Articles and Tax Tips

TAX TIP OF THE WEEK: The W-9, Business Rentals, Middlemen, and The 1099-MISC

Simply put, it's not at all uncommon in Accounts Payable to have situations where the check goes to one entity.

[Full text available to TIR Answer Center subscribers. Subscribe to read full article.]

THIS MONTH'S SUBSCRIBER ARTICLE: IRS Makes Huge Changes to 1099/1042-S Filing/Corrections Processing

On July 23, 2021 the IRS announced that there are big 1099 filing changes coming.

[Full text available to TIR Answer Center subscribers. Subscribe to read full article.]

TAX TIP OF THE WEEK: What To Do When A 1099 Reportable Attorney Misreads the Law and Refuses to Provide Their TIN

This is a common situation made worse when the attorney in question not only fails to provide their TIN, but does so under a misreading of the law.

[Full text available to TIR Answer Center subscribers. Subscribe to read full article.]

TAX TIP OF THE WEEK: What You Must Do If The Only Name Provided On A Vendor's W-9 Is A Disregarded Entity

Getting 1099 reportable vendors to properly complete the Form W-9 can be a time-consuming and difficult process.

[Full text available to TIR Answer Center subscribers. Subscribe to read full article.]

THIS MONTH'S SUBSCRIBER ARTICLE: The Non-Bank's Form 1099-K Due Diligence Requirements

We get quite a few questions from non-banking organizations receiving Forms 1099-K that revolve around due diligence requir

[Full text available to TIR Answer Center subscribers. Subscribe to read full article.]

TAX TIP OF THE WEEK: A Look at Recent Sales and Use Changes - Part Two

Here's part two of the Sales and Use round up covering major 2021 changes so far in the 50 U.S. states.

[Full text available to TIR Answer Center subscribers. Subscribe to read full article.]

TAX TIP OF THE WEEK: A Look at Recent Sales and Use Changes - Part One

It's time for a Sales and Use round up! The 50 U.S. states have again been busy in 2021.

[Full text available to TIR Answer Center subscribers. Subscribe to read full article.]

THIS MONTH'S SUBSCRIBER ARTICLE: How to Identify When De Minimis Fringe Benefits Are Reportable

Let's take a look at when a fringe benefit is de minimis and qualifies for a reporting exclusion versus when it does not qualify and is W-2/1099 re

[Full text available to TIR Answer Center subscribers. Subscribe to read full article.]

TAX TIP OF THE WEEK: How The 1099-MISC Box One's Property Management Exception Works

The IRS defines receiving rental income as conducting the trade or business of renting out property, subject to Form 1099 reporting requirements.

[Full text available to TIR Answer Center subscribers. Subscribe to read full article.]

THIS MONTH'S SUBSCRIBER ARTICLE: Things to Know About The Infamous 1042-S Portfolio Interest Exemption

Interest payments definitely are a part of the W-8 documentation and 1042-S reporting regime.

[Full text available to TIR Answer Center subscribers. Subscribe to read full article.]