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Tax Hub

File 1099 Online

Jan 20, 2023

Simplify the process of filing 1099s for taxes. Follow our quick guide to learn how to automate 1099 filing securely and accurately online.

Backup Withholding

Businessman sitting on the sofa and using laptop

Dec 9, 2022

You can avoid or stop backup withholding by correcting the reason for the backup withholding. Report your correct taxpayer identification number (TIN) to the payer. Resolve the underreported income and pay amounts owed. File any missing tax return(s).

W9 vs 1099

man smiling while working on his laptop

Dec 9, 2022

Businesses use W-9 forms submitted by some U.S. suppliers and independent contractors to complete IRS forms 1099-NEC and 1099-MISC. W-9 forms are also required for other transactions besides reporting self-employed contractor income on 1099-NEC or 1099-MISC.

1099 Rules

two coworkers using a digital tablet while standing on a balcony

Dec 9, 2022

The 1099 rules for types of items to report for 2022 on Form 1099-MISC and 1099-NEC per IRS Instructions generally apply to income payments of at least $600 and backup withholding of federal and state income taxes.

W9 for Vendors

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Feb 25, 2022

Trades or businesses need to get W9 Forms from U.S. vendors to prepare information returns like Form 1099-NEC and 1099-MISC required by the IRS to report calendar year amounts paid to them of $600 or more or amounts of backup withholding of federal income taxes.

W9 Automation

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Feb 17, 2022

Automated W9 management helps tremendously with tax compliance but there are several other factors that make digitization an attractive strategy. Automation cuts down on incorrect information and speeds up the entire process. It facilitates invoice management and vendor finances.

1099 Form

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Feb 16, 2022

A 1099 form is an IRS tax information return for reporting business-related nonemployee compensation paid, certain other payments, including royalties, miscellaneous information including any backup withholding, and interest and dividends.

W-8BEN

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Feb 11, 2022

The Internal Revenue Service requires W-8BEN because foreign individuals are normally subject to a 30% tax withholding, but they may qualify for a reduced rate of taxation. W-8BEN helps to establish this eligibility, although other factors also play a role, such as type of income.

W9 Form

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Jan 27, 2022

This guide defines what a W9 form is and provides a linked Form W-9 from the IRS website. We describe the required information, who requests and fills out a form W9, how to prepare a complete Form W-9 and submit the form, and why W9 forms are important.

TIN Matching

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Sep 28, 2021

You want to integrate as seamlessly as possible with existing accounting and ERP systems. However there are many key steps along the supplier payment process that still require significant manual effort beyond sending out payment instructions to the transfer API for bank, ACH, and wire services.

1099 NEC Instructions

businesswoman sitting alone in her home office

Sep 27, 2021

Payers send a copy of the completed 1099 information returns to the payee, the IRS, and states with income tax. The payers batch all 1099-NEC returns completed using transmittal form 1096 when they file form 1099-NEC with the IRS. Form 1096 is titled Annual Summary and Transmittal of U.S. Information Returns.

What is W-8BEN-E

Candid picture of a business team collaborating

Jul 30, 2021

W-8BEN-E is an important tax document which allows businesses operating outside of the U.S. to claim tax exemption on U.S.-sourced income.  The official document title is Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting (Entities).

1099 NEC vs 1099 MISC

Cheerful woman in business meeting with colleagues

Jul 9, 2021

The difference between IRS Form 1099-NEC and Form 1099-MISC information returns is that Form 1099-NEC is used by payers to report nonemployee compensation and follow backup withholding rules. Form 1099-MISC is used by payers to report information on other types of miscellaneous nonemployee payments.

1042-s

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Jun 24, 2021

Form 1042-S must be filed with the IRS and a copy should also be sent to the business, student, entity, or employee payee to complete their U.S. federal tax return. It’s the responsibility of the withholding agent to complete the form. The withholding agent could be:

Who Gets a 1099

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May 10, 2021

Payers are required to track payments with adequate bookkeeping during the year to later prepare information returns 1099-NEC and 1099-MISC. They should get W-9 forms from U.S. business service providers and Form W-8BEN certifications or other required forms from foreigners that are exempt from a 1099 form.

W-8ECI

business team collaborating

Apr 28, 2021

The IRS Form W-8ECI specifies which foreign persons and organizations should not use Form W-8ECI and which type of IRS W-8 form they should use instead, if applicable. U.S. persons that are not employees (filing a W-4 form) should use the IRS W-9 form instead of Form W-8ECI.

1099 MISC Instructions

girl in headphones using laptop at home

Apr 15, 2021

Boxes on the new Form 1099-MISC are rearranged and renumbered. Boxes 15 through 17 apply to states. Follow IRS 1099-MISC Instructions to complete the tax form. Some exceptions for 1099-MISC reporting aren’t included in this article.

Global Tax Requirements

business woman using laptop at home office

May 8, 2020

Laurie Hatten-Boyd, Principal at KPMG, explains how tax requirements impact organizations with global supplier basis and the legal and financial penalties for noncompliance.

Study Finds Only 10% of Companies Are Automatically Validating Suppliers’ Tax Information to Help Comply with IRS Withholding Tax Requirements

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May 15, 2018

Tipalti has released the findings from a survey of controllers and other finance and business executives that indicated a concerning number of organizations don’t have AP tax measures in place to comply with the IRS chapter 3 regulations and avoid tax penalties.

Avoiding the Tax Compliance Risks when Remitting with Prepaid Debit Cards and Ewallets

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Dec 14, 2017

Compliance can be a tricky proposition for those who make supplier and partner payments.

Why the IRS is Requiring Stronger Tax Identification Number (TIN) Validation

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Oct 11, 2016

The Internal Revenue Service is requiring a stronger identity verification process for e-services.

W-8 and FATCA Form Compliance

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Oct 5, 2015

For finance and accounting teams, one area that causes compliance issues is the W-8 series IRS tax form process.

Maintain Foreign Payment and U.S. Tax Reporting Compliance with Tipalti Automated Mass Payment Platform

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Nov 22, 2012

Built-in OFAC compliance, automatic tax form collection and 1099/1042 form generation make it fast to pay businesses or individuals around the world

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