Accounts Payable

1099 / 1042-S

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IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

Reporting baseball game ticket purchase

Q. For an alumni event we hosted, we purchased 50 tickets from the New York Yankees that included… Read More
IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

TIN matching and CP2011A notices

Q. 1. For TIN/name mismatch notices (CP2100A), is the list on that notice what the IRS has on file… Read More
IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

Rent payments to vendor identified as REMIC on the W-9

Q. We will be paying rent to a vendor that has selected the 'Other' box on the W-9 and listed… Read More
IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

Reporting trip expenses for retired employees

Q. My company owners took six retired employees on a trip to the Caribbean. I have to issue a… Read More
IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

Invoices by out of state vendor for equipment upkeep

Q. We are in California and are being billed by out of state vendor for their IT services agreement… Read More
IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

Tax reporting for foreign vendors performing work outside the U.S.

Q. I am seeing conflicting information online and need clarification. Are U.S. companies required… Read More
IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

Canadian contractor with both an SSN and a foreign tax ID

Q. We have a professional contractor how lives in Canada and provides phone consultations on a… Read More
IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

Missed deadline to reapply for FIRE TCC

Q. We did not apply for the new code by the August deadline and the link to IR-TCC to apply is not… Read More
IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

State filiing of 1099s when work is performed in multiple states

Q. We have corporate offices in Denver, Fargo, and Minneapolis. We have additional branch offices… Read More
IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

Settlement reporting on 1099s

Q. Are settlement claims exempt from 1099 reporting if the vendor receiving the settlement is an S… Read More
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