What must be done before submitting any forms or information to the IRS?

Before submitting any forms or information to the IRS, it is essential that the taxpayer must sign the consent to disclose form. This form allows for the proper authorization of sharing sensitive information, ensuring that the taxpayer’s rights to privacy are respected and upheld. The consent form serves to demonstrate that the taxpayer understands and agrees to the sharing of their information with the IRS or other entities, which is crucial for compliance with regulations regarding data privacy and confidentiality.

Without this signature, the submission could be unauthorized, potentially leading to legal and compliance issues for the bank or the taxpayer. This step is critical to ensure that all necessary permissions are obtained prior to any disclosure of information, thus aligning with best practices for handling taxpayer information in a secure and compliant manner.