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03.12.10 Test Your AP IQ: Independent Contractor Form
What is the government form that workers can use to ask the Internal Revenue Service to determine whether they are employees or independent contractors? more...
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03.08.10 1099 Red Flag Sparks Trouble
Bad news for a company that paid for a nanny to look after the company owner’s children. The company treated her as an independent contractor and sent her a Form 1099-MISC. The company heard from the IRS about this.
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03.01.10 “Less Mercy” by IRS in New Audits
The Internal Revenue Service will be particularly aggressive during the 6,000 surprise audits that will target Form 1099 independent contractors that should really be classified as employees, employee fringe benefits, employee reimbursements, and executive pay. Audit notices have already started to go out to employers of all shapes and sizes—with a particular emphasis on small companies.
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02.26.10 Test Your AP IQ: Strange TIN
On a W-9, you see a 9-digit Taxpayer Identification Number (TIN) that begins with the letter “P.” What does this signify? more...
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02.08.10 IRS Audits Start Feb. 16
The Internal Revenue Service will finish training examiners during the week of Feb. 8 in preparation for a Feb. 16 start to a three-year audit program concerning Form 1099 independent contractors that should really be classified as employees, employee fringe benefits and executive pay. The audit program will target 6,000 companies at random and will last over three years.
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02.05.10 Test Your AP IQ: EIN Red Flag
If you see a vendor EIN that begins with “98,” what does that probably mean? more...
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02.01.10 More Time for Some 1099 Reporting
The Internal Revenue Service is providing an extra day this month for providing annual tax reporting statements on broker and barter exchange transactions, real estate transactions, and certain miscellaneous income. The IRS said it is extending the deadline from Feb. 15 to Feb. 16 for these reporting statements because Feb. 15 is a national holiday. more...
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01.25.10 IRS to Audit 500 Nonprofits
As part of its new crackdown on employment taxes, the Internal Revenue Service will examine 500 tax-exempt organizations this year. Agents will be especially looking for Form 1099 independent contractors that should really be classified as employees. The penalty for this is big back tax bills and stiff fines. Plus, IRS agents will look for violations in the tax rules for fringe benefits and executive pay. more...
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01.22.10 Test Your AP IQ: Military Payments
If you made military differential payments in 2009 to employees who left their jobs to go on active military duty, where do these amounts get reported on the Form 1099-MISC? more...
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01.04.10 Year-End Form 1099 Tips
Here are a few tips to help make your year-end easier with respect to Form 1099 filing.
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12.28.09 Company Wins Sec. 530 Relief
If you change contract terms with independent contractors, it doesn’t necessarily void an agreement you made with the Internal Revenue Service over treating them as 1099 workers.
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12.07.09 Reminder on Military Differential
The Internal Revenue Service has cautioned that, effective for wage payments made after Dec. 31, 2008, all military differential pay should be reported only on Form W-2, not the Form 1099-MISC. Military differential pay is the amount employers pay to their employees who leave their jobs to go on active military duty. more...
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12.04.09 Test Your AP IQ: Form 1099 News Quiz
The Internal Revenue Service recently announced that for 2009 Form 1099 reporting, you can do what?
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11.30.09 IRS OKs Truncated Payee IDs
The Internal Revenue Service has launched a pilot program allowing filers of information returns to use a shortened version of an individual's Social Security number or IRS individual taxpayer identification number on paper payee statements, subject to certain qualifying criteria.
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11.26.09 Test Your AP IQ: Payees Exempt From 1099s
There are three most common, "standard" types of payees that are exempt from Form 1099 reporting. Which of the following payee types is not one of the three? more...
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11.23.09 Brand New Form 1099-K
The Internal Revenue Service, in conjunction with the release of proposed regulations (REG-139255-08), posted to its website a draft Form 1099-K, Merchant Card and Third-Party Payments, according to news release IR-2009-106.
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11.18.09 IRPAC Urges TIN Guidance
The Internal Revenue Service needs to provide more guidance to payees to help alleviate the problem of missing or incorrect Taxpayer Identification Numbers (TINs), according to a report from the Information Reporting Program Advisory Committee (IRPAC). more...
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11.02.09 Surprise IRS Audits on Tap
Starting this February, 6,000 random companies will start receiving notices that they will be audited by the Internal Revenue Service over employment taxes. Agents will be especially looking for Form 1099 independent contractors that should really be classified as employees. more...
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10.26.09 Watchdog Barks About 1099ers
In a new report to Congress, the Government Accountability Office recommends a number of steps to take to increase the detection and prevention of employers misclassifying employees as Form 1099 independent contractors.
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10.23.09 Test Your AP IQ: Expense Reports and 1099s
A company requires employees to use their personal credit cards for business expenses and then file an expense report for reimbursement. If an employee pays a 1099-reportable vendor and the company reimburses the employee, what is the company’s Form 1099 reporting requirement for this transaction (assuming the amount is over the $600 reporting threshold)?
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10.13.09 More AP Depts. Use IRS TIN Matching
Use of the IRS TIN Matching Program is increasing—45 percent of AP departments we surveyed say they now use it, up from 29 percent two years ago. This is according to preliminary results of IOMA’s AP Department Benchmarks & Analysis 2010.
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09.15.09 FULL AP EXPO PROGRAM AVAILABLE
Schedules and descriptions of over 30 sessions and workshops—including many on AP automation--are now available for our upcoming 8th Annual AP Conference & Expo October 14-16 at the Loews Royal Pacific at Universal Orlando. more...
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09.14.09 Form W-9 from Tax-Exempts
Although you are not required to do Form 1099 reporting for payments you make to tax-exempt organizations, a best practice is to get a W-9 form from them just the same. Here's why. more...
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09.04.09 Test Your AP IQ: Forms W-9 and W-8
When soliciting Forms W-9 and W-8, can payees submit copies, or must they be originals?
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08.24.09 Form 1099 Tasks to Start Right Now
Filing Form 1099 can be your biggest headache at year-end. If you make any mistake in complying with the complicated rules and deadlines, you could trigger big problems with the Internal Revenue Service. So now’s the time to start preparing to file those pesky forms. Here are five things you can do starting now to get the 1099 ball rolling in the right direction.
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08.10.09 Reporting Special Payments
The Internal Revenue Service has put out a helpful document that clarifies its position on the taxability and reporting of special payments, such as settlements, awards, and attorney’s fees that stem from employment-related judgments. Some of this information overlaps with payroll as there is W-2 reporting as well as Form 1099 reporting involved. Some of the payments discussed deal with back pay and front pay. more...
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07.31.09 Test Your AP IQ: Form W-9 Red Flag
What should you do if you get a Form W-9 with a vendor EIN that begins with “98?” more...
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07.27.09 No 1099s for Volunteer Mileage
Charitable organizations can reimburse volunteers who use their personal cars when performing their good works can either reimburse actual costs or use a standard mileage rate. When charities reimburse actual costs, they do not have to issue a Form 1099, according to the Internal Revenue Service. more...
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07.20.09 Updated Specs for e-Filing 1099s
The Internal Revenue Service has updated the specifications for electronically filing various forms, including Form 1099.
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07.17.09 Test Your AP IQ: 1099s and P-Cards
Which of the following is NOT a good way to help ensure compliance with the Form 1099 reporting rules for purchasing card transactions?
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