Academic journal article Journal of Accountancy

IRS Reverses Controversial Procedural Notice

Academic journal article Journal of Accountancy

IRS Reverses Controversial Procedural Notice

Article excerpt

The Internal Revenue Service issued an advance copy of revenue procedure 94-51 (1994-31 IRB 31) amending revenue procedure 94-34 (1994-18 IRB 19), which strictly limited the types of substitute tax returns that could be filed. The earlier procedure, published last May, essentially banned the use of computer-generated tax forms and photocopies of official forms. Beginning in tax year 1995, revenue procedure 94-34 said, the IRS would accept only returns filed electronically, computer-generated forms 1040PC, IRS-published originals or exact duplicates.

"We were inundated with letters from practitioners as well as members of Congress writing to us on behalf of their constituents," said Steve Schneider, substitute forms program coordinator in the IRS Forms Standardization Project Office. "We also received phone calls and letters from the AICPA as well as a number of CPA firms expressing their concern about the restrictions."

The purpose of revenue procedure 94-51 is to allow for more flexibility in the approval of substitute individual tax returns in future tax years. It eliminates restrictions on laser-printer and dotmatrix printouts. …

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