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Compliance
The IOFM keeps members up to date on best practices for identifying and mitigating regulatory risks related to: 1099/1042s, W-9/W-8, Unclaimed Property, OFAC, Sales & Use Tax, Value Added Tax. The Institute shares peer-tested policies and procedures and supports AP practitioners in their role as the last line of defense against fraud and abuse.
IOFM Members also have asscess to 12 Live Compliance Webinars annually, helping avoid costly delays and fines.
Featured Content
Are You Being Audited by the IRS?
As we approach 1099 season, it's crucial to have a risk mitigation and communication plan in place to deal with an eventual audit. Learn the five things AP departments need to have nailed down — and the six things the IRS will ask for — if it initiates an audit.
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Latest
Q. For 1099 purposes if a royalty holder is a corporation do we still send a 1099? Or are they exempt from 1099 filing due to corporate tax filing… Read More
Q. Do you issue a 1099 to an S-corp if it is for rent?
A.
(Answered by IOFM's third-party tax expert)
No, you do not need to send a 1099-MISC for… Read More
Q. We acquired a company in 2024 and we sent money to lawyers, consultants and the company that we acquired. Should I report all of these payments… Read More
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