SEC. 2. NATURE — Internal Revenue Bulletin 1998-37

.01 Numerous editorial changes have been made to the revenue procedure. Please read the publication carefully and in its entirety before attempting to prepare your magnetic media for submission. The changes are as follows:

(a) The title of Publication 1239 has changed from “Specifications for Filing Form 8027, Employer’s Annual Information Return of Tip Income and Allocated Tips, on Magnetic Tape and 5 ¹ ⁄4 or 3 ¹ ⁄2-Inch Magnetic Diskettes” to “Specifications for Filing Form 8027, Employer’s Annual Information Return of Tip Income and Allocated Tips Magnetically/Electronically.”

(b) Updated information on IRS/MCC’s mailing addresses, telephone numbers and the Call Site are provided in Part A, Sec. 3.

1998–37 I.R.B. 13 September 14, 1998

(c) A note regarding denial of waivers in Part A, Section 5.06 was deleted. While IRS/MCC encourages filers to request waivers at least 45 days prior to the due date of the return, we will accept waivers postmarked by the due date of the return.

(d) Part A, Section 10, Extensions of Time To File, has been completely revised. Form 8809, Request for Extension of Time To File Information Returns, should be submitted to request an extension of time to file Form 8027.

.02 Starting with tax year 1997 returns, IRS/MCC will accept Forms 8027 via the following additional options:

(a) Tape cartridge specifications are in Part B, Sec. 4. (b) 8mm, 4mm, quarter inch cartridges specifications are in Part B, Sec. 5. (c) Asynchronous electronic filing specifications through the Information Reporting Program-Bulletin Board (IRP-BBS) are in Part B, Sec. 6.

.03 Form 5064 media label has been obsoleted. Filers can now prepare their own self-sticking label. Notice 210 details what information should be included on the label.

.04 A page of cut out labels has been included for filers to use in mailing their media to MCC. A label should be affixed to the outside of the package to help expedite handling.

.05 Part B, Section 7 is now titled Record Format and Layout. A record layout now follows the record format specifications.