September 2020
Executive Briefing
2020 IRS File Layout Changes
The Internal Revenue Service has issued its 2020 specifications for filing information returns on electronic media (a/k/a Publication 1220). This article examines the various changes since 2019.
Credit Reporting Guide Updated
The Consumer Data Industry Association has published an updated version of the Credit Reporting Resource Guide which includes the Metro 2 Format for credit reporting. This article examines the significant changes.
Short Compliance Topics
• IRS – Form 1099-C
Emerging Issues
• Continuing Small Business Recovery & Paycheck Protection Program
• Protecting Employees and Retirees In Business Bankruptcies Act
• Protecting Homeowners In Bankruptcy Act
• RECOVERY Act
• Student Borrower Bankruptcy Relief Act
