Articles and Tax Tips

The IRS has raised penalty rates yet again in 2017. Penalty rates are up for those organizations failing to timely provide a payee with their statement and/or file a correct information return including involving Forms 1099/1042-S. Here is what you need to know.

Here is a real world situation involving a U.S. company that purchased an app created by a company in Canada for use in the United States. Let's see if you can figure out whether that payment is 1042-S reportable - don't worry, we will help you find the answer.

You filed a Form 1099-MISC for a vendor, but the payee statement is returned as undeliverable. This week let's look at what you should do in this all-too common situation.

Disregarded entities cause all kinds of problems for 1099 filers, but those problems are magnified when you throw the 1042-S into the mix. Here's what you need to know when dealing with foreign owned U.S. disregarded entities.

Please be careful. On February 1, 2017 the IRS issued new guidance for filers of the Form 1042-S in regards to payments of U.S. sourced income made to Non-Resident Aliens (NRA's). Here is what you need to know:

We just want to remind you about important W-2 information reporting changes that impact the current filing season. Please read on for what you need to know.

Last week we provided one tip for handling the new IRS update that makes it more likely you will be penalized for minor Form 1099 errors. This week, we provide an additional tip for penalty free filing under these recent changes in the law.