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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.

Are Monthly Parking Payments Reportable on a 1099 Form?

Q. My company will make a payment to 1099 reportable vendor. The payment will be for monthly… 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 Final Payments for Deceased Employees on Form 1099-MISC

Q. I know the IRS has guidance here: https://www.irs.gov/pub/irs-pdf/i1099mec.pdf about 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 Requirements for Foreign Tax-Exempt Vendors: What You Need to Know

Q. A foreign vendor indicates they are a tax-exempt organization. Is this foreign vendor subject 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.

Including Promotional Product Value in 1099 Reporting: What You Need to Know

Q.  Here is an email from one of our agencies asking if the monetary value for the promotional… 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 Handle 1099 Reporting When an Attorney Refuses to Provide a W-9 for Garnishment Payments

Q. What do you do if an attorney (required 1099 situation) you pay for a Garnishment refuses 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.

Are ACH Payment Notifications Required for Employees and Vendors?

Q. ACH Notifications have been sent to employees and vendors after the payment has been made. We… 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 AR Teams Are Leveraging AI for Cash Application and Forecasting

Q. Our AR team has been challenged to think of ways to utilize and take advantage of AI.  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.

Gift Card Reporting Requirements for Research Participants

Q. If our university willingly gives out gift cards to research participants without obtaining TIN#… 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 Missed 1099 Filing Due to System Error

Q. I submitted our 1099s electronically through the IRS fire system in January. I have been… 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 Requirements for Government Agencies and Utility Companies

Q. Do we need to be obtaining a W9 from government agencies and utility companies. A. (Answered by… 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 Incorporated Presenters

Q. We are a State University. We have an attorney who is incorporated. They are not providing legal… 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 Vendor Fees on Form 1099

Q. If we charge a vendor a fee for processing an invoice, should we deduct that fee from their 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.

Using an SSN for Trusts on Form W-9: What You Need to Know

Q. We received a W9 from a vendor that has selected the Business Entity Type of Trust/Estate. On… 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.

Paying Employees for Side Business Services: Payroll or 1099?

Q. We have an employee at our college that also has a business with her social security number… 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 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
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