IRS Releases Updated Publication 1220

October 26, 2018 Paul Ogawa

The IRS recently released an updated version of Publication 1220, Specifications for Electronic Filing of Forms including 1099 and W-2G. This October 2018 update follows the September 2018 release and includes revised or additional information relating to Forms 1098, 1099-R, and 1099-MISC.

Form 1098:

  • A new field “Other” was added in Field Position 592-630 on the “B” Record.
    • This field may contain any additional items to report to the payer, including real estate taxes, insurance paid from escrow, and the continuation of either the “property address securing the mortgage” or “legal description of property” fields.
    • This is a free format field, and any information in this box is not required by the IRS.
  • The field description for Field Position 631-669 on the “B” record was edited to enter blanks.
    • Previously this field description was for a free format field allowing for a continuation of certain other fields.

Form 1099-R:

  • Field Position 557-564 on the “B” Record is now for “Date of Payment” information, and Field Position 565-662 (also on the “B” record) is now reserved for Blanks.
    • Previously 557-662 was reserved as blank, and Date of Payment was previously in field positions 663-670.
  • Field Position 663-722 on the “B” Record is now reserved for Special Data Entries, generally used for state and local government reporting.
    • Special Data Entries was formerly in field positions 671-722, but was moved to accommodate the changes in “Date of Payment”, see above.

To review this publication in its entirety, 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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