[25690]
December 6, 2011
TO: BDAC COST BASIS REPORTING TASK FORCE No. 39-11BANK, TRUST AND RETIREMENT ADVISORY COMMITTEE No. 76-11
BROKER/DEALER ADVISORY COMMITTEE No. 81-11
OPERATIONS COMMITTEE No. 50-11
PENSION COMMITTEE No. 31-11
SMALL FUNDS COMMITTEE No. 53-11
TAX COMMITTEE No. 76-11
TRANSFER AGENT ADVISORY COMMITTEE No. 100-11 RE: IRS RELEASES NEW DRAFT PUBLICATION 1179
The Internal Revenue Service (“IRS”) has released a new draft Publication 1179, “General Rules and Specifications for Substitute Forms 1096, 1098, 1099, 5498, and Certain Other Information Returns.” [1] As requested by the Institute, [2] the primary change in this draft from the prior draft [3] is that the new requirements for the substitute Form 1099-B will not be mandatory for 2011.
The IRS is accepting comments on the new draft Publication 1179. Please provide any such comments to me (202-371-5432 or kgibian@ici.org) no later than the close of business on Tuesday, December 13, 2011.
Karen Lau Gibian
Associate Counsel
endnotes
[1] The draft publication can be found on the IRS website at: http://www.irs.gov/pub/irs-dft/p1179--dft.pdf.
[2] See Institute Memorandum 25658, dated November 22, 2011.