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.
An Employer Identification Number (EIN) is a unique number assigned to a business by the IRS (upon request) for tax-related matters. An EIN search refers to the process of looking up an EIN. If you are searching for your own EIN, onboarding a vendor, or confirming the credibility of a subcontractor or business, then it’s […]
When you’re running a business, especially with employees, you may have encountered the terms EIN and TIN. You may also have heard about two different services: EIN search and TIN matching. While there are undeniably some similarities, too many companies see these two as the same when they aren’t. We want to ensure you have […]
1099 forms are used to report to the IRS the different types of income paid to non-employees, specifically independent contractors. They are part of various tax regulations, and failing to file them results in huge penalties. An EIN is a special business identifier used in the tax process including the 1099 fillings. It is important […]