SECTION 4. EFFECTIVE DATE

This revenue procedure is effective for allocations of housing credit dollar amounts attributable to the National Pool component of a qualified state’s housing credit ceiling for calendar year 2004.

DRAFTING INFORMATION

The principal author of this revenue procedure is Christopher J. Wilson of the Office of Associate Chief Counsel (Passthroughs and Special Industries). For further information regarding this revenue procedure, contact Mr. Wilson at (808) 539–2874 or Susan Reaman at (202) 622–3040 (not toll-free calls).

August 23, 2004 320 2004–34 I.R.B.

.03 Section 31.6011(a)–4 prescribes Form 941 as the form to use for persons required to make a quarterly return of income tax withheld from wages.

.04 Section 31.6011(a)–6 provides that an employer who ceases to pay wages reportable on Form 941 shall file a final Form 941.

.05 Section 31.6071(a)–1 provides that the Form 941 generally must be filed on or before the last day of the first calendar month following the period for which it is made.

.06 Section 6051(a) provides that (1) every person required to deduct and withhold FICA or income tax, or who would have been required to deduct and withhold income tax if the employee had claimed no more than 1 withholding exemption, or (2) every employer engaged in a trade or business who pays remuneration for services performed by an employee, must furnish a written statement to an employee regarding the remuneration paid to the employee during the calendar year. Section 31.6051–1(a) provides that the statement is Form W–2.

.07 Section 31.6051–1(d)(1)(i) provides that Form W–2 must be furnished to the employee on or before January 31 of the following calendar year. If the employee’s employment is terminated before the close of the calendar year, however, and the employee requests the employer to furnish the Form W–2 at an earlier time, the Form W–2 must be furnished to the employee on or before the later of the 30th day after the written request from the employee or the 30th day after the day on which the last payment of wages is made.

.08 Section 31.6051–1(d)(1)(ii) provides that an employer who is required to file a final Form 941 must furnish Forms W–2 to its employees on or before the date required for filing the final Form 941. An employer is not permitted to furnish Form W–2 pursuant to the rule in § 31.6051–1(d)(1)(i) relating to written requests by terminated employees for Form W–2, if that would be at a time later than that required under the rule in § 31.6051–1(d)(1)(ii)(B) for an employer who ceases to pay wages.

.09 Section 31.6071(a)–1(a)(3)(i) provides the general rule that a Form W–2 (Copy A) must be filed on or before the last day of February (or March 31 if filed elec

the standard procedure and an alternate procedure for preparing and filing Form W–2, Wage and Tax Statement ; Form 941, Employer’s Quarterly Federal Tax Re- turn ; Form W–4, Employee’s Withholding Allowance Certificate ; and Form W–5, Earned Income Credit Advance Payment Certificate, in certain acquisitions. This revenue procedure applies when an employer (successor) acquires substantially all the property (1) used in a trade or business of another employer (predecessor), or (2) used in a separate unit of a trade or business of a predecessor, and, in connection with or immediately after the acquisition (but during the same calendar year), the successor employs individuals who immediately prior to the acquisition were employed in the trade or business of the predecessor. (The term “trade or business,” for purposes of this revenue procedure, may include the activity of a nonprofit organization or of a federal or state agency.)

.02 This revenue procedure provides guidance on the new schedule (Schedule D (Form 941), Report of Discrepancies Caused by Acquisitions, Statutory Merg- ers, or Consolidations ) that the Internal Revenue Service is currently developing. Employers will be able to use Schedule D (Form 941) to explain the discrepancies between Forms W–2 (Copy A) and Forms 941 in the totals of social security wages, Medicare wages and tips, social security tips, federal income tax withheld, and advance earned income credit (EIC) payments, caused by acquisitions, statutory mergers, or consolidations. If Form 941 is filed electronically, an employer will be able to file Schedule D (Form 941) separately on paper, until the electronic specifications for Schedule D (Form 941) become available.

.03 This revenue procedure also amplifies Rev. Rul. 62–60, 1962–1 C.B. 186. Rev. Rul. 62–60 describes the information a resultant corporation (now known as a surviving corporation) should provide on an absorbed corporation (now known as an acquired corporation) after a statutory merger or consolidation. If the surviving corporation completes and files Schedule D (Form 941) to explain discrepancies between the totals on Forms W–2 (Copy A) and the totals on Forms 941, Schedule D (Form 941) will also provide notice of

a statutory merger or consolidation under Rev. Rul. 62–60.