What is a report agent?
A Reporting Agent is an accounting service, franchiser, bank or other person who complies with Revenue Procedure 2012-32 and is authorized to prepare and sign employment tax returns electronically for a taxpayer. Reporting Agents may transmit their own returns or use the services of a third-party transmitter.
How do I become an IRS reporting agent?
The Report Agent’s PIN application process is a 5 step process:
- Have each client complete and sign a Form 8655.
- Complete a “Reporting Agent’s List.”
- Send the Forms 8655 along with a “Reporting Agent’s List” to the IRS.
- Complete the Reporting Agent’s PIN Setup. Once a client has been approved for.
What is reporting agent authorization?
IRS Form 8655, Reporting Agent Authorization, gives a reporting agent the ability to file forms and make payroll tax deposits on your behalf. An IRS reporting agent can use your EIN and sign forms for you. The reporting agent might be an accountant or a payroll tax filing service.
How do I get a reporting agent pin from the IRS?
The Reporting Agent PIN is issued through the IRS e-file Application Process as a result of selecting Reporting Agent as a provider option on the application. Reporting Agents may transmit their own returns, or may use the services of a third party transmitter. Complete Form 8655 for each client.
How do I remove a reporting agent?
A reporting agent can withdraw their authorities by filing a statement with the IRS or by using the delete process. The receipt of a new Form 8655 revokes a prior reporting agent authorization beginning with the period indicated on the new Form 8655.
What is IRS Ero?
Definition. The Electronic Return Originator (ERO) is the Authorized IRS e-file Provider who originates the electronic submission of a return to the IRS. The ERO is usually the first point of contact for most taxpayers filing a return using IRS e-file.
What is a RAA in payroll?
REPORTING AGENT AUTHORIZATION. COMPLETION GUIDELINES. The Reporting Agent Authorization (RAA; formerly named LPOA) is a legal document signed by the client authorizing ADP to file and deposit their taxes.
Where do I send my reporting agent list?
Forms 8655 and paper Reporting Agent Lists may also be faxed to the RAF Team at 855-214- 7523. The IRS will accept and process Authorizations for submissions of Federal Tax Deposits (FTDs) and Federal Tax Payments (FTPs) for Forms 940, 941, 943, 944, 945, 720, 1041, 1042, 1120, CT-1, 990-PF and 990-T.
Can 8655 be signed electronically?
Reporting Agents are not permitted to secure an electronic signature for Form 8655 from the taxpayer or their authorized representatives in the event that their identity cannot be verified via inspection of official state or federal government-issued photo identification.
Can a W4 be signed electronically?
Benefits of Form W4 Signed Online Nowadays, federal documents like W-4 can be completed and signed electronically, as long as the procedures for valid e-signatures are followed. First, e-signing W-4 forms bring about automation and onboard new hires from any location.
What do you mean by reporting agent file?
Records Maintenance – The Reporting Agent File (RAF) is a database that contains reporting agent and taxpayer/client records.
What can I do with form 8655 reporting agent authorization?
About Form 8655, Reporting Agent Authorization. Use this form to authorize a reporting agent to: Sign and file certain returns; Make deposits and payments for certain returns; Receive duplicate copies of tax information, notices, and other written and/or electronic communication regarding any authority granted; and.
What is the RAF form for reporting agents?
The service has prescribed Form 8655, Reporting Agent Authorization PDF, as the appropriate authorization for use by a taxpayer to designate a reporting agent to perform one or more of the following acts on behalf of a taxpayer: File and sign certain tax returns, electronically where required by Revenue Procedure 2012-32.
Why are reporting agents important to the IRS?
Reporting Agents have long served an important role in our nation’s tax collection system as a conduit between employers and the IRS. Reporting Agents improve the efficiency of IRS tax collection and compliance.
