Attention payroll industry, tax professionals, small business and self employed, tax exempt and government entities and financial institutions. The current version of Publication 1220, (rev. 9-2022) Specifications for Electronic Filing of Forms 1097, 1098, 1099, 3921, 3922, 5498, and W-2G, contains incorrect information in the Issuer A record and Payee B record sections.
The IRS is making the necessary corrections and expect the revised Publication 1220 should be available on www.IRS.gov.
Exhibit 2 of the revised publication will reflect these corrections:
- Part C Sec. 2 Issuer “A” Record – Corrected Field Position 46-53 Field Title “Blank” to 46-51 and corrected Length to 6. The Field Position of all Field Titles that followed were reduced by 2.
- Part C Sec. 3 Payee “B” Record, Record Layout Positions 545-746 for Form 1099-PATR – Corrected the Length and General Field Descriptions to be consistent with TY 2021.
For more information, visit www.irs.gov.