What does the 972CG form represent?

The 972CG form is specifically used by the IRS to notify taxpayers about the failure to file certain tax information returns. This notice is sent to the employer primarily due to late filing of information returns, such as Forms W-2 or 1099. The form serves as confirmation that the IRS has not received the required information within the designated timeframe, which can affect various aspects of compliance for the employer.

While other forms might relate to tax returns or summaries, they do not serve the same purpose as the 972CG. The employer's annual federal tax return is generally reported using Form 1040 or 1120, and the annual summary of U.S. information returns can refer to Form 1096, which consolidates information returns. Reporting of payments under long-term care contracts pertains to a different aspect of tax filings and does not involve the notice provided by the 972CG form. Therefore, the understanding of the 972CG form being a notification of late information is particularly crucial for compliance and timely rectification by the employer.