Articles and Tax Tips

TAX TIP OF THE WEEK: 2023 Form 1099-NEC Update for Select States

It's that time of the year again.

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Earlier this year the IRS issued a slew of changes to Form 1099 and Form 1042/1042-S reporting rules.

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What happens if a settlement payment is for a loss? Is that still 1099-MISC Box 3 reportable?

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As part of your fall 1099 year-end prep you are validating your vendors and discover a Form W-9 where "other" was selected and the contractor wrote

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September 15th is the extended filing deadline for filing the Form 1042.

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We have a new 1099 being rolled out! Needless to say, as new types of payments arise the IRS has to respond.

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This fall your organization is more likely than ever to receive an IRS B-Notice.

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Big changes are afoot. Late in June the IRS rolled out a new draft Form W-8EXP. There will be more W-8 changes to come.

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You receive a W-8BEN-E from a vendor. Invariably the treaty claim being made is poorly documented and confusing at best.

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An IRS B-Notice (IRS Notice CP-2100 or CP-2100A) list is a notification from the IRS informing you that you filed Forms 109

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