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.

1099 for a returned security deposit?

Q. We are returning a security deposit we received from a lessee. Do we need to issue a 1099 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.

1099 reporting of medical services

Q. The company that I will be processing 1099's for is a diagnostic laboratory. Please help me to… Read More

IRIS TCC code

Q. I've applied for an IRIS TCC code to file 1099s. Do I also have to file an application 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.

Vendor change from a corporation to an LLC

Q. My company received an invoice from a vendor which recently changed tax status from INC to LLC;… 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 baseball game ticket purchase

Q. For an alumni event we hosted, we purchased 50 tickets from the New York Yankees that included… 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.

TIN matching and CP2011A notices

Q. 1. For TIN/name mismatch notices (CP2100A), is the list on that notice what the IRS has on file… 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.

Rent payments to vendor identified as REMIC on the W-9

Q. We will be paying rent to a vendor that has selected the 'Other' box on the W-9 and listed… 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 trip expenses for retired employees

Q. My company owners took six retired employees on a trip to the Caribbean. I have to issue 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.

Invoices by out of state vendor for equipment upkeep

Q. We are in California and are being billed by out of state vendor for their IT services agreement… 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 reporting for foreign vendors performing work outside the U.S.

Q. I am seeing conflicting information online and need clarification. Are U.S. companies required… Read More
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