Articles and Tax Tips

THIS MONTH'S FEATURED ARTICLE: Is a Freight Services Payment Made to a Non-Corporate Trucking Company 1099 Reportable?

When it comes to 1099-MISC reporting few issues are as problematic as whether or not to report a freight services payment.

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

TAX TIP OF THE WEEK: How Do I Break Down and 1099-MISC Report a Single Check Settlement Payable to Multiple Claimants?

It is not uncommon to have a situation where a single reportable settlement payment is made to multiple payees (let's say three related claimants a

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

TAX TIP OF THE WEEK: Does LLC Mean the Vendor Is A Non-1099 Reportable Corporation?

First the basics.

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

THIS MONTH'S FEATURED ARTICLE: Form 1099 Versus Form 1042-S Backup Withholding Basics

It is vitally important for accounts payable departments to understand the differences between Form 1099 backup withholding and Form 1042-S backup

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

TAX TIP OF THE WEEK: Parsing the 1099-MISC Box 3 Non Fixed and Determinable Settlement Reporting Exception

Settlement payments are typically Form 1099-MISC box 3 reportable to the claimant. However, there are exceptions to this general rule.

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

TAX TIP OF THE WEEK: How to Correct 1099's Reported for the Wrong Year

Unfortunately, it's not uncommon to face a situation where 1099 reporting was done for one year but in reality should have been done for another.

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

TAX TIP OF THE WEEK: Determining 1099-MISC Reporting between Punitive and Compensatory Damages in Personal Physical Injury Cases

Your organization gets sued, or a claim is brought against it for personal injury.

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

THIS MONTH'S FEATURED ARTICLE: Accounts Payable and The 1099/W-2 Reporting of Product Liability and Employment Related Legal Settlements

When someone sues or brings a cause of action against your organization there are many different 1099/W-2 reporting outcomes that can flow from tha

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

TAX TIP OF THE WEEK: Do You 1099 Report a Consultant's Travel Expenses?

Here's a typical scenario you may run across in accounts payable.

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

THIS MONTH'S FEATURED ARTICLE: Are Subscriptions and Dues Form 1099-MISC Reportable?

It's Form 1099 Filing season! You have questions, we have answers.

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