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.

Vendor that is an unincorporated association

Q. We currently have a vendor that is an Unincorporated Association. They are a reciprocal risk… 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.

Reporting a payment to a U.S. agent representing a foreign performer

Q. We contracted with a US company that is an agent of a foreign music choir for the choir 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.

1099 reporting for an LLC providing services in multiple states

Q. We have a Limited Liability Company-Partnership vendor providing services for our University in… 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.

Consultant from Canada remotely performing system setup

Q. If a consultant company from Canada will be remote accessing our servers in the U.S. to setup… 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.

Payment to an expert in a court hearing

Q. If someone is a expert for a court hearing and their W-9 states they are an individual?1 - Would… 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 postage paid to a mailing company apply to the reporting threshold?

Q. My company uses an LLC to print and mail its newsletter. Does the amount paid to the print… 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.

Record retention requirements for 1099 forms

Q. How long are you as a issuer of a 1099 form required to retain the records of those forms that… 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.

Are outdated 1099 blank forms still useable?

Q. We ordered a significant amount of 1099-NEC and 1099-MISC forms last years under the impression… 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.

Are casino prize giveaways 1099-reportable?

Q. I am an AP manager for a hotel/casino. We hold sweepstakes where a customer can win gift cards… 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 reportability of lodging at a hotel

Q. Would a hotel payment we made for lodging (the hotel is a partnership) be reported on a… Read More
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