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BUSINESS TAXPAYERS: INFORMATION RETURNS DUE TO PAYEES SOON

 PHOENIX, Jan. 12 /PRNewswire/ -- Information returns recording certain payments made in the course of a trade or business must be provided to payees by Monday, Jan. 31, 1994, an IRS spokesperson said today.
 An IRS Form 1099 can be used to report such payments. A copy of each form must be sent to the IRS by Feb. 28, 1994.
 Examples of payments subject to this requirement are interest, dividends, rents, royalties, pension or profit-sharing distributions, and payments for services performed by persons not treated as a business' employees. Additionally, certain business transactions must also be reported, such as broker or barter transactions and certain real estate transactions.
 Further information can be found in IRS Publication 15, "Employer's Tax Guide," and in the booklet "Instructions for Forms 1099." Both are free at your local IRS office or by calling, toll-free, 800-TAX-FORM.
 -0- 1/12/94
 /CONTACT: Marty Hosimer of the Internal Revenue Service, 602-207-8488/


CO: Internal Revenue Service ST: Arizona IN: SU:

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Date:Jan 12, 1994
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