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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.

Best Practices for AP Approval Matrices and AR Policy Design

Q. I’m reaching out to request any available resources or best practices you can share… 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.

Best Practices for Reimbursing Expenses in Executive Recruiting

Q. How are companies handling the recruiting process and reimbursement for high level… 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.

Transitioning from FIRE to IRIS for 1099 Filing

Q. I've been using the IRS Fire System, but do I need to set up a new transmitter code for the IRIS… 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.

Deadlines and Rules for Filing Corrected 1099 Forms

Q. I filed 1099 forms for year 2024 for my government agency in January 2025. I have since made… 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.

Filing Form 1042-S Through IRIS vs. FIRE

Q. We currently file all our returns in FIRE. Can we apply for an IRIS Transmittal code (TCC) at… 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.

Marketplace Transactions, Foreign Sellers, and 1042-S Reporting Rules

Q. I’m seeking guidance on whether certain marketplace transactions create U.S.-source income for… 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 W-8IMY Forms and Withholding Statements from Foreign Partnerships

Q. I received a W-8IMY from a supplier in Australia. The supplier marked Chapter 3 status -… 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.

Incorrect Addresses on 1099 Forms

Q. Does the address on the 1099 matter to the IRS? A. (Answered by IOFM's third-party tax… 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 for 4H Livestock Sales with Commission

Q. We have 4H kids that particpate in the County Fair. When they sell their livestock, we send them… 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 Non-PO Invoices with Backdated Invoice Dates

Q. We have vendors that will submit their invoices in August with an invoice date of May. Does… 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.

Correcting a 1099-MISC After an Erroneous Payment

Q. Our company paid a beneficiary in 2022, reported in 2023 as 1099-MISC. It has now been brought… 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.

Fraudulent Vendor Payment and Liability Considerations

Q. I work for a community college and we had a real vendor reach out to us in June of 2025 with a… 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.

Foster Care Payments and 1099 Reporting

Q. Are foster care payments to individuals caring for children in foster care 1099… 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.

1042-S Reporting Requirements for Payments to Foreign Vendors

Q. We are looking in to 1042 reporting and if we are required to report. If we pay any foreign… 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 Payments to a DBA That Is a Disregarded Entity

Q. We have vendors that submit Form W-9 with a parent company name on line 1 and DBA on line 2,… 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 Hazardous Waste Removal Services Provided by a Corporation

Q. Would hazardous waste removal services be classified as "medical services" and thus 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 Reporting for Suppliers with the Same FEIN and Legal Name but Different Addresses

Q. Our team manages several suppliers who share the same FEIN and legal name but maintain separate… 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.

Tax Reporting for Class Action Settlement Payments Made to an Administrator

Q. We have a class action settlement payment to be made payable to a neutral third-party… 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 Conflicting IRS TIN and EIN Name Check Results

Q. Our TIN Check provider returns multiple types of results when checking TINs, including an IRS… 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.

Correcting a Vendor’s W-9: Do You Need to Issue a 2024 Form 1099?

Q. A vendor selected the LLC C federal tax classification on their Form W-9, so we didn't issue… Read More
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