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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.

Are Poundage Fees Paid to a City Marshal Reportable on Form 1099-NEC?

Q. Are poundage fees that are a percentage of a settlement that are paid to the City Marshall… 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 Vendors with Early Payment Discounts

Q.  We have a few vendors we have early pay discount with that are also 1099 reportable. Should… 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 Interest on Local Government Refunds for 1099-INT

Q.  We are a local government, and we periodically issue refunds for business, professional &… 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 Payments in Multiple Currencies for 1099 Filing

Q. We have a question with a vendor that has to address locations one in United States and another… 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 Unreported Incentive Payments and Missing W-9s

Q. One of our departments made incentive payments in 2023. The payees were paid as one-time… 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 Income for Remote Services from Canada Considered U.S. Source Income?

Q.  For a consultant who lives in Canada that will be remote accessing our servers here in 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.

Do Newly Identified 1099 Suppliers Require Electronic Filing?

Q. I understand that 1099 Misc and Nec need any corrections to be filed electronically if 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.

Navigating Employee Appreciation: Gift Cards, Rewards, and Tax Implications

Q. We are interested to know what other companies do when giving gift cards as employee… 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 Payments to Recycling Vendors:

Q.  We have a vendor that charges us to dump our concrete and asphalt at their location and they… 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 Dividends Between Domestic and Foreign Entities: 1099-DIV vs. 1042-S Guidance

Q. In 2024 we paid dividends to two of our other company entities. The first amount was paid… 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.

IRS FIRE system test file

Q. Do I go on the IRS website to do the FIRE test? As of Friday, 12/27/24, it was not… 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.

Correct sourcing for Amazon AWS server storage provided by a foreign company

Q. If a foreign company is using Amazon AWS for server storage to in turn provide a service to our… 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 of settlement payments by business entity type

Q. Are settlements paid to LLC-C, LLC-S, C-Corp, S-Corp exempt from 1099 reporting? A. (Answered by… 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 state to 1099-report a royalty payment if different from the purchasing organization?

Q. Which state is a 1099 reportable royalty payment reported to when the vendor is in a different… 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 reportability of freight charges associated with product purchases

Q.  It's my understanding that freight charges associated with the purchase of products are not… 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.

Reportability of health care premiums paid to an HMO

Q. Are premiums for employee health care paid to an HMO reportable on 1099-NEC, Box 1 (unless 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.

Florida sales tax on commercial rent

Q. Would Florida sales tax on commercial rent still be charged, collected and remitted on a rent… 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.

Unclaimed property when original owner merged with another company

Q. We are a holder of an accounts receivable credit balance for Company ABC. Based on research with… 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.

Backup withholding when changing from check to credit card payment

Q. We are a non-resident payee with a vendor in California who is subject to federal backup… 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 that is an unincorporated association

Q. We currently have a vendor that is an Unincorporated Association. They are a reciprocal risk… Read More
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