. The payer, broker, or other designated person is required to file these returns and is subject to penalties for noncompliance.
References in periodicals archive ?
For incentive stock option exercises and transfers of stock acquired under employee stock purchase plans in 2017, the employer must furnish employee information statements no later than January 31, 2018 and must file information returns with the IRS no later than February 28, 2018 (or April 2, 2018 if filing electronically).
Filing an extension can allow more time to file such information returns.
The Internal Revenue Code (IRC) requires the filing of a number of different information returns with respect to foreign entities or transactions.
Due date modifications: The act sets new due dates for partnership and C corporation returns, as well as for Fin-CEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR), and several other IRS information returns.
Failure to follow these new reporting requirements are subject to the penalty for failure to file information returns (See Sec.
The Internal Revenue Service (IRS) has published a draft version of Form 1094-B, the form insurers are supposed to use to submit health coverage information returns for 2015.
IRS matches information returns with taxpayers' income tax returns to see if taxpayers have filed returns and reported all their income.
One of the most important administrative features of the nation's tax system involves the issuance of information returns (such as Form W-2s and Form 1099s).
Tax-exempt organizations can file their information returns for tax year 2004 electronically via a new free Web service launched by the National Center for Charitable Statistics (NCCS).
Additional new penalties apply to "material advisors" (MAs), who are now required to file special information returns with respect to any RT advised upon.
As information returns for 1999 payments are due by the close of this month, attorneys need to be aware of the proposed regulations.

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