Articles and Tax Tips

TAX TIP OF THE WEEK: Make Sure to Validate Your ITIN Payees This Fall: Many ITIN's Are Expiring by Year-End

If you have payees who possess ITIN's instead of social security numbers then please be careful, as many ITIN's are expiring in 2017. This week let's look at what you need to know prior to filing forms W-2/1099/1042-S early next year.

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THIS MONTH'S FEATURED SUBSCRIBER ARTICLE: IRS Releases New Draft Form W-9

For the first time since December of 2014 we are now looking at an impending new Form W-9. This development was presaged by the July 24th release of a brand new Draft Form W-9 (dated November 2017). This month let's take a look at the two biggest changes on the new W-9.

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TAX TIP OF THE WEEK: What Qualifies as a W-2/1099 Reportable Fringe Benefit

This week let's examine what types of payments qualify as W-2/1099 reportable fringe benefits and how your Payroll or Accounts Payable department should break down what gets reported.

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THIS MONTH'S FEATURED SUBSCRIBER ARTICLE: Which W-9 Box Should a Single-Member LLC Payee Check?

Validating Forms W-9 is never a dull experience, especially when it comes to LLC's and the W-9's two very different LLC specific boxes. This month let's examine exactly which box should be checked on a W-9 received from your Single-Member LLC payees.

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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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