Sec. 2. Modification of due dates for certain information filing returns

277 words·~1 min read·/bill/114/hr/3832/ih/section-2

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Section 6071 of the Internal Revenue Code of 1986 is amended by redesignating subsection

(c)as subsection (d), and by inserting after subsection

(b)the following new subsection: Returns and statements made under sections 6051 and 6052, and any payments required to be reported on Form 1099–MISC with respect to nonemployee compensation, shall be filed on or before February 15 of the year following the calendar year to which such returns relate. . Subsection

(b)of section 6071 of such Code is amended by striking subparts B and C of part III of this subchapter and inserting subpart B of part III of this subchapter (other than returns filed on Form 1099–MISC with respect to nonemployee compensation) . The amendments made by this subsection shall apply to returns and statements relating to calendar years beginning after the date of the enactment of this Act. Not later than January 1, 2018, the Secretary of the Treasury shall submit to the Committee on Ways and Means of the House of Representatives and the Committee on Finance of the Senate— a recommendation of whether the due dates for filing Forms W–2 and W–3 with the Internal Revenue Service and the Social Security Administration should be further accelerated in order to prevent tax refund fraud, recommendations for processes— to match the information reported on Forms W–2 and Forms 1099–MISC for the effective processing of returns and accurate determination of refunds, and to correct errors on such documents, and any other recommendations the Secretary may have for accelerating information reporting, including the identification of any other forms that should be due on an accelerated schedule, in order to prevent tax refund fraud.