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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.

Reporting Payments to a Foreign Beneficiary of a Deceased Employee

Q. We are issuing a final warrant for a deceased employee to their beneficiary. We sent a W-9 Form… 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.

Benchmarks for Trade and Non-Trade Deductions in AR

Q. What would be the benchmark for Open Trade and Non-Trade deductions balance as a percentage of… 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.

Common Thresholds for 2-Way Match Auto-Approval in PO-Based Invoicing

Q. Currently our threshold for PO based invoices for 2 way match is $150. Anything under $150 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.

1099 Reporting Rules for Legal and Medical Settlement Payments

Q. We are reimbursing a claimant for medical payments based on a settlement agreement. 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.

Best Practices for Gift and Prize Verification Forms and 1099 Reporting

Q. We currently have a gift/prize verification form that we require recipients to complete when 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.

Handling Tax Reporting for a Foreign Disregarded Entity with a U.S. Beneficial Owner

Q. We received a W-8BEN-E from a Canadian supplier whose beneficial owner is a US entity and 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.

Best Practices for Missing Receipt Affidavits: Limits, Thresholds, and Controls

Q. What are best practices for Missing Receipt Affidavits for employee corporate card expenses 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.

Missed Form 1042 Filing with No Withholding: Should You Still File?

Q. My team recently realized the 1042 form for TY 2021 and 2022 were not filed with the 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.

How to Report Easement Payments to a Foreign Landowner: Tax Treaty and Form 1042-S Guidance

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 Employee Separation Agreements

Q. What is the amount that should be reported to an ex-employee in this following scenario. Note:… Read More

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