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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.

Understanding LLCs Classified as Partnerships on Form W-9

Q. When a vendor marks the LLC check box but then puts P as the classification, I would select 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 Missed 1099 Filing Requests Beyond the Statute of Limitations

Q. If we have a supplier requesting for a copy of their 1099 from 4 years ago, but based off our… 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 Requirements for Payments Made Through Third-Party Platforms

Q. We have numerous corporate credit card payments facilitated by third party platforms like… 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.

Addressing Missing Sales Tax on California Invoices

Q. If I placed an order in California, and the goods are delivered in California. When I received… 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.

NetSuite 1099 Vendor Categorization and Year-End Reporting Best Practices

Q.  I’m hoping to get some real examples from people that use NetSuite ERP system. 1. How do you… 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 Uncashed Checks Issued to Defunct Charities: Compliance Considerations

Q. Can you void uncashed checks issued to charities and reissue to another charity? I think 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.

Which KPIs Should AP Provide to Management—and How Often?

Q. I've been tasked with figuring out which KPIs from Accounts Payable perspective would be useful… 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.

Classification Challenges for Retired Employees Rehired as Contractors

Q. We are a government agency, and many of our employees took President Trump's deferred… 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.

Lump Sum Payment to Offset Insurance Rate Loss: Is It Taxable?

Q. We are a financial institution holding a mortgage note. Our servicing area failed to timely… 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.

Balancing Supplier Bank Account Confirmation with Internal Control Requirements

Q. I have a supplier that sent us their Bank Account details, only listing the last 4 number. 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 Verifying Supplier ACH Updates and Preventing Fraud

Q. We are looking to find a better way to verify supplier changes such as ACH banking information.… 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.

Do Grant Recipients Need a 1099-MISC? Clarifying Reporting Requirements

Q. Should grant recipients receive a 1099-MISC? I have had several grant recipients inquire about 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.

Lessons Learned from Oracle Cloud ERP Implementations for AP Professionals

Q.  We are at the early stages of implementing Oracle Cloud as our new ERP and I am looking 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.

W-9 on File, But Vendor Has UK VAT Number—Should You Request a W-8?

Q. We have a supplier that has a valid W9 as a partnership. However, they have now sent an invoice… 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 Requirements for Reimbursements to Tribal Members with Federal Grant Funds

Q. I'm needing some clarification on when I'm entering a tribal member in as a vendor and 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.

Proper 1099 Reporting for Car Seat Technician Stipends

Q. We sent a 1099NEC to a person who provide a service called car seat technician stipend for car… 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.

IRS Guidance on Reporting Gifts, Branded Items, Meals, and Perishables

Q. Does the IRS have specific thresholds for reporting gifts and company-branded gifts, including… 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.

Using a W-9 with a Legal and DBA Name When the Invoice Differs

Q. My company received W9 with a legal and DBA name however, the invoice does not reference the 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.

1099 Reporting Guidelines for Uncashed Contractor Checks

Q. Our company send 1099s are to our contractors and providers and I have a question as far as if… 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.

Form 1042 Filing Requirements for 501(c)(3) Organizations Without Reportable Payments

Q. For an organization that is a 501c3, that issued 1042S and 1042 in a prior year for foreign… Read More
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