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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.

Submitting multiple 1099 files to the IRS

Q. Can a company send multiple 1099 files (not forms) to the IRS, or must they all be combined 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.

OK to include the DBA name on a 1099?

Q. Can we include the DBA name on the legal entity's 1099? A. (Answered by IOFM's third-party tax… 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 expenses paid to an interview candidate

Q. We are reimbursing a candidate for their unsubstantiated travel expenses as a lump sum. If 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.

Escheatment process recommendations

Q. I am reaching out to inquire about the specific process and accounting procedures 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.

Reporting garnishment payments made to a law firm

Q. Our Payroll department received a debt garnishment notice from a law firm that acts as a debt… 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.

Resources for checking suppliers on government watch lists

Q. What are the best websites to use for checking supplier name, address and TIN to make sure 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.

Should California backup withholding also be reported on a 1099-MISC?

Q. Could you give me some guidance on using the state boxes on Form 1099-MISC? We report… 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.

Travel expenses for a potential donor

Q. I work for a university foundation. A development officer wants to pay for a potential donor to… 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 a settlement to a reinstated employee

Q. Is the settlement paid to a reinstated employee 1099 reportable? A. (Answered by IOFM's… 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.

Single-member LLC removed from the 2024 W-9 form

Q. On the revised W-9 for 2018, the IRS had Individual/Sole-Proprietor or Single-Member LLC listed… 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.

Company name change and EIN issue

Q. We have a vendor that we haven't yet paid. We learned their name changed and they are now an LLC… 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.

Expense reporting internal controls

Q. I am reaching out to check on the best practice for the retail industry when expenses are… 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.

Normal workload for one collector in a day?

Q. With B2B collections, what is the standard expectancy on the number of customer accounts to be… 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 a lump sum payment to subcontractors' employees

Q. We are a general contractor in the middle of a legal dispute where a second-tier subcontractor… 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 a credit card transaction for a U.S. service showing as a foreign vendor

Q. A credit card transaction for registration to a class, held in the U.S. and taught by a U.S.… 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.

Payer TIN wrong on all our 1099s

Q. When our 1099s were issued for the 2022 and 2023 tax years, our TIN number was incorrect. We use… 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 payments to ISPs

Q. Are monthly payments to internet service providers (ISPs) 1099 reportable if they 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.

W-9 showing a change in company name

Q. We currently have a vendor set up in our financial software as ABC Enterprises. We recently… 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 exemptions for prize money payments?

Q. My company paid prize money valued between $25k - $50k to some companies that are classified as… 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.

Unreimbursed expenses for deceased employee

Q. I work for a university and just found out an employee unexpectedly passed away before the meal… Read More
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