1099
Can I File 1099s with Missing or Invalid TINs?
Tax identification numbers (TINs) play an extremely important role in the 1099 reporting process. However, it is often misunderstood just how important a role valid
Category: 1099
1099
5 Reasons Financial Institutions are Centralizing their 1099 Reporting Processes in 2023
Financial institutions are moving toward a centralized tax solution, but why? We have found five major drivers leading this change. Operational costs Core banking solutions
1099
What is a Tax Identification Number (TIN) and Why is it Important?
Having the correct Tax Identification Number (TIN) is essential when filing W-2s, 1099s and ACA forms. The nine-digit number could be a Social Security Number
1099
Treasury Department, IRS Release Final eFiling Requirements
The Treasury Department and IRS released changes to the electronic filing requirements for information returns this week. TD 9972 changed the requirements for a number
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IRS Delays 1099-K Reporting Threshold Changes until 2023
The IRS issued Notice 2023-10, delaying the implementation of the 1099-K reporting threshold and transaction limit change until 2023. As a result, third-party settlement organizations
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Why Using a Payment App for Your Business May Lead to 1099s
Editor’s note: This blog was updated on December 28, 2022 Update: Since this content was published, the IRS released guidance that the implementation of the reduced
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How to Prepare Your 1099-K Recipients for the 2022 Reporting Season
Editor’s note: This blog was updated on December 28, 2022 Update: Since this content was published, the IRS released guidance that the implementation of the reduced
1099
The Great Resignation to the ‘Great Confusion’ — What It Means for 1099s
The Great Resignation may technically be behind us, but the ripple effects are far from being complete. More than ever people are pursuing a side
1099
5 Tips for Communicating Form 1099-K Changes
Editor’s note: This blog was updated on December 28, 2022 Update: Since this content was published, the IRS released guidance that the implementation of the reduced
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Understanding Recent Form 1099-K Reporting Changes
Editor’s note: This blog was updated on December 28, 2022 Update: Since this content was published, the IRS released guidance that the implementation of the reduced
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Take Advantage of Real-Time TIN Matching
This blog was updated on March 9, 2023. Every 1099 form transmitted to the IRS has the potential to become a costly penalty; these penalties
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Tax and Unclaimed Property for Mergers and Acquisitions
Mergers and acquisitions (M&A) have always been inherent in the financial institution landscape but have recently increased at an unprecedented pace. A recent Fortune.com article
1099
IRS Clarifies Form 1099-K Reporting Changes for Crowdfunding Payments
Editor’s note: This blog was updated on December 28, 2022 Update: Since this content was published, the IRS released guidance that the implementation of the reduced
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Insights from Tax Year 2021 Form 1099-NEC Reporting
The tax season isn’t over yet, but one of the biggest organizational reporting challenges is behind us– issuing and filing of Form 1099-NEC for payments
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More Changes to Form 1042-S
No matter the size of the business, the tax season kicked off this past month with tax reporting professionals tackling the massive task of issuing
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Latest Updates: State Direct Reporting Requirements for Form 1099-NEC
With the release of Publication 1220 for tax year 2021, we were made aware that the IRS has added Form 1099 NEC to the Combined
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Are you Ready for 1099 Tax Reporting Season?
Editor’s note: This blog was updated on December 28, 2022 Update: Since this content was published, the IRS released guidance that the implementation of the reduced
1099
Important eFile Threshold Changes Could be Coming for 2021 Tax Reporting Season
The IRS issued Proposed Regulations in September that included a reduction to the required electronic filing threshold for businesses from 250 information returns to 100