SEC. 2. NATURE OF CHANGES—

CURRENT YEAR (TAX YEAR 1995 )

.01 In this publication, all pertinent changes from the last revision have been highlighted by the use of italics and double underline. This has been done for the convenience of the filers in identifying new information. Filers are still advised to read the publica- tion in its entirety.

.02 EDITORIAL CHANGES—GENERAL The following changes have been made to the revenue procedure:

a) In Contents, Part A. General— Section 6. Vendor List has been added to provide guidance to those filers who may need assistance or must engage a vendor to file on their behalf.

b) Part A. Sec. 3.01—The closing hour of operation at IRS/MCC has changed from 6:00 p.m. to 4:30 p.m. Eastern Time.

c) Part A. Sec. 3.07—Text regarding the Information Reporting Program Centralized Call Site has been updated to reflect the change from a pilot operation in select areas of the country, to a nationwide service for the payer community.

d) Part A. Sec. 4.01—A paragraph has been added to inform the withholding agents of filing requirements with regard to the threshold of 250 returns. A NOTE was added to make filers aware of the penalty which may be imposed when failing to comply.

e) Part A. Sec. 4.04—A note has been added for filers, who may engage a service bureau to file on their behalf, to be sure not to file duplicate data.

f) Part A. Sec. 5.08—A statement has been added advising transmitters, who have received a waiver approval letter, to keep it on file.

g) Part A. Sec. 9.01—A statement has been added alerting filers of the importance of signing Form 4804. A NOTE was also added to direct filers to

File Section 12. Processing of Form

1042–S Magnetically/ Electronically Section 13. Corrected Returns Section 14. Effect on Paper Docu

ments Section 15. Definition of Terms Section 16. Major Problems En

countered

Part B. Magnetic Media Specifications