The following announcement lists corrections and one addition for items in Publication 1179, General Rules and Specifications for Substitute Forms 1096, 1098, 1099, 5498, and Certain Other Information Returns, Revised November 26, 2012.
The correct title of the 2012 Form 1099-K is “Payment Card and Third Party Network Transactions.”
The first sentence in the first complete paragraph should read “There is a .33 inch top margin from the top of the corrected box, and a .2 to .25 inch right margin, with a +/- 1/20 (0.05) inch tolerance for the right margin.”
The first sentence in the third complete paragraph should read “The depth of the individual trim size of each form on a page must be 3 2/3 inches, the same depth as the official form.”
The second sentence should read “All rules on the document are either 1/2 point (.007 inch), 1 point (0.015 inch), or 3 point (0.045).”
In section 4.1.2, the 3rd sentence in the first paragraph of the Form 1099-B section should read “For 2012 dispositions, the substitute Forms 1099-B may have up to five separate sections, each with a heading identifying which securities are included in the list, and each separately totaled.”
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