1099 and 1042-S Compliance Insights and Updates from the IOFM Master Guides for 2023

The 2023 Master Guides to Form 1099 and 1042-S Tax Compliance are now available from IOFM and this Editorial Webinar will share some of the insights, updates and resources the Guides provide for your organization’s 2023 year-end tax information reporting and 2024 year-long tax compliance tasks.

Among the top issues for discussion are:

• Electronic filing now a requirement for nearly all filers of Forms 1099 and 1042-S 
• The two new IRS E-filing systems available for 2023 year-end filing 
• New IRS Form W-9 effective October 2023 for obtaining payee information 
• Increase in penalty amounts for information return failures 
• How IRS Combined Federal/State E-filing helps you meet many state 1099 requirements 
• Tax treaty changes 
• How the Form 1099 Master Guide helps you handle IRS B Notices and proposed penalty Notices 
• The 1099 Guide’s state 1099 reporting references, synopses and links

Mary Kallewaard
Principal, Cokala Tax Information Reporting Solutions, LLC

Mary Kallewaard is a founding member of Cokala Tax Group where she oversees project management, monitors federal regulatory and legislative developments to provide tax technical compliance assistance to clients, and is the primary author of Cokala’s weekly bulletins on federal information reporting and withholding tax compliance.  She formerly was appointed and served as Chair of IRPAC, the Information Reporting Program Advisory Committee to the IRS Commissioner and served two additional years as an IRPAC member.

Mary has specialized in tax information reporting compliance for nearly 25 years and prior to co-founding Cokala her work included editing and writing for specialized tax compliance publications and developing the curriculum for training programs for tax information reporting and withholding compliance.  She also served in elected and appointed positions in municipal government.  

Grace Chlosta
Content Manager, IOFM

Grace Chlosta joined the Institute of Finance & Management (IOFM) in 2022 in a new role for the team as the Content Manager. She is responsible for the planning, organization, development, and implementation of all the content for IOFM’s digital products and (virtual and in-person) events. Grace is committed to ensuring that IOFM’s content stays timely, relevant, and actionable for all financial operations professionals, and works closely with a team of content developers, industry leaders, and subject matter experts to guarantee this happens.