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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.

Handling Vendor Invoices with Different Legal and DBA Names

Q. A vendor submitted a w9 with their invoice. A company name is in section one and a dba in… 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.

Reimbursing Faculty for Rental Payments During Research Travel

Q. A faculty member is renting a property from another faculty member while doing research in… 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.

Including or Excluding Vendor Expenses on Form 1099

Q. What is the best practice regarding expenses? Should they be included in the $ amount remitted… 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.

Sending B-Notice Letters for Deactivated Vendor Accounts

Q. I have a question on sending out B-notice letters for accounts that we filed in 2024 but… 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.

Determining 1099 Reporting Requirements for Common Business Payment Types

Q. We are working on categorizing payment types. We researched IOFM and couldn’t find an answer.… 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 Legal Settlement Payments to a Former Employee and Their Attorney

Q. We had a former employee go through a legal settlement. They were awarded $75,000. Of that… 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 Vendor Payments Upon Invoice Receipt

Q. Are there Best Class processes for paying vendors upon receipt of invoice? Does the best class… 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.

Backup Withholding Requirements for Deceased Royalty Owners

Q. We have a royalty owner that passed in 2015 and we have been unable to identify an heir to the… 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 Payments to Foreign Intermediaries and U.S. Beneficial Owners

Q. OSU is paying Venue West Conference Services Ltd (VWC) which is a foreign company. The payment… 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 of Contest Prizes Awarded to Foreign Individuals

Q. Our organization is giving a $350.00 gift card to a foreign individual as a prize for a contest.… 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.

State Reporting Requirements for 1099 Filings

Q. When reporting 1099s to the IRS, on the due date, which state should all the 1099s be reported?… 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 of Company-Paid Legal Fees for Former Officers

Q. Our company is paying the legal fees of former officers who are involved in ongoing litigation… 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-9 Name and TIN Mismatches in Vendor Records

Q. If we are able to verify that the TIN listed on a vendor's W-9 matches the name in Line 2 (DBA)… 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 Treatment of Foreign-Owned Disregarded Entities for U.S. Conference Sponsorship Payments

Q. My company needs to make payment to a disregarded, US entity owned by a foreign person. The… 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.

AP Automation Solutions for Routing Purchase Orders to Departments

Q. Does anyone use an AP automation program that can read and route purchase orders 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.

1099 Reporting Rules for Hotel and Event Venue Payments

Q. We made a payment to a hotel as the venue for an event, and the W-9 lists the payee as 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.

1099 Reporting and Accountable Plan Rules for Consultant Travel Reimbursements

Q. Is our institution required to 1099 a consultant for travel expense reimbursements if they are… 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 Requirements for Payments to Speakers and Agents

Q. Our institution paid a speaker's agent for a speaking engagement that was more than $600. The… 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 Rules for Payments to Tax-Exempt Organizations

Q. Do you need to send a 1099 to a 501C 6, 501C3 or 501C4 if you pay them over $600 in a year? I… 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.

AR Insights That Drive Cash Flow, Risk Management, and Growth

Q. In today’s volatile economic climate, what specific data-driven insights should AR teams… Read More
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