A draft of the 2021 Form 1096, Annual Summary and Transmittal of U.S. Information Returns, was released July 20 by the Internal Revenue Service.
The form was updated with minimal changes, most of which were to revise dates. However, the IRS added guidance in the instructions related to the Taxpayer First Act of 2019, which reduced the electronic-filing threshold for information returns to 100 from 250 for 2021 tax-year returns. If new regulations take effect for 2021 returns that are to be filed in 2022, the agency said it would publish an article explaining the change at the IRS ...
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