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.

W-8s and credit card payments

Q. I have a few questions regarding W-8/1042 reporting and credit card payments. If possible, could… 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.

Should a 1099 be issued to an S-corp for a pass-through payment?

Q. We received an inquiry from a vendor we paid in 2023. They are an S Corporation so we did 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.

Students and trainees article of the U.S. income tax treaty

Q. Our university is working with a foreign payee (entity - corporation) from whom we are… 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.

W-8IMY and 1099 or 1042-S reporting

Q. We are contracting with a US entity, when I asked for a W-9, they sent a W-8IMY showing the… 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.

Foreign vendor providing software access and cloud storage

Q. If a Canadian vendor is providing a three-year software membership for access to a classroom and… Read More

1099 reporting of customer refunds

Q. If we issue a refund to a customer are we required to send them a 1099, assuming the refund is… 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.

Is a 501(c)(3) organization receiving medical payments 1099 reportable?

Q. I have a 501(c)(3) organization that is receiving many medical payments for services rendered… 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.

Are custom-made prosthetics 1099 reportable to the manufacturer?

Q. If I have a company that makes patient specific orthotics and prosthetics, is that reportable… 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.

1099 submitted to payee with incorrect TIN

Q. If you filed your 1099s correctly to the IRS with the correct payer TIN, but mailed the payee… 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.

W-8BEN-E for non-U.S. source income

Q. Our university has a vendor from India that is recruiting students from within India to come to… Read More
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