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"Denise Johnson is fantastic. Her knowledge of the Information Reporting regulations is unparalleled. Her ability to interpret and explain them in laymen’s terms so they are understandable is a valuable asset."

Lori Proctor
Information Reporting
Accounting Specialist

Mutual of Enumclaw
Insurance Company

A Sample of Tax Questions Recently Added to Our Subscriber Only Database

So that our non-subscribers can get a better flavor of the types of questions we answer for our current subscribers please see below for a listing of questions which we have answered, and that have recently been added to our Tax FAQ Database.

Question #1

UPCOMING SPEAKING ENGAGEMENT: Convey Compliance C2 Summit in Dallas, Texas

Our very own Steven Mercatante Esq. will be a featured speaker for Convey Compliance's C2 Summit scheduled Sunday, September 23, 2012 - Tuesday, September 25, 2012 in Dallas, Texas.

Curious About Our Services? Here is a Free Webinar on 2011 Changes in the Law!

We continue to get quite a bit of questions about the tax compliance guidance we offer at TIR. As such we thought we would give you a flavor for how we approach helping our clients - in this case by providing you with a free webinar from last spring on regulatory and compliance changes that were made in 2010-2011.

TAX TIP OF THE WEEK: Vendor Who Passed Away and Invoices Yet to be Paid - What to do?

Regrettably the reporting situation presented by an untimely death is all too common. Are you prepared when this happens? If not, you need to be as there are vital differences between handling payments made involving this vendor and/or the possible entities that represent the deceased after their passing.

[Full text available to TIR Answer Center subscribers only. Click here for subscription information.]

Why This Summer is the Time to Review Your Organization's Use of Interns

As we have reported previously, more and more former unpaid interns are filing lawsuits against employers for being forced to work as a full time employee without being compensated for work performed; thus violating federal and state wage, hour, and tax laws regarding the proper classification of interns vs. workers.

GAO Pushing for Increased Enforcement Measures Directed Against Issuers of 1099's

In April leading regulatory officials testified before Congress regarding an increased focus on measures to close the estimated net $385 billion tax gap (the actual tax gap as of 2006 has been estimated at $450 billion - with enforcement measures recovering $65 billion).

TAX TIP OF THE WEEK: Reporting a Vendor Service Provider Also Issued Advance on Equipment Purchase

How to handle a vendor that provides 1099 reportable services, but to whom you have also issued an advance on an equipment purchase can be a tricky issue that needs to be handled with care...
 

[Full text available to TIR Answer Center subscribers only. Click here for subscription information.]

THIS MONTH'S FEATURED SUBSCRIBER ARTICLE: Key Reminders and Tips on IRS B-Notice Processing

To ensure third party reporters are doing their part in making sure that their payees are accurately reporting taxes owed to the Federal Government the IRS has created a number of programs, including the focus of this article: the “B-Notice Program”.
 

[Full text available to TIR Answer Center subscribers only. Click here for subscription information.]

Do You Qualify for the New Kentucky State Tax Amnesty Program?

Kentucky's Department of Revenue (DOR) is instituting a tax amnesty program running from July 1, 2012 to June 30, 2013. The program will cover tax liabilities incurred during the time period December 1, 2001 to October 1, 2011.

TAX TIP OF THE WEEK: Help! I forgot to Report a Payment

If you have encountered such a situation do not worry. This is actually a relatively common occurrence. That said, you will need to address this problem, but your response will be dependent upon if you file on paper or electronically. 

[Full text available to TIR Answer Center subscribers only. Click here for subscription information.]