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Handling Vendors Using Multiple Tax IDs
June 25, 2025
Q.
We have a long-standing vendor that has now merged with another company. They state that payment remittance will stay the same, but they are issuing invoices under the other company's name, which, of course, has a different tax ID. For 1099 reporting, should we create a new vendor in our system under the new tax ID or can we keep everything the same?
A. (Answered by IOFM's Third-Party Vendor Master File Advisor)
When vendors merge, get acquired, or other change that results in a tax ID…
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Naturally, this forum doesn’t allow the kind of full information exchange necessary for the Institute of Finance & Management (IOFM) to provide legal advice and the Expert is not a tax attorney in any event. Please understand that the nature of our responses are limited by these constraints as well as the site’s Terms of Use. If you have further questions or suggestions about how we can improve IOFM, please let us know.
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