Articles and Tax Tips
This month's article focuses on an issue that recently came to my attention when speaking at IAPP's Fusion 2011 Conference in May - one that has crucial importance to AP departments and their staffs all across the country.
Our very own Steven Mercatante Esq. is quoted extensively in a featured article from the March-April 2011 Issue of Financial Matters regarding the reasons and means by which governing bodies around the world, especially U.S. federal and state governments, are ratcheting up their focus on noncompliance and tax evasion all at once. Make sure you take the time to see what leading industry insiders are saying about today's regulatory landscape!
International Accounts Payable Professionals (IAPP) has invited TIR's own Steven Mercatante Esq. to speak at Fusion 2011 held this year in Orlando, Florida from May 8-12th. Reserve your spot today!
Are you still filing your 1099s on paper forms? We hope not. Filing returns on paper forms takes more time and produces greater errors. When filing paper forms, there is a risk that the scanner will not properly read the information included on the return, as wll as a higher risk for payer errors when transferring data by hand. As opposed to paper filing, filing electronically through the FIRE system has many advantages...
It is now critical that you properly report to individual US states but knowing in which states you have reporting requirements and effectively reporting is easier said than done. This article will introduce you to the basics of state reporting....
On August 16, 2010 the IRS issued guidelines regarding the mandatory information reporting of payments made to merchants by third parties and information reporting penalties and backup withholding rules for third party and payment card transactions. In addition, the IRS has also released a draft of a new information reporting form, Draft Form 1099-K; a form that has a couple of key items worth reviewing by information reporters. In particular...