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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.

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
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 Assessment Results Considered a Gift or a Taxable Incentive for Employees?

Q. We have a department who is conducting an assessment and would like to provide the results 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.

In Today’s Economy, Which AR Performance Metrics Should You Track More Closely?

A. - (Answered by Lisa Lansaw CICP, Director, NAHC, Nidec Motor Corporation) In an increasingly… 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 Much Should You Allow for Meals in Your T&E Policy? Benchmarking Insights from Peers

Q. We are reviewing our T&E policy and want to know if we are allowing enough to cover meals when… 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 Structuring P2P Roles Between AP and Procurement

Q. We are considering a restructure within our Procurement department and our P2P team. We 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.

Can Unclaimed Property Payments Be Reissued via EFT Instead of Check?

Q. If we receive a response back from a due diligence letter that the person/company has determined… 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 or W-8ECI? Handling Software Payments to a Foreign Vendor with U.S. Presence

Q. We have a vendor in Australia who bills us for annual software licenses for use of their… Read More
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