- Membership
- Certification
- Events
- Community
- About
- Help
How to handle a vendor name change
June 15, 2023
Q. What is the best way to handle a vendor name change when the tax ID and classification stay the same? Should a new vendor record be created or should the existing vendor record be updated? What does that do to 1099 filing at the end of the year? Will the IRS still recognize the prior vendor name and tax ID, or will the 1099 be rejected because the vendor name and tax ID no longer match?
A.
(Answered by Debra Richardson, a third party vendor master file…
Become A Member
Join IOFM today as a Professional, Business, or Enterprise Member — or upgrade your Starter Membership — to get access to this content and thousands of other Articles, Webinars, Expert Answers, Resource Downloads, and more!
Naturally, this forum doesn’t allow the kind of full information exchange necessary for the Institute of Finance & Management (IOFM) to provide legal advice and the Expert is not a tax attorney in any event. Please understand that the nature of our responses are limited by these constraints as well as the site’s Terms of Use. If you have further questions or suggestions about how we can improve IOFM, please let us know.
Ask The Expert is a member resource of IOFM and all advice provided is subject to site’s Terms of Use.
What are you waiting for?
