Accounts Payable

1099 / 1042-S

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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.

Updating IRS transmitter control code information

Q. How do we update our organization's 1099 filing authority in the FIRE and IRIS systems? 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.

1099 reporting of stipends paid to teachers

Q. We are a university that pays teachers from local public schools stipends to mentor 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.

Disregarded entity 1099 filings

Q. Typically, when we file 1099's we file by PAYER's taxable entity (line 1 of W-9). We have… 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.

Method of filing a corrected 1099

Q. We originally submitted our 1099 file through the FIRE system for 2023. If you need to submit… 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 legal fees to both attorney and claimant

Q. We sometimes have settlement agreements where we are directed to reimburse a claimant's 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.

Norwegian vendor claiming Limitation of Benefits status on W-8

Q. Our institution is working to remit a payment to a foreign vendor that is organized in Norway.… 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.

Foreign vendor submitting a W-9 and claiming withholding exemption

Q. We have a new vendor who is providing "rights/streaming performance services" for our tribal… 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.

LLCs filing as C- or S-corporations

Q. Do I need to issue 1099s to my vendors that are LLCs but file as C- or S-corps? 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.

What providers are AP departments using for 1099 filing services?

Q. I would like to ask other AP departments from various companies on what system they used 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.

Is the hauling away of medical waste considered a medical service?

Q. Does a vendor who hauls away medical waste from a medical site considered medical service for… Read More
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