By Steven D. Mercatante Esq.
 
Risk is inherent in doing business therefore, the need to minimize risk is essential to maximizing organizational goals. If you fail to meet regulatory standards then you are setting up your organization for unnecessary exposure to risks. What kind of basic risks are we talking about? The following article will examine some of the more common information reporting risks you can run across as well as how you can make the changes needed to protect your organization.
 
Information Reporting Risk Basics
 
Form 1099 compliance is part and parcel of IRS compliance efforts, including the audit process. Auditors/examiners look at more than the Forms 1099 filed; they look at every payment made. Their goal is simple, to find those payments that should have been reported but were not.
 
What you need to know is that...