Accounts Payable

1099 / 1042-S

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IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

W-8BEN-E for non-U.S. source income

Q. Our university has a vendor from India that is recruiting students from within India to come to… Read More
IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

Does the IRIS template require all caps?

Q. When uploading information into the IRIS template, is it required to use all capital letters and… Read More
IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

1099 reporting of payments made from bank escrow and trust accounts

Q. I work for a law firm. We have escrow bank accounts and trust bank accounts that we hold funds… Read More
IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

County government obligation to issue 1099-MISC?

Q. 1. Please indicate whether my county government needs to issue a 1099-MISC to a homeowners under… Read More
IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

Filing 1099 corrections electronically

Q. I attended the 2023 Essential Year End Checklist for Successful 1099 reporting webinar. There… Read More
IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

Supplier requesting a revised 1099 after it was already filed with the IRS

Q. We received a W-9 in 2023 from a supplier. The business name was a company, and the S… Read More
IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

1099 reporting of a stipend paid an employee for a scholarship program

Q. If an existing employee is getting a stipend for a scholarship program paid by the company, do… Read More
IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

1099 correction for a returned stipend payment

Q. We have a question about responsibility for issuing a corrected 1099. The supplier was issued a… Read More
IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

Determining whether a vendor is foreign

Q. We have a vendor that provided a completed and signed W-9 form, but their EIN starts with 92,… Read More
IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

Updating IRS transmitter control code information

Q. How do we update our organization's 1099 filing authority in the FIRE and IRIS systems? The… Read More
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