Requirements for reproduction/substitute forms corrected

The IRS has corrected Rev. Proc. 2017-39, I.R.B. 2017-26, 1286, which provided the specifications for the private printing of red-ink substitutes for the 2017 revisions of information returns, preparing acceptable substitutes of the official forms, and using official or acceptable substitute forms to furnish information to recipients. The procedure covers Forms 1096, 1097-BTC, 1098 series, 1099 series, 3921, 3922, 5498 series, W-2G, 1042-S and 8935.
The following corrections have been made:

  • Section 4.2.2. The correct title is Composite Substitute Statements to Recipients for Forms Specified in Sections 4.1.2 and 4.1.3.
  • Section 4.2.2. The first paragraph is replaced with the following: A composite recipient statement for the forms specified in Sections 4.1.2 or 4.1.3 is permitted when one filer is reporting more than one type of payment during a calendar year to the same form recipient. A composite statement is not allowed for a combination of forms listed in Sections 4.1.2 and 4.1.3. (Announcement 2017-10, IRB 2017-33, August 14, 2017.)

Visit our News Library to read more news stories.