Expert Questions

Share

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 Death Benefits from Nonqualified Deferred Compensation Plans

Q. We made Executive Deferred Income Plan payments to the trust of a deceased employee. On which… 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.

Airfare Proration for International Travel Under an Accountable Plan

Q. I know Pub 463 speaks to International Travel Airfare Proration when combining personal and… 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-NEC vs. 1099-MISC for Employee Settlements

Q. We have an employee receiving a settlement where the nonwage portion needs to be reported on 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.

How Should You Report Honorariums and Stipends?

Q. It seems that stipends/honorariums can be on a 1099-NEC or 1099-Misc other. When 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.

Nursing Peer Review Consultants: 1099-NEC vs. 1099-MISC

Q. Would consultants doing nursing peer reviews be MS06 or NEC1? A.  (Answered by IOFM's… 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.

Military Relief Payments & the IRS General Welfare Exclusion

Q. I’m seeking guidance on the taxability and 1099 reporting of state-issued military relief… 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.

Board Trustee Payments: Should You Pay the Individual or Their LLC?

Q. I'm questioning payments to board members for trustee payments for members who sit on a fund… 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.

Does Combined Federal/State Filing Satisfy IRS Requirements for 1099-NEC Reporting?

Q. Does filing with Combined Federal/State Filing fulfill the same IRS requirements for 1099-NEC… 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-8BEN-E with Disregarded Entity: How to Set Up a Vendor Master Record in SAP

Q. I have a supplier that has provided me with a W-8BEN-E to create a new vendor master record… 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.

Wire Payment Policies: Fees, Thresholds, and Processing Procedures for Incoming Client Payments

Q. If you receive a client wire payment, do you charge clients' incoming payments a wire fee to… 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 Student Support Grants

Q. Our university is administering a grant from which payments are being made on behalf of 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.

How to Report Career Readiness Stipends: 1099 or W-2?

Q. We started a career readiness and job training program that pays stipends to community youth who… 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 Identify the Legal Name on a W-8 ECI With a Disregarded Entity

Q. We received a W8 ECI. The name listed on line 1 is a corporation in Switzerland with a US Tax ID… 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 Pass-Through Payments Require a 1099? What to Know After an Acquisition

Q. After an acquisition, cell tower lease payments were mistakenly remitted to us. We then… 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 Obligations for Foreign Speakers Presenting Virtually

Q. A department at our college is having an author who will do a connections reading via Zoom since… 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 Chapter 4 Status Code Goes in Form 1042-S Box 12c for a Tax-Exempt Withholding Agent?

Q. We are a U.S.-based 501(c) organization issuing Form 1042-S to non-U.S. vendors. Which Chapter 4… 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.

Are eSignatures Permitted on Form W-9?

Q. We have been requiring handwritten signatures on the W-9 per a IOFM W-9 training I attended 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.

Understanding the NACHA Payroll Entry Description Requirement for ACH Payments

Q. Is the new NACHA rule indicator of PAYROLL only applicable to 1099 non-employee compensation… 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.

Are Research Program Payments to Students Taxable and 1099 Reportable?

Q. We have a program where some of our enrolled students at our institution and some students from… 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.

Should You Void a 1099 When a Vendor Donates Their Payment?

Q. We have vendor that completed onboarding in their business name and tax id number. They… Read More
Find more...

Need Answers?

Ask An Expert ›

Ask Your Peers ›

Glossary ›

Join our mailing list

What are you waiting for?

1

Become a Member

2

Get Certified

3

Attend an Event

Subscribe to our Monthly Insider

You may unsubscribe from our mailing list at any time. Diversified Communications | Two Portland Square, Portland, ME 04101 | +1 207-842-5500

Accounts Payable & Procure-to-Pay ›

Accounts Receivable & Order-to-Cash ›

© 2026 Diversified Communications. All rights reserved.
Diversified Communications