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IRS: Form 1099-K Reporting Threshold Change Delayed Again
The IRS recently announced a delay of the new $600 Form 1099-K reporting threshold for third-party settlement organizations (TPSOs) for calendar year 2023. Instead, 2023
Category: 1099
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Why You Need to Pay Attention to Form 1042 Changes Right Now
If in reading this blog you are realizing for the first time that the IRS made changes to the reporting requirements for Form 1042 by
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How to Evaluate Your Provider’s Electronic 1042 Filing Readiness
With the IRS changing the filing requirements for Form 1042 to be electronic, businesses must ensure that they are working with a provider that is
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They’re Here…Tax Reporting Season Updates
During our recent “Spooky Season Tax Updates” webinar, we discussed the most important changes that will affect filers in the upcoming tax reporting season. From
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What You Need to Know about the IRIS System for 2023 Reporting
Another tax information reporting season is approaching quickly. As businesses begin the process of filing information with the IRS, there are some important updates that
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Why Conduct a Pilot Season for Tax Information Reporting?
Another tax information reporting season is just around the corner and now is the time to start preparing your teams handling forms such as Series
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4 Things to Know About Transmitter Control Code (TCC) Requirements
Organizations that access IRS systems to file information returns, including Form 1099, Affordable Care Act returns and more, need to understand how technological updates could
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Sovos 1099, Unclaimed Property Reporting Build Efficient AP Depts
In today’s complicated world of tax compliance, it can be nearly impossible for teams to keep up with their 1099 and unclaimed property reporting obligations.
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Tax Information Reporting: The Basics of 1099
All types of businesses are subject to reporting earnings on the 1099 form series. Reporting 1099s can be a complex process, especially when you must
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5 Questions to Ask When Outsourcing 1099 Reporting
Outsourcing your 1099 reporting can be a big change for your business and there are many aspects to consider before choosing a partner to aid
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4 Ways to Elevate Your Direct State Reporting Process
Direct state reporting obligations have gotten increasingly difficult for some businesses over the past few years. With more states requiring direct reporting of form series
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Proposed W-9 Update Expands Backup Withholding Requirements
For the third year in a row, the U.S. Department of the Treasury’s annual General Explanations of the Administration’s FY2024 Revenue Proposals (Greenbook) includes a
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Key State Reporting Changes and Trends from Tax Year 2022
This blog was updated on November 28, 2023 Businesses of all sizes must properly determine what tax information to report, where to report it, how
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How Updated Technology Impacts State Tax Information Reporting
Largely fueled by necessity during the COVID-19 pandemic, Federal and state governments throughout the U.S. have updated their tax withholding and information reporting processes. With
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Important Verifications Beyond TIN Matching for 1099 Reporting
If you have been reporting 1099s for a while, you know that Tax Identification Number (TIN) matching is essential to ensure you don’t receive notices
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What Causes – and Stops – State Tax Deficits?
This blog was updated on November 28, 2023 Direct state reporting for 1099s has increased regulations over the past decade. These regulations include earlier due
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4 Tips to Avoid Inaccurate Direct State Reporting
Direct state reporting obligations can quickly become complicated for any business, and if done incorrectly, state penalties can add up rapidly. Direct state reporting has
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What is the Combined Federal State Filing (CF/SF) Program?
The IRS created the Combined Federal State Filing (CF/SF) program more than 20 years ago to help alleviate the administrative burdens on small businesses reporting