1545-BG53 201410 The Regulatory Plan and the Unified Agenda of Federal Regulatory and Deregulatory Actions 1545 Internal Revenue Service IRS 1500 Department of the Treasury TREAS Information Reporting and Backup Withholding for Payment Card Transactions

The proposed regulations allow a merchant/payee to opt out of the Qualified Payment Card Agent (QPCA) program by giving notice to a QPCA. However, the QPCA would be required to inform the cardholder that the payee is not a participant in the QPCA program and is not a qualified payee. In addition, the QPCA must advise the cardholder/payor of the cardholder/payor's obligation to solicit the TIN of a nonparticipating merchant/payee to which it makes a reportable payment. The proposed regulations also provide that QPCA may furnish the required notifications electronically, including by posting on a secure website.

]]> Substantive, Nonsignificant Previously Published in The Unified Agenda Completed Actions No No 26 CFR 31 26 CFR 301 26 USC 6041 26 USC 3406 26 USC 7805 No NPRM 07/13/2007 72 FR 38534 Public Hearing 07/13/2007 72 FR 38534 NPRM Comment Period End 10/09/2007 Completed by TD 9699 10/27/2014 79 FR 63811 REG-163195-05 Drafting attorney: Michael E. Hara (202) 317-5417 Reviewing attorney: Blaise G. Dusenberry (202) 317-5405 CC: PA: Branch 1 No Federal Local State Tribal No No No No Michael Hara E. Attorney 1545 Internal Revenue Service IRS 202 317-5417 202 874-9248 michael.e.hara@irscounsel.treas.gov 1111 Constitution Avenue NW., Room 5529, Washington DC 20224