Articles and Tax Tips

TAX TIP OF THE WEEK: The difference between an Accountable Plan and Non-Accountable Plan

If you are working in AP or Payroll do you know the difference between an accountable plan and non-accountable plan when it comes to reimbursing workers for fringe benefit payments? This week find out what you need to know.

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TAX TIP OF THE WEEK: Reimbursing Employees or Contractors For Entertainment Expenses? Watch Out For This Common Mistake

Reimbursing employees or contractors for business-related entertainment expenses is an acceptable practice. However, the rules are strict - with many exceptions that create W-2 or 1099 reportable situations. This week let's look at one.

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THIS MONTH'S FEATURED SUBSCRIBER ARTICLE: How to Identify a Chapter Three 1042-S Reportable Withholding Responsibility

Still confused as to what circumstances would cause your organization to become subject to U.S. 1042/1042-S reporting or withholding requirements? Here's a little primer to give you a hand.

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TAX TIP OF THE WEEK: 1098-T Updates Higher Education Needs to be Concerned About

A few years back the IRS substantially changed the Form 1098-T. Then they issued a safe harbor ruling that was repeatedly extended. However, how long will the extensions last and in the meantime - where should your compliance efforts focus?

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TAX TIP OF THE WEEK: IRS Releases New June 2017 Draft Form W-8IMY - Here's Our Instant Analysis

The IRS has just released a brand new June 2017 Draft Form W-8IMY. This follows on the heels of last fall's release of a new W-8IMY. This week let's look at what you need to know - including what this development means for your in-year W-8/1042-S compliance efforts.

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THIS MONTH'S FEATURED SUBSCRIBER ARTICLE: Partnership Withholding and the 1042-S

Partnerships and the effectively connected income of foreign (Non-Resident Alien) partners remains a sticky issue in terms of both W-8 compliance as well as 1042-S reporting. This month we'll provide some tips that will help you handle foreign partnerships with confidence.

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TAX TIP OF THE WEEK: Tips on Handling the New W-8EXP

As most of you hopefully know late last year the IRS released a new Form W-8EXP which you should be using as of April 1st of this year. This week let's take a look at the big changes accounts payable and tax need to take into consideration.

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TAX TIP OF THE WEEK: What's New With the 1042-S

This week let's take a look at the biggest new changes on the Form 1042-S and make sure that everybody is up to speed on what's recent for 2017.

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THIS MONTH'S FEATURED SUBSCRIBER ARTICLE: The Forms 1099-A and 1099-C

This month let's take a deeper dive into the Forms 1099-A and 1099-C. We will focus upon what you should watch out for in terms of in-year compliance and reporting related payments - tasks which are attracting renewed attention from IRS examiners.

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TAX TIP OF THE WEEK: Form 1099 Backup Withholding Versus 1042 NRA Withholding

Form 1099 backup withholding can be a confusing process. Throw in the need to withhold on payments of U.S. source income made to Non-Resident Alien (NRA) payees and things get crazier yet. This week let's examine the differences between these two withholding regimes.

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