IRS Releases 2021 Revision of Publication 1179

Robert Beck
August 31, 2021

The IRS released its 2021 revision of Publication 1179, the General Rules and Specifications for Substitute Forms 1096, 1098, 1099, 5498, and Certain Other Information Returns. The update has a revision date of June 28, 2021. For the most part, only minor changes have been made to the information contained within the publication. The most notable changes are detailed below.
• References to 2020 have been updated to 2021 throughout the document and generally the document has been updated for the current tax year.
• Form 1099-H has been added back to the list of forms covered by the publication.
• What’s New Section
o Note regarding the 250-return requirement for electronic filing remaining in effect at this time
o Notice that extensions to furnish statements must be faxed now. The form can be found at www.IRS.gov/instructions/i1099g#idm140388152503184
o Notice about form 1099-H and its instructions being converted to continuous use format
o Notice that 1099-MISC has been changed from Miscellaneous Income to Miscellaneous Information
o Notice added that Form 1099-NEC has been resized to allow for 3 forms to a page
• In the Dimensions section, form 1099-NEC has been removed from the exception list of 3 copies to a page forms.
• Under Section 4.1.3 Substitute Statements to Recipients for Certain Forms 1098, 1099, 5498, and W-2G – A paragraph allowing the use of a Settlement Statement as a written statement to the transferrer in regard to Form 1099-S has been removed from the section
• Form 1099-H added to the list of forms which may be furnished electronically in Section 4.6.1 Electronic Recipient Statements
• In Section 5.1.4 Instructions for Withholding Agents, the WP-EIN and WT-EIN have been added to the list of items which consist of nine digits separated by a hyphen.
• Section 5.4.1 Notice that Rev. Proc. 2020-35, 2020-29, I.R.B. 82, dated July 13, 2020, is superseded by the current publication
• All exhibit forms at the end of the document have been updated to the current 2021 versions
To view the complete publication, click here.

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Author

Robert Beck

Robert Beck is a Junior Regulatory Counsel at Sovos Compliance. As part of the Regulatory Analysis team, his main areas of focus are state and federal tax withholding, and the Affordable Care Act (ACA). Robert is a member of the Massachusetts Bar and received his J.D. from New England Law | Boston and his B.A. in Justice from University of Alaska Fairbanks.
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