Master Guide to Form 1099 Compliance | E-Book

 2022 Master Guide to Form 1099 (E-Book)

Last revised: September 15, 2022

The 2022 Master Guide to Form 1099 Compliance covers the Form 1099 reporting issues and scenarios encountered in AP, highlighting changes which impact your 2022 year-end reporting and also guiding you through easy-to-understand explanations of the fundamental rules of this area of tax compliance applicable to your work in AP throughout 2023. 

Sections include updates to 1099 forms; changes mandated for electronic filing to the IRS; expanded IRS reporting for units of government and for third-party settlement organizations; new security protocols for using IRS electronic services; understanding Form W-9 and which payees may be exempt from being reported; Forms 1099-NEC and 1099-MISC explained with numerous examples of reportable payments; backup income tax withholding requirements and deposit due dates; the special reporting requirements which result from settlements and amounts payable to attorneys; due dates for Forms 1099 to the IRS and copies to payees; IRS “B” notices and proposed penalty notices; and more.

What's new for 2022? 

• Electronic filing mandate expanded for Forms 1099
• IRS to add a new alternative 1099 efiling service in January 2023
• New 1098-F filing required for 2022 from governments and government entities
• New lower dollar threshold for1099-K reporting by third-party settlement organizations
• Update for Forms 1099-NEC and 1099-MISC

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