IR-2017-179: Information Reporting Program Advisory Committee Issues Annual Report

IRS Newswire October 25, 2017

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Issue Number:    IR-2017-179 Inside This Issue Information Reporting Program Advisory Committee Issues Annual Report WASHINGTON — The Information Reporting Program Advisory Committee (IRPAC) today issued its annual report for 2017, including numerous recommendations to the Internal Revenue Service on new and continuing issues in tax administration. The report includes a discussion on how to improve some processes, such as for penalties, abatement requests and levies as well as business master file entity addresses. The report also recommended enhancements to Form W-9 and the truncation of Social Security numbers on Form W2, IRC § 6050S and Form 1098-T reporting.   During 2017, the committee continued its dialogue with IRS officials regarding reporting requirements under the Foreign Account Tax Compliance Act and the Affordable Care Act and made extensive recommendations regarding both programs. IRS Commissioner John Koskinen congratulated and thanked six members of the committee who are ending their terms this year: Keith King, IRPAC Chair –  senior vice-president and tax executive of Bank of America. Darrell Granahan – senior director of implementation and customer success management of tax information reporting technology for the tax & accounting business of Thomson Reuters. Robert Limerick – managing director for the global information reporting group at PricewaterhouseCoopers. Marcia Miller – president & CEO of Financial Horizons, Inc. Emily Rook – consultant with Circle Financial Services and past president of the American Payroll Association. Nina Tross – executive director for the National Society of Tax Professionals. IRPAC is a federal advisory committee that provides an organized public forum for discussion of information reporting issues. It is comprised of a diverse cross-section of individuals drawn from the tax professional community, financial institutions, small and large businesses, universities and colleges and securities and payroll firms. The full 2017 IRPAC Public Report is available on IRS.gov. Back to Top  Thank you for subscribing to the IRS Newswire, an IRS e-mail service. If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe. This message was distributed automatically from the mailing list IRS Newswire. Please Do Not Reply To This Message.

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