Question: We understand the IRS instructions for B-Notice mailings say: Your outside mailing envelope must be clearly marked “IMPORTANT TAX INFORMATION ENCLOSED” or “IMPORTANT TAX RETURN DOCUMENT ENCLOSED”. We also know this statement is required for some information reporting forms, and the second statement is used on our mailing envelopes. But – does this statement…
Listen to or watch the associated podcast: https://podcasts.dinesenmedia.com/show/information-return-intelligence-1/ask-the-expert-volume-4/ Question: I wanted to confirm my understanding on who was responsible for issuing 1099’s/1042-S’s for vendors that are paid by an e-payables credit card. If I recall correctly, these should be issued by the bank issuing the card, as they are the ultimate payor. Answer: You are…
Listen to or watch the podcast about this topic: https://podcasts.dinesenmedia.com/show/information-return-intelligence/ask-the-experts-volume-2/ Question: If Company A issues a check to a payee, then later, Company A has to reissue that same check due to the payee losing the check, does Company A need to do an amended 1099-NEC if it crosses tax years? Answer: No. The question…
