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Compliance
The IOFM keeps members up to date on best practices for identifying and mitigating regulatory risks related to: 1099/1042s, W-9/W-8, Unclaimed Property, OFAC, Sales & Use Tax, Value Added Tax. The Institute shares peer-tested policies and procedures and supports AP practitioners in their role as the last line of defense against fraud and abuse.
IOFM Members also have asscess to 12 Live Compliance Webinars annually, helping avoid costly delays and fines.
Featured Content
Are You Being Audited by the IRS?
As we approach 1099 season, it's crucial to have a risk mitigation and communication plan in place to deal with an eventual audit. Learn the five things AP departments need to have nailed down — and the six things the IRS will ask for — if it initiates an audit.
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We offer our vendors the option to send us refunds for overpayments, duplicate invoice payment, etc. via check or electronic transfer. When… Read More
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Is a 1042-S required to be provided/filed, if no payments are actually made? We operate a condo hotel, and collect revenues through a rental… Read More
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We have paid a settlement on a matter between our company and two plaintiffs, collectively. The matter is not related to back wages or physical… Read More
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