Verifying the accuracy of Taxpayer Identification Numbers (TINs) helps you to avoid reporting mistakes, ensure smooth tax filings, and maintain KYB/KYC compliance. TIN verification verifies if the provided TIN and name are a match, whether you are verifying an employee or a vendor. This helps identify discrepancies early on, thereby saving time, money, and resources. […]
For businesses, issuing a 1099 form is a key task. No matter if you are new to the filing process or just need a refresher, knowing how to fill out and submit a 1099 form to vendors are essential skills. For tax compliance purposes, there are precautions to take to remain in compliance with federal […]
In today’s digital age, businesses must be vigilant about protecting their sensitive information from cyber criminals. One crucial aspect of this protection is the verification of Employer Identification Numbers (EINs). This post explores the importance of EIN verification and how it can help safeguard your business from cyber threats. The Importance of EIN Verification EIN […]
When it comes to managing finances, one of the most critical aspects for business owners is ensuring compliance with tax regulations. During the 1099 season, this responsibility often comes to the forefront, especially in regards to collecting and correctly reporting Taxpayer Identification Numbers (TINs) on 1099 forms. Incorrect TINs can lead to issues such as […]
Two major IRS notices that taxpayers may receive regarding incorrect Taxpayer Identification Numbers (TINs) reported on tax documents are the IRS Notice 972CG, also called a P-Notice, and an IRS Notice CP2100, or B-Notice. It is important to know what these notices can mean and how to respond, both of which can save fines and […]
Compliance with 1099 reporting requirements is essential to avoid penalties and ensure accurate tax filings. One effective solution is Batch TIN Matching, which allows businesses to efficiently verify large volumes of Taxpayer Identification Numbers (TINs) with speed and accuracy.
