Articles and Tax Tips

THIS MONTH'S FEATURED ARTICLE: B-Notice Processing Tips for 2018

The fall B-Notice (CP2100) processing season is upon us!

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

TAX TIP OF THE WEEK: Big 2018 Changes to Section 1031 Exchanges and Form 8824 Reporting

Section 1031 has been radically revamped by last December's Tax Cuts and Jobs Act.

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

THIS MONTH'S FEATURED ARTICLE: New Proposed Penalty Notice Abatement Tips for 2018

It's August. That means its proposed penalty notice season (IRS Form 972-CG).

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

TAX TIP OF THE WEEK: Reporting on the Form 5498 When The Policy Owner Dies Mid-Year

The Form 5498 can be as tricky as any other information return.

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

TAX TIP OF THE WEEK: Form 1099-K Basics for the Non-Bank AP Department

This week let's look at the Form 1099-K and payment card transactions from the accounts payable perspective of a non-bank.

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

THIS MONTH'S FEATURED ARTICLE: If You Are A Non-Profit Watch Out As The New Tax Law Created Additional Compliance and Reporting Duties in 2018

The new tax law is requiring many churches, hospitals, universities, and other historically tax-exempt organizations to pay a 21 percent tax on cer

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

TAX TIP OF THE WEEK: Supreme Court Expands Nexus to Include Collecting and Reporting Sales Tax Even If You Have No Physical In-State Presence

Last week the U.S.

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

TAX TIP OF THE WEEK: How Using the Form W-9 Can Save Time In Your Accounts Payable Department

The IRS Form W-9 has a number of benefits to those accounts payable departments that use it to document their payees. Among those are the great time savings offered by use of the form and as discussed in this week's tip.

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

THIS MONTH'S FEATURED ARTICLE: What AP Needs to Know About The New Tax Exempt Organization Search Tool

Last month the IRS released a new Tax Exempt Organization Search Tool to replace the Select Check program you use to validate such payees as part of your 1099 due diligence tasks. Let's look at what Accounts Payable needs to know to meet the new IRS 1099 compliance requirements.

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

TAX TIP OF THE WEEK: Red Flags Your 1099 Reportable Entity Payee May Have a New EIN Requiring You to Update The W-9 You Have on File

With a new W-9 out AP departments often ask: must I update my payee's information? You do, if TIN related information has changed. Let's look at EIN red flags requiring a response under IRS due diligence rules.

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