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.

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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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In March 2024, the IRS issued a final revised edition of Form W-9, Request for Taxpayer Identification Number and Certification. The 2024 version… Read More
Q. The IRS recently issued a new version of the Form W-9 (Rev. March 2024). What is the period of time where the former W-9 may still be accepted;… Read More

The annual Essential Checklist will help your organization to a successful Form 1099 filing season – smoother electronic filing – fewer

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