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December 2025: Are You Prepared for Year-End Reporting?
January 5, 2026
As AP teams close out 2025, year-end isn’t just about tying up loose ends, it’s about setting the stage for a smooth, compliant start to 2026. With 1099 reporting deadlines approaching, shifting IRS expectations, and new regulatory changes emerging, AP professionals are juggling intense deadlines and high-stakes tasks. Add in vendor clean-up, TIN verification, and filing readiness, and it becomes clear: the foundation for 2026 is built right now.
This month, we’re focusing on the essential year-end checklist every AP department should follow to wrap up 2025 confidently and prepare for a stronger, more efficient new year.
This Month’s Quick Take: Year-End & 1099 Readiness
- W-9 and vendor data cleanup is critical. Missing forms, incomplete vendor profiles, and outdated records lead to costly delays and corrections during filing season.
- TIN mismatches remain a top compliance issue. Early TIN verification reduces the risk of B-notices, penalties, and rejected filings.
- E-filing thresholds continue to evolve. AP teams should stay alert to IRS updates, including potential 2026 adjustments impacting consolidated reporting and file formats.
- Proactive planning pays off. Creating a step-by-step checklist and assigning responsibilities now is the most effective way to reduce errors, avoid re-work, and prevent last-minute compliance fire drills.
December Editorial Webinar: Finish 2025 Strong – 1099 Reporting, Compliance Essentials, and What’s Coming in 2026
As 2025 wraps up, make sure your 1099 and compliance processes are accurate and ready for expected IRS changes in 2026. Join IOFM and expert Jason Dinesen for a year-end webinar covering a full 1099 checklist, common pitfalls to avoid, key IRS updates, and steps to strengthen your compliance plan so you start the new year prepared and confident.
Year-End Is a Good Time to Scrub the VMF
An annual Vendor Master File “scrub” helps set your AP team up for a smooth, compliant new year — reducing payment errors, promoting regulatory compliance, and deterring fraud. By working through a structured cleanup process, you can streamline vendor data, eliminate duplicates, archive inactive accounts, and boost overall operational efficiency. Read on to learn 11 things you can do to clean up your VMF.
NetSuite 1099 Vendor Categorization and Year-End Reporting Best Practices
Are you struggling to properly set up and manage 1099 vendor records in NetSuite and ensure clean year-end reporting? This Ask the Expert article covers best practices for marking vendors as 1099-eligible, mapping GL accounts to 1099 categories (MISC, NEC, etc.), and avoiding common pitfalls that lead to missing or inaccurate 1099s. A must-read for AP teams closing out the year.
Tools & Insights from IOFM
Are You Ready for the AR Year-End Close?
With December upon us, it's time for AR professionals to begin the all-important year-end close. Taking the right preparatory steps now can go a long way toward helping to make this month less grueling and tension-filled—not to mention gaining the appreciation of your senior finance executives when AR's contribution to the company financial close is trouble free and on schedule.
Staying Compliant: Navigating New E-Filing Rules, FIRE System Updates, and 1099 Changes
Major regulatory updates are reshaping year-end reporting. Watch this on-demand webinar to learn the latest IRS e-filing requirements, changes to IRIS and the phase-out of FIRE, and the impact of the new One Big Beautiful Bill on Form 1099 reporting. Stay compliant and understand what’s changed for your process, in-house or via third party.
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