INCOME TAX—Cont.

Rev. Proc. 2003–9, page 516. This procedure expands the Taxpayer Identification Number (TIN) Matching Program, permitting payors to verify, prior to filing, payee TINs required to be reported on information returns and payee statements. The federal TIN Matching Program established by Rev. Proc. 97–31 was limited to federal agencies. Rev. Proc. 2003–9 establishes an on-line system open to all payors of reportable payments and their authorized agents. Program participants will be able to rely on a verified TIN/name match as reasonable cause under section 6724(a) of the Code, which will provide significant incentive for payors to check and correct payee TINs before filing. Rev. Proc. 97–31 modified.