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Irs tax 14242 Form: What You Should Know

Suspicious Income-Gathering Practices — Taxpayer Advocate Service, IRS.gov The TAS has received multiple comments regarding the Suspicious Income-Gathering Practices (SIG PAP) rule on page 13 of the Taxation of Individuals With Low Taxable Income, the IRS's Taxpayer Advocate Service says it needs the comments for a final rule. There is a link provided to form 1603. You must complete and attach this form by December 15, 2017, for your comment to be considered. You have until December 15, 2017, to submit your comment regarding Form 15 and Form 4, Suspicious Income-Gathering Practice, to the appropriate office of Revenue Procedures. When Form 2355.2 (the most commonly used notice of assessment for reporting of suspicious incomes) was withdrawn from circulation, TIS received many comments requesting a replacement form that did not involve reporting of a taxpayer's income and, therefore, did not generate information for income-gathering. The National Taxpayer Advocate issued the proposed Form 2355.2 with certain changes and the Internal Revenue Service (IRS) responded that Form 2355.2 will be used. The IRS will publish Form 2355.2 by the end of the year and no later than March 30, 2018, Additional Information IRS Tax Tip 2016-28, Suspicious Income-Gathering Practices, November 28, 2016, IRS, Washington, D.C. IRS Notice 2016-18, Taxpayers With Low Taxable Income, December 4, 2016. IRS Notice 2016-18, Additional Information for Taxpayers who believe their income poses a potential threat to our tax system issued with certain changes and, the IRS responded that it will implement this information as it develops it. IRS Notice 2016-22, Taxpayers with Low Taxable Income, IRS, Washington, D.C. IRS Notice 2017-17, Miscellaneous Income-Gathering Activities, IRS, Washington, D.C. Form 14242 is what you should use if you suspect a case of tax fraud in which income is earned by filing fraudulent tax returns. Form 14242 (SP) is what you should use if you are filing any form on behalf of someone else. In general, Form 14242 (SP) is for individuals who file a taxpayer return using a false or fraudulent identity or false information concerning their tax matters. The IRS has also issued guidance for taxpayers.

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