What is Publication 1345?
The Internal Revenue Service Publication 1345, a Handbook for Authorized e-File Providers of Individual Income Tax Returns is an important information source for tax preparers.
The IRS description says the handbook “provides rules and requirements for participation in IRS e-file of individual income tax returns and related forms and schedules.”
Downloaded in PDF form, the 59-page handbook also provides links to important IRS documents and guidance, from how to deal with the IRS or how to sign up for Quick Alerts emails, to what makes a preparer an Electronic Return Originator (ERO) and requirements for taxpayer rights to privacy and security of taxpayer information.
There’s also a lot of valuable information about how preparers can prevent rejected returns. A good place to start is the section dealing with Taxpayer Identification Numbers (TINs): “Having the wrong Name Control associated with a taxpayer’s TIN contributes to a large portion of TIN-related rejects.”
For newbie tax professionals, Pub 1345 can explain many of the more mysterious aspects of the tax business, providing an extensive glossary of terms commonly used in the field; clear explanations on banking products and how they work; and what is required of EROs – both before and after a return is electronically transmitted.
Veterans can find the handbook useful for tips and requirements on file security, identity theft protection and source listings of IRS information.