Ensure a smooth year-end

IOFM's popular Master Guides to 1099 and 1042-S Compliance are now available for 2018. 

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These tools serve as indispensable resources that our members turn to as they navigate the complexities that go along with maintaining compliance in an ever-changing regulatory environment. Each guide contains comprehensive information concerning IRS rules and regulations, what is reportable, when and how to file to the IRS, compliance checklists, and a year-end review that will save you time and help you avoid penalties.

New for 2018

IOFM’s Master Guides are entirely digital, which means you can access them anywhere – at the office, at home, and on any device you choose. (No more lugging bulky books around!) They are easy to navigate, searchable and, in the event that you need it, printer-friendly too. Master Guides are available for free for our Business and Enterprise Members, and for $100 each for our Professional Members. To learn more about the benefits of IOFM Membership, visit our Join Today page.

1099 product image 150.png 2018 Master Guide to Form 1099

The 2018 Master Guide to Form 1099 provides detailed instruction surrounding the reporting rules, regulation updates and changes, and provides indexed information for the very wide range of reporting scenarios that you could encounter in Accounts Payable. The wealth of supporting documentation will help ensure that you are reporting accurately, on-time, and stay in compliance. 

As closing the tax gap continues to occupy both Congress and the IRS, there are continued IRS enforcement efforts designed to increase reporting by payers, increase the withholding of federal tax where required, and produce more accurate reporting of income by taxpayers.

Highlight and important updates from the 2018 edition include:

  • New tax rate for backup withholding 
  • January 31 IRS filing due date without automatic filing extensions for some 1099s 
  • New edition of Form W-9 
  • Regulatory changes in the threshold for mandatory electronic filing of 1099s 
  • Penalties increased for incorrect and late-filed 1099s

2018 Master Guide To Form 1042-S Compliance2018 Master Guide to Form 1042-S

The 2018 Master Guide to Form 1042-S Compliance The 2018 Master Guide to Form 1042-S provides detailed instruction on new Regulations, Forms and Instructions issued in 2018, updates affecting this year’s reporting, an in-depth look at current rules (NFFEs, FATCA, ECI, and more), and when and how to file. The book includes a full glossary, a compliance and year-end checklist, as well an appendix.

Payers must be able to identify their payees as U.S. or non-U.S. individuals or entities from initial contact with them, as well as determine whether payments made to them throughout the course of the year require withholding of U.S. tax and reporting to the IRS.

Highlight and important updates in the 2018 edition include: 

  • IRS changes to the 1042-S form for 2018 reporting
  • Revised IRS Form 8233 and instructions for foreign individuals paid for services
  • Regulatory requirements to validate tax treaty benefit claims
  • What to expect in new compliance enforcement initiatives by IRS


IOFM’s Master Guides to 1099 and 1042-S Compliance are produced in partnership with COKALA Tax Information Reporting Solutions, LLC. COKALA’s team is part of the team that helps answer our member’s toughest IRS question through our Ask the Expert feature.

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