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Business and Policy Areas
Business and Policy Areas
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IRS Updates Guidance for Electronic Filing

July 30, 2008

The IRS has updated the rules for sets for the electronic filing of IRS Forms 1098, 1099, 5498, and W-2G through the Filing Information Returns Electronically or FIRE system. Institutions need to follow these specifications for the preparation of 2008 forms and information returns for tax years prior to 2008 filed beginning January 1, 2009.
In addition to the specifications for the filing requirements, the revenue procedure provides the following information related to filing Forms 1098 and 1099:

  • vendor lists
  • application and approval procedures
  • retention requirements
  • filing corrected returns
  • connecting with the FIRE system
  • record format specifications and layouts
  • extensions of time and waivers

Please note: when accessing Revenue Procedure 2008-30 from the IRS web site, the page initially appears to be blank, however the notice will appear if you continue scroll down.