1099 / 1042-S / W-9 / W-8

Here's a quick reference of 1098 and 1099 filing dates due in 2018 for tax year 2017. You may also download the Excel spreadsheet here.

Filing Deadlines

2018 1099 filing dates for 2017

Assistance provided by Cokala Tax Information Reporting Solutions, LLC.

Penalties for Late Filing

2018 penalties for late 1099 filing

Source: Circulus, Sandy Champion

Click here to download the full PowerPoint file of 2017 1099 updates fromRead More

Any corporation, partnership, employer, estate and/or trust that is required to file 250 (or more) 1097, 1098, 1099, 3921, 3922, 5498, and W-2G forms must file electronically via the FIRE (“Filing Information Returns Electronically”) website. Filers that have less than 250 of these information returns are encouraged to file electronically as well.

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The purpose of this updated publication is to provide the specifications for e-filing

  Income paid in the calendar year other than wages, tips and salaries must be reported to the IRS on Forms 1099 and 1042-S. The following links lead to information and tools related to 1099-MISC and 1042-S reporting available to members of the Accounts Payable & Procure-to-Pay Network. Definitions and Explanations Basics Form 1099-Misc Filing Basics… Read More

Cokala Tax Group reports that a number of states, including Delaware, have issued unclear or conflicting instructions for providing reconciliation reports for W-2 and 1099 withholding. With the changes to the federal filing deadline, which now requires 1099 forms reporting non-employee compensation in box 7 to be filed with the IRS by January 31… Read More

As 2016 comes to a close, it’s a good idea for AP professionals to review the upcoming changes to IRS reporting forms 1099-MISC and 1042-S. Here is an overview of some of the key points to keep in mind: 1099-MISC box 7 Form 1099-MISC reporting amounts as non-employee compensation (NEC), reported in Box 7,… Read More

In response to significant hacks on the IRS between 2014 and 2016, resulting in the identity theft of hundreds of thousands of taxpayers, the agency discontinued issuing e-filer PINs in mid-2016, either online or by phone. Some of the stolen credentials had been used to file fraudulent tax returns. To improve security, the IRS… Read More

There are several changes concerning information reporting Forms 1099-MISC and 1042-S that AP professionals need to understand as they look toward the 2016 and 2017 filing seasons.

The AP & P2P Network interviewed Mary Kallewaard, Principal, COKALA Tax Information Reporting Services, LLC, to find out exactly what accounts payable pros need to know. Kallewaard reports the following:

The tax code requires a new filing date for information… Read More

The IRS has issued a revision of Form W-8EXP, Certificate of Foreign Government or Other Foreign Organization for United States Tax Withholding and Reporting, with a date of September 2016; the previous version was dated April 2014. According to U.S. Treasury regulations, once a new version of a form is issued, a withholding agent… Read More

If you filed an information return late, with the wrong TIN or none at all, you might receive a 972CG Penalty notice from the Internal Revenue Service. Recipients of a penalty notice have 45 days to respond and either pay the penalty or write an explanation as to why the penalty should be abated.… Read More

The IRS has released a redesigned Form 1042-T in draft form, along with revised and expanded instructions. It is important for AP professionals to be aware of these upcoming changes so they can ensure that their companies are in compliance with Form 1042-T provisions and avoid penalties for improper reporting of payments to foreign… Read More

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