IR-2008-124, Oct. 29, 2008
WASHINGTON ¡ª The Information Reporting Program Advisory Committee (IRPAC) today released the advisory group¡¯s recommendations on a wide range of tax administration issues.
IRPAC was established in 1991 on a Congressional recommendation suggesting the Service consider ¡°creation of an advisory group of representatives from the payer community and practitioners interested in the Information Reporting Program (IRP) to discuss improvements to the system.¡±
Based on its findings and discussions, IRPAC made more than 60 recommendations on a broad array of issues and concerns Service-wide, key among them:
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Masking the Taxpayer Information Number (TIN) on information reporting forms.
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Improving instructions for disaster reporting of postponed annual tax year contributions to IRAs.
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Improving the reporting return (Form 990) for tax-exempt organizations.
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Providing guidance for taxpayers receiving Form 1099 or 1042-S0 and Schedules K-1 for the same partnership income.
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Providing tax professionals hypothetical situations which describe Circular 230 violations and their corresponding sanction ranges.
Through IRPAC, systemic problems related to information reporting are addressed in a public forum. IRPAC draws its members from the tax professional community and supported by a dedicated staff of IRS professionals.