The IRS today released an advance version of Notice 2015-15 that includes text of a proposed revenue procedure as guidance for employers on employee consents used to support a claim for refund for overpaid taxes under the Federal Insurance Contributions Act (FICA) and the Railroad Retirement Tax Act (RRTA).
According to Notice 2015-15 [PDF 38 KB], the proposed revenue procedure is intended to clarify the contents of a valid employee consent.
A valid employee consent will:
The proposed revenue procedure also provides guidance as to what constitutes “reasonable efforts” to secure an employee consent when a consent is not obtained.
The proposed revenue procedure permits, but does not require, the employee consent to be requested, furnished, and retained in an electronic format, as an alternative to a paper format.
The proposed revenue procedure is not intended to require employers to solicit new employee consents for those requested prior to the date of publication of the final revenue procedure in the Internal Revenue Bulletin. However, an employer may rely on this proposed revenue procedure for employee consents requested before the date that the final revenue procedure is published.
The IRS notice includes a request for comments on the to-be-issued revenue procedure. In particular, the IRS requests comments regarding:
Comments are due by the end of April 2015 (the notice says “31 April 2015”).
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