[OSSSA218] Fwd: IR-2010-105: 2010 IRPAC Report Made Available

[Karen PARK]

FYI

Karen Park

Oregon State Social Security Coordinator
Oregon PERS
503 603-7633
karen.park at state.or.us

SL2

Please note my office hours are Monday thru Thursday 6 am to 4:30 pm


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IRS Newswire October 20, 2010 

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Issue Number:    IR-2010-105 
Inside This Issue 



2010 IRPAC Report Made Available     
WASHINGTON — The Information Reporting Program Advisory Committee (IRPAC) today released its 2010 Report, which is an annual report that includes recommendations on a wide range of tax administration issues. 
IRPAC provides a public forum for the IRS and members of the information reporting community in the private sector to discuss relevant information reporting issues. The IRPAC is administered by the National Public Liaison Office of the IRS. IRPAC draws its members from the tax professional community 
Based on its findings and discussions, IRPAC reviewed 30 issues and made recommendations on a broad array of issues and concerns, including the following: 
Health care reporting (Form W-2) for 2011. 
Information reporting (Form 1099-MISC) under the Patient Protection and Affordable Care Act of 2010. 
Cost basis reporting by financial institutions of customer cost basis in securities transactions. 
Payment reporting (Section 6050W) made in settlement of payment card and third party transactions. 
Withholding and tax information reporting of payments of U.S. source income to foreign financial institutions and non-financial foreign entities, under Foreign Account Tax Compliance Act (FATCA). 
  
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