Accounts Payable

W-9 / W-8

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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.

Canadian contractor with both an SSN and a foreign tax ID

Q. We have a professional contractor how lives in Canada and provides phone consultations on 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.

Payment to a name without an EIN

Q. Can my company make check payable to a brand name? The brand name is not registered with the… 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.

Non-U.S. entity directing payment to another entity

Q. We would like to confirm which party or parties we need to consider for tax information… 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 emergency payments made to students considered income?

Q. We are a university and have made emergency payments to students. These payments were made for… 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.

Release date of new W-9 form?

Q. The new W-9 was going to come out at end of October but I do not see it on irs.gov… 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.

Invoices to be paid to a different party than the one on the W-9

Q. In a hospital /  healthcare setting, we have vendors who turn in their W-9s with their group… 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.

Which form to issue a Canadian company, a 1099 or a 1042?

Q. Our university is paying a company located in Alberta, Canada for a speaker who will be engaged… 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.

Vendor with two W-9 forms

Q. A vendor submitted two W-9 forms -- one had the parent company name only; the second had the… 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.

Is it necessary to file a 1042-S form if no tax was withheld?

Q. We have a non-US vendor's W-8BEN-E and their form says they are exempt from withholding. The… 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.

Draft version of W-9

Q. On an IOFM webinar, they discussed that there was an October 2023 version of the Form W-9 being… Read More
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