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Compliance
The IOFM keeps members up to date on best practices for identifying and mitigating regulatory risks related to: 1099/1042s, W-9/W-8, Unclaimed Property, OFAC, Sales & Use Tax, Value Added Tax. The Institute shares peer-tested policies and procedures and supports AP practitioners in their role as the last line of defense against fraud and abuse.
IOFM Members also have asscess to 12 Live Compliance Webinars annually, helping avoid costly delays and fines.
Featured Content
Are You Being Audited by the IRS?
As we approach 1099 season, it's crucial to have a risk mitigation and communication plan in place to deal with an eventual audit. Learn the five things AP departments need to have nailed down — and the six things the IRS will ask for — if it initiates an audit.
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As federal regulations governing 1099 reporting continue to evolve, you can often expect to see corresponding changes in direct state reporting
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It’s the law to track and report abandoned property to the states. Make sure you have all the information you need to file successfully and
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Typically, issued by payment settlement entities, Form 1099-K is used to report payments made in settlement of reportable payment transactions, such
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