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This document outlines the agenda for the IRIS Working Group meeting held on March 13, 2024, which includes updates on the filing season, tips, and guidance on electronic filing procedures for information returns.
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01
Gather all necessary documentation, including W-2s, 1099s, and any other income statements.
02
Log in to the information returns intake system using your secure credentials.
03
Navigate to the 'New Submission' section of the system.
04
Enter your personal identification information (name, address, social security number).
05
Input your financial information as requested, referring to the gathered documents.
06
Review all entered information for accuracy before submission.
07
Submit the returns by clicking on the 'Submit' button.
08
Save or print the confirmation page for your records.

Who needs information returns intake system?

01
Tax professionals preparing returns for clients.
02
Businesses or organizations that issue information returns to the IRS.
03
Individuals filing their own returns and needing assistance to report income correctly.
04
Accountants managing payroll and income reporting for companies.
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The Information Returns Intake System (IRIS) is a tool used by the IRS to collect and process various information returns from businesses and individuals, ensuring compliance with tax laws.
Entities such as businesses, nonprofits, and certain individuals who engage in transactions that require reporting to the IRS, including payments to independent contractors and interest payments, are required to file through the Information Returns Intake System.
To fill out the Information Returns Intake System, gather required tax identification numbers and relevant financial information, complete the appropriate forms based on the type of transaction, and submit them electronically via the IRS's designated filing platform.
The purpose of the Information Returns Intake System is to track and report income, ensure tax compliance, and provide the IRS with accurate data regarding financial transactions that may affect individual and business tax obligations.
Information that must be reported includes recipient names, addresses, Taxpayer Identification Numbers (TINs), the amount paid, and the type of payment made, depending on the specific form being filed.
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