Open Letter From IRTA Executive Director Ron Whitney
Subject: IRS Web Site Barter Section Updates
Dear Modern Trade and Barter Industry Member:
The International Reciprocal Trade Association has been working
with the IRS to update their
www.irs.gov web
site sections that pertain to the barter industry. As a result, many
new and positive changes have been made to these sections.
In an effort to improve the overall education level, and to minimize
non-compliance matters related to barter tax reporting, the IRS
has requested IRTA to ask barter exchange owners to put the new IRS
web site sections concerning barter on their individual web sites.
The first set of web site links listed below is titled
�Links for Exchange Members.� We suggest you post all four of
these links on your web site since they provide helpful IRS barter
information for your exchange members and/or prospects
A
second grouping titled �Links Exchange Owners Need to Understand�
are links containing important information that as exchange owners
you need to be aware of, but do not need to be posted on your web
site since they apply specifically to exchange owner�s IRS reporting
requirements.
We suggest that you cooperate with the IRS�s recommendation and post
the �Links for Exchange Members� on your web site. By doing so you
will be increasing the knowledge level of your members regarding IRS
barter reporting, while also positioning your exchange as a credible
authority on IRS barter issues. We also trust you will find the
�Links Exchange Owners Need to Understand� helpful and
enlightening.
Thank you for your time and attention.
I. Links For Exchange Members:
Do You Barter?
Click here
Bartering Tax Center
Click here
Bartering Income
Click here
Tax Responsibilities of Barter Participants
Click here
II. Links Exchange Owners Need To Understand:
Barter Exchanges
Click here
Topic 420 - Bartering Income
Click here
Tax Requirements for Barter Exchanges
Click here
Backup Withholding �B� Processes
Click here
Taxpayer Identification Number (TIN) Matching Program
Click here
Publication 1281: Backup Withholding For Missing And Incorrect Name/TIN(S)
Click here
For more information, please feel free to contact me below.
Ron D. Whitney
Executive Director, IRTA
524 Middle Street
Portsmouth, VA 23704
Ph: 757-393-2292
Fax:: 757-257-4014
ron@irta.com
www.irta.com
Skype ID: Ron.D.Whitney
