10/19/22 10:48 AM

IRS Releases Publication 1220 for the 2022 Tax Year

On October 4, 2022, the IRS released Publication 1220 for the 2022 tax year. While you should be sure to review the full Publication to ensure you are in compliance, we've also put together a high-level summary of the changes:

  • Removed all references to paper Form 4419 which is obsolete as of August 1, 2022.
  • The IRS is continuing its transition to the new Information Returns TCC (IR-TCC) Application for Filing Information Returns Electronically (FIRE) for customers who receive their TCC(s) prior to September 26, 2021. Customers must take action to keep their existing TCCs active. 
  • As of September 2022, FIRE Transmitter Control Code (TCC) holders who submitted their TCC Application prior to September 26, 2021 will need to submit and complete the IR-TCC Application. The IR-TCC Application can be done at any time between September 25, 2022 and August 1, 2023. Your TCC will remain active for use until August 1, 2023. After that date, any FIRE TCC that does not have a completed IR-TCC Application will be dropped and will not be available for e-file. 
  • Part B Sec. 5 Test Files: added verbiage to include file limitation of 125 per TCC for a calendar year.
  • Part C Sec. 3 Payee "B" Record, Form 1098-F
    • Updated Field Position 552-590, Field Title
    • Updated Field Position 630-668, Field Title & General Field Description
    • Updated Field Position 669-673, Length & deleted indicators F, G, H, and I

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