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 ?
The new annual information returns !-- -- Early last year, the tax authorities issued Revenue Regulations (RR) No.
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).
In recent years, the authors have seen more frequently that, in addition to needing more time to file an income tax return, a taxpayer may not have enough information to file a complete and accurate international information return. 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.
* Filing with the IRS the 2015 Form 1094-B, Transmittal of Health Coverage Information Returns; the 2015 Form 1095-B, Health Coverage; the 2015 Form 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns; and the 2015 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, from Feb.
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.
In 1958, when the Service employed 60,000 workers, there were about 300 million information returns to processed and compared to about 130 million taxpayer returns.
IRS matches information returns with taxpayers' income tax returns to see if taxpayers have filed returns and reported all their income.
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).

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