Articles and Tax Tips

Though the IRS seems to be working hard at making this year's filing season a difficult one, for some accounts payable and tax professional a break has been granted. This week let's look at recent changes made to Form 1098-T related payments and filing.

The Affordable Care Act requires applicable large employers (ALE's) to file information returns with the IRS and employees. Here are some tips to make sure you have a smooth filing season when it comes to the new Forms 1094 and 1095-C.

This is important. Too many accounts payable and tax people that I speak with are still confused about when you must update the Forms W-8BEN they have on file and when they don't (particularly given all the updates in the law due to FATCA). This week let's take a look at what you need to do.

Alabama has joined the slew of other states recently updating or expanding their tax framework to ensnare out of state businesses. As such accounts payable departments need to watch out. You now have a new tax and reporting requirement for sales and use tax related payments involving revenue generated within or connected to the state of Alabama.

As filing season approaches we want to make sure you are ready. As such, this week let’s look at some special issues you need to be aware of when it comes to validating and reporting payments associated with the Form1099-INT.

With the rollout of the Foreign Account Tax Compliance Act (FATCA) we have been seeing several compliance problems cropping up in regards to both the Forms W-8 and W-9. This week let's look at one such W-9 related problem, and what you should do about it.

Definitions matter. When the IRS classifies you as a withholding agent you have compliance, due diligence, reporting, and withholding responsibilities that your Accounts Payable department must be ready to execute at the highest level of competency - particularly when a payment of U.S. sourced income is made to a Non-Resident Alien payee.