SEC. 2. NATURE OF CHANGES

.01 The text and exhibits were updated for tax year 1995.

.02 The title of Pub. 1179 was changed to ‘‘Rules and Specifications for Private Printing of Substitute Froms 1096, 1098, 1099 Series 5498, and W– 2G.’’ .03 The mailing address used for questions regarding specifications contained in Pub. 1179 has been changed. See Part A, Sec. 3.01.

.04 IRS has adopted a new requirement that all substitute statements must contain the tax year, form number, and form name prominently displayed together in one area of the statement. See Part A, Sec. 7.01 (6). Note: The proposal to eliminate the practice of furnishing one sheet of multiple form instructions was withdrawn. Although the IRS is concerned that a single sheet of instructions may be confusing to recipients, it may still be used.

.05 IRS has adopted new requirement relative to the quality of carbon used to produce statements to recipients. See Part A, Sec. 7.03 (4).

.06 On Form 1099–A, box 3, previously titled ‘‘Gross foreclosure proceeds,’’ was eliminated, and the title of box 4 was changed to ‘‘Fair market value of property.’’ See Exhibit B.

.07 On Form 1099–C, the title of box 6 (Copy A) was changed to ‘‘Check for bankruptcy,’’ and a new box 7 titled ‘‘Fair market value of property’’ was added. See Exhibit D.

.08 On Form 1099–R, a new box 9b, ‘‘Total employee contributions,’’ was added. See Exhibit K.

.09 On Form 1098, the title of box 2 was changed to ‘‘Points paid on purchase of principal residence.’’

1995–2 C.B. 355

.10 The next issuance of Publication 1179 (1996 revision) will include new verbiage for the paper and ink specifications for substitute forms to be filed with IRS. See ‘‘NOTE’’ in Part B, Sec. 2.02.