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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.

Reporting Garnishments for Independent Contractors on 1099 NEC

Q. When we are presented with paperwork that we need to withhold a garnishment or child support… 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 Attorney Payments on Settlement Damages

Q. We have issued a payment to attorney only for settlement damages for a prior employee. Do we… 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.

Filing 1099-INT Forms for Prior Years: What You Need to Know

Q. We have just recently found that we need to file 1099-INT forms for 2020, 2021, 2022, 2023, and… 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.

Including a Foreign Unverified TIN on a 1099 Form

Q. If a borrower's Tax ID Verification is set to Foreign Unverified, but they have a TIN number,… 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.

Can You Submit Two 1099-NEC Forms to the Same Recipient?

Q. Will the IRS allow you to submit two 1099NEC to the same Recipient for the same box, two… 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.

Who Owns the Credit Application Process in Your Organization?

Q. I work in Accounts Payable and would like to know who would be the business owner of credit… 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.

Do You Issue 1099s for LLCs Marked as S-Corp or C-Corp on W-9s?

Q. I am confused on the LLC W9's that are marked S- corp, or C-corp If the payments were 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.

Issuing a 1099 for Sole Proprietors with EINs and Name/TIN Matching Issues

Q. I have several W9s which has a owner name on Line 1, a Business Name on Line 2, Individual/Sole… 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 Filing Obligations in Massachusetts: Nexus and Reporting Requirements

Q. We have a few companies we need to issue 1099-NEC or 1099-MISC forms to. If we don't have nexus… 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.

Settlement Payments and Reporting Responsibilities: Defendants and Co-Defendants

Q.  Defendant and co-defendant enter into a $10,000 settlement agreement with plaintiff. Defendant… 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 a Conference Fee Paid to a Foreign Company Reportable on Form 1042?

Q. A Canadian company held a conference in the U.S. We paid to have an employee attend. Is that fee… 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.

Insights and Best Practices for Vendor Portals

Q. I would like some feedback on experiences implementing or rolling out a vendor portal to your… 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.

Reimbursing Customers for Travel: Does it Require 1099 Reporting?

Q. We sometimes reimburse customers who attend conferences or events with us for their travel… 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.

Foreign Vendor Identification: Handling Missing TINs and SSNs for Reporting

Q. I have two foreign vendors that are missing a TIN or SSN. One is also missing  DOB. What… 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.

Invoice Due Dates vs. PO Terms: Managing Payment Timing and Compliance

Q.  At our organization, our payables system is set up so that it takes the Purchase Order (or… 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.

When to Use 1099-NEC vs. 1042-S for Foreign Entities

Q. My company received an updated form W9 from a US company we've done business with for several… 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 Guidelines: Catering, Smart Boards, and Services Explained

Q. We have a vendor who prepares and delivers meals to a charter school. They do not set up or… 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.

Handling 1042 Forms for Foreign Vendors: Key Considerations for Tax Treaty Benefits

Q.  We have a 1042 Vendor that a citizenship of one foreign country and permant address is 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.

Reporting Workers' Compensation Claim Payments: Are They 1099-MISC Reportable?

Q. We pay another company to handle our workers comp claims. We pay a fee per claim, along 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.

Handling W-8BEN-E Forms: What to Do When Part III is Blank

Q. We received a W8 BEN-E for a Canadian vendor. They left Part III (Claim of Tax Treaty Benefits)… Read More
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