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. Does anyone know about Puerto Rico's backup withholding and the forms that need to be filled out and issued? I have a few Puerto Rican vendors I… Read More
Q. We are trying to adopt a new policy for unapplied payments/ unknown. Would you please provide some guidance if you have any information related… Read More
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