The IRS recently released a revision to Publication 1586, Reasonable Cause Regulations and Requirements for Missing and Incorrect Name/TINs. There were minor grammar and punctuation changes as well as updates to revision date and years. Additionally, the following notable changes were made:
· Penalty rate tables updated to reflect new rates, including annual inflation adjustments
· New Form W-4R may be used for annual solicitation.
To view the updated publication, click here.