IRS Releases Updated Publication 1220

September 17, 2018 Paul Ogawa

The IRS recently published a new update to Publication 1220 for tax year 2018. Publication 1220 contains the electronic filing instructions and specifications for Forms 1097, 1098, 1099, 3921, 3922, 5498, and W-2G.  

This update follows the original TY 2018 release of this publication, and includes a few content updates that affect reporting specifications. These changes include the following:

  • Form 1099-R, Payee B Record (FP 545-546): Under “Distribution Code”, Code M can now be paired with Code 7 in addition to codes 1, 2, 4, or B.
  • Form 1099-DIV, Payer “A” Record (FP 28-43): Amount Code 5 was revised to cover Section 199A Dividends.
  • Section 13, Table 2 – State and U.S. Territory Abbreviations: First row inserted for Alabama, Kentucky, and Ohio.

To review these changes and the publication in full, please visit the IRS website by clicking here.

About the Author

Paul Ogawa is a Junior Regulatory Counsel at Sovos Compliance. As part of the Regulatory Analysis team, his main areas of focus are state and federal tax withholding, the Affordable Care Act (ACA), and Canadian tax information reporting. Prior to Sovos, Paul worked as a litigation attorney in Boston area law firms, representing clients in insurance subrogation claims, family law matters, and employment disputes. Paul is a member of the Massachusetts Bar, earned his B.A. from Brandeis University and his J.D. from the Suffolk University Law School.

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