The IRS has released its updated Publication 1220, which provides technical specifications for electronic filing of information returns through the Filing Information Returns Electronically (FIRE) system. Most significantly, the IRS announced on July 2, 2025, that the FIRE system will be retired beginning with Tax Year 2026/Filing Season 2027, with the Information Returns Intake System (IRIS) becoming the sole electronic filing platform. All current FIRE users must complete an IRIS Application for TCC to transition to the new system.
Several forms now have new filing requirements. Amount Code B (Golden Parachute Payments) can no longer be filed through FIRE and must be submitted through IRIS or on paper. Form 1099-DA is also not supported in FIRE and must be filed exclusively through IRIS. Filers with 10 or more paper forms must submit Form 8508 to request electronic filing waivers.
The publication includes updated technical specifications for Payee “B” Records, specifically Form 1099-Q’s Code 2 (for QTP to Roth IRA transfers) and Form 1099-R’s Distribution Code Y (for Qualified Charitable Distributions), which may be used standalone or in combination with codes 4, 7, or K. The Combined Federal/State Filing Program has been updated with Oregon joining as Code 41 and Missouri (Code 29) being removed.
