Accounts Payable

W-9 / W-8

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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.

Best practice for foreign travel expenses

Q. If an employee is traveling to a foreign country and using a corporate credit card, is it… 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 reporting

Q. If a foreign vendor submits a W-8BEN along with a form 8233 to claim tax exemption status from… 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.

Attorney W-9 showing PC as the tax classification

Q. We received a W-9 from an attorney's office for work they did on our behalf for alcohol… 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.

EIN beginning with 99-

Q. I have a W-9 with an EIN number starting with 99-. I saw this as a red flag of a possible… 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 practice for disregarded entities

Q. Some of our suppliers note "disregarded entity" on their W-9 forms. I understood in your 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.

1099 reporting to a social club without a W-9

Q. My company received an invoice from the informal group (social club) which is not registered… 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.

Should a 1099 list both the owner's name and the business's name?

Q. We have a payment to a sole proprietor. The W-9 listed the owner's name and the business name.… 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 an entity have more than one tax ID?

Q. Is it possible for an entity to be assigned more than one Federal Tax ID? We have received 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.

Canadian contractor with both an SSN and a foreign tax ID

Q. We have a professional contractor how lives in Canada and provides phone consultations on 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.

Payment to a name without an EIN

Q. Can my company make check payable to a brand name? The brand name is not registered with the… Read More
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