Start preparing now for the recent changes in Form 1042/1042-S related reporting you face early next year. Our new Form 1042/1042-S Year-End Reporting Online Seminar will help you report with confidence payments made to Non-U.S Persons in 2016!
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The IRS has rolled out a number of initiatives toward reducing fraud and protecting taxpayer data. To that end, IRS e-services users have just a few weeks until you will need to revalidate your information to continue to use such e-services as the IRS TIN Match program.
This week, let's look at an issue that often trips up filers when it comes to the taxation of Wellness Incentives/Member rewards. That being, should such payments be reported on Form W-2 or on a Form 1099?
Under the Affordable Care Act (ACA) most employers must file Form 1095-C, and Form 1094-C, with the IRS annually. This is a brand new reporting requirement following implementation of related ACA rules. However, with reporting comes complications. This month let's learn how to correct these new returns.
Start preparing for 2017 year-end reporting this fall. When it comes time to get 1099 statements to your payees and report returns to the IRS you want to know your organization can handle the task; The Form 1099 Year-End Reporting Online Seminar will help you do exactly that!
Last week the IRS released new regulations regarding how the IRS will implement changes made late last year to the Individual Taxpayer Identification Number (ITIN) program. This week let's take a look at those changes, how they will be implemented, and what it means for Accounts Payable and Tax professionals.
TAX TIP OF THE WEEK: IRS Considering Increased Form 1099-MISC E-Filing Via Lowering Filing Threshholds
In a stunning development the IRS is examining whether to increase mandatory E-filing by drastically lowering the threshold from the standard 250 Forms 1099-MISC in a given filing season. This week let's take examine what threshold the IRS is considering and what it could mean for your 1099 filing and compliance efforts.
THIS MONTH'S FEATURED SUBSCRIBER ARTICLE: The IRS is Examining Issuing Automatic Penalty Notices for 1099's Filed With Missing or Incorrect TIN's
More big changes in the law could be headed your way if you fail to file Form 1099's with the payee's correct name and TIN. That means you will need to be even more careful this upcoming filing season, as shown by the latest updates provided via this month's tax tip involving proposed penalty notice processing.
TAX TIP OF THE WEEK: The IRS is Considering Requiring AP Departments Collect Certified TIN's From Payees
If you have glanced at the current poll you will see there is a raging debate about the nature of IRS requirements vis a vis the Form W-9 and the collection of the payee's name and TIN (tax payer identification number). This week let's take a deeper look at that issue and a new due diligence requirement that the IRS is currently mulling over.
The Form W-8BEN-E has been revised. This new April 2016 version contains important changes that you must incorporate into your compliance efforts given you must cease usage of the 2014 W-8BEN-E by this upcoming October. This month, let's take a look at the new form and what you need to know.