IRS advisory panel makes series of recommendations

10/29/2009 | WebCPA

The Internal Revenue Service Advisory Committee has issued a series of recommendations. These include: the creation of a new form and new rules for reporting settlements of payment-card and third-party-network transactions; more guidance on tax information reporting and withholding; and the creation of online Form W-4 instructions for nonresident aliens. Further advice was given involving withholding on certain payments made by government entities, and on providing additional guidance to government entities related to withholding.

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