# Proposed Collection; Comment Request for Form 1099-K; Correction
**AGENCY:**
Internal Revenue Service (IRS), Treasury.
**ACTION:**
Correction to notice and request for comments.
**SUMMARY:**
This document contains a correction to a notice and request for comments that was published in the *Federal Register* on Wednesday, January 26, 2011 at 76 FR 4744 inviting the general public and other Federal Agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)) and as part of its continuing effort to reduce paperwork and respondent burden by the Department of the Treasury. Currently, the IRS is soliciting comments concerning Form 1099-K, Merchant Card and Third Party Payments.
**FOR FURTHER INFORMATION CONTACT:**
Requests for additional information or copies of the form and instructions should be directed to Ralph Terry at (202) 622-8144, or at Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or through the Internet, at *[email protected]* .
**SUPPLEMENTARY INFORMATION:**
**Background**
The notice and request for comments that is the subject of the correction is required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)).
**Need for Correction**
As published, the notice and request for comments for Proposed Collection; Comment Request for Form 1099-K contains an error that may prove to be misleading and is in need of clarification.
**Correction of Publication**
Accordingly, the publication of the notice and request for comments for Proposed Collection; Comment Request for Form 1099-K, which was the subject of FR Doc. 2011-1547, is corrected as follows:
On page 4745, column 1, under the caption “ *SUPPLEMENTARY INFORMATION* :”, lines 5 thru 25, the language “ *Abstract:* This is a new form is in response to section 102 of Public Law 111-147, the Hiring Incentives to Restore Employment (HIRE) Act. The form reflects a new non-Code general business credit for the retention of certain qualified individuals hired in 2010. The credit is first available for an employer's income tax return with a tax year ending after 3/18/10 where new hired employees hired after 2/3/10 and before 1/1/11 worked not less 52 consecutive weeks where wages paid in last 26 weeks of employment were at least 80% of wages paid in first 26 weeks. These requirements are to be met before employer is legible for the lesser $1,000 or 6.2% of wages paid by the employer to the employee during the 52 consecutive week period of each qualified retained worker.” is removed and replaced with the language “ *Abstract:* This is a new form is in response to section 3091(a) of Public Law 110-289, the Housing Assistance Tax Act of 2008 (Div. C of the housing and economic Recovery Act of 2010). The form reflects payments made in settlement of merchant card and third party network transactions for purchases of goods and/or services made with merchant cards and through third party networks.” in its place.
LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel, (Procedure and Administration).