Third Party Reporting Information Center - Information Documents
The IRS uses third-party information reporting on forms in the 1099 series to increase voluntary compliance and improve collections. Beginning in 2011, legislation requires reporting of income in two areas: payment card (credit, debit and certain electronic transactions) and securities basis reporting.
The links below take you to forms, instructions and background information related to the reporting requirements of payment cards and cost basis of securities sales. These regulations, notices and FAQs provide details on the implementation of Section 6050W of the Housing Assistance Tax Act of 2008 and of Section 6045(g) of the Energy Improvement and Extension Act of 2008.
Information Reporting on Payment Card and Third Party Network Transactions
- New Notices Related to Form 1099-K
- Form 1099-K and Instructions
- Final Regulations Text (8/13/2010)
- Final Regulations Explanation
- Notice 2011-42: payments made by third party settlement organizations (TPSO) are reportable and potentially subject to backup withholding.
- Notice 2011-71: guidance about obligations of payment settlement entities making payments to an offshore account.
- Notice 2011-78: Non application of Section 6050W to certain insurance arrangements
- FAQs on New Payment Card Reporting Requirements
- Reporting Requirements for Payment Settlement Entities
Cost Basis Reporting on Securities Sales
- Form 1099-B
- Form 1099-B Instructions
- Form 1040 Schedule D
- Form 8949
- Press Release(10/12/2010): Final Regulations
- TD 9504: Basis Reporting by Securities Brokers and Basis Determination for Stock (final regulations, 10/18/2010)
- Notice 2011-56: on issues relating to the basis of stock (06/22/11)
- Notice 2012-34 Basis Reporting by Securities Brokers and Basis Determination for Debt Instruments and Options - Delay of the Proposed Effective Dates
- Cost Basis Reporting FAQs
- Basis Reporting by Securities Brokers and Basis Determination for Debt Instruments and Options; Reporting for Premium
Get Regular Updates:
- e-news for Small Businesses provides a free e-mail with tax info for small businesses and self-employed.
- e-news for Tax Professionals provides the latest national news for the tax professional community, as well as links to resources on IRS.gov and local news and events by state.
- Quick Alerts help your tax pros stay current on events that affect e-file transmitters, providers and software developers.
- Other e-news subscriptions offer a variety of tax information delivered to your inbox.
Note: The following initiatives have been repealed.
- Information Reporting by Government Entities on Certain Government Payments (3% Withholding)
- Information Reporting on Payments to Corporations and Payments of Gross Proceeds and With Respect to Property
- Information Reporting on Real Estate Rental Property Expenses Payments