REG-121698-08

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Description: Final, temporary, and proposed regulations under Section 7216 update the rules regarding disclosures of tax return information by tax return preparers, providing an exception allowing a US tax return preparer to obtain consent from a taxpayer to disclose a taxpayer's social security number (SSN) to a non-US tax return preparer when the US preparer makes the disclosure through the use of an "adequate data protection safeguard," the non-US preparer receives the SSN via an "adequate data protection safeguard," and the US preparer verifies the maintenance of the adequate data protection safeguards in the request for the taxpayer's consent. The regulations also provide clarification that the general SSN masking rule and the exception thereto apply only to consents related to returns in the Form 1040 series, and clarification regarding US preparers on temporary travel status. The regulations are applicable to disclosures of tax return information occurring on or after January 1, 2009. A public hearing on the proposed regulations is scheduled for October 6, 2008.
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