IRS releases proposed regulations implementing pilot program to truncate taxpayer identification numbers

Global Information Reporting
& Withholding Newsbrief
()

The US Department of Treasury and Internal Revenue Service (IRS) released proposed regulations on January 2, 2013 (the proposed regulations) to implement and expand the application of a voluntary IRS pilot program that permits filers of certain information returns to truncate taxpayer identification numbers (TINs). The program was originally announced in Notice 2009-93 and applied to statements for calendar years 2009 and 2010. The IRS instituted the pilot program as a tool to combat identity theft and extended and modified the program in Notice 2011-38 to apply through 2012.



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