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.

IRS Penalties for Correcting 1099s After Receiving an Updated W-9

Q. We have a few vendors that sent an updated W-9 after 1099s were electronically filed, we need to… 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-MISC Reporting: Settlement Payments Made Directly to Clients

Q. If a settlement payment is paid to the client instead of the attorney, where does that amount go… 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.

Form 1042-S Reporting: Separating Income Sources on Itemized Invoices

Q. Should we separate the amounts for Form 1042-S reporting when the sources of income differ… 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 Reporting for Local Government Grant Reimbursements

Q. We are a local government, and we have a grant program where we reimburse an individual or an… 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.

Handling 1099-C Reporting Challenges in Workday

Q. Memorial Healthcare System switched ERPs from Lawson to Workday on 1/1/2024. Our healthcare… 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.

Improving Efficiency in 1042-S Reporting and Withholding

Q. Has anyone used RadiusPoint to process their utility and or telecom invoices? If so, please… 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.

Streamlining 1042-S Reporting and Withholding in AP

Q. From an organization structure and systems perspective, how are organizations managing 1042-S… 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 Requirements for Municipality Payments to Residents

Q. I work for a municipality and the city is issuing payment to some residents for sewer backup. 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.

Correct 1099 Reporting for Disregarded Entities

Q. We have a vendor who is operating as a disregarded entity under its parent company. The W9… 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 Settlement Payments to the Government 1099 Reportable?

Q. Is settlement payment to the government 1099 reportable? A. (Answered by IOFM's third-party tax… Read More
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