Articles and Tax Tips

The IRS has rolled out a number of initiatives toward reducing fraud and protecting taxpayer data. To that end, IRS e-services users have just a few weeks until you will need to revalidate your information to continue to use such e-services as the IRS TIN Match program.

This week, let's look at an issue that often trips up filers when it comes to the taxation of Wellness Incentives/Member rewards. That being, should such payments be reported on Form W-2 or on a Form 1099?

Last week the IRS released new regulations regarding how the IRS will implement changes made late last year to the Individual Taxpayer Identification Number (ITIN) program. This week let's take a look at those changes, how they will be implemented, and what it means for Accounts Payable and Tax professionals.

In a stunning development the IRS is examining whether to increase mandatory E-filing by drastically lowering the threshold from the standard 250 Forms 1099-MISC in a given filing season. This week let's take examine what threshold the IRS is considering and what it could mean for your 1099 filing and compliance efforts.

More big changes in the law could be headed your way if you fail to file Form 1099's with the payee's correct name and TIN. That means you will need to be even more careful this upcoming filing season, as shown by the latest updates provided via this month's tax tip involving proposed penalty notice processing.

If you have glanced at the current poll you will see there is a raging debate about the nature of IRS requirements vis a vis the Form W-9 and the collection of the payee's name and TIN (tax payer identification number). This week let's take a deeper look at that issue and a new due diligence requirement that the IRS is currently mulling over.

Form 1099 compliance is a tricky game. Oftentimes winning that game comes down to knowing what the other side will do before they do it. To that end, this week examine some common issues IRS auditors focus upon when they examine your filed Forms 1099-MISC.

When your organization makes a payment of U.S. sourced income to a Non-Resident Alien (NRA) you likely have an NRA reporting or withholding responsibility. Fail to meet that responsibility and you can come under audit. Let's look at what your audit response should focus upon.