If your business files or prepares high-volume 1099s, you have likely encountered an IRS B-Notice firsthand. These notices tend to arrive unexpectedly, sometimes months after filing, and rarely in isolation. A seemingly minor name and TIN discrepancy can quickly escalate into 24% backup withholding, compounding penalties, and extended administrative remediation. As you prepare 1099s for […]
In the realm of accounts payable, 1099 compliance issues stem from vendor data that was incomplete, inaccurate, or never formally verified during vendor onboarding. Missing W-9s, mismatched TINs, and incorrect entity classifications typically manifest as critical errors during peak filing windows. Proactive vendor verification is a foundational risk-management function. A rigorous 1099 Vendor Verification Checklist […]
The 2025 tax year officially wraps up on December 31, 2025, but most of the important filing and payment deadlines are not due until 2026. If you run a business, manage payroll, or file using an EIN, adhering to these dates is critical for compliance. This guide walks through every key federal tax deadline tied […]
When it comes to tax filing, understanding the various forms you need is crucial. Two of the most commonly used forms for individual taxpayers and businesses alike are the 1040 and 1099 forms.
As an organization with employees and independent contractors, handling finances and tax compliance can seem daunting. This is because there are so many different forms required by the IRS, including Form W-4 and W-9. But what are these two forms, and what makes them different from each other? Luckily, they are both simple to understand once you have all the relevant information.
In today’s global business environment, maintaining compliance with regulatory requirements is crucial to mitigate risk and ensure smooth operations. An OFAC sanctions list search tool is a vital resource for businesses seeking to comply with U.S. Treasury Department regulations.
