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.

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Are You Being Audited by the IRS?

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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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Q. I have a question regarding a US TIN for Chapter 3 exemption code 04.  I recently attended the webinar for IRS form 1042 Compliance and there was… Read More
Q. We issued a 1099 to a vendor for services performed in 2018. They just got back to us stating that they had actually become a C Corporation as… Read More
Q. I work for a local government. The government entered into a settlement agreement with a neighborhood, which has a foundation that is classified… Read More

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