Strategies to Handle Vendor Calls and Returned 1099s After IRS Tax Form Distribution to Vendors

Once your recipient tax forms are distributed to vendors and filed with the IRS, there are still two critical processes that can help your company stay compliant. Handling vendor calls and returned recipient tax forms are critical to maintaining compliance to avoid regulatory fines. Learn effective tips for handling vendor inquiries, including a recommended document to standardize responses. Gain insights into a 5-step process for managing returned recipient tax forms, with resources to locate and format vendor addresses for resending. Lastly, discover actionable tips you can put into place immediately to reduce tax related vendor communications next year.

Immediate Takeaways:

• Why it’s so important to process vendor calls and returned recipient tax forms for your organizations.
• Tips to successfully handle vendor inquiries including a recommended document to standardize responses.
• A 5-Step process to handle returned recipient tax forms including resources to find and format vendor addresses to resend.
• Tips to add to your vendor onboarding and maintenance process to reduce the number of vendor calls and returned recipient tax forms next year.

Debra Richardson 

Debra is an Accounts Payable speaker, consultant, and trainer with over 20 years of experience in AP, AR, general ledger, and financial reporting for Fortune 500 companies including Verizon, General Motors, and Aramark. In her consultancy, she works with vendor onboarding teams to add authentication techniques, internal controls, best practices and vendor validations to prevent fraud, fines and bad vendor data. A Certified Fraud Examiner (CFE), she is the President of the Central Atlantic Region IOFM Chapter and IOFM’s Ask The Expert for the Vendor Master File category. She hosts a weekly podcast “Putting the AP in hAPpy” and has a YouTube channel where she posts weekly tips on the vendor setup and maintenance process.

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.