Bulletin No. 2003–8 February 24, 2003

for two of the preceding five years or when the taxpayer has excluded gain from the sale or exchange of a principal residence within the preceding two years.

T.D. 9041, page 510. Final and temporary regulations under section 3406 of the Code allow a payor’s authorized agent to participate in the Taxpayer Identification Number (TIN) Matching Program.

REG–116641–01, page 518. Proposed regulations under sections 3406 and 6724 of the Code provide guidance relating to the Taxpayer Identification Number (TIN) Matching Program and to information reporting requirements, information reporting penalties, and backup withholding requirements for payment card transactions. The regulations provide that backup withholding does not apply to payment card transactions if the reportable payments are made through a Qualified Payment Card Agent (QPCA) and the payee is a qualified payee. The regulations also provide special Taxpayer Identification Number (TIN) solicitation rules under section 6724 for payments made through a QPCA. A public hearing is scheduled for May 21, 2003.

Notice 2003–13, page 513. This notice provides a proposed revenue procedure that would establish a procedure for a payment card organization to request a determination that it is a Qualified Payment Card Agent. A QPCA could act on behalf of cardholder/payors in soliciting, collecting, and validating merchants’ names, Taxpayer Identification Numbers (TINs), and corporate status, and on behalf of merchant/payees in furnishing such information to cardholder/ payors.

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