IRS Releases New Proposed Rule Regarding Electronic Reporting of Information Returns

The IRS has released Proposed Rule REG-102951 containing the proposed regulations amending the rules for determining when information returns will be required to be filed electronically.

These proposed regulations would require that all information returns, regardless of type, be taken into account to determine whether a filer meets the 250-return threshold and, therefore, must file the information returns electronically. Additionally, any filer required to file information returns electronically will be required to file their corrected information returns electronically as well regardless of the number of corrected information returns being filed.

The proposed regulations will impact all information returns required to be filed after December 31, 2018.

To view the proposed rule, you can click the link here.

Author

Tom Hospod

Tom Hospod is a Regulatory Counsel at Sovos Compliance. Within Sovos’ Regulatory Analysis function, Tom focuses om Affordable Care Act (ACA) reporting, Tax Withholding, and Automatic Exchange of Information (AEOI). Prior to Sovos, Tom worked as a legislative aide in the Massachusetts House of Representatives. Tom is a member of the Massachusetts Bar, earned his B.A. from Boston College and his J.D. from the University of Miami.
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