1099 / 1042-S

Q. An individual has reached out asking to amend their 1042-S form to add in their US tax ID, which… Read More

Q. We purchased a product that was delivered to our University, and the vendor delineated the… Read More

Q. Our organization is a public university. Once our University files a 1099-C to the student and… Read More

Q. The 1099 amount we report is based on the payments that we have made, not the amount that the… Read More

Q. - One of our law firms engaged work with an outside consulting firm. The invoice from the… Read More

Q. Is there a penalty for filing a 1099 for a corporation even if they are technically exempt from… Read More

Q. Is the purchase of livestock for our University's farm (such as the purchase of a horse or cow)… Read More

Q. We recently made a payment to an "S" corporation for seed funding. As per our documentation, it… Read More

As the information reporting landscape continues to grow more complex, staying ahead of change is no longer optional, it’s essential. In this timely IOFM webinar, you’ll get the latest

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The IRS has released drafts of the 2026 versions of Form 1099-NEC and 1099-MISC, showing significant updates to how nonemployee compensation, tips, and overtime are reported. While the forms maintain

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The IRS has released drafts of the 2026 versions of Form 1099-NEC and 1099-MISC, showing significant updates to how nonemployee compensation, tips, and overtime are reported. While the forms maintain… Read More